As we approach the warmer months, landlords are encouraged to take the opportunity and tick off some important maintenance jobs.
These jobs might include: checking drains and gutters, looking for signs of mould or damp, having air conditioners serviced, mending any broken or leaking fixtures, examining fences and garden walls to ensure that they remain in sound condition and inspecting the roof (and chimneys if applicable) for signs of damage.
In market news, the REIV has released latest rental data highlighting some very minor adjustments to median rents and vacancy rates.
Here’s a summary of the latest figures:
· Melbourne’s overall vacancy rate is at 2.7% – down 0.2% since May
· Inner Melbourne’s vacancy rate is 2.4%
· Middle Melbourne’s vacancy rate is 3.3%
· Outer Melbourne’s vacancy rate is 2.4%
· Victoria’s vacancy rate dropped slightly from 2.9% in May to 2.8% in June
· The weekly median house rent across Melbourne is stable at $401
· The weekly median unit price rose from $390 to $395