Finding tenants for Brisbane city homes: the inside story!
It’s a common question we receive here at Bees Nees City Realty: “Where do all of your enquires come from?” Whilst the traditional methods for finding tenants such as erecting a sign at the front of a property and placing an ad in the local newspaper were the norm for many years, this method of advertising is becoming outdated.
Signs do still work – they’re great value for money – but enquiries for rental properties has now shifted to online portals such as realestate.com.au, Domain, realestateview.com.au, rent.com.au and many more. This shift changed the way real estate is marketed and allows agents marketing tools that would not have been possible using the traditional methods.
Websites allow agents to present the property in its best light by giving the agent a full page, numerous colour photographs, and they provide analytics that would not have been possible to track prior to internet listing.
Between January to March 2016 Bees Nees City Realty received and tracked over 2000 enquiries on our rental properties. By collating this data we were able to see exactly where all of our enquiries were coming from and by doing this we are able to best market our rental properties via these portals.
As you can see realestate.com.au (REA) is the stand out with almost 70% of enquiries over the past three months being received from their site. This site is expensive to use and its prices rise by an extraordinary amount every year. But it works. Trailing behind REA are tenants who attend inspections without registering, and then Domain. Many would think that as Domain is REA’s main competitor we would receive quite a few more enquiries from their site however that just isn’t the case. With such high figures being received from REA it is quite clear that marketing through their site is your best chance at finding quality tenants.
You may have noticed that 2% is received from various portals and this includes sites such as RealEstateView, rent.com.au and Gumtree. With limited enquiries being received from these, you can see why those landlords who decide to manage themselves and advertise on Gumtree generally don’t have the best tenants to choose from or give themselves the opportunity to achieve the highest and best price for their investment.
If you need assistance finding tenants for your investment property, please contact our team!