Posts Tagged ‘leasing’

NEW QUEENSLAND SMOKE ALARM LEGISLATION

Are you across it? Are your Landlord’s across it? You thought you had years to prepare, but all of a sudden the deadline for the new Queensland Smoke Alarm legislation is imminent, pressing a lot closer than you think. I’d been exceptionally nervous if I had a large rent roll to make complaint before the deadline. The deadline for the upgrades is January 1st, 2022, but with around two million households in Queensland as of the last census, there’s going to be a lot of properties requiring the work to make them compliant with the new legislation. We commenced a two-year rollout plan for our management’s from January this year. After meeting with countless smoke alarm companies and electricians, we finally settled on a partner to help us navigate the… Read More »

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 »

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 »

SHOULD YOU USE A BUDGET AGENCY?

Why Cheap isn’t alway’s Cheerful when Selling your Home or in Property Management Yes, the point of having a property whether you live in it or whether it is an investment is to make money, and whether your strategy is long term or short term, make no mistakes you need to have your figures worked out. When it comes to your biggest asset, is it really is time to be skimping on costs and penny-pinching? Like every other industry when it comes to real estate you really do get what you pay for. Let’s take the recent example of a so-called disrupter to the real estate sales industry, who have recently left the market with their tail between their legs. They came into the market offering low commissions and no… 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 »

THE ULTIMATE MOVING GUIDE

About to move into a new place, or are you moving out for the first time? Here is a comprehensive list of everything to need to know to make the move a little more bearable. Forget the moving horror stories, by implementing a plan and utilising these tips and tricks, you can make moving house a piece of cake! BEFORE THE MOVE Utility Connection: The last thing you want is to move into a house that doesn’t have any electricity and you are unpacking in the dark. Make sure you call your energy provider and give them your details and connection dates before you move into the property. The connection process may take a couple of business days, so make sure you have given the provider ample notice. While you… Read More »

TOP TIPS TO RENT YOUR PROPERTY QUICKLY

A vacant property is every landlord’s and agencies, for that matter, most vulnerable period. Whilst it is inevitable, at some stage when you own an investment property you will have to experience a period of time without tenants. This can be costly if not managed properly, each week without a tenant increases the financial pressure, especially if you have home loan obligations to meet. The goal though is to not only find a tenant but find a quality tenant that is going to pay their rent on time and look after the property as if it was their own. This must be achieved in the shortest time frame possible, to avoid unnecessary financial strain and stress. On the same note, if an agency isn’t doing their job to secure you… Read More »

COMPLIANCE – WHAT YOU NEED TO KNOW AS A PROPERTY MANAGER AND INVESTOR

Whether it is our workplace or someone else’s home, risk literally lies everywhere. We’ve all heard nightmare stories of people being sued over something insignificant, but have been paid royally for someone else’s oversight. It seems unfair, but increasingly this is the world we are living in. A pot hole on the pavement is a lawsuit for a broken ankle, a wet floor is a lawsuit for a back injury, a car accident is literally worth thousands in compensation. I’m not discounting genuine instances where compensation is legitimately required due to negligence, laziness or stupidity, whatever the reason may be. However, never more than now have we had to keep our eye open for the risks associated with every day to day life. Litigation is at its peak and the… Read More »

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