Harry Triguboff’s Sydney property management arm has 0.5% vacancy rate

Meriton Group’s property management arm, called Meriton Property Services, says that they have an average vacancy rate of 0.5% across their 3,000 apartments in Sydney.

This compares to the city’s average vacancy rate of 1.7%, according to SQM Research.

Meriton managing director Harry Triguboff said that they have the advantage having built the entire blocks.

He notes that the positioning of the apartments, the generous sizes, and the fact that they’re well-appointed and close to public transport have helped them perform.

In addition they also station an onsite building manager, or caretaker, to each property to ensure that they are maintained correctly.

The 0.5% is a record low for the company.