Rising interest rates, a volatile property market and housing shortages are just a few factors impacting property owners in the current market. It is therefore no surprise that when it comes to deciding what to do with a property when you have outgrown it and are moving on, the decision is not as easy or as straightforward as you might think.

We asked the team at Blackburne Property Management what the potential benefits are in keeping your property as an investment in today’s market.

Convenience and Professional Assistance

If selling your property seems like a daunting prospect, then holding on to it may be more convenient. By appointing an experienced property manager, the mental load of tenant selection, rent collection, repairs and maintenance are all taken care of.

Personal Flexibility

Your unique circumstance will play a role in whether you opt to rent or sell. If you relocate to another place, move on with a partner or something similar, keeping your property as a rental allows you to maintain ownership and return to it should your situation change.

Potential for Capital Growth

Perth’s property market has recently shown signs of growth with the potential for more over time. By retaining ownership, you will benefit from any further growth should it be realised.

Current Rental Market Trends

The current rental market in Perth has been favourable for investors with record high rental prices and low vacancy rates. This provides a potential investor with the peace of mind of knowing that their property is likely to remain consistently tenanted and at a strong rental return.

As the decision to hold on to a property or sell it is a significant one that only you can decide, it is important to arm yourself with the information required to make an informed decision.

Speaking to an experienced professional is key. Blackburne Property Management’s Paige Garvey can provide you with market insights give you guidance on what may be a positive strategy for you. Paige can assist not only with renting your property out, but can also help sell your property if thats the avenue you wish to take.

For an obligation free chat about your property, speak to Paige on 9429 5746 or drop her an email at paige.garvey@blackburne.com.au

*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.