Vacancy Rates Vs Days on Market

11th April 2017

Most agencies will only advertise their vacancy rates when it comes to their rental performance. Knowing an agencies vacancy rate is good, but only tells a little about the business – what most agencies fail to report is their average days on market.
This tells you how long it takes an agent to lease a property – from the point of listing the property to the point where a tenancy application has been approved and tenancy agreement signed and executed.

Since 1st Jan 2017 to present, the average days on market, for a residential rental property on the Northern Beaches been 29.5 days, whilst Property North Agency’s average has been 13.2 days. That’s a difference of 45% or more than 2 weeks rent!

So how do we achieve much better than average results when it comes to leasing your property?
We give sound advise on pricing: This ensures you property is correctly priced to ensure maximum return, but with minimal untenanted periods.
Unique Marketing Strategy: We go beyond the typical websites and newspaper ads, getting into social media groups, newsletters and other active search groups.
Our own database: As our business is property management, we pride ourselves on keeping a strong database of groups actively looking for property to rent in your area. We know what each individual is looking for and can immediately put your property in front of the right people.
Work Closely with relocation agencies: We use corporate and international relocation agencies to find professional qualified tenants for your property.
Flexible Inspection times: We go above and beyond to take people through your property. Whether it’s before or after hours or on the weekend, we take as many people through as possible, which means more exposure and a greater choice of qualified tenants for you to choose from.