DEALING WITH RENT ARREARS IN THE CORONAVIRUS

It’s the hottest topic in Property Management amidst the Coronavirus pandemic, how are we going to deal with Rent Arrears and financial hardship? It may seem overwhelming right now, but rest assured with some thought and planning there are solutions. The important thing is to not ignore the situation and start looking at your business or property management processes and see what needs to be addressed first. Spend some time and develop clear steps for dealing with the different scenarios that are likely to present themselves. Importantly make sure everyone from your team, landlords and tenants are all on the same page with the plan of attack and deal with each case that is presented on its own merits. The Government is still working on addressing issues with tenancies and… Read More »

CORONAVIRUS – OUR TOP TIPS FOR CONTINGENCY PLANNING DURING THE PANDEMIC

Pandemic… it is such a fear-inducing word, isn’t it? While some of us may be feeling the world has gone crazy, others might be thinking rightfully so, it is a Pandemic after all, but despite where you stand on the topic one thing is certain you can’t avoid the issue. We are entering unprecedented times and the waters we are about to navigate are unchartered, but now is not the time to stick our heads in the sand. Certain things may be out of our control, but we need to take stock of what we can control and focus on ways to move forward as an individual, business or community in this time of crisis. Yes, it is a time of crisis, but don’t be paralysed by the fear, this… Read More »

ADVERTISING YOUR RENTAL PROPERTY

Advertising your investment property correctly and appropriately is absolutely vital when the property becomes vacant. Nowadays, renters have access to multiple online portals when hunting for the perfect rental property. Therefore, it is important to ensure your property is being seen! Here are some things you can do to ensure your property is reaching those who are on the hunt for a rental property. ONLINE PRESENCE Digital media tends to attract active buyers who are specifically looking in a certain area. With a large number of properties going live every day, you need to make sure your property is not missed. It is more important than ever to ensure your property appears on the first two pages of online portals such as realestate.com.au and domain. Here at iThink Property, we… Read More »

SALES FAQ’S

We know that selling your house is a major life decision. We also understand that you may be confused and have an endless amount of questions you need to be answered before signing the dotted line. Here are 5 of the most frequently asked questions our agents get asked when meeting with vendors. 1. AUCTION OR PRIVATE TREATY This decision is entirely up to you as the vendor, however, we do pride ourselves on our unique auction events and our strong 4-week auction campaigns. Private Treaty – This means you list your property at a price and those who place an offer have the chance to put conditions on the sale. It also opens you up to a bigger market, as the buyer has the chance to get their finances… Read More »

THE ART OF HOUSE FLIPPING

Who hasn’t sat back and watched ‘The Block’ or ‘House Rules’ and thought renovating a house looks easy enough? The popularity of these reality TV shows has turned renovating into a business beast of its own. It has become way more than a simple hobby or side hustle these days, but it’s one thing to renovate and another making a profit from it. One of the fastest growing trends is House Flipping. For those who know little about this term, house flipping is when a real estate investor buys a house and then sells them for a profit. In order for a house to be considered a flip, it must be bought with the intention of quickly reselling. The time between the purchase and the sale often ranges from a… Read More »

SAVING FOR A HOUSE DEPOSIT

Whether you are wanting to break out of the rent cycle or you are ready to move out of home into your very own place, saving for a house deposit can seem overwhelming and never-ending. But rest assured, there is a light at the end of the tunnel, you just have to stick it out for a while. Here are a few things you can implement to help to save for your first deposit a little bit easier. Whether you are looking to buy in the next 6 months or the next 6 years, we are sure at least one of these tips will be beneficial. GENERAL SAVING TIPS Tackle your Spendings First The very first thing you want to do is go through your monthly budget and look at… Read More »

WEATHERING STORM SEASON

With the recent wet weather over last week in the Ipswich, Toowoomba and surrounding areas, it is extremely important to ensure your home is ready to withstand the weather. Over the next week we are also expecting more wet weather and the odd thunderstorm, so here is our list of tips and tricks so you can be prepared in case things go south. It will also help ensure you have all the correct procedures in place for a stress-free storm season. PREPARING YOUR HOME GENERAL MAINTENANCE Check the condition of your roof and be sure to repair any loose tiles, eaves or screws. Also, make sure you clean our all the gutters and downpipes to create a clear path for water to flow through. Another easy job that you can… Read More »

THREE STRIKES AND YOU ARE OUT

Why Landlord’s leave a Property Management Company Just like a baseball and softball game, the general rule of thumb with Landlord’s is three strikes and you are out and a new agency comes in. As an investor myself I’ve used this rule of thumb to move onto a new agency, in fact, anything to do with customer service is generally a three mistake rule. Everyone is entitled to make a mistake every now and then, we are all human of course, but as the errors build up what happens is we lose trust and without trust what do we have? Trust is especially essential in property management, mainly considering we are dealing with people’s largest assets; they need to be able to rely on and trust that we have their… Read More »

Property manager in Ipswich managing residential property for client

HOW MANY PROPERTIES CAN A PROPERTY MANAGER MANAGE?

This is the million dollar question in our industry! There are so many different structures now in modern property management businesses there is no longer a magic number. Once upon a time it was between 100 to 150 for a portfolio based property manager doing everything from start to finish. Now with technology advances, virtual assistants and task based specialty roles in place, there is room to move with the ratio of the number of properties to property managers.   There are so many variables to be taken into consideration when deciding this golden number. For example, how close are the properties to the office, type of properties, calibre of tenants, clients that own the property, experience of property manager and systems in the business to name a few. Profitability also plays a huge factor in determining the staff ratios. Employ too many staff… Read More »

2020 COLOUR OF THE YEAR TRENDS

Are you one to follow the pack or do you just like having your interiors up to date? If so, here is your guide to picking a colour to plaster all over your walls this year.  PANTONE COLOUR OF THE YEAR  CLASSIC BLUE  Think blue jeans, blueberries and the sky at dusk. This colour will truly make an impact in your home with its bold presence. Although this shade of blue can make such a statement, it also brings about calmness and reassurance to the space. Because it is such a classic colour, we do not have to worry about it going out of style any time soon.  DULUX PREDICTIONS  Grounded This colour palette is uncomplicated and simplistic, it is really just a 2020 take on neutrals. Try warm tones… Read More »

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