In the 10 years to 2016, the size of Australia’s private rental market grew at double the rate of household growth, according to research by the Australian Housing and Urban Research Institute.
And the mix of rental households is changing too.
Renting is not just the domain of young people transitioning from the family home to home ownership.
“There are now more private renters on lower and higher incomes, more households with children; more households renting at midlife, and more long-term renters (10-plus years),” realestate.com.au quotes from the AHURI research.
With one in four Aussies living in rental accommodation, AHURI pointed to opportunities for investors to see themselves as housing providers not just landlords.
In our experience the happiest landlord and tenant relationships are built on good communication with your property manager and mutual respect.
Paying rent on time is important to the landlord and likewise tenants will value timely responses to requests.
Establishing a good partnership provides security of tenure for tenants and security of investment for landlords.