During the past 8 months, the rental market has steadied throughout the Hunter area due to the down turn in the mining industry, resulting in the retrenchment of mine workers and the completion of stages on the Hunter Expressway.
This has impacted the rental market vastly as miners are moving away for work. This has left Cessnock with a higher percentage of rentals for lease due to these vacating tenants.
Current tenants or those looking to rent have an increased level of choice and value for money and are aware they can find a better deal elsewhere.
Whilst we are only a new Real Estate in town, we are developing our rent role at a rapid pace. Our Property Managers are proud to say that over the past 7 months, they have leased a property every 3.7 days.
Without our personal service, this would not have been achieved. We have noticed that in the current market, open homes are not working and we need to take those who enquire to the property at the earliest convenience to them.
We are a real estate with only 3 Property Managers made up of new and experienced staff. We have fresh ideas and are continuously adapting to the fluctuating changes in the rental market.
Are your Property Managers adapting to these changes?