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Meriton Vacancy Rates at Record Low

Monday, 17th March 2014

Meriton Group's thriving property management arm experiencing low vacancy rate.

Meriton Group's thriving property management arm, Meriton Property Services is seeing an average vacancy rate of 0.5% across the company's more than 3,000 apartments in Sydney.

The city's average vacancy rate is 1.8%.  Developer, owner and builder Meriton offers a complete service, providing vendor finance, guaranteeing investors a tenant prior to settlement, managing the property after the sale and marketing the property for resale when the time comes.

Low interest rates making property increasingly attractive to investors and new stock in it ever-expanding collection has seen Meriton Property Services add 500 properties to its portfolio in the last 12 months across Sydney, Brisbane and Gold Coast, achieving growth of 15 per cent. 

"We have an advantage as we know the blocks, not an odd unit here or there," says Meriton managing director Harry Triguboff.  "We built them."

The company serves a wide range of clients who contract Meriton to manage both their investment and owner-occupied properties.  Customers include local and foreign investors, downsizers, those wishing to upgrade and young families choosing apartment living over less affordable housing and land land packages.

Meriton attributes its success to its well-positioned apartments, generous in size, well appointed and close to public transport.  An onsite building manager (caretaker) is stationed at each property and acts as a landlord's "eyes and ears".  Meriton employs a full-time maintenance team who ensure that buildings are constantly maintained to the highest standards, increasing demand from prospective buyers and renters.

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Comment from ChristopherJames on Thursday, 23rd June 2016

The best wayto keep on making money in the rental business is to ensure your occupancy rates remain high so it's good these guys know what they're doing!

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