According to The Australian Financial Review, rich Lister Paul Little is counting on new apartment completions and acquisitions to double the size of his property management business over the next three years.
Little Real Estate, which currently manages 24,000 properties for mum-and-dad investors, giving it a national market share of about 1.3 per cent, is aiming to have 47,000 properties on its books at the end of a push that will see it triple its rent roll in NSW and near-double it in Queensland.
Mr Little is counting on tight residential rental markets in the desirable suburbs of the country's three largest cities – compounded by a lack of new supply as developers pull back on new projects after completing their current ones – to boost demand for rental properties.
"I can't see what's going to change in the short term and that's one of the reasons why we've got this incredibly high demand for rental properties," he said.
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