Mmmm…after being told that my tenants are moving out I started looking at the rental offerings in the local area. Looks like there may be a glut of rental properties around as I have found a property up for rent at a 5% lower rate than mine. It could be that I will have to drop my rental rate to get a tenant due to market conditions. All this growth in rentals may now be starting to have an impact on the rental rates?
I will wait and see what happens when the agent starts to market the property. I havent seen any ads yet but I hope they will get their finger out soon and get the property advertised and see what interest is stirred. This cheaper property has a better layout than mine but doesnt have as much parking and is also looking out onto the road whereas mine is in a corner plot and has no road immediately outside the door.
I will have to wait and see what happens, I have just received my last rental payment. so that’s the last of my income from this stream for a while, dry times ahead. This will test my rental nerve. 🙂