Rentals doing it tough in Blackwater with many empty
BLACKWATER Real Estate Property Manager Meghan Ryan said she had witnessed a strain on the rental market in comparison to previous years.
"When I first started in the industry in 2012 I was renting properties in Blackwater for $800 to $1200 per week," she said.
"Now however some of those properties are being rented for $200-$250 per week because, as properties have started to sit vacant for a while, other landlords have dropped their price to beat the competition, which means the average asking price is then brought down."
Meghan said there were a high number of properties available for rent but not enough tenants to rent them.
"We currently have 75 vacant rental properties within our agency here in Blackwater," she said.
"But this has happened here before and there seems to be a recurring pattern so we are confident that it will pick back up.
"We are still having a high turnover of rental properties ... but I think it's a quiet time for everyone."