Archive for the ‘Property Management’ Category

A question we are commonly asked by prospective tenants is “Who chooses the applicant for a tenancy?”

Watch this video, it explains the process we follow;

This post was brought to you by Raine & Horne Glenelg your Glenelg Real Estate Agents and Glenelg Property Management Experts

A common problem for Landlords and Property Investors is to determine the difference between ‘fair wear and tear’ and malicous property damage caused by a tenant.

Watch this video and discover the difference…

This blog post is brought to you by Raine & Horne Glenelg  your Glenelg Real Eatate Agents and Glenelg Property Management Experts.

For Adelaide to become a more vibrant and sustainable city, we need to stop the urban sprawl.

Did you know that Adelaide covers the same area as London? The major difference being that London has a population of 7 Million whilst Adelaide has a population of just 1 Million.

So what does this mean for our kids…

Gone are the days that we condemn our kids to migrating to the outer suburbs, to find the cheapest block of land, or house & land package that they can afford to purchase as a first homeowner.  And in the process condemn them to owning two vehicles to commute to work and raise a family to commute to school and leasure.

At last we have a sustainable plan for Adelaide, which provides us with a direction on population and how our city will grow.

Watch this Youtube Video about Adelaide’s 30 Year Plan…

So how does the 30 Year Greater Adelaide Plan change the future for our kids… 

The first step is what is happening now with our $2 Billion Public Transport Infrastructure Upgrade.

This investment is all about improving our public transport with modern new electrified passenger trains, trams and modern buses which integrate into our train and tram network. The next step once our public transport network is upgraded, is to encourage urban consolidation along our major public transport corridors, which means we will lessen our reliance on vehicles as our sole form of transport.

How will the 30 Year Greater Adelaide Plan encourage urban consolidation?

The 30 Year Greater Adelaide Plan, announce the intention of our Government to encourage higher density housing along our major publice transport routes by relaxing Council Planning policies 800 metres either side of major public transport routes.

So if I was a Property Investor… where should I purchase property for future growth?

Obviosly 800 metres either side of the major established train and tram lines!

This story was brought to you by Raine & Horne Glenelg, your Glenelg Real Estate Agents and Glenelg Property Management Specialists.

One of the most common questions asked when you first become a landlord is -- “Is it worth taking out Residential Building Insurance as well as well as taking out Landlord Insurance?”

See this Youtube Video and then ….read about Landlord Insurance incidents by Amber Cauchi, Claims Officer for Terri Scheer Insurance

Amber Cauchi, Claims Officer for Terri Scheer Insurance strongly believes so; “after seeing the many claims for catastrophic damage that could never been foreseen -- it seems that Building Insurance is worth its weight in gold for Landlords”.

 Taking out Building Insurance on your investment property will ensure that you can sleep at night with peace of mind that your investment property Is properly insured in the event of major damage.

“One example Is a recent house fire which started in an air conditioner situated on the roof. What seemed initially as a minor fire localised to the air condition unit itself, soon spread rapidly into the roofing cavity. This caused damage to the roof tiles, eaves, structural beams, ceilings and even structural walls throughout the property”.

Ms Cauchi went on to say “assessors, structural engineers and builders were all appointed to assess the damage and costs incurred. The damage requiring repairs included structural damage and cracked internal brickwork -- due to the extreme heat, as well as smoke damaged walls, kitchen cabinets and appliances. The costs soon grew, far exceeding initial estimates”.

“With just under $200,000 building damage, $20,000 contents damage and $10,000 loss of rent, the owners converted what could have been a major economic loss, into one which was covered entirely by insurance. Peace of mind in such a stressful and emotional time after such a huge loss could be considered priceless”.

This article was brought to you by Terri Scheer Insurance.

For all of your Glenelg Property Management needs Call Monika Bonet at Raine & Horne Glenelg on 8376 8844 -- We’ll Look After You.

Oh… to have a property crystal ball so we could see into the future of the property market.

See comments from John Symonds of Aussie Home Loans 0n why the RBA raised interest rates…

It is a hot topic with many property owners and investors – whether to fix their mortgage or leave it as a variable rate.

While we are not financial advisors and strongly recommend that you seek independent advice on the best options for your circumstance, we do, however, suggest that you consider splitting your loan/s to edge a two-way bet of fixed and variable.

Now is the time to look at all of your finance options to ensure that you are maximising your return and getting the best possible loan.  One quick call to your bank or financial advisor could save you $10,000+ in interest payments.

If you need to get an independent opinion of what your home is worth today in Glenelg or the western and coastal suburbs of Adelaide, call Monika on 83768844, you’ll receive a written letter of appraisal with a detailed comparative market analysis  of properties sold in your suburb in the past 6 months.

If you would like us to also arrange to give you finance options just mention that also when you call.

 This article was brought to you by Raine & Horne Glenelg your Glenelg Real Estate and Glenelg Property Management Experts.

A pet friendly investment property can generate more prospective tenant interest, achieve top market rental value and reduce vacancy periods…

Watch this Youtube Video from a Property Manager in Missouri…

At some stage in our lives most of us have owned a pet.

However, when it comes to renting out a property to tenants who have pets, we can often be cautious and in some cases refuse pets.

There are many tenants who have pets that are excellent and keep the property in a first class condition.

The decision on whether you choose to accept pets or not is a personal decision for each property owner.  However, it is important to be aware that being pet friendly can create more interest in a property, often achieve the highest possible market rent and ensure that the property is rented in the quickest possible time.

Pets are like tenants!  They must come with references. 

You also need to be cautious in the type of pet accepted to be suitable to the property.  Dog types such as rottweilers, german shepherds, pitbulls, etc. are often not ideal for the standard investment property, however, accepting these larger dogs can further increase the interest in a property.

There is a stigma that pets can cause increased wear and tear on the property, as well as attracting noise complaints. But when you think about it – these issues can also arise with tenants who do not have pets.

At Raine & Horne Glenelg our office has special pet clauses that can be included in the Tenancy Agreement to protect you.

If you have an investment property in Glenelg and would like us to mange your property as a pet friendly one, please feel welcome to email our office or send a written confirmation of your instructions (including a detailed description of the type of pet/s you would allow) so that we can prepare a Management Agreement and Lease specific to your investment property.

This property management article was brought to you by Raine & Horne Glenelg your Glenelg Real Estate Agents and Glenelg Property Management Experts dealing with property management in Glenelg and western and coastal suburbs of Adelaide.

Accelerate and increase your retirement fund!

Building an investment portfolio can be easy if you have equity in your current investment property…

Often you will not have to pay any costs or outlay any money to purchase an additional property, as this can be built into your investment loan using your current investment property as security.

Do you know if you have equity in your property? 

Contact our office today for an obligation FREE market appraisal.  You could be surprised at just how easy it is to acquire your next investment property.

Call Monika on 8376 8844 NOW!

At Raine & Horne Glenelg we understand that many investors rely on the weekly rent to meet mortgage commitments.  You can be assured that every endeavour is taken to minimise vacancy periods.

Listed below are some reasons why properties may remain vacant for an extended period of time.

The rent is too high

The market and the tenants determine rent.  We are constantly monitoring the market rent to ensure that you are receiving the maximum return on your investment.  High rents can lead to long-term vacancies or high tenancy turnovers, which ultimately affects your income.

High Vacancy Rate

If there is a high ratio of properties to tenants (more properties than tenants) it will have an effect on the vacancy factor.  Tenants have more choices and are in a stronger position to negotiate on rents.

Poor Presentation

It is important that the property is maintained in an excellent condition to attract the same quality of tenant.  A tenant will often have a choice between two or three properties.

Accessability to local transport

Often the property can be maintained in an excellent condition, the rent is priced at market value and yet it still remains vacant.  This could be due to its location.  Tenants today (due to the supply and demand of properties) can be choosey.  Often they require a property that is close to town, shops, clubs, the beach or water, transport or schools, etc.

Every endeavour is made to locate a quality tenant to suit your investment property, and at Raine & Horne Glenelg we will keep you updated on a regular basis on our progress with sourcing a tenant for you.

If you have a rental property and need professional Property Management, find out how Raine & Horne Glenelg can accelerate your leasing… read more

AUSTRALIAN GOVERNMENT ENERGY EFFICENT HOME PACKAGE

The Energy Efficient Homes Package will install ceiling insulation in up to 2.9 million homes.

This practical step will help households reduce their energy use, cut their power bills by around $200 a year, and increase the comfort and value of their homes.

The insulation component includes the following two programs.

 Homeowner Insulation Program

The Homeowner Insulation Program provides assistance of up to $1,600 to install ceiling insulation in the homes of eligible owner-occupiers.

 Low Emission Assistance Plan for Renters

The Low Emission Assistance Plan for Renters provides assistance of up to $1,000 to install ceiling insulation in other property such as rental properties and holiday homes.

The two insulation programs are in effect from 1 July 2009 and will run until 30 June 2011 for renters and landlords, and 31 December 2011 for owner-occupiers.

If you installed ceiling insulation between 3 February 2009 and 30 June 2009 you may be eligible for a rebate under the Early Installation Guidelines.

Landlords/tenants who are eligible

To qualify for free roof insulation, you must be a:

1. Landlord of the dwelling where the insulation is to be installed and be either  an Australian citizen or permanent resident aged 18 years or over, or a corporate entity incorporated in Australia
2. Tenant of a dwelling owned by a Landlord with a letter stating the Landlord’s permission to install ceiling insulation in that dwelling under the Low Emission Assistance Plan for Renters. You must sign the Work Order Form (provided by the installer) on the Landlord’s behalf.

You must also:

• Obtain the approval of the body corporate, if applicable
• Correctly complete and sign the relevant section of the Work Order Form
• Only apply for assistance under the program once per dwelling and not apply for assistance under the Homeowner Insulation Program as well
• Be installing new ceiling insulation – it does not cover the replacement of existing ceiling insulation unless it has negligible effectiveness (that is, at or below 0.5 R-Value). Your installer will need to indicate if existing insulation is 0.5 or less in the Work Order Form.
• Not have received or be entitled to receive assistance for the installation of ceiling insulation in the dwelling under any state, territory or local government scheme which combined with any assistance under this program will result in the Landlord or Tenant receiving assistance in excess of the total cost of the installation of the ceiling insulation.

MOST INSTALLERS SHOULD CLAIM THE REBATE DIRECTLY FROM THE GOVERNMENT SO YOU DON’T HAVE TO PAY ANYTHING UPFRONT.

* Conditions Apply

For more information visit www.environment.gov.au/energyefficiency/insulation/index.html

Or call Energy Efficient Homes Package Call Centre on 1800 808 571.