It’s no secret that Brisbane’s rental market is experiencing major growth at the moment, with competition for properties heating up across Queensland’s capital. Not sure what to ask at your next rental open-home? We turned to Business Development Manager Michael Kafantaris from Place New Farm for his expert advice…
First of all, are there any crucial questions that you think potential renters should ask? What would be your top three go-to questions?
“It’s important to ask what utilities are included with the property? This way potential renters can justify value, with some properties having water included, or other utilities. Be sure to also enquire as to what the best way to proceed is; such as, how to apply for the property. It’s also worth enquiring about any other listings the agent may have in the area.”
As a Business Development Manager, are you able to discuss how long the property has been available for rent?
“We definitely can – this usually assists in providing awareness to the tenants of the owner’s position. For example, a brand-new listing means the owner will not consider price negotiations yet. Or, if it has been on the market for a little while, tenants may sometimes offer less than the advertised rent. Tenants can usually tell how long a property has been on the market depending on if it is available and vacant now, or if the tenants are still living there.”
Are you able to disclose if a property has had interest from other potential renters?
“Again, we definitely can, simply for the tenants to see if it is worth applying for the property. Typically, tenants will ask how much interest the property has had, due to how challenging it is to find a rental property at the moment. By asking this question, they are able to ascertain how many people they are competing with.”
Is there anything you recommend potential renters should research/consider before attending an open-for-inspection?
“Numerous tenants are concerned with noise and sunlight. Regarding noise, I would firstly look up the property on a map to see exactly where it is. Secondly, I research the property on the council ‘noise pollution map’ to see what kind of noise the property attracts, if any.
Regarding sunlight, many tenants – typically shift workers, such as nurses and doctors – are concerned with the level of sunlight that their potential new home will receive. I would bring the property up on a map to see which way it faces and then work out where the sun is due to rise and set.”
If potential renters are not able to attend an open-for-inspection in person (due to being located interstate, Covid-19 lockdowns, etc.), is there anything they should enquire about? Is there anything they might have to consider, due to not being able to see the property in person?
“If a tenant was unable to view a property due to being interstate or overseas, their options can be to send a friend to the inspection, conduct a video chat inspection, or roll the dice and sign a site unseen waiver. COVID-19 has revolutionised how this is done with high-quality marketing videos being done as the norm.
If this is the case, tenants will usually ask about what is important to them: direction (sun or religious reasons), noise, nearby amenities, building amenity, bedroom measurements, fridge cavity measurements, etc.”
Are potential renters able to ask about any other listings available in the area?
“We welcome any enquiries of other properties, particularly if potential renters are not quite sold on the property they are viewing, or if they are looking for a move in the next couple of months. This way, we can hopefully secure their next home for them, whilst getting our job done efficiently.”
With experience as both a Leasing Consultant and Business Development Manager, Michael is incredibly knowledgeable about the local rental market. View his rental listings and register for an upcoming inspection here, or subscribe to the newsletter below to keep up-to-date with all things Brisbane real estate.