Since the Federal Budget, we’ve had quite a few conversations with landlords asking the same question: “What do I do now?”
The reality is, not much has changed overnight.
Whenever governments introduce new policies, there’s always a period of uncertainty. Most investors don’t rush into selling. They simply hold, wait and see how the market responds. We’ve seen it before, and we’ll probably see it again.
At the same time, we’re now in the middle of winter.
Every year the rental market slows a little. It’s colder, fewer people come through inspections and leasing campaigns generally take a bit longer than they do in spring.
The mistake is treating July like October.
I was sorting through our wardrobes at home the other weekend. The kids’ shorts and sandals went into storage, and out came the jumpers and jackets. Nothing was wrong with the weather – it was just a different season.
Leasing property works the same way.
The strategy that worked a few months ago won’t always be the strategy that works today. Sometimes it’s pricing, sometimes it’s the marketing, sometimes it’s simply being patient and knowing when to adjust.
That’s why we don’t take a one size fits all approach. We adapt to the market we’re in.
Joseph Fairchild
