If you are a landlord with a vacant property, you want to know that your advertising dollar is being spent where tenants are likely to be searching for accommodation. Research conducted Australasia-wide shows that a massive 92% of rental enquiry comes from just one source – the Internet.
These statistics are an Australasia-wide average and many landlords – especially those who don’t use the internet very often themselves – may think it isn’t true for their property. The only way to find out – and to make sure their advertising money is being well spent – is to ask their agent if they are doing local research to find out where their tenant enquiry comes from.
The Australasian results show that 92% of enquiry comes from the internet, 7% from walk-in enquiry and 1% from a combination of To-Let boards and newspaper classifieds. While most prospective tenants live within 5 to 8 kilometres of the properties they are looking to rent – within the local area – they are still using the internet as their easy-access, anonymous research tool.
Before agreeing to allocate money for advertising, make sure your Property Manager can provide you with researched data as to where your local tenants look to find accommodation.
