According to REIWA, Perth’s rental vacancy rate was just 1.7% at the end of September 2026, down from 1.9% in August and 2.2% in July. That is well below the 2.5% to 3.5% range generally considered balanced, and properties leased in a median of around two weeks during September.
But those figures describe the market as a whole, not every individual property. At Abel Property, we’re finding that well-presented, competitively priced homes still attract strong interest, while others are experiencing quieter home opens and taking longer to secure the right tenant. The biggest factor is affordability. After several years of significant rental growth, many tenants are reaching the upper limit of what they can comfortably pay. They’re comparing properties carefully before they apply, and they’re more price sensitive, particularly at the higher end of the market.
For landlords, the question is no longer just “how is the market?” It’s “how is my property positioned within it?”
Getting the Rental Price Right
At the peak of the market, multiple applications after the first home open, and offers above the advertised rent, were common. It still happens, but it’s rare, and landlords shouldn’t automatically expect it.
At Abel Property, our recommendation is to price realistically from the start, based on current comparable listings, recent leasing results and feedback from prospective tenants. The first week of advertising matters most, because that’s when a property gets its greatest exposure. Starting too high and reducing the price weeks later often means unnecessary vacancy and lost income. Consider a property advertised at $750 per week that sits vacant for three weeks, compared with one leased promptly at $725. The extra $25 per week is worth $1,300 over a year, but three weeks of vacancy at $750 costs $2,250. The property priced at $725 finishes roughly $950 ahead.
The highest possible weekly rent doesn’t always deliver the best financial return. At Abel Property, our focus is achieving a strong market rent while keeping vacancy periods to a minimum.
Keeping a Good Tenant Is Just as Valuable as Finding One
When a tenant leaves, landlords can face advertising costs, leasing fees, presentation or maintenance expenses and weeks without rent. That’s worth weighing when you’re reviewing a lease renewal or a proposed rent increase.
This doesn’t mean avoiding rent increases where the market supports them. But a modest increase that encourages a reliable tenant to stay can deliver a better outcome than pushing for a higher rent and risking an extended vacancy.
At Abel Property, we begin reviewing lease renewals approximately 90 days before expiry. That gives us time to assess current market conditions, discuss rental recommendations with our landlords and speak with tenants well before their lease ends, so there are no last-minute surprises.
Why Proactive Property Management Matters
As conditions shift, proactive property management becomes more important. At Abel Property, we believe a good Property Manager should be regularly reviewing your property’s performance, giving honest rental advice and finding ways to reduce costs and protect returns. That includes monitoring rents, planning renewals, completing regular inspections, addressing maintenance, managing arrears and keeping the property compliant with legislation.
For properties being advertised, it also means watching enquiry levels, home open attendance and applicant feedback. If a property isn’t attracting the expected interest, landlords should hear about it early, along with a clear recommendation. Sometimes that means reviewing the asking rent. Other times it’s presentation, marketing or inspection arrangements. At Abel Property, we don’t simply list a property and hope the right tenant turns up.
Presentation plays a part too. Fresh paint, professional cleaning, updated window treatments, better lighting or a tidy garden can all make a genuine difference to tenant appeal, and prompt repairs protect the property and keep tenants happy. That said, we wouldn’t recommend spending money unnecessarily. The goal is to identify where an improvement will actually lift appeal, rental return or long-term condition.
Looking Ahead
Perth’s rental market remains tight overall, but the past few years have been exceptional. As affordability pressures continue to shape tenant behaviour, landlords should expect more variation between properties, with some leasing quickly and others taking longer. That doesn’t signal a weak investment or a market downturn. It reinforces the value of realistic expectations, informed decisions and a long-term approach to property ownership.
At Abel Property, our experienced Property Management team works closely with landlords to navigate changing market conditions. With extensive local knowledge, regular involvement in leasing properties across Perth and a focus on proactive communication, we aim to help our clients achieve consistent rental returns while protecting the long-term value of their investments.
Whether you’re reviewing your current rental return, approaching a lease renewal or considering a change in property management, our team would be happy to assist. Contact Abel Property today for an obligation-free rental appraisal and advice on how your property is positioned in the current Perth rental market.
By Jessica Brewer, Head of Property Management, Abel Property
Market data sourced from REIWA, September 2026 vacancy figures, and October 2026 market reporting.