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Whether you are planning to rent a property in Australia or searching for potential customers to lease your property as a landlord, then you must be aware of the current trends in rental properties. The rental property industry is likely to experience a major shift in 2023.
This is due to the changing demands and preferences of renters, landlords, and even property managers. From technological advancements to sustainability and luxurious amenities in rental properties, several exclusive trends are set to rule the rental market this year. Keep reading to find out about it.
If you are a tenant in Australia, you must get permission from your landlord to own a pet. And if the landlord isn’t okay with that, they must have a valid reason to deny that request. Also, rental property owners can apply to VCAT in order to refuse permission.
But these days, rental property trends are changing. Renters highly prefer to live with their pets. This is why many landlords are giving green signals to such requests.
The best part is that rental properties come with basic amenities such as pet washing stations, dog parks, and even pet grooming services, with the mindset of helping these animals have a better life along with their owners.
So, pet-friendly properties are getting more attention, which is expected to be a trend this year. One can easily find pet-friendly rental properties with the help of SKAD real estate agents in Thomastown, Epping, and Craigieburn. Since they promote such places, you can find one if you are a pet lover.
But renters must ensure that their pets don’t cause any damage or be a nuisance to others and that the rental property is maintained clean.
How about a rental property that not only gives you a roof over your head but also creates a personalised sanctuary to fulfil every need and simplify your life? That’s what smart home technology promises. This technology refers to the devices and appliances connected to the internet and can be controlled remotely using your handheld device.
The perks that smart homes offer have attracted more renters.
So this is why real estate agents offer properties equipped with smart home devices like smart thermostats, security systems, and voice-activated assistants like Siri or Alexa.
Another added advantage of smart homes is that they provide an extra layer of security. Smart locks and doorbells with cameras can be remotely controlled and monitored, giving renters freedom from worry as their property is being monitored even when they are not there.
Renting a smart home property is cool. But renters must ensure they know how to operate the devices and check if they are adequately secured so that their security isn’t breached.
Smart homes are not only a current trend, but their demand can rise in the future.
Post-pandemic, you must be familiar with coworking spaces. But did you know that co-living is becoming the new normal in Australia?
Co-living can be defined as a type of modern accommodation where the residents share a living space.
Though the co-living concept has been around for a long time, the modern co-living concept is pretty new, and this rental choice is widely opted for by young people. Here, the homes are fully furnished, and have private bedrooms where one can unwind and share common areas.
One of the main benefits of shared living spaces is that they can help renters save their pocket on living expenses. For instance, in a rental property with a communal kitchen, tenants can share appliances and cooking tools. So this can significantly reduce the cost of buying and maintaining their kitchen equipment.
Since it promotes socialisation and cooperation, flexibility, and financial and health benefits, young professionals and students seek shared living spaces.
Check with the real estate agent in Craigieburn if you are hunting for co-living space in that area.
Who would say no to renting a five-star hotel as a place to live their life? Rental properties with luxury amenities are becoming famous in the real estate market.
Landlords are going the extra mile to offer high-end amenities for their high-end customers, aka renters.
They provide supreme comfort and convenience by transforming rental properties into luxurious living spaces.
From rooftop pools and state-of-the-art fitness centres to smart home technology and concierge services, these amenities provide tenants with a unique lifestyle.
So, what are the amenities one gets? Previously, you read about smart homes, right? These properties come with the same, along with rooftop pools, fitness centres, concierge services such as laundry service and package delivery, and high-end kitchens. These are a few examples of the many luxury amenities now available in rental properties.
These luxury amenities at rental properties come at a premium rental cost. If you prefer comfort and convenience and want to experience the bells and whistles of a high-end hotel, ping your local real estate agents to find such properties.
People are becoming more aware of how their lifestyle choices impact the environment. So they have started seeking sustainable, eco-friendly, and energy-efficient housing options.
These homes are designed to reduce their environmental impact by using renewable resources and reducing energy consumption. So they feature green roofs, energy-efficient appliances, water-saving features and solar panels.
Some rental properties are constructed using eco-friendly materials such as recycled steel, bamboo, etc.
Sustainable homes also contribute to reducing indoor air pollution and providing better insulation, resulting in better indoor air quality and more consistent temperatures.
Sustainable homes not only help preserve the environment but also benefit homeowners and renters as they enable long-term savings on utility bills and maintenance costs, a healthier living environment, and enhanced social responsibility. So, sustainable homes will become more prevalent in the real estate market.
Looking for sustainable rental properties in Thomastown? Get in touch with local real estate agents, such as Skad real Estate, who can find the best place to dwell in your budget.
Gone are the days when traditional long-term leases existed where the rental agreement lasted for a year or longer. Today, landlords and real estate agents have understood the demand for flexible lease terms and have opted for them.
This trend is popular among young people who prefer the ability to move to new living spaces more frequently due to work or are unsure of their future plans.
Flexible leasing options include month-to-month rentals, six-month rentals, or some leases that allow renters to renew on a rolling basis.
Also, this trend allows renters to choose a rental form that suits their lifestyle and budget. The best part is that it allows them to test a neighbourhood or property before committing to a longer-term lease.
But do you know why landlords and real estate agents shifted away from traditional leasing options?
It’s because flexible leasing options can be beneficial. Attracting tenants can also help reduce vacancy rates by keeping properties occupied by short-term renters.
Not only individuals but also e-commerce businesses will need rental properties.
In the era of online shopping, it’s no surprise that e-commerce warehouse rentals will be in demand. Businesses are in need of larger spaces to store their inventory, fulfil online orders and manage logistics. But the catch is that E-commerce warehouses must be strategically located to ensure efficient order fulfilment and delivery.
Renting a warehouse space is often considered a cost-effective option than building one because it saves on upfront costs and ongoing expenses for maintenance.
From technological advancements to sustainability and luxurious amenities in rental properties, several exclusive trends are set to rule the rental market in the coming year.
To cater to all the needs of renters and landlords, real estate agents are staying ahead of the curve to help their customers.
They can assist landlords in finding potential renters by advertising the property, screening potential tenants, and conducting background checks. On the other hand, these agents can help tenants or renters find the best rental properties that fit their budget and needs.
If you are searching for rental properties in Epping, Craigieburn, or Thomastown, contact SKAD real estate.
The real estate agents here are licensed professionals with expertise in buying, selling, and renting properties. Since they have years of experience under their belts, they have a deep understanding of the local rental market. They can help landlords and tenants find suitable properties and guide them in legal and financial matters related to renting a property.