Sale - Conveyancers versus lawyers: What is the difference?
When selling your property, you’ll need to appoint a conveyancer or a conveying lawyer to prepare your sale documents and to communicate with your buyer or their legal representative to effect settlement. Generally, conveyancers and lawyers execute the same procedures and paperwork on your behalf. Conveyancers are specifically – and extensively - trained in property law, while lawyers are full...
PM - Termites are your responsibility
Termites can be a major problem in certain areas but it is essential that you, as the landlord, stay on top of the problem and get regular inspections. Either book in a yearly inspection and let your tenant know or arrange to have the inspection when the property is empty. Here are a few tips to bear in mind and maybe a good checklist to put in your property for future tenants: Wood a...
Sale - Thinking of selling? Please think of us!
Selling a tenanted property brings with it all kinds of challenges, some foreseen and others unforeseen. The first step in the process is to advise your property manager that you have decided to sell the property. The next step is to find a suitable real estate agent to manage the sale. It makes sense to chat with your current property manager and ask to talk to the relevant sales personnel to...
PM - The art of marketing rental property
As a landlord, your main aim is having your property leased promptly for a great weekly rent to a responsible tenant. With housing prices on the rise and young people increasingly unable to break into the property market, leasing is becoming a permanent – and popular - lifestyle choice for many. In theory, more prospective tenants should make leasing property a simple and quick affair - but thi...
PM - The benefits in having great tenants
Most landlords are aware that great tenants pay their rent on time. But a number of investment property owners don’t know there are other benefits in having great tenants. In addition to paying the rent on time (which allows you to pay your mortgage on time) having great tenants also promotes goodwill within the community (imagine how you would feel if your neighbours at home were investors and...
PM - The supply of appliances in a rental property
When leasing out your property, appliances like air-conditioning, gas heaters, dishwashers and sometimes fridges are often made available for use by tenants. Should these appliances be supplied, some simple rules need to be understood as to avoid any surprises down the track. Should an appliance break down, it will need to be repaired or replaced as soon as possible. Failing to do so can resul...
PM - Tips to boost your rental yield
Securing strong rental yields from rental income should be the strategy of many property investors. Strengthening this further does not always have to wait until market conditions improve. Here are a few tips to consider: • Adding security – ensuring that doors and windows have good key locks, and even adding a security alarm provides peace of mind and sense of wellbeing and safety. Tenant...
PM - Leasing at shortest time
To ensure your property is leased in the shortest possible time, to the best possible tenant, for the best possible return, we undertake these three steps These steps are: PRICE – When your existing tenant gives notice to vacate, your property manager will conduct a market rent assessment of the property and make a recommendation in relation to the rent that the property should be marketed ...
Warming up in winter
It’s getting close to that time of the year when the first ‘chill’ starts to creep into the air and you might be thinking it’s time to get the winter woolies out! With the rising cost of power, it’s a good time to think of ways to save cost, for both yourself and your family at home, as well as your tenants! Here are some questions worth some thought: • Does your rental property have heating...
A few simple tips to improve your home’s value
Before selling, there are a number of quick fixes to help you maximise the appeal (and selling price!) of your residence. Some of these tips are more costly than others, but all will help to create a great first impression. De-Clutter: Make your property appear light, spacious and welcoming by decluttering throughout. This means removing knick-knacks, ornaments, photos and even furniture – fr...
PM - What does rental yield mean?
Rental Yield is a measure of how much cash [or rent] your property produces each year, as a percentage of the property value.The property investor dream is to secure a high rental yield property, in a location that delivers large capital gains, combined with low management and maintenance costs. This means, rental yields are not the only consideration when purchasing an investment property – bu...
PM - Behind the scenes: What happens at a routine inspection
So, your property manager is overseeing your portfolio – answering your tenants’ queries, collecting rent and of course, carrying out those all-important routine inspections to make sure everything is ship shape. But what exactly goes on behind the clipboard? When your property manager visits your properties for inspection, they are of course checking your tenants are looking after the hom...
PM - Why liability should be top of mind as a landlord
Owning an investment property is an exciting and rewarding experience and in most cases tenants look after the property, pay their rent on time, and reside safely and comfortably in your property. However it’s not always smooth sailing. Like you, tenants are only human and accidents do happen, so protecting yourself against liability should be on the top of your mind. Compliance and liabili...
PM - Why we recommend top-up cleans
In all cases a tenant is required to leave a property reasonably clean and as Property Managers we ensure this is the case… however in our experience there is the general living ‘wear n’ tear’ that after a few tenancies raises problems. Even after a few tenancies – when a property is handed to us thoroughly cleaned at the end of the tenancy, it isn’t as clean as it was when the first tenant mov...
PM - Would you be adequately covered if something were to happen to your investment property?
With summer almost upon us, the risk of bushfires and storms increases dramatically. Now is the time to check the extent of insurance cover you have on your investment property to ensure you would be fully protected should the worst happen. Things to check are: • The extent of cover - Does your policy include building, contents (in the case of a unit), legal liability, loss of rent and mali...
PM - ’Tis the season for disasters!
As Australia enters the disaster season, landlords and Property Managers should make sure they are ready should Mother Nature unleash her wrath. The image of an Aussie summer might be beaches and barbies, sunsets and seagulls stealing chips, but the reality is that as the weather warms up, so does the chance of natural disasters striking. The risk of cyclones, storms, floods and bushfir...
Finance - Bridging finance
Congratulations are in order: you’ve successfully bought the house of your dreams and need to settle in 30 days. Your only concern is that you’ve not sold your own home yet, and the likelihood of achieving settlement within 30 days is low. What to do now? Bridging finance might be the solution you’re looking for. A short term loan whose purpose is to ‘bridge’ the gap in finance between propert...
Does having a pool increase the value of a property?
With summer around the corner, you’ve no doubt thought to yourself how nice it would be to take a dip in your own backyard pool. Real estate agents often get asked if the addition of a pool will increase the value of a home. There is no clear answer as it often depends on what the buyer is looking for. Not everyone values a pool (especially those who have had one in the past) as maintenance c...
Five signs it’s time to move...
Can you feel it? That insistent, recurring desire to pack up, move on and start a new life in a new home? One thing’s for sure: if the ‘it’s time to move’ bug hits, it’s only a matter of when – not if! Here’s our top five signs it’s time to start thinking about starting over and selling your home: 1 You’re pushed for space As families grow, a home that initially felt like a spacious mansion c...
Sale - Get pre-approval and secure your new home
Many of us have been there. You’ve found the perfect house – the one that you’re convinced has been set aside just for you. You’re walking through the open for inspection as if it’s yours already, imagining where your furniture might fit, dreaming of happy family celebrations, interior design projects or raucous parties to come. Then you spot your ‘competition’ talking to the agent, and you ov...
Growing pains
On average, the Australian homeowner moves every eight years. Their reasons are various – but they usually have to do with a change in personal circumstances. Perhaps there’s a new addition to the family. Maybe the kids have left for Uni, and a home now feels too large. Separation and retirement are also reasons to move on. Many people find the decision to sell beloved homes difficult – not on...
Sale - Instant cosy: Preparing your home for a Winter sale
Brrr! It’s cold outside! Make your home a welcoming respite from the cold, instantly comforting and connecting with potential new owners. Preparing your home for sale in Winter takes a little time and preparation – but the small details count when it comes to winning the hearts of the buying public. Freshen up Light, bright spaces appeal against the contrast of cool, early nights. Give your h...
Sale - Looking at selling? Don’t make this mistake
Dreaming of an outta-sight price for your property? Be careful, it might cost you! When settling upon a ‘ball park figure’ you’d like to achieve for your home, do your research. Working with your agent, explore similar homes in your area – taking into account differences in location, modernity, structural integrity and design – and think about what buyers want. Pricing your home too high – or g...
To renovate or relocate?
It’s a position all home-owners find themselves in at one time or another: the home you love no longer suits your needs, but you don’t want to leave the community you’ve grown attached to. You’re in a conundrum – should you renovate or relocate? Perhaps you’re worried that you won’t be able to purchase the kind of residence you need in your home suburb, and renovation looks an appealing option....
The chicken or the egg: To buy or sell first?
The eternal real estate question: should you buy a home first, or should you sell? When pondering your sales process, don’t forget you’ve a third option too – leasing your home. Perhaps you have enough equity to retain it as an investment while purchasing your next residence! For more information on the market value of your property and its potential rental, make sure to contact our agency. Wo...
PM - SMSFs and property investment – your way
Like many would-be investors, you have worked hard to pay down the mortgage on one property (say, your principle place of residence) which has left you with little ready cash to fund building a property portfolio. It’s easy to feel like your hands are tied when you don’t want to sell your valuable key asset, but know you need to plan for the future through property investment. Another avenue ...
Sale - Renovations that add the most value to your home prior to a sale
If you're considering shifting to a new home in the near future, it’s possible a renovation could help you attract more buyer interest and ultimately a higher selling price for an existing house or unit. So, if you feel your home is looking tired and in need of a facelift, the chances are buyers will too. But before taking a hammer to a wall or firing up the circular saw, it is worth consideri...
Our tips on home improvement: when to invest, when to resist
Perhaps you’re thinking about bringing your home to market – either now, or in the coming year. There’s a few odd jobs that you’d like to take care of before you do so, to create a good impression, attract buyers and – hopefully – to assist you achieve an outstanding sales price. Vendor, be warned: whilst there are certainly some basic home improvements which will make your home appealing and m...
PM - SMSF property investment – but is it for you?
Self Managed Super Funds (known as SMSFs) are becoming increasingly popular among Australians, with statistics identifying that four new SMSFs are created every hour. The key benefit of a SMSF is that investors have total control over their finances, making all investment decisions for their fund. Using an SMSF to buy property is an attractive option, but one which requires careful conside...
PM - Researching the area in which you plan to invest is paramount to maximising your return
Some of the questions you might ask a professional property manager include: 1. What type of property has the highest demand in the market? 2. Which properties see the lowest turnover of tenants? 3. Which times of year see the highest enquiry rates? 4. What is the demographic of the majority of tenant enquiries? 5. What are the key property attributes they are looking for...
PM - The cheapest quote from a contractor is not necessarily the best choice
When appointing a contractor to do work on your investment property we take into consideration a host of factors determining contractor's suitability to do the work. Other than price the following must also be taken into consideration: Is the contractor licensed to complete work for that trade? Is the contractor insured? If the contractor is not insured you carry the risk. Can the contractor...
Financial - Need a new loan? Here are 4 hot tips to increase your chances of approval
For well over a year now, we have seen a significant credit tightening for property investors. To make a strong case in a mortgage loan application, there are a few things you can do to assist. Here's our list of what you can do to make the strongest case possible and increase your chances of a loan approval. Do your research and shop around Make sure you research rates through traditional ba...
PM - Insurance for the storm
Summer in Australia – it can mean bone-dry blue skies for weeks on end (sometimes resulting in fires), or stormy, tropical deluges that carry away gardens and flood homes. Just as your own residence is insured for Australia’s extreme seasonal weather – make sure you take out appropriate landlord insurance to secure your secondary key assets. Landlord insurance is an essential contingency plan...
PM - How to protect yourself from a “birthday cake clause”!
A cheeky joke by a tenant dealing directly with an unsuspecting landlord highlights the perils of electronic tenancy agreements. In what was meant as a joke, tenants in America doctored their rental agreement to include a clause requiring the landlord to supply them with birthday cake on the weekend closest to each tenant’s birthday. The tenants received a draft copy of their lease agre...
Sale - 4 Home selling myths: Busted!
When it comes to selling property, everyone’s got an opinion. From your trusty neighbour, to your well-meaning Uncle and even your workmates, too. Before you become paralysed with confusion by the conflicting advice given by friends and family, make sure you’re not basing your decision on kind – but inaccurate opinions based on popular real estate myths. Here are four of the most common myths a...
Finance - Understanding how to manage your money is critical
Understanding money management is critical whether you are an investor or you may have also a range of other investment holdings. The main principle that underpins effective management of your money is making sure that once you’ve worked hard to earn your money that you put it to work for you. Here are three finance hacks property investors should engage to make sure your investments are worki...
Finance - Re-visiting your mortgage could improve your financial future
What better time to think of improving your financial future than now? Lenders are offering discounts to attract new customers. Re-visiting your mortgage can mean savings which in turn can help improve your overall finances. However, it has to be done systematically. If you don't have the time or the knowledge to undertake the exercise yourself, seek professional help. First, it is importan...
PM - Why location is an important factor when investing in property
If you're looking at property investment, two of the most important factors for your consideration should be high growth rates in property values and relatively high rental returns. Many people naturally assume the best investment properties are located in areas where there are high growth rates in property values. However this isn’t necessarily the case as it neglects to include the impor...
Downsizing and upsizing: pros and cons
You love where you live: you’re on a first name basis with your whole street, your neighbours check on your home when you’re on holidays, your community is your happy place. The only problem? You’ve outgrown your home. Whether that’s because your family has grown and your residence is bursting at the seams, or because your adult children have left the nest …. deciding how to tackle a residence...
Sale - Will a garden grow the value of your home?
Spring is usually a time when many sellers like to conduct open homes, because the weather is pleasant and the garden, if there is one, is at its best. A nice garden might attract more potential buyers but does it add value to your property? A new garden can be quite expensive. It’s very easy to spend up to $10,000 and beyond on paving, landscaping, planting and reticulating a typical home. C...
Sale - Why selling in winter may give you an advantage
After a searing Australian summer and warm autumn, winter comes slowly across the country bringing relief in the form of cooler days and gardens in shades of gold and red. Now is the time that many families and investors consider selling. Counter-intuitively, the cooler months are a great time to capitalize on your home’s value if you’re looking to upsize, downsize or move on to something dif...
Sale - Subject to… your decision
Here’s your conundrum: you’ve been presented with two hot offers on your property. Offer A is stellar – it’s a full $10,000 more than offer B and looks very tempting. There’s a catch, however: offer A is subject to both a building inspection and a finance clause – a period of 14 days has been requested by the purchaser to settle these matters - in addition to settlement of 60 days. Offer B is ...
Sale : Looking at listing your property in Spring?
Looking at listing your property in Spring? There are good reasons why agents choose this as the perfect time. Across Australia, buyers have increasingly itchy feet and tingling bidding fingers! The motivation to make lifestyle decisions reaches its zenith in spring, traditionally acknowledged as the busiest and most robust season of the real estate sales year. If selling property is on the ca...
PM - Getting budget right for your investment property
Be careful when considering renovations and take the advice of your property manager as to what type of renovations will increase the rental value and what tenants actually desire in their search for a rental property. By knowing what tenants are looking for and tailoring your renovations to market expectations, you are spending your time and investment dollars towards deriving additional i...
PM - Why ingoing and outgoing condition reports are so important
Other than the Tenancy Agreement, the Ingoing and Outgoing Condition Reports are two of the most vital documents to be held during the management of your property. At the ingoing and outgoing stages of a tenancy, landlords may be preoccupied with getting the tenant in quickly to minimise vacancy. Similarly, when a tenant vacates the premises, the focus is often more on selecting the next te...
PM - RRP Reducing your risk
Being a landlord offers many benefits: amongst them, a time-proven way to build wealth via the security of ‘bricks and mortar’, plus the potential to reduce your tax liability whilst retaining an asset of considerable value. It isn’t all beer and skittles though – being a landlord can also place you at risk should you ignore your responsibilities towards tenants’ welfare and safety. Ignoring in...
PM - Pet-ty insurance claims
Considering going ‘pet friendly’? The risk of damage might not be as big as you think. Australians have one of the highest rates of pet ownership in the world, encouraging strong debate about whether or not it is good idea to allow pets into rentals. Landlords who are considering opening up their market by going ‘pet friendly’ can take comfort from the latest RentCover claims statistics. Sh...
PM - Raising the rent: When and how
When you have a portfolio of investment properties, staying on top of the rental market activity associated with each of their locations can be a herculean task. If you want to ensure that each of your investments are yielding the maximum returns possible, you’ll need to remain in close communication with your property manager to absorb market trends. Part of knowing when it’s time to raise th...
PM - Repairs and Maintenance
All homes will need upkeep from time-to-time. When routine inspections are performed, your property manager will identify any items which may need repair around your investment property. Your tenant may also occasionally report items for repair during their lease, which is to be viewed as a positive sign of open communication – there’s nothing worse than discovering a small problem (i.e. a...
PM - Sustainable investment property: why going green counts
Caring about the environment we live in: it’s not merely the concern of your dread-locked cousin or raw vegan best friend. Increasingly, savvy property investors are turning their focus towards ‘greening’ their assets – driven not only to reduce their environmental footprint, but to improve their return on investment in the long-run, too. Here’s why your investment property eco-friendly makes p...
PM - Looking to maximise your rental property’s appeal to tenants?
Unlike purchasing a property for you and your family to live in, investment purchases need a different thought process and should be approached with your head and not your heart. Some of the features that you may value in your own home, may not necessarily appeal to potential tenants. You need to think like a tenant and buy a property that meets their needs. Here are five tips for purchasin...
Sale - How do you judge the value of a property?
When it comes to judging a property to get a reasonable indication of its value and probable sale price there are three options you might consider. First – a real estate agent can give an appraisal which is largely an educated opinion based on their current sales experience and local knowledge. This is informal but usually pretty helpful as an indication. Owners should be aware, however, some ...
PM - Resolving disputes with tenants – Agree to disagree
Whether concerning rent reviews, outgoing condition reports or maintenance requests, there are often disagreements between landlords and tenants. Before you consider rushing off to the tribunal, work with your property manager to negotiate a happy outcome with your tenants. While you may consider your case for remuneration solid, tribunals are notoriously fickle: they make decisions on a case-...
PM - RRP basics: How do bonds work?
A rental bond is a sum of money – usually equating to four to six weeks’ worth of rent – paid by tenants upon commencement of their tenancy agreement. It provides financial security for the landlord in the event that a tenant breaks any clause of the rental lease, which could include damage to the property or unpaid rent. A tenant’s bond is held by the Residential Tenancy Bond Authority th...
PM - How to make tax time go smoothly
Tax time is here again and that means many property investors are going through the process of completing their tax return, or having it completed by a tax accountant. To make sure your tax time goes smoothly, there are things you need to do throughout the financial year. Here’s are the two most important things you need to do to save potential headaches when you complete your tax return. Cons...
PM - How do we screen a prospective tenant for your property?
All prospective tenants who apply for a property with our company are firstly required to inspect the home. The purpose of this inspection is not only for them to view the property and check its suitability but for the agent to meet them and get a “feel” about them. This initial inspection is like a silent interview. It gives the agent a first impression of the prospect - how well they pres...
PM - If only I’d taken out insurance
One of Australia’s leading landlord insurers recently settled more than 5,000 claims – with a total value in excess of $16.5 million. For the mathematically inclined, around $3,300 paid out per claim. Of course, that’s an average and many claims were of lesser value while others were substantially more. And while many landlords would be able to ‘find’ the $1,175 one policyholder was paid to f...
PM - If your property became vacant today, what rent would be achieved?
Tenants are better educated today and are aware of the going rate for a certain type of property in a given location. This information is readily available to them simply by navigating the various Internet sites available. In our experience, properties for which investors increase the rent to above market levels have higher vacancy rates than those for which rents are maintained at or slightly...
PM - Three handy tips to help you rent out your investment property
Renting out your property for a reasonable price and turning it into a successful investment can be challenging, especially in the current market. We share some tips on how to make improvements to your home to get a tenant in as quickly as possible and obtain a rent price that works for both parties. 1. Make some home improvements If your investment property is a little older, it may benefit ...
PM - Owning an investment property is an exciting and rewarding experience!
In most cases tenants look after the property, pay their rent on time, and reside safely and comfortably in your property. Unfortunately, not all cases run smoothly. Like you, tenants are only human and accidents do happen, so protecting yourself against liability should be on the top of your mind. Liability and compliance are key focal points for those who own an investment property. Y...
PM - Is it advisable to allow pets into your rental property?
It is natural for property investors and property managers to be wary of allowing pets into a rental property based on prior experiences or concerns over what damage could occur to the property. Should you decide not to allow pets in your investment property, this should be incorporated in pre-tenancy marketing to avoid any confusion by prospective tenants which could hinder or delay the tenan...
PM - Is it time to review the performance of your investment portfolio?
Or perhaps you’ve received some advice to consider investing in property. Either way, it’s important to know that your investment goes beyond the initial cost of purchase and the best way to do that is to plan ahead for ongoing expenses. Planning for ongoing expenses, such as maintenance and repairs, will ensure you don’t find yourself under financial pressure throughout your tenant’s occup...
PM - Is your investment property ready for winter?
With Winter just around the corner now is the time to ensure both your investment property and your home are adequately prepared. The following checklist will help you tick off the most important areas to consider. Insulation – ensuring your home is well insulated and protected from draughts will not only make for happy comfortable tenants and family members, but it will also reduce energy ...
PM - Is your investment property the best fit for its location?
Researching a town or suburb in which you plan to invest in property has a direct result to maximising your return and enjoying reduced transactions and stress. Some of the questions you might ask a professional property manager include: 1. What type of property has the highest demand in the market? 2. Which properties see the lowest turnover of tenants? 3. Which times of year s...
PM - It’s much better to be safe than sorry
Your property manager is required by Law to ensure that your lease complies with current legislation whenever you enter into a new Lease Agreement. Why? In today’s leasing environment there are a number of compliance issues that must be addressed before entering into a Lease Agreement. Some of these compliance issues could be new and therefore they may not have affected you before. Issues ever...
PM - Old or new properties – what’s the best investment?
It can be quite a daunting task to try and evaluate what property to buy when building up your investment portfolio. Do you buy new properties or old properties? Do you buy a unit or a house? Do you buy in an established area or a new development? Of course all of the answers to these questions can only be answered by your personal preferences but there are a couple of important things ...
PM - What do you do when things go bad?
Property investment poses risks, like any type of investment, and one risk that can never be completely eliminated is the chance of having a bad tenant. This can either happen when a bad tenant has given false information that was missed at application stage, or they were previously a good tenant but their circumstances changed resulting in bad outcomes for the landlord, agent and also them...
PM - Once bitten, twice shy
Do you have a preference when it comes to pets in your investment property? Some landlords take exception to animals in or on their property, whilst others consider potential tenants (and their pets) on a case-by-case basis. It can be particularly difficult for a landlord who has had a tricky experience with pets in their rental property to consider doing so again – but depending on the tenant...
Our dream home is?
Where we choose to live affects every aspect of our life whether it is where we work, where our children go to school or the types of friendship and family networks we develop. A recent report by the Grattan Institute has highlighted exactly what Australians want in a home, in other words their ideal property if there were no monetary/lifestyle restraints. The on-line survey of 706 participan...
Get peace of mind from regular termite checks
Causing more damage to Australian homes than fires, floods, storms and tempest combined, termites are property enemy number one. And the damage they cause is not covered by property insurance.They may only be the size of half a match head but they have a voracious appetite that would put a Masterchef judge to shame and can devour a home in just three months… Termites…White Ants… whatever yo...
PM - Professional marketing may get your property leased faster. Here’s why…
As is the case with properties listed for sale whereby well-marketed properties almost always sell faster than those that lack the marketing edge, the same is true for properties listed for lease. Why? It’s all about standing out from the competition and appealing to the right audience (buyers in the case of properties for sale and tenants in the case of properties for lease). For example, fea...
PM - When fixtures and fittings should be updated
Some of the things that start to show their age quickly in property are fixtures and fittings. While some fixtures and fittings may need to be updated due to damage or a fault in the item, knowing when to update things in your home is important. This keeps your home in excellent condition before you need to make major updates. Firstly, if you’re unsure about all of the fixtures and fittings in...
PM - Retaining great tenants
The ultimate goal of a property investor is to yield a strong rental income in line with the quality and size of their property, reflecting market trends. The best way to ensure your investments are working hard to build your wealth is to aim your efforts at retaining quality tenants, avoiding damaging periods of lost rent should your property become vacant. Focus on developing an open, re...
PM - Security first
If you’ve ever had your home or car broken into, you’ll know it’s a deeply unsettling experience. More than just the value of the objects stolen, the knowledge that your space or property has been intruded upon is worrisome. With that in mind, have you given your investment property a security audit recently? Making sure your investment property is well secured is important for several reason...
Sale - Selling a leased property
Occasionally, life plans change. You may have signed a lease agreement fully intending on owning the property for its duration – but you now realise that you need to sell your investment before the lease expires. What to do? Firstly, make your plans known to your property manager and inform your selling agent that there is a lease in place. Unless mitigating circumstances allow, your tenan...
PM - Spring cleaning your investments
Spring is upon us, and while the warmer weather and brighter days bring a smile to everyone’s faces, as a landlord, it’s time to get busy on your investment property. A little spring maintenance done now can make all the difference to both your hip-pocket and your tenant in the hot months to come! Inside Safety and compliance are your watchwords when it comes to a springtime spruce insid...
PM - Strategic lease renewals reduces risk & optimises annual yield
Managing your lease is a lot like running a business. When running a business you need to ensure you have adequate cash flow coming in to the business to pay your bills and finish the financial year in the black. Managing a lease is no different. It’s all about managing cash flow. A fixed term lease will always give you greater peace of mind and control in relation to your cash flow. When...
PM - Energy efficient appliances
Energy efficient appliances In a world where energy efficient appliances and strategies can impact so many areas of our lives, we need to be more conscious than ever before of saving money and protecting the environment. Not just for ourselves and our own homes but for our tenants and investment properties. Here are a few tips to help in the home: – Switch to energy efficient light bulbs –...
PM - Depreciation deductions can make a difference to cash flow
Depreciation deductions can make a difference to cash flow The Australian Taxation Office (ATO) allows property owners to claim depreciation, or decline in value, as a deduction. As a non-cash deduction, depreciation is often missed. With tax time approaching, property owners should be sure they are claiming all the deductions to which they are entitled. Owners of income-producing ...
PM - Don't allow your investment property to deteriorate
Don't allow your investment property to deteriorate Allowing your investment property to deteriorate over time is a big mistake. While in the short term it may be tempting to save money on regular maintenance, in the long run neglecting the property will prove very costly. Your investment is less likely to increase in value as much as others, the rental income will be lower and t...
PM - Gardens and investment property: Whose responsibility is it anyway?
Gardens and investment property: Whose responsibility is it anyway? Many a tenant and landlord relationship has become fraught with tension over the issue of gardening maintenance. Particularly when a property has once been a landlord’s treasured principal place of residence, with roses and lawns carefully tended. Gardens can be a real asset to an investment property, attracting tenants wit...
PM - Convenience is still the winner
Convenience is still the winner Rental Demand: What really separates rental properties in the minds of tenants, and what will they actually pay more for? As trends change, the answer to this question changes and as we continue to search for improvements in returns for our owners we’ve been asking tenants at opens about their likes, needs and wants. Here are some of the things (both old an...
PM - False economy: Why cheap property management is never a saving
False economy: Why cheap property management is never a saving Everything’s looking excellent with your property. Tenant funds are paid like clockwork into your account, you barely ever hear from your property manager with any concerns, and any small maintenance issues are fixed quickly and inexpensively.The maintenance of your investment property is clearly a breeze; so much so that w...
PM - Don’t DIY – Why landlords shouldn’t attempt their own property management
Don’t DIY – Why landlords shouldn’t attempt their own property management If you’ve been lucky enough to have a few good sets of tenants in your rental property - and a number of years have passed with few maintenance issues - you might be tempted into trying to self-manage your investment properties. Don’t be hasty: although it might seem like plain sailing, your property manager’s exp...
PM - Do you have adequate landlord insurance
Do you have adequate landlord insurance cover? As property managers with some experience, we advise our landlords to take out Landlord Insurance to ensure they are protected from financial risk, however selecting a Landlord Insurance policy and provider that offers adequate cover is the landlord’s responsibility. Making an informed decision can be easier said than done. Property in...
PM - Fair wear & tear and what it actually means for tenants
Have you ever wondered what the term “fair wear and tear” actually means when it comes to making allowances for tenants? Some landlords question us when we tell them that we are required by law to make an allowance for fair wear and tear in their property. Unlike what you may think, this is by no means an excuse to let tenants get away with damaging your property. The fact is, the ...
PM - Benefits in doing regular inspections
The benefit in doing regular inspections of your property Most of us make New Year’s resolutions every year saying we will (amongst others): • Join a gym and get fit; • Spend more time with the family; • Give up smoking; or • Save more money. Why not add a property inspection into the mix? You can tell whether you have any short or long term maintenance issues, wheth...
Finane - ATO cracking down on investment property deductions
ATO cracking down on investment property deductions Just in time for the end of the financial year, the Australian Taxation Office (ATO) announced it would be sending letters to an increasing number of Australians who need to explain investment property deductions in their tax returns. This increased scrutiny of tax returns for Australians who make deductions for an investment property co...
Finance - Check the health of your investment finance
Why it pays to frequently check the health of your investment finance The days of the ‘set and forget’ home or investment loan are long gone and now more than ever, it’s up to us as consumers to stay vigilant when it comes to mortgage rates (or interest rates of any kind for that matter). To demonstrate the difference a phone call to the right person can make, let us share this sto...
PM - DIY and duty of care
DIY and duty of care According to new research from various online sources, Australia is feeling the ‘Block Effect’ in many other ways; mostly causing homeowners to think about renovating. Many online job posting sites recorded upswings in various home improvement job related postings online. Amazingly there was also a large correlation found between the types of projects seen on “The Blo...
PM - Disadvantages in constantly changing property managers
The disadvantage in constantly changing property managers Landlords expect their property manager to have the knowledge and time to offer them sound professional advice about their investment property and personalised service they can trust. Trust and knowledge about your personal situation are built over time, therefore chopping and changing property managers is not a good idea. A...
PM - Don’t push the friendship: Leasing to family and friends
Don’t push the friendship: Leasing to family and friends It all seems simple enough: you have a property and you’ve also got a friend or family member who’s willing to lease it from you directly. You don’t need to bother with a property manager, right? Wrong. In a perfect world, every lease between friends or family would be a simple affair – but in the complex real world, ‘freestyle’ leas...
Clean now, save later
Clean now, save later While property managers make it clear to tenants that they must clean their leased property to a high standard before they vacate, condition reports do allow for inevitable wear and tear on a rental property after long leases and multiple tenants. A property can appear to be scrupulously clean at first glance, but the natural aging of high-use areas such as h...
PM - Expenses can you claim on your rental property
What expenses can you claim on your rental property? As an owner of a rental property, you are entitled to claim tax deductions for some of the expenses you incur while your property is rented or available for rent. To work out what you can and cannot deduct from your tax, you need to understand which expenditure category your costs fall into. The three categories are: ...
PM - A common problem for investors is to mistake cheap fees for quality service
A common problem for investors is to mistake cheap fees for quality service In property management we see many property investors making the mistake, thinking that all real estate companies are the same and all offer the same service, so the best way to differentiate between them is to get cheaper fees. We have found a common pattern among agents is the cheaper they get, the lower their s...
PM - Are you prepared for tax time?
Are you prepared for tax time? June. Where has the year gone! Tax time is quickly approaching and we suspect you may have already fished out your calculator, or called your accountant, and gotten busy with number-crunching your income and expenses for this year. If you are a new property investor, “Income” includes the amount of rent you receive for the property on an annual basis...
Building inspections: Not just for buyers
Building inspections: Not just for buyers When you purchased your investment property or home, did you use the services of a building inspector? Increasingly called upon to highlight the potential vulnerabilities of a property, qualified building inspectors have the know-how to look beyond the fresh paint and carpets and to zone in on any maintenance issues to come. Think: slowly rott...
Bushfire season is on us again and 8 in 10 owners may be underinsured
Bushfire season is on us again and 8 in 10 owners may be underinsured As disaster season may be upon us again, landlords and Property Managers should make sure they are ready should Mother Nature unleash her wrath. Drought conditions, unseasonably warm weather, below-average and above-average rainfall in parts of the nation have heightened the risk of bushfires. The season has started i...
Body corporates: The basics
Body corporates: The basics Body corporates: everyone’s got an opinion on them! The role of a body corporate (also known as an owner’s corporation) is to ensure that a communal building (i.e. one with apartments or units and communal spaces) is well maintained. They typically take care of insuring a building adequately, cleaning and lighting any communal areas, arranging garden maintenan...
PM - 8 tips to attract top tenants
Tenants moving out and it’s time to re-let the property?Here are eight top tips to ensure your property is as well-presented as possible. 1 Street appeal is of paramount importance. You should ensure that your windows, doors and gutters are clean and that your pathway is clear. External paintwork should be touched up and endeavour to keep your garden looking healthy and well maintained...
PM - 5 top tips for buying an investment property that appeals to tenants
5 top tips for buying an investment property that appeals to tenants In contrast to purchasing a property to live in, buying an investment property needs to be approached with your head – not your heart. Features that you may desire in your own home, may not necessarily appeal to prospective tenants. You need to think like a tenant and buy a property that meets their needs. 1...
PM - A mouldy issue
A mouldy issue Mould in rental properties is a tricky topic which often comes to the fore during the cooler months. A lack of ventilation, various building faults and cold, damp environments can cause excess moisture to collect, resulting in exterior or interior mould problems. Here are some ways to help prevent the growth of mould in your property: • If mould is present, provid...
Apartments vs Houses: What's a better investment
Apartments versus houses: What’s a better investment? Thinking of buying a new investment? When it comes to property, both houses and apartments can make fine portfolio pieces. As with any investment, it’s the numbers that need to add up first – not the property’s status as an apartment or a standalone residence. Whether you’re buying rurally or in a hotly-contested suburb –make sure...
REB Press Release : Hema Ramoo, REB Finalist Property Manager of the Year - Regional 2020
RAM International has been named as a finalist in the REB Awards for Property Manager of the Year - Regional The Real Estate Business Awards, with Principal Partner ListReady, showcases the industry’s most prestigious accolades recognizing excellence across the entire real estate industry. The awards pinpoint professional development and innovation, showcasing both the individuals and fir...
Better safe than sorry
Better safe than sorry: landlord insurance All homes will need upkeep from time-to-time. When routine inspections are Word to the wise: if you’re leasing a property without a current landlord insurance policy in place, you are putting yourself at huge financial risk. Although one hopes that nothing should go awry with your lease or your property, it is best to have the safety net of...
PM - Attract and keep good tenants
Attract and keep good tenants Throughout the country, demand for rental properties by tenants usually outweighs the number of properties available. This supply and demand does fluctuate and can be seasonal. December and January is an example as it seems to be when people are moving into or out of the area with their work. However, no matter what the demand, we need to be attracting and k...
Appropriate cover for your investment property
Would you have the appropriate cover if something were to happen to your investment property? With summer upon us, the risk of bushfires and storms increases dramatically. Now is the time to check the extent of insurance cover you have on your investment property to ensure you would be fully protected should the worst happen. Things to check are: -- The extent of cover - Does ...
Anxiety when you hear the word ‘vacancy’
Do you sense anxiety when you hear the word ‘vacancy’ with your investment property? While the aim should be to keep your vacancy periods to a minimal amount of time to ensure steady cash flow, a property vacancy does in fact have an upside. How? If your property is on the brink of becoming vacant it can be a perfect opportunity to assess any potential to add capital value by making so...
A wuff deal: Leasing to tenants with pets
A wuff deal: Leasing to tenants with pets There’s an old saying in showbiz and property investment … never work with animals or children! Many landlords have concerns about leasing to tenants with animals, as they are worried about wear and tear on their asset – perhaps as a result of a negative prior experience with pets in their investment property. Despite their ‘bad rap’, people ...
PM - 5 New Year’s resolutions for Rental Provider
5 New Year’s resolutions for Rental Provider With the New Year approaching, our minds are buzzing with resolutions to make 2019 a great year. As a landlord, there are a few goals you can set yourself to boost the chances of having a seamless and profitable year ahead. 1. Take care of outstanding maintenance before the financial year’s end Plenty of properties have a few small iss...
PM - A sad but classic case which highlights the need for landlord insurance
A sad but classic case which highlights the need for landlord insurance Not all insurance claims are for tenant damage or rent default. You may have heard about the real estate agent in Perth some time ago who held a viewing of a property with a number of prospective tenants in attendance. The unfortunate property manager did try to get in touch with the existing tenant, but failed to mak...
PM - A quick guide to the difference between accidental damage, malicious damage, deliberate damage and wear and tear
A quick guide to the difference between accidental damage, malicious damage, deliberate damage and wear and tear A common query we often receive from Landlords is ‘what is accidental damage and how is this different to malicious damage, deliberate damage and/or wear and tear?’ From an insurance perspective, we define them as per below: Accidental Damage An unexpected or sudden loss. Th...
PM - How to Prepare Your Property for Rental?
Some Tips On How To Prepare your Property For Rental A well-presented property in the market shines out and attracts like-minded tenants. Under the Victorian Residential Tenancies Act, landlords are responsible in presenting property in safe, clean and occupy able condition. This also helps to boost a better rental income, attract quality tenant and a less stress free leasing process. Here as ...
A stitch in time saves nine
A stitch in time saves nine The phrase “never put off for tomorrow what may be accomplished today” carries particular weight for landlords in spring. Have you been putting off any maintenance jobs that you’ve been made aware of over the cooler months? Now is the time to indulge your property in a little spring rejuvenation, an investment that will keep your rental property in tip-top...
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