HOW TO DEAL WITH RENT ARREARS AND NEGOTIATING A RENT REDUCTION IN COVID-19

Since the Australian Prime Minister Scott Morrison announced the Covid-19 moratorium on evictions, property managers and investors have had one single thought on their minds, what is this going to mean for rent arrears? Rent Arrears is probably the single biggest stress and cause for angst for property managers, business owners, and landlords, largely due to the spiraling effect the non-payment of rent means for everyone involved. For Queensland, our worries have been alleviated somewhat, with the Government announcing new temporary legislation concerning the boundaries for the rental properties and the pandemic. The good news is that a tenant now has to prove their financial hardship as a direct result of Covid-19 as the first criteria, the next criteria are that they have to show a 25% reduction in income… Read More »

WORKING FROM HOME AMIDST THE CORONAVIRUS CRISIS

Currently working from home and struggling to get into the zone? With the coronavirus madness forcing more and more businesses to shut up shop and work from home, it is more important than ever to ensure you have set up a productive home office in the interim. Here are our top tips and suggestions that will help you get the most out of your workday at home. ESTABLISH A CLEAR WORK ZONE You will want to set up a clear workspace, away from any distractions. You want to try and not mix work with your usual home routines. Establishing clear boundaries will help you stay more productive when completing work tasks. Also, make sure you inform the family/housemates of your workspace to avoid later conflict. You will also want to… Read More »

NO EVICTION MORATORIUM – SORTING THE FACTS FROM FICTION

It is like a roller coaster ride of uncertainty and change, that is literally peaking in ebbs and flows on a weekly, sometimes daily basis. Property Managers are just waiting to see what is over the crest at the top of the ride, is it a sharp downward spiral or an easy slope we can navigate with just a manageable amount of fear. As an industry, we’ve been thrown a few challenges and there’s probably a few more to come, but the only way to deal with a challenge is to look it in the eye and say “accepted”, with all the force and conviction you can muster. The Queensland Government met right before the Easter break to discuss the boundaries concerning the six month No Eviction Moratorium. The positives… Read More »

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 »

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