Home rentals costing Douglas families more
HIGHER RENTS
A low supply of rental homes, rising rents and sluggish wage rises are all contributing to the rental accommodation ‘squeeze’ in Douglas.
Coupled with higher inflation through food prices, fuel and power bills, many renters are having to fork out above the ‘ideal threshold’ of 30 per cent of their take home pay towards rent.
Despite a recent slight improvement of rental availability rates reported by the Real Estate Institute state-wide in the December 2022 quarter, the reality of lower supplies in our region is shown by the sheer lack of available homes for long-term rental.
In Douglas there were less than 30 houses and units listed when Newsport took a look this week.
Higher rents
Out of just 10 houses listed, either three or four bedroom, the average rental per week was $570, and the highest was $740 (4 bedroom). The lowest house rental was $420 (4 bed) in Port Douglas and $450 (one 3 bedroom; one 4 bedroom) in Mossman.
While there were nearly double the number of rental units advertised, there were also a bigger contrast in prices and wider range of sizes available than stand-alone houses.
One single-bedroom unit in Port Douglas was asking $500 per week. The highest unit rental on the market was $750 (3 bedroom), and the average $520 for a unit.
The cheapest units were listed for $300 in Mossman (2 bedroom) and $400 in Port Douglas (1 bedroom).
Nicki Samson, head of property management at LJ Hooker Port Douglas, said with higher interest rates and inflation, many owners of holiday or ‘Airbnb-type’ properties are continuing to opt for short term residential leases anywhere from three to six months, fetching higher rents but also leaving fewer less affordable homes for longer-term renters.
“We are still finding that prospective tenants may be competing with many other people also interested in the same place,” Ms Samson told Newsport.
Holiday leasing = bigger $$
It is unsurprising that more and more property owners are turning to lease their accommodation out on the holiday market.
Even during the off-peak, off-holidays, wet season times like now, holiday home quotes we sought through Airbnb itself brought up some stunning numbers.
For a two-week booking in early February, one four-bed, three-bedroom townhouse in Port Douglas was asking $3,069, including service fee and cleaning costs.
A home in Port Douglas with heated pool, five beds and four bedrooms wanted $6,054 for the fortnight, while if you wanted top-end luxury, Sea Temple Resort was quoting $8,190 for a three-bed, two-bedroom apartment.
Back to the long-term rentals, and Ms Samson has further advice for anyone seeking to secure a home.
“If you've found somewhere that suits your needs and lifestyle, the next step is going to be your application. This is a two-way street, however, and also functions as an opportunity for you to carefully inspect the rental property,” she said.
“You'll want to make a good impression, and perhaps even treat it like a job interview - the Queensland government has handy tips for dealing with this situation.”
That link can be found here:
www.qld.gov.au/housing/renting/finding-place-to-rent/applying-for-rental-property
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