February has seen an increase in the number of people viewing our available properties, keeping the leasing team busy, and the challenge has been to turn those viewings into applications that meet our office criteria.
Many who view the properties show great interest at the viewing and indicate that they will be submitting an application. Generally this is about 80% of people who view. Of that 80%, around one-fifth (20%) actually submit an application. It is then only about half of those applications that meet our tenant selection criteria.
Our data shows that the biggest reasons applicants are not ‘making the cut’ are:
Affordability—applying for properties outside of their income range
Previous Rental History—Poor history with another agent, or lack of rental history.
We do have a stringent criteria that applicants are required to meet because we are ensuring that the best tenant possible is selected for approval when we present an application to you.
Statistics for February:
Northside: Total of 22 properties leased | Vacancy Rate: 0.98%
Southside: Total of 8 properties leased | Vacancy Rate: 0.78%