Located in Queensland, Australia, Mackay is a beautiful city with a population of over 100,000 people. Renting in Mackay has been a tough gig.
Why are people moving to Mackay?
It is a popular tourist destination, and rental properties are highly competitive due to its growing economy and attractive lifestyle. This guide aims to provide prospective renters with all the information they need to navigate the rental market in Mackay successfully.
Understanding the Vacancy Rates when Renting in Mackay
Vacancy rates are an essential indicator of the real estate rental market. They refer to the percentage of rental properties that are vacant and available for rent.
Mackay has a declining vacancy rate
In the Mackay region, the vacancy rate for the 2023 period was 0.53%, which is lower than the previous year’s rate of 2.8%. This has made it very hard when renting in Mackay. This decrease in vacancy rates indicates that the rental market in Mackay Qld has become more competitive.
Don’t use social media to purchase a rental in Mackay
Ignore the rentals shown in Facebook Marketplace and Gumtree. Houses are generally more attractive than units, especially pet-friendly ones. Visit the home in person – don’t rely on a virtual tour or photos. It could be anyone’s home.
Average Rent per Week for Homes and Units
The average rent per week for homes and units in Mackay varies depending on the type of property and its location.
As of 2023, the average rent per week for a house in Mackay is \$500, while the average rent per week for a unit is \$500. These prices are lower than the national average, making Mackay Qld an attractive location for renters.
Mackay wages vs Rental Costs
The average person in Mackay earns in excess of $60,000/year, or $800/week. However, if you are in the mines, or work in the Paget industrial estate you could be among the top earners in the state with a huge six-figure salary.
Getting Your Rental Application Ready
A real estate rental application is a document that prospective tenants need to fill out when applying for a rental property. It is essential to have all the necessary documents and information ready to increase your chances of success.
Use the 1Form system
Use the 1Form systemAllowing renters to apply for multiple properties with just one form, the online application is the preferred system of choice for real estate agents trying to find the most suitable tenants for their properties.
Top Tip
Make sure when you’re searching for the next rental that you sign into your MYREA account. By having an account, you can save the rentals you want to apply for later, keep up-to-date on new rentals in the market within your preferred neighborhoods, and contact listing agents to find out more about the property.
Gather your proof of income
Some of the documents required include proof of income, identification documents, and references. It is also important to prepare personal references and have a good rental history to showcase your reliability as a tenant.
Applying Early and Having a Good Tenancy History when renting in Mackay
To increase your chances of securing a rental property in Mackay, it is crucial to apply early. With a competitive rental market, properties can be taken quickly, so it is important to act fast. Rentals in Mackay don’t last for long. There are very few private rentals to find either. Additionally, renting in Mackay requires a good tenancy history and this can make you a more attractive candidate to landlords and property managers. Paying rent on time, being a responsible tenant, and communicating effectively with your landlord are all ways to establish a good tenancy history.
North Mackay Rentals
North Mackay is a popular location given its distance to the CBD. As of June 2023, only 11 rental properties remain on the market. You can rent a 1 bedroom unit for $265/week or a larger home for over $1,000/week.
West Mackay Rentals
It’s a known fact that rental properties in West Mackay can be hard to find given that most buyers purchase in the region to renovate.
Its proximity to the Mackay Base Hospital make it ideally suited to healthcare workers or professional working in the CBD or mining sector.
Some basic rules when renting:
You must
- pay the rent on time
- keep the property clean and undamaged and leave it in the same condition it was in when you moved in (fair wear and tear excepted)
- abide by the terms of the tenancy agreement
- respect your neighbours’ right to peace and quiet
The property owner/manager must
- ensure the property is vacant, clean and in good repair at the start of the tenancy
- respect your privacy and comply with entry requirements
- carry out repairs and maintenance
- meet all health and safety laws
- lodge your bond with the RTA
Renting a property in Mackay can be a challenging process, but with the right knowledge and preparation, it can be a smooth and successful experience. By understanding the vacancy rates, average rent prices, and the importance of having a good rental history, prospective renters can land the home of their dreams. We have access to rental agents at Mackay Real Estate Guide, so if you need assistance, contact us!
