Miles Property Management Update – Market Conditions, Compliance & Insurance
The Melbourne rental market continues to perform quite strongly, with low vacancy rates and properties leasing fairly quickly across all segments. Rents remain high, with particularly strong demand at the premium end of the market. February was a standout month for us, marking our largest leasing period this financial year with 68 properties successfully leased.
A recent highlight includes 13 Lawrence Street, Eaglemont which leased after just one inspection and attracted four strong applications at $1,500 per week, reflecting the ongoing demand for well-presented homes.
Compliance & Minimum Standards
With further rental regulations being introduced this month, compliance remains a key focus for our team. Minimum standards are also increasing from 15 to 19 requirements, making proactive maintenance and preparation more important than ever.
Miles continues to support our clients through trusted compliance partners such as Syncom, offering simple packages to help ensure properties meet all obligations. We will also be hosting a Zoom RRPs information evening on minimum standards soon (date to be confirmed). For further information you can read our comprehensive article regarding the incoming regulations and minimum standards.
Landlord Insurance
We continue to highlight the importance of landlord insurance in protecting investment properties from unexpected events, including property damage, loss of rent, and financial risk. Having the right cover in place provides essential peace of mind and long-term security. For this reason, we strongly recommend that all rental providers consider taking out landlord insurance as an important layer of protection for their investment.
Our Melbourne-Wide Property Management Service
Miles Property Management provides full-service support across Greater Melbourne, including leasing, routine inspections, maintenance coordination, and ongoing Renter communication. Our focus is on making property management simple, transparent, and stress-free for rental providers.
If you have additional investment properties anywhere in Melbourne, our team is well equipped to manage them. Consolidating your portfolio with one agency can help streamline the process, with a single point of contact who understands your properties, needs, and investment objectives.
Overall, the rental market remains strong, with consistent demand, stable high rents, and continued confidence from renters across Melbourne.
