If you've taken up property management in Bunbury it's time to ask your agency for advice on how best to price your rental properties, one expert has urged.
President of the Real Estate Institute of Western Australia (REIWA) David Airey explained that rental prices dropped all over the state capital, so it's time for landlords to get savvy.
In fact, the average cost of renting a property in the city is now 2.2 per cent less than it was in the three months to April and 4.3 per cent below what it was this time last year.
Mr Airey said landlords need to sit up and take note of these changed conditions before getting in touch with their property managers to talk about the best way forward.
Setting the right price for leases will give tenants the push they need to move in the direction of your rental property in Bunbury – if they're too high then they'll undoubtedly head somewhere else.
Houses in Perth will set renters back about $460 a week, while apartments and units tend to be priced at around $440, so it really is worth doing your research if you want to stay competitive.