Historically, the peak rental period for the Wagga Wagga market is December through to February.  With increased demand, rents can sky rocket during this period, however it’s very important to also be realistic with rental returns.

Having your property vacant can be costly, so it’s important for investors to weigh up the option of pushing for the extra $15.00 or $20.00 per week and run the risk of an extended vacancy period; or adjusting the price to be competitive for a quick turnaround.

Unfortunately, you cannot quantify the cost of a vacancy, as it depends on how long it takes to re-let your investment to a suitable tenant, plus the work and associated fees in starting a new tenancy.  Over the past three months, the average days on market for the Wagga Wagga area has extended to 51 days.  With this in mind investors are recommended to have realistic expectations regarding their rental return and ensure the property is priced accurately to the market conditions.  

For assistance contact Gary Brown, our Property Investment Consultant on 69 211 555 or gary@fitzpatricks.com.au