Ep. 115: Understanding renters’ needs is key to optimising property investment, with Jake Stojcevski

In this episode of the Geared for Growth podcast, host Mike Mortlock is joined by Jake Stojcevski, owner of The Renters Agent based in Sydney. Together, they delve into the dynamics of the current rental sector in Australia, offering insights for both investors and renters on navigating the rental market effectively.

With over a decade of experience across various departments within real estate agencies, Jake brings a wealth of knowledge to the table. Founding The Renters Agent in 2018, Jake specializes in assisting renters in Sydney and Newcastle amidst the challenges of an increasingly competitive landscape.

Throughout their discussion, Mike and Jake explore the rental market from multiple perspectives. Mike shares his recent journey as a new rent-vestor, recounting the hurdles he and his family encountered amidst low vacancy rates and limited housing options. Jake provides valuable insights into landlords’ preferences in rental applications, shedding light on the factors that often grant certain applications preferential treatment.

In light of the ongoing housing crisis, Jake offers his perspective on the types of developments needed to address the challenges at hand. Mike and Jake also deliberate on the potential impact of government interventions, including proposed taxes such as a vacancy tax, on the rental market.

Offering practical advice for property investors, Jake delves into tenant requirements and advises landlords on strategic renovation investments. Mike seeks Jake’s top tips for investors aiming to maximize their rental returns and attract suitable tenants for their properties.

Approaching the conversation from a unique angle, Mike and Jake emphasize the significance of addressing the often-overlooked needs of tenants in the property transaction process. Prioritizing tenant satisfaction is key to ensuring a stable cash flow from investment properties.

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In this episode of the Geared for Growth podcast, host Mike Mortlock is joined by Jake Stojcevski, owner of The Renters Agent based in Sydney. Together, they delve into the dynamics of the current rental sector in Australia, offering insights for both investors and renters on navigating the rental market effectively.

• The current state of the rental market in Australia
• The type of properties that are in demand
• The role of a renter’s agent
• The many reasons why a property owner might decline a rental application
• What tenants are really looking for in a renovated property
• The problem with automation when dealing with people
• Should the Government be intervening in the rental sector?
• Jake’s advice for investors navigating the rental of their properties

“When we talk about construction, building high rises is a mistake because since Covid, one of the lessons that we have found and is quite prominent is work from home options for employees. People don’t want to be cramped in an apartment after being locked down for so long” 4:20

“Investment is a good thing if you have that opportunity to be able to buy and then put someone in there, why aren’t we encouraging more of that? Obviously not everyone’s in a position where they can buy so we need to have an influx of properties coming in for people who will be long term renters” 6:10

“I don’t think they should be forced to rent it to anyone and I guess this is where agents come in. They are employed and that’s their area of expertise to help the owner to go through and really look for that right application to be presented to the owners” 15:54

“We have that advantage in terms of the relationship that’s already built there. The owner still makes the decision, the agent still has to make a decision as well but it helps when you’re not going in cold when you’re dealing with someone” 20:32

“For a landlord you should never be considering who’s the cheapest because if you do that you’re going to get the worst service and I guarantee you’re gonna be unhappy in a couple of months” 24:46

“Only do the things necessary because you’re going to put all this money for things that renters don’t need and you’re not going to get the return on it so some people aren’t having on asking the right questions around that either” 26:48

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