QLD rental market to pick up over coming months

The Real Estate Institute of Queensland predicts that January will see demand for rental properties pick up, those who own real estate in Rockhampton are already seeing early signs of this coming to fruition with rental occupancy at Ray White Rockhampton currently sitting at one per cent, meaning more properties are urgently required.

February and March are the peak times where historically demand hits record levels with Residential Tenancies Authority data forming the consensus that 40,000 lease agreements will be negotiated across Queensland.

There are currently 13,000 properties for rent across the Sunshine State with REIQ chief executive Anton Kardash saying that potential tenants should prepare themselves.

He said that due to undersupply, those preparing to rent should think about what they will need – including proof of identity and proof they have the assets to pay the weekly rates.

Mr Kardash commented: "Part of the rental process is to assess whether there is sufficient evidence from the prospective tenant that they would be able to meet the rent.

"The calculation is generally that rent should not exceed 30 per cent of the total income of all tenants named on the lease."

Another criterion is proof that a tenant will maintain the property to an acceptable standard. This can be achieved through documents stipulating previous tenancy or references from previous landlords.