RENT RACE: Coast competition reaches record high
HERVEY BAY'S rental shortage is leaving tenants with nowhere to go.
Tara Bradbury, principal leasing agent from Active Agents, said she was aware of tenanted homes selling, with the new owners ready to move in.
This left tenants with no choice but to move out and compete for the limited number of rental properties in the Bay.
Ms Bradbury said demand for rentals was higher than she had ever seen it.
"Properties I have listed between $500 and $600 per week get at least five applications which I have never seen," she said.
Cheaper rental properties were attracting more than 15 applicants, she said.
"I worry about the stress and pressure it is putting on tenants."
Ms Bradbury said a combination of changing habits due to coronavirus, as well as professionals moving to the region, impacted the rental market.
She said people migrated to the Bay for work, noting many medical staff and police were moving to the Coast.
People working from home because of the crisis also influenced the market, Ms Bradbury said, as people may be employed on the Sunshine Coast or Brisbane but work remotely from a Hervey Bay rental.
Ms Bradbury said people chose this remote working option because it meant they could be closer to family in Hervey Bay.
"People are choosing; do I need to live in the city, or I can choose to live where I can have a really good lifestyle?" she said.
"If you can't sell at the moment, think about renting because there is good quality there.
"I think there is going to be a big finish to the year."
She said if people were considering renting, she advised for them to speak to a professional agent and understand what was happening in the market first.