Rent Negotiating – Sydney Rental Market
This week, in the highly competitive student real estate market around UTS and Sydney Uni – Kathryn Hall Relocations negotiated a landlord down on their rent, not only saving our client our own fee, but several thousand dollars more than our fee.
In early February every year thousands of students look for accommodation around our main universities, with the Newtown and its surrounding suburbs the most popular with students of both Sydney Uni and UTS and the market is under pressure to accommodate singles, group households and families moving in to be “20 minutes walk or less to classes”. Min Carroll from Kathryn Hall Real Estate, who specializes in Sydney Relocations, find that open houses can become extremely crowded, with 40 people arriving at once, it is necessary to turn sideways to pass people in the hallway! The application process is highly competitive and tersely timed.
Newtown and its surrounding streets and suburbs are lined with single and double story terrace houses, medium density living, whilst along the arterial roads there is more medium density living, multiple occupancy dwellings, and apartments. The usual floor plan for a terrace is between one and three bedrooms, with the odd larger four bedroom home.
Each year we assist interstate and international students into homes near their study. This year a group of four women studying their post graduate degree wanted a four bedroom home, the least common floor plan available, at the busiest time of the year. In an outstanding result we were able to secure a centrally located property with four large bedrooms with brilliant storage, cooking and laundry facilities, modern bathrooms – and negotiate a $100 discount on the asking price of the rent, saving our clients $5200 in a year. Thats a lot of smashed avocado on toast with a latte in Newtown’s lovely cafes – and four happy clients. I was very worth their while to hire us, they have somewhere to live without even having arriving in Sydney yet.
DISCLAIMER
The information in this article is of a general nature. While care has been taken preparing this information Kathryn Hall Real Estate does not warrant, represent or guarantee the accuracy, adequacy, completeness or fitness for any other purpose that the article may be used. Kathryn Hall Real Estate accepts no liability for any loss or damage (whether caused by negligence or not) resulting from use of information.
