http://www.propertyminders.com.au/ Thu, 23 Feb 2012 00:52:51 Property Minders Asset Management Articles http://www.propertyminders.com.au/?process=views/article.php&articleId=22645 http://www.propertyminders.com.au/articles/What-we-have-rented-recently-Dec/Jan.html December/January are always busy months for rentals.  Turnover is high whether from natural expiry of leases or tenants breaking leases due to changing work commitments.  Everyone wants to be settled prior to their school or business year commencing.  The information below gives you an idea of how the rental market is going.  It is interesting to compare the rent achieved against the median rent obtained... http://www.propertyminders.com.au/?process=views/article.php&articleId=22641 http://www.propertyminders.com.au/articles/Decoding-Median-Rental-Data.html Median rental data is valuable information that we use when preparing Comparative Market Analyses for clients or justifying rental increases to landlords.  The RTA has recently released the figures for the December Quarter 2011 which show some staggering increases in median data across a couple of suburbs. Not all suburbs have reflected the same pattern however.  This median weekly rent data is based on an analysis of... http://www.propertyminders.com.au/?process=views/article.php&articleId=21465 http://www.propertyminders.com.au/articles/The-Market-Wrap-From-Scott.html The market has been subdued in general with many areas seeing sales occurring 10-15% below 2009 prices. Those properties that were purchased in 2007 and 2009 have seen price reductions with vendors who paid a premium then lucky to achieve what they paid. The current levels of quality stock have dried up and we do not see this improving until early next year. This may have a positive effect on the market with interest rates being low as... http://www.propertyminders.com.au/?process=views/article.php&articleId=21449 http://www.propertyminders.com.au/articles/Pool-Safety-Laws---Stay-Safe.html Stay safe this summer and always around pools!  Pool laws have been in the media again this month as the date for mandatory registration of pools has now passed.  All pools in properties under our management have their Pool Fence Compliance Certificates in place.  This is now a requirement before any property with its own pool (non-shared) can be leased.  Shared pools in body corporate complexes have a... http://www.propertyminders.com.au/?process=views/article.php&articleId=19837 http://www.propertyminders.com.au/articles/Our-Summer-Tips-for-Landlords.html We are frequently asked what sorts of things we recommend doing to investment properties to bring greater returns. During that first rental appraisal we will highlight things that from our experience increase the value and are sought after by tenants as well. As we approach the summer season there are some obvious things that will add to the comfort of your tenants and increase the desirability of your property. Install... http://www.propertyminders.com.au/?process=views/article.php&articleId=19741 http://www.propertyminders.com.au/articles/Tips-for-Landlords-from-rent.com.au.html Rent.com.au conducted a national survey of renters in June 2011. The following results indicate there is opportunity for landlords to take into account these findings when considering the lease conditions for their rental property.   Australian renters are seeking greater flexibility in their lease conditions according to the latest Rent.com.au National Renters Survey. "This survey highlights key issues and... http://www.propertyminders.com.au/?process=views/article.php&articleId=18869 http://www.propertyminders.com.au/articles/The-Top-5-Bugbears-with-Property-Managers.html This is an all too familiar scenario.  Does any of it sound familiar to you? The Top Five Bugbears with Property Managers -   They don’t return your calls They don’t tell you what’s happening They don’t do what they’re told They don’t ask you before spending your money They are not focused on your business. Change to a... http://www.propertyminders.com.au/?process=views/article.php&articleId=18253 http://www.propertyminders.com.au/articles/Risk-Equals-Return.html Given the way the market is at present, many people are hesitant to take the leap and either buy a house or invest in property.  Who would blame them? Talk of higher interest rates, uncertain Government at Federal and state (Queensland) levels, not to mention affordability issues! Some of those who are buying investment properties are chasing higher returns (in a mining town) to guard against any sudden increases in interest rates... http://www.propertyminders.com.au/?process=views/article.php&articleId=18137 http://www.propertyminders.com.au/articles/What-we-have-rented-recently.html June/July has been a busy time for rentals, perhaps not as buoyant as the beginning of the year but typically timed for 6 month turnovers. We have seen keenly priced properties snapped up and renters particularly choosy as to what they want. When money is fairly tight across the board, this is not surprising. Clean well presented properties are a pleasure to show and easy to rent. We have included the RTA median prices in these areas for... http://www.propertyminders.com.au/?process=views/article.php&articleId=18105 http://www.propertyminders.com.au/articles/Your-Right-to-Know.html As a property owner you have a right to be totally informed of what is happening at your rental property. There may be times that you prefer NOT to know but it is not my choice which bits that I should selectively inform you about. Any significant event at the property must be communicated to you as the landlord. What do we class as a significant event? Well, perhaps non payment of rent might be right up there, poor care of the... http://www.propertyminders.com.au/?process=views/article.php&articleId=16309 http://www.propertyminders.com.au/articles/Whose-Property?.html A friend picked me up on my speech the other day. I was talking about the fact that I wouldn’t have a certain type of tenant in any of ‘my’ properties. He said to me, “ You actually talk and act as if the properties are your own”. And that is a fact. We do treat all our properties as if they were our own. The reason for not having a certain type of tenant in the property is not just... http://www.propertyminders.com.au/?process=views/article.php&articleId=16305 http://www.propertyminders.com.au/articles/Matusik-Report-on-Rental-Market.html An independent opinion on most things residential - Matusik Missive   I’ve said it before – there is little doubt that 2011 is shaping up to be a hard year for residential real estate. The market is weighed down with considerable resale stock for sale. Add to that the repercussions of last year’s interest rate rises coupled with limited government spending, less overseas migration and the... http://www.propertyminders.com.au/?process=views/article.php&articleId=16297 http://www.propertyminders.com.au/articles/More-than-a-Puff-of-Smoke.html Concerns have been aired recently in the media about the type of smoke alarms that are installed in residential properties. It became compulsory to install smoke alarms in new residential properties in Queensland in 1997. Later this was extended to all residential properties. All the properties under our management at Property Minders are enrolled in an annual maintenance programme with Smoke Alarm Solutions. This is the most cost... http://www.propertyminders.com.au/?process=views/article.php&articleId=16289 http://www.propertyminders.com.au/articles/10-Top-Tips-for-Buyers.html Most market watchers would agree that it is a buyer’s market at the moment. Scott McGeever, Director of Property Searchers has provided his 10 top tips for buyers in this current market. Don’t take list price as an indication of, or near to the value of a property Do your research on what properties are selling for (use the internet, talk to agents and keep good notes) Always inspect as many... http://www.propertyminders.com.au/?process=views/article.php&articleId=15457 http://www.propertyminders.com.au/articles/Public-Perception-is-not-always-Reality.html It is always the case that poor quality properties are very easy to buy, but hard to sell. In a rising market it can seem that anything listed for sale will sell quickly and people can race in and buy a poor quality property just to get into the market. I have always said that anyone who buys property needs to have at least a five year time horizon for the very fact that property is not a liquid asset, it is not like a share that can be... http://www.propertyminders.com.au/?process=views/article.php&articleId=15433 http://www.propertyminders.com.au/articles/Communication-is-Key.html It is the most complained about aspect of property management, lack of communication.  Not for us though.  Just talk to us and we promise to talk back! Landlords need to be kept informed, they actually want to know what is going on at their properties. We get the occasional few who prefer not to know, but they are the exception. Most owners appreciate regular feedback, especially when their property is vacant or there... http://www.propertyminders.com.au/?process=views/article.php&articleId=15425 http://www.propertyminders.com.au/articles/Median-Rents-for-First-Quarter-2011.html Median rental figures have now been released for the first quarter of 2011.  This is traditionally one of the busiest quarters in the year with many leases timed on purpose to expire during this period.  People are on the move, keen to get settled in time for the new school and work year.  This year saw added pressure on rentals with the number of natural disasters around.  A couple of suburbs have... http://www.propertyminders.com.au/?process=views/article.php&articleId=14597 http://www.propertyminders.com.au/articles/Is-Your-Property-Ready-to-Rent-Out?.html We provide rental appraisals free of charge and obligation to people in a number of different situations. You might be purchasing a property specifically as an investment, or purchasing another property for yourself and converting your existing home into an investment property. Or you might simply want to review the rent being obtained under another agency’s management – keeping them honest! We advise what rent... http://www.propertyminders.com.au/?process=views/article.php&articleId=14593 http://www.propertyminders.com.au/articles/Work-that-Brings-Returns-Prior-to-EFY.html It is March already and time seems to get away from us all. The End of Financial Year will be upon us before we know it so now is the appropriate time to consider what work you might want undertaken while your property is tenanted. Review the capital value of your investment and consider any repairs or renovations that would improve the value of your investment as well as increase your rental yield. Consider these... http://www.propertyminders.com.au/?process=views/article.php&articleId=13217 http://www.propertyminders.com.au/articles/Rental-Returns-over-Busy-Period.html The rental market has been very busy, applications have been mostly strong for good properties and we have been able to achieve good returns for our clients. The market always depends on supply and demand to keep it honest. There is no need to either manipulate or abuse this situation. Below is just a sample of prices achieved over the last month. In the areas that we cover, we have not seen an increase in clientele as a result of the... http://www.propertyminders.com.au/?process=views/article.php&articleId=13205 http://www.propertyminders.com.au/articles/Tenancy-rights-and-responsibilities-during-a-natural-disaster.html Does the tenancy agreement end because of a natural disaster? Does rent have to be paid if the premises have been evacuated? Can the rent be increased? The RTA has compiled a list of commonly asked questions about renting and natural disasters. Tenancy rights and responsibilities during a natural disaster In times of natural disaster, housing is always one of the biggest issues that a community will face. With around one... http://www.propertyminders.com.au/?process=views/article.php&articleId=12727 http://www.propertyminders.com.au/articles/Taking-the-Hard-Line---Tenant-Evictions.html Biting the bullet - there are times when we just have to take action and make some hard decisions on your behalf. These can include insisting that a tenancy be terminated. You would be surprised how reluctant some property owners are to terminate a tenancy even when our constant reports are bad. We went to the tribunal last month on behalf of one of our clients to terminate a tenancy for repeated breaches of the same offence, rental... http://www.propertyminders.com.au/?process=views/article.php&articleId=12726 http://www.propertyminders.com.au/articles/Clarity-on-Fences-and-Trees.html New laws have been drafted aimed at resolving disputes between neighbours over trees and fences. This is an area that we are often involved in, particularly when trying to protect our client’s properties from overhanging neighbour’s trees. You might ask what is the big problem?  Overhanging trees not only clog the gutters with leaves but they also provide an access point for little creatures such as... http://www.propertyminders.com.au/?process=views/article.php&articleId=12528 http://www.propertyminders.com.au/articles/Sad-Stories-but-True.html I was speaking with a property owner just recently who complained about the service they received from their current Property Manager and also the rapid turnover of Managers in the period of their management. When I queried whether they had been able to resolve the issues they replied, “Yes, we negotiated a cheaper rate of commission.” Now I find that a little strange. Poor service apparently becomes acceptable when you... http://www.propertyminders.com.au/?process=views/article.php&articleId=12549 http://www.propertyminders.com.au/articles/Managing-Your-Property-Like-an-Important-Asset.html We’re not just another Property Management Department. No, we are solely a Property Management agency. No sales at all. We have a strong affiliation with Property Searchers (buyer’s agency) but have no sales arm. And how does that help you? Our total focus is on Asset Management – your asset, our management. We want your property management experience to be a positive one so that you will grow and expand your... http://www.propertyminders.com.au/?process=views/article.php&articleId=12287 http://www.propertyminders.com.au/articles/The-Value-of-Insurance.html By the time a tenant gets into rent arrears, the appropriate breach notices are issued, an application to court is made and then they’re finally evicted from the property and a new tenant found, a landlord could potentially have missed out on more than 6 weeks rent - perhaps even more at busy times of the year like Christmas. Once the defaulting tenant is finally out of the property, the bond will likely be exhausted by reletting... http://www.propertyminders.com.au/?process=views/article.php&articleId=12286 http://www.propertyminders.com.au/articles/Rental-returns-in-September.html September was a busy month for rentals. We have provided some information below to give you an idea of how the rental market is going. We thought you might find it interesting to compare where our tenants come from and also the rent achieved against the median rent obtained for that property type and area as recorded by the Residential Tenancies Authority. Please treat this information as confidential. Obviously other factors such as... http://www.propertyminders.com.au/?process=views/article.php&articleId=12284 http://www.propertyminders.com.au/articles/Swimming-Pool-Safety.html Recently, Minister for Infrastructure and Planning, Stirling Hinchliffe, introduced the Building and Other Legislation Amendment Bill (No. 2) 2010 to implement stage two of the Government's review into swimming pool safety laws. This Bill includes a number of provisions that will require swimming pool safety certificates be given to purchasers or lessees of residential property. Stage two includes mandatory pool inspections... http://www.propertyminders.com.au/?process=views/article.php&articleId=12535 http://www.propertyminders.com.au/articles/What-we-have-Fixed-this-Month.html Record breaking weather with the wettest September in Queensland, followed by the wettest October day in Brisbane. This will test the best maintained property, let alone ones that have seen better days. As a relatively new property management company, all the properties we manage have been taken on within 12 months. So we don’t have a long history with the property and we also have not been in control of the maintenance done...