UNREALESTATE Coffs Coast Managing Director Chris Hines has questioned the extent of the reported drop in rental property availability locally, outlined in the REA Group’s latest PropTrack Rental Report.

“Anecdotally, it has tightened up a little, but that’s kind of what it is like all the time around Coffs Harbour,” Mr Hines said.

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“We’ve still got available rentals here.”

Nonetheless, he said there were likely fewer properties on the market compared to twelve months ago “because we’ve gone through a rise in rents about the same time property prices went up”.

“Like properties for sale, the number of rental properties has probably taken a little bit of a drop,” Mr Hines said.

“If you’re a landlord you don’t want your property empty for a week.

“You’re better off taking a $10 a week drop and getting somebody in there as quickly as possible.

“If the rent is $500 a week, that’s 50 weeks to make that $10 back.”

Even so, he said property ownership remained attractive for investors as it provided both income and capital gains over time.

Mr Hines said there was no doubt some people were finding it difficult to obtain rental accommodation, with many experienced repeated knockbacks.

He advised renters to have their paperwork in order before commencing the rental process, to save time and avoid disappointment.

“There are a lot of factors that come into it,” Mr Hines said.

“When you come in to see a property manager, have everything ready to go – your references, your payslips, your identification.”

By Mike HELY