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Is It Better to Sell or Rent My Home?

When it comes to deciding whether to sell or rent your home, there are several factors to consider. Renting out your property in Perth can provide financial benefits and strategic advantages that selling may not offer. In this article, we will explore the benefits of becoming a landlord and the reasons why renting your home through professional Perth property management services can be a better option.

  1. Convenience and Professional Assistance: If you’re not ready to handle the responsibilities of selling a property or prefer to avoid the sales process, renting out your house can be a more convenient option. By appointing an experienced property manager, you can delegate tasks such as tenant selection, rent collection, repairs, and maintenance. A property manager takes care of these time-consuming responsibilities on your behalf, allowing you to focus on other aspects of your life.
  2. Personal Flexibility: Your personal situation plays a crucial role in deciding whether to rent or sell. If you have plans to relocate in the future or anticipate a potential need for the property again, renting it out can be a suitable option. Renting allows you to maintain ownership and have the flexibility to return to your property if your circumstances change.
  3. Potential for Property Appreciation: Perth’s real estate market has shown signs of growth, with property values steadily increasing over time. By renting out your home, you retain ownership and have the opportunity to benefit from any future appreciation. This means that you can potentially sell the property at a higher price later, providing you with long-term financial gains.
  4. Current Rental Market Trends in Perth: The current rental market in Perth is favourable for property owners. According to reiwa.com as of June 2023, the median listing price for houses has increased by 1.5%, and the median rental prices have also reached record highs of $580 per week. Additionally, the vacancy rate has remained low, indicating a high demand for rental properties. Property managers are reporting queues at home opens and receiving multiple applications, indicating a competitive rental market.

Deciding whether to sell or rent your home is a significant decision that should be based on careful consideration of your financial goals, personal circumstances, and local real estate market conditions. Renting your property through professional Perth property manager offers convenience, potential for property appreciation, and takes advantage of the current rental market trends. Consulting with experts like Blackburne Property Group can provide valuable insights to help you make an informed decision aligned with your objectives. Explore the possibilities of renting out your home and capitalize on the benefits it can bring.

*Disclaimer: The content in this blog is general in nature and does not consider individual circumstances. Always speak to a professional for personalized advice and guidance suited to your specific situation.

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Whether you have a residential or commercial property, we work to secure the highest return on your property asset. How? Our strategy paired with our experienced team achieve well above market rental returns for our landlords. Register for your complimentary appraisal and switch today.

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