Wednesday, February 13, 2008

Three Year Leases For Brisbane?

As reported in the Brisbane Times:

"Changes to Brisbane's rental market in coming years could see the introduction of a US-style system where three-year leases are quite common, one property analyst believes.

The shortage of rental accommodation in South-East Queensland is unlikely to improve in the short term, signalling a need for change, according to Michael Matusik from Matusik Property Insight.

In the US and some parts of Europe, tenants take out leases that can stretch for years - and sometimes generations.

A similar system would work in Brisbane where soaring prices and plummeting vacancy rates are stretching the rental market, he said.

Currently in Brisbane, the most common lease length is six months - but Mr Matusik believes an increase to at least 12-month minimums is on the horizon.


See article for more detail.

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