In this edition: How long will it take for your property to rent? Why Maintaining Your Rental Property Pays Top Ten Tips for Value-Adding Without Over-Captitalising! Are You Buying or Refinancing? 3 Things You Must Know to Have Your Loan Ap- proved! June 2014 Harder to Nab a Bargain with Vendors Discounting Less A Selection of Properties Recently Leased Quote We love creating wow moments Calendar of Events Dear Landlord, Wow, how fast has this year flown by? It'll be end of financial year be- fore we blink... and by now you've very possibly met with your tax planner to discuss your best options for maximising your returns. If you are thinking of buying another in- vestment property (and now is an excellent time), then we have some great tips here for you! Looking to buy? Are you capitalising on the time be- tween your purchase going uncondi- tional and settlement date? Many investors do not take the time to add clauses to the sales contract that will assist them in ensuring there are limited vacancy periods from the date of settlement. The addition of a clause to your sales contract allow- ing access and marketing of a prop- erty prior to settlement can mean we can market the property for up to 2 weeks prior to settlement and en- sure that the property has a tenant ready to move in after settlement. Investors that have started to use this clause have found an increase in their revenue of up to or more than $1000.00. To discuss how this clause can assist you with your next investment, contact, Christopher McCall ,in our office. Long term leases The industry norm in Queensland is to obtain a tenancy for a 6 month lease. This may be costing you money instead of ensuring you are capitalising on your investment. Many owners do not consider the cost involved in resigning a tenancy or obtaining a new tenancy due to a tenant vacating their investment property. Owners incur fees and for reletting and marketing to obtain a new tenancy. Generally when a ten- ancy vacates maintenance costs can be incurred with updating and or improvements made to en- sure the investment is still obtaining a high rent. The next time you con- sider a lease extension or removal of a tenant consider these costs and speak to your property manager for advice and aim for peak periods and wherever possible, securing at least a 12 month lease. Wishing you health, wealth and hap- piness Christina Penrose Adding clauses to contracts and maintenance costs
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Transcript
In this edition:
How long will it take for your property to rent?
Why Maintaining Your Rental Property Pays
Top Ten Tips for Value-Adding Without Over-Captitalising!
Are You Buying or Refinancing? 3 Things You Must Know to Have Your Loan Ap-proved!
June 2014
Harder to Nab a Bargain with Vendors Discounting Less
A Selection of Properties Recently Leased
Quote
We love creating wow moments
Calendar of Events
Dear Landlord,
Wow, how fast has this year flown
by? It'll be end of financial year be-
fore we blink... and by now you've
very possibly met with your tax
planner to discuss your best options
for maximising your returns. If you
are thinking of buying another in-
vestment property (and now is an
excellent time), then we have some
great tips here for you!
Looking to buy?
Are you capitalising on the time be-
tween your purchase going uncondi-
tional and settlement date? Many
investors do not take the time to add
clauses to the sales contract that will
assist them in ensuring there are
limited vacancy periods from the
date of settlement. The addition of a
clause to your sales contract allow-
ing access and marketing of a prop-
erty prior to settlement can mean
we can market the property for up to
2 weeks prior to settlement and en-
sure that the property has a tenant
ready to move in after settlement.
Investors that have started to use
this clause have found an increase
in their revenue of up to or more
than $1000.00. To discuss how this
clause can assist you with your next
investment, contact, Christopher
McCall ,in our office.
Long term leases
The industry norm in Queensland is
to obtain a tenancy for a 6 month
lease. This may be costing you
money instead of ensuring you are
capitalising on your investment.
Many owners do not consider the
cost involved in resigning a tenancy
or obtaining a new tenancy due to a
tenant vacating their investment
property. Owners incur fees and for
reletting and marketing to obtain a
new tenancy. Generally when a ten-
ancy vaca tes ma in tenance
costs can be incurred with updating
and or improvements made to en-
sure the investment is still obtaining
a high rent. The next time you con-
sider a lease extension or removal
of a tenant consider these costs and
speak to your property manager for
advice and aim for peak periods and
wherever possible, securing at least
a 12 month lease.
Wishing you health, wealth and hap-
piness
Christina Penrose
Adding clauses to contracts and maintenance costs
www.propertyrentalsbrisbane.com FREE Information Guide For Landlords & Tenants
How long will it take for your property to rent?
That of course depends on the time of the year so here are the latest statistics for May.
BRISBANE STATISTICS The Market
Source: rentfind.com.au
Brisbane, QLD May 2014 Annual Change
Median Weekly Rent - House $410 2.8% increase
Median Weekly Rent - Unit/Apartment
$380 2.7% increase
Days on Market (Avg) 25.7 5.8 increase
Days Vacant (Avg) 15.2 6.7 increase
Why Maintaining Your
Rental Property Pays
Good Property Managers and
Landlords know the importance
of keeping their rental properties
well maintained.
Not only are Tenants entitled by
law to have a safe and habitable
living environment, it is also in
the Landlord‟s financial interests
to ensure that the property is kept
in good condition. After all, with-
out rent coming in regularly each
month, a property is worthless.
When viewing the upkeep of your
rental property, keep your per-
spective not only from the busi-
ness side, but also from the Ten-
ants‟. Regular maintenance and
management of your property will
help prevent damage and de-
crease the likelihood of missed
income in between Tenants.
Through Tenant’s eyes
Prospective Tenants viewing a
neglected property are less likely
to want to rent it. When your
property is run down and uncared
for it will attract the same type of
treatment from a Tenant. Like
attracts like.
If you were putting a house up for
sale, you‟d want it to be in the
best possible condition to attract
the highest price. Finding a good
Tenant is no different.
www.propertyrentalsbrisbane.com FREE Information Guide For Landlords & Tenants
Maintenance & ongoing man-
agement
If a property does not receive on-
going general maintenance, and
if repairs are not acted upon
straight away, there are several
consequences.
It‟ll likely cost more and take
longer when maintenance or re-
pairs are eventually undertaken,
and the value of a property in dis-
repair is significantly lowered,
decreasing both its investment
and rental income potential.
Many Landlord insurance provid-
ers expect homeowners to main-
tain their property to the stan-
dards of the relevant Tenancies
Act, and failure to do so could
result in claims being denied.
Another factor which can affect
the quality of Tenant applying for
a property is cosmetic mainte-
nance. Touching up the paint job
on interior walls when the prop-
erty is between Tenants is a sim-
ple task, and is reasonably inex-
pensive if Landlords do it them-
selves. It may also enable you to
add extra dollars to the rent that
you charge the next Tenant. The
same approach applies to replac-
Inspections
Routine inspections can uncover
potential problems and spark
maintenance action before they
worsen.
The Landlord may like to arrange
routine maintenance on an an-
nual basis such as: checking
drains and gutters, checking for
signs of mould or damp, having
air conditioners serviced, mend-
ing any broken or leaking fixtures
and generally inspecting and re-
pairing any aspects of the prop-
erty that could present problems.
Examining fences and garden
walls to ensure that they remain
in sound condition, together with
inspecting the roof and any chim-
neys for signs of damage, is vital.
Covering missed income
First time property owners need
to be aware that standard build-
ing and contents insurance will
not cover a Landlord for missed
income if:
The Tenant absconds;
The property is in the process of
being re-let;
The policy limit is reached;
ing aging fixtures and appliances.
Tenants are more likely to take
pride in a well-presented property
and treat it as if it were their own.
Simple gestures such as a fresh
coat of paint or gardening assis-
tance can help to attract good
calibre Tenants and ensure the
property remains well cared for.
Landlords also need to be aware
that their property should be
maintained regularly and that cer-
tain standards for repair are met.
If your Tenants inform you of a
problem in need of repair you
need to act immediately, how-
ever, preventative maintenance
should be applied beforehand.
For example, if your rental prop-
erty has a very large garden,
make it easier for the Tenant to
maintain it so that they are less
likely to let it go and turn it into a
jungle. In this instance, you might
think about the long term substi-
tute for grass and bushes with
something that requires less
maintenance for both you and
your Tenants such as: pebbles,
gravel, bark or pavers.
www.propertyrentalsbrisbane.com FREE Information Guide For Landlords & Tenants
Errors & Omissions: These details have been prepared by us on information we have obtained and while we trust it to be correct, is not guaranteed by us and you should rely on your own enquiries.
Taringa Unit $390 p.w.
2 bed, 2 bath,
1 car accommodation
Calendar of Events
Chris, this is just to say thank you for the professional service you provided in securing a tenant for our property. From the our first telephonic conversation you provided me with expert advice and assistance regarding the future rental of my property. What followed was what makes you stand out from the rest. You deliv-ered on what you said was going to happen! You secured a ten-ant for us within 2 days of putting the property on the market. Throughout the process you kept me updated with any develop-ments. What a pleasure it is to deal with you. You made my life so much easier. Thank you for creating a WOW moment. —Charl Grobbelaar