Hobart landlords are offering tenants a week or two of free rent to entice them into renting their properties.
A three bedroom, one bathroom property in Lindisfarne is being advertised for rent for $550/week – with the first two weeks free.
“The owner is happy to offer 2 weeks rent free to the successful applicant to assist with moving costs,” the listing says.
Kunama Property Management director of leasing and asset management Stephanie Huizing told realestate.com.au that changes in the market have heavily impacted some Hobart suburbs more than others.
“The owner of No.120 East Derwent Hwy, Lindisfarne, wanted to try something different, rather than options like dropping the advertised price,” she said.
“Offering a rent free period was something we saw quite a lot the last time the rental market slowed, some eight to nine years ago.
“I wouldn’t be surprised if we saw a lot more of this type of incentive if the market continues to slow.”
Huizing said since March this year, the rental market in Hobart has “slowed right down,” with inquiry levels decreasing and listings staying on the market for longer.
“Some owners are having to adjust their prices to meet this, if they want to lease their property.”
“I have found that owners who usually lease their property on the private rental market have found the same thing.”
“The good news is that this has made it a lot easier for tenants looking for a new home and taken off some pressure from the housing market.”
