Q: Help! My property has been on the rental market for six weeks and I can't find a tenant! What should I do?
A: Vacancy has two main causes - firstly, the amount of rent being asked, and secondly, the location of the property.
If you can't find a tenant at the advertised rent, then consider lowering the rent until a suitable tenant is found. A good property manager understands this and will direct you accordingly. It is better to have the property rented at a lower rate, than having it vacant for an extended amount of time.
In regards to location, your property should be in a reasonably central location where there is a demand for rental properties, for example, close to transport, shops, schools and employment. These features will help attract tenants.
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