Posts Tagged ‘investing’

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 »

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 »

HOW TO PUT TOGETHER A WINNING RENTAL APPLICATION

Renting can get somewhat competitive and in some instances, you may find yourself up against 20+ other applicants vying for the same property. If this is the case, you can’t afford to be negligent with your application as it may just cost you your dream rental. Here are our top tips you should follow to ensure you have an outstanding rental application. Make Sure You Have All the Correct Documentation After attending the inspection and you have had a chat with the agent, you should know what you are required to provide with your application. Most agencies will require references, application forms, proof of employment and 100 points of identification. To really set yourself apart from the competition have all this documentation organised, copied and ready to hand to the… Read More »

APARTMENTS VS HOUSES

Looking at buying your first home? Or are you a keen investor looking for your next property? The main question both buyers and investors are finding themselves asking is, “Should I be buying a house or an apartment?”. There is honestly no correct answer to this question, it is completely dependent on you and your situation. However, here are some things to consider before purchasing a home or investment.     PRICE   In some areas apartments are more affordable than houses, however, if you are willing to sacrifice location, you may be able to find a small house for a similar price. The general rule of thumb is, those properties closer to the city centre are more pricey, and the further out you go the more bang you get… Read More »