Time is running out for FREE Property Insulation
The Australian Government has recently released some fantastic news for landlords!!
Under the national building stimulus package, the Government will provide up to $1,200 to cover the cost of installing roof insulation. This means as a M Estate Agent landlord that you won’t have to pay a cent towards improving your property(s) through this program.
Not only will you improve your property(s), you’ll also be doing the right thing by the environment as insulating your roof can lower heating and cooling costs by up to 40%. …Read More
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Why not become an owner instead of a renter?
Did you know that you can currently still receive the Government’s help in being handed some cash in your hot little hands to put towards your own little piece of bricks and mortar.
Not only are the Government still being reasonably generous with these handouts, but there’s more (just like the steak knives!) however, this will sort of end around the 31st of December 2009 so you have to be quick. …Read More
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Landlords, Tenants and Pets – Providing a Pet Friendly Property
Pets provide an interesting dilemma for landlords. Often tenants with pets have a real struggle to find a suitable rental property. In our experience we have found that people with pets are good stable tenants who remain in a property for longer than the average tenant as they may find suitable alternative accommodation hard to find. So we suggest you do not rule out people with pets, but instead remain flexible and open to prospective tenants with pets. …Read More
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“PAYING THE BILLS” – Should my property manager pay the bills on my behalf?
Organise your property manager to pay bills on your behalf from the incoming rental income. This will assist you at the end of the financial year, as all expenses paid by the property manager will be outlined on the end of financial year statement you will receive.
This will assist your accountant when it comes time to organise your tax and any money spent on the property can be claimed. Most importantly it will save you time.
Ensure you ask the relevant organisations to direct any regular invoices to the property manager e.g. owner’s corporation fees, water rates, council rates and land rates and taxes. Water usage is payable by the tenant provided the water is separately metered. If it isn’t, the landlord must pay for this.
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Improve your rental return, and increase the capital growth significantly and quickly
After Renovation
Before renovation
Would you like to improve your rental return, and increase the capital growth significantly and quickly, on your investment property.
There are great benefits for property owners to increase equity, rental yields and obtain greater depreciation for tax purposes. The potential additional equity to add is significant as is demonstrated in the case study of Herbert Street, St Kilda. A $42,000 renovation was undertaken, the increase in equity of the property was $80,000. In addition, the rental yield increased by $6,240 per year. …Read More
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How do you set the rental price for an investment property?
Unless you are active in the market every day of the week it is difficult to calculate what an appropriate rental might be. Property managers are in the market all day, every day and therefore they are able to advise you in regard to a realistic price.
Investors can be very sensitive about the rental price. In cases where it may be the first or one of the first investment properties for an investor, this is especially true, where they may not want to become involved in the process of setting the rental price. …Read More
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What type of insurance should I have as an investor?
Landlords insurance can take much of the heartache out of being a landlord and gives the insurance company the headache should there be unforeseen circumstances. It takes many of the risks out of having a tenant. …Read More
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Understanding who your tenants are
A typical tenant for an investor, especially for a property investor with properties within say a 20-kilometer band of the central business district (CBD) of the major cities would probably have these general attributes:
• between 20-50 years of age
• single professionals
• professional couples
• students
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How can I be sure I am getting the best rental return?
Many investors have a flawed psychology in regard to cash flow. Investors need to stop focusing on the rental income being the only form of growth and focus on the value of the property increasing over time as well as capital growth and tax benefits, etc.
Landlords need to get their head around the fact that the tenants are in place to inadvertently assist them in creating this wealth but are not the primary contributor. Rent will support a quality property because quality property is in a quality location and will have other quality attributes, such as being close to infrastructure, etc.
If purchased right in the first place and if you are realistic with achieving a fair market rent, your property will not sit vacant for extended periods.
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Could saving a few dollars now cost you much more down the track? Why cheaper is not always better…
With the media constantly screaming at us about the doom and gloom of the worlds current economic state and how it is only getting worse, it is not surprising that saving a few dollars is more and more on people’s minds, as a result we have had more and more people asking if we can reduce our fees to manage their property. …Read More