How to maintain happy tenants

One of my favourite properties in my portfolio is a 1 bedroom courtyard unit in Rhodes. It has a total area of 85sqm which includes a good size, north facing courtyard of 20sqm. The compelling strengths of this property are as follows:

Guiding Principle

Compelling strengths:

1 bedroom apartment at Sienna by the bay, 2 – 8 Marquet street, Rhodes

New or near new Building completed in February 2008.
Tenant’s amenitiesIMG_0017 The apartment is set within a security compound with a large 20sqm, north-facing courtyard which extends onto the immaculately maintained garden and common grounds, giving an added sense of space and serenity.
Access to public transport 150m to Rhodes train station, buses to CBD.
Local attraction and lifestyleRhodes shopping centre by night Walking distance to Rhodes shopping centre, Rhodes business park, walking and cycling track along the water foreshore to Bicentennial Park, Homebush Bay and Olympic centre.Cycling path, Rhodes water foreshore

Within walking distance to the Rhodes business park which now includes large organisations like Unysis, Australand, Hewlett Packard, Lion Nathan, Alcatel-Lucent, Nestle.

Attractive floor plan Fairly large with a total of 85sqm of living space.

The toilet is a separate powder room with its own basin. This is the only 1 bedroom unit in the Sienna development of over 300 units with this distinguishing feature where the toilet is separate from the bathroom.

Common grounds, Sienna by the Bay

This unit has been tenanted since day 1 and is currently rented for $450 per week.

Rental rates have increased for Rhodes apartments over the last couple of years. 1 and 2 bedroom units are asking around $400 – $475 per week and $520 – $600 per week respectively. This could be fuelled by having the convenience of the Rhodes shopping centre and train station within such close proximity.

Over the past 18 months, new developments have come on-stream and these include the following:

1. Tandara development – 1, 2 and 3 bedders by Mirvac.

2. VQ development – 256 units of 1,2 and 3 bedders developed by BilBerger with an average price of approximately $580k.

3. Peninsula development – 1, 2 and 3 bedders by Meriton

For investors who are keen to consider apartments in Rhodes, I have conducted some research on this suburb for your benefit. Please feel free to give me your feedback and comments!

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