The current rental shortage in Tasmania has created one of the toughest markets we’ve ever seen. Across Launceston and beyond, demand continues to outstrip supply, driving rental returns to record highs and leaving many tenants struggling to secure a home.
At Property Wise Launceston, we’re navigating this climate with care, balancing strong investment outcomes for our landlords with compassion and fairness for tenants. After all, a well-managed property doesn’t just perform financially, it supports people, families, and communities.
A Shortage Driving High Returns
It’s no secret that rental returns are extremely high right now. With fewer properties available, tenants are often competing for quality homes and some are willing to pay premium prices to secure them.
But while it’s tempting to push rents to the absolute top of the market, many of our landlords are choosing a more balanced approach. We’ve seen owners who could easily increase their rent by $50 or $100 a week, decide instead to prioritise tenant stability. They understand that keeping a respectful, reliable tenant can often deliver better long-term results than chasing short-term gains.
Under Tasmanian law, rent can only be increased once every 12 months and tenants must receive at least 60 days’ written notice of any change. We help our clients plan for these increases, ensuring rent remains competitive but fair.
Looking at the Whole Picture
When reviewing rent, it’s important to consider the bigger picture. A higher rental figure might look appealing on paper, but if it results in a vacancy period or turnover costs, the overall annual return can suffer.
Every change of tenancy comes with letting fees, marketing costs, and a few days of vacancy while the property is prepared for new occupants. There’s also the natural wear and tear that occurs when people move in and out.
So when we’re advising our landlords, we look beyond weekly rent and focus on sustainable annual returns and on keeping great tenants in place for as long as possible. It’s a strategy that’s financially smart and socially responsible.
Protecting Vacant Properties
Unfortunately, the shortage has also brought some unexpected risks. With so many people watching the rental market, vacant properties have become targets for theft.
Copper piping, in particular, has been a growing concern in Launceston. Earlier this year, ABC News reported several incidents of copper being stolen from vacant rental homes. As Michelle Williams from @home Property said, “Copper pipe theft is one of the major issues we’ve been dealing with recently. Those responsible are keeping an eye on properties that are being advertised for rent … scoping them out, waiting for them to fall vacant and then going in“.
These incidents don’t just cause property damage; they can also lead to costly repairs and water issues. What’s more, not all insurance policies cover copper theft, and depending on the excess, it might not be worth making a claim.
To protect our clients’ properties, we take proactive measures whenever a home is between tenancies. We shorten vacancy periods as much as possible, schedule maintenance quickly, and ensure every property is secure and monitored.
Compassionate Property Management
Our approach to property management has always been about balance. We want our landlords to enjoy strong returns and confidence in their investment. But we also believe that compassion plays an important role in good property management.
Every decision we make, from setting rent to approving maintenance, is guided by both numbers and empathy. We’re proud to work with owners who share that philosophy, who care about their tenants, and who want to see Launceston’s rental market thrive sustainably.
Supporting Tasmanian Property Owners
As the rental shortage in Tasmania continues, we’ll keep helping our clients navigate the challenges and opportunities it brings. By staying proactive, informed, and community-focused, we’re ensuring properties are protected, tenants are respected, and investments keep performing strongly for the long term.
If you’d like to talk about how we can help you manage your property with confidence and care, our team would love to hear from you. Connect with us today.