Share Accommodation is Up-and-Coming in Brisbane
The rise of share accommodation creates an amazing opportunity for Brisbane tenants to save money without compromising on location. According to the popular website for share accommodation Flatmates.com.au, 56 per cent of renters in Brisbane share a rental property.
By sharing a room, those new to the city, university students or recent university graduates have an opportunity to live within Brisbane inner-city circle without compromising on their lifestyle. It is a popular option not only because they can get a bang for their buck, but access countless cafes, bars, restaurants, shops, job opportunities, major universities like QUT, Griffin, and the University of Queensland along with convenient public transport options. Brisbane CBD has something no other area can offer and being within walking distance or a short bus ride from it, is a major value.
Here’re the most popular suburbs in Brisbane for shared accommodation:
- West End - average weekly rent $180 for a room
- Fortitude Valley – average weekly rent $250 for a room
- Spring Hill – average weekly rent $230 for a room
- St Lucia – average weekly rent $190 for a room
- Indooroopilly – average weekly rent $170 for a room
While it is an amazing opportunity to capitalise on your investment property, it is important to make sure your property is suitable for shared accommodation. Whether you have a property manager or operate independently, you need to ensure all tenants who will be living at your rental property sign the lease. This serves as protection for your property because when everyone signs to the terms of the lease agreement, all tenants are equally responsible for following the terms, like rent payment. It is up to tenants to distribute how much each of them pays.
Have an investment property in one of the suburbs on the list? Get in touch with our property management team to see how you can capitalise on your investment.