Posts Tagged ‘Monika Bonet’

Quick… watch this Youtube video and be the first to inspect before it’s open to the public…

Come and inspect this stunning three bedroom two story residence executive residence at 45 High Street, Glenelg. Situated in the heart of thriving Glenelg. This residence offers smart, sleek & exceptional living just a few steps away from Jetty Road &, Glenelg Beach.

This property is presented by Monika Bonet, Principal of Raine & Horne Glenelg, your Glenelg Real Estate Agent

Adelaide renters are paying $15 a week more compared with this time last year and can expect further rises.

Real Estate Institute of SA figures show the median weekly rent in Adelaide hit $310 in the December quarter, up 5.1 per cent on the $295 weekly median from the 2009 December quarter.

Industry experts attributed the increasing rents to a tight market and interest rate rises.

The rise in weekly rent came despite a 5.5 per cent increase during the past year in the number of properties available for lease.

REISA president Greg Nybo said the rises were to be expected in Adelaide’s rental market, where the vacancy rate had hovered at or below 1 per cent for much of the past year.

“What we are now starting to see is the reality of a very, very tight rental market,” Mr Nybo said.

“When you have so many people looking for a limited product, rents are going to go up accordingly.

“A lot of landlords have also adjusted their rents with increases in interest rates and ongoing price rises for utilities.”

Statewide, the median weekly rent increased 5.5 per cent during the past year to $290. Mr Nybo said the larger statewide increase could be reflective of the state’s expanding mining sector and a mostly strong year for farmers.

“If the job is there and people are moving to the country for employment in mining or agriculture, it’s going to make for limited stock, which again means higher rents,” he said.

Mr Nybo said that with interest rate rises forecast for this year and no sign of demand letting up, similar increases in rent could be expected in 2011.

 Property Investors: Are you getting the right rent for your property in this market?  Find out what rent you should be getting…

Simply enter your property details and we will email you a free appraisal as to what your Glenelg or Western Coastal investment property should be renting for.

 Click here for an appraisal form

This blog post is brought to you by Raine & Horne Glenelg, your Glenelg Real Estate Agents and Glenelg Property Management experts.

Source: Adelaide Now

Watch this video … to get the latest in the South Australian Property Market Updates

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

Failure to maintain a rental property can have serious consequences if a tenant is injured

 The Residential Tenancies Act clearly states that the landlord must maintain the property in ‘good’ repair, in a state that is fit to live in and in a state that complies with health and safety codes, local government by-laws and supply authority regulations.

 These tenancy laws have been written to protect individuals from injury and poor living standards.

As a managing agent it is our duty of care to ensure that the property is in good repair and safe for the tenant.

If a member of our property management team recommends improvements, maintenance or repairs at your property, it is to protect your investment.

The following are examples of high risk repair areas that could lead to tenant injury:

•  Steps and railings that are not secure or have white ant activity or dry rot;
• Electrical points and wiring that are loose, frayed or not working;
• Floor coverings that have tears, loose threads or ripples;
• Broken or insufficient external lighting;
• Faulty electrical appliances;
• Uneven or loose pavers;
• Roof leaks;
• Windows or doors with faulty locks;
• Broken smoke alarms;
• Faulty pool gate locks or fencing;

Our office carries out regular routine inspections to ensure that the property is kept in a safe, well- maintained condition.

If a member of our team reports repairs, maintenance or improvements it is important that you work with us to ensure that it is rectified in a timely manner.

 A well-maintained property will maximise the rent achievable, attract a quality tenant, reduce vacancy periods and improve the long-term capital asset value of the property.

 Our office highly recommends that you organise the following inspections to ensure that your property is safe:

• Building inspection
• Pest inspection
• Electrical inspection
• Pool inspection (if applicable)


 

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

Monika Bonet – Principal of Raine & Horne Glenelg is an agent that knows a great deal about period house styles gathered through her own experiences of reviving her own “Old House” in Glenelg South… but still she has asks the question … “is it really worth it?”

 If you believe the hype on TV renovation shows, it seems anyone can make a million by restoring an old building. But does it pay to buy a piece of Australian history and restore it with period precision?

 Monika Bonet is not convinced that you can renovate period homes at any cost. She cited a recent auction she attended of an authentically restored Victorian Villa in Adelaide’s eastern suburbs, where crowds flocked to view the house but no one bid for it.

 The villa was a labour of love for the owners… “but some people go too far,” she said. 

 ”There were beautifully restored ceilings, big original skirting boards and cornices. It was like walking through a museum. It’s probably one of the greatest myths that you can buy an old house and make money by restoring it to the glories of yesteryear.” 

 Monika Bonet went on to say; “The problem for the vendors selling the property was obvious… mainstream buyers don’t want to live in a museum environment – they don’t collect antique furniture and antiques, and they also didn’t care that the owners scraped back the old wallpaper and woodwork to find original colours”.

But despite the prospect of poor rewards, hundreds of people embark on heritage renovations every year because people love old houses.

 “Open inspection of period homes attracts lots of buyers, who adore these character charmers,” says Monika Bonet. “However my experience though is that it can’t be over-done, as most buyers live busy lives and still want all of the modern conveniences that many period homes don’t offer” she says.

“When presenting a period home for sale, it’s important to stage the home with a makeover of modern furniture and give the property a WOW factor. We do this with a mix of antique furniture and modern stylish furniture and accessories to accentuate the homes period features, to create an unforgettable first impression that will captivate potential buyers.”

 Monika Bonet says that however if you can buy a period property for a good price in an up-and-coming area, it can be personally and financially rewarding.

 In March, Monika Bonet sold a run-down Victorian Bluestone farm-house in Glenelg East, which although run-down was in demand by buyers that wanted to buy an old house to restore. “Ironically although this property was rundown with an overgrown garden, the house was structurally in good shape and really the villa just needed a cosmetic renovation.”

“But when we showed the villa to buyers, most just couldn’t visualise the villa’s potential and could not see just how little work the property really needed to bring it back to it’s former glory”  said Monika Bonet.

 “A young couple bought the property and they intend to embark on a makeover including replacing the roof, polishing floorboards, putting in a new kitchen and bathroom, plus repainting and landscaping. When finished they will have added at least 30% to the property’s value in the space of 12 months”

“Sellers can make around 20 to 30 per cent more if they sell well-renovated older-style properties,” Monika Bonet says, and extra funds are often available…. “Councils offer grants of up to $10,000 to certain [heritage] projects,” she says.

 But Monika Bonet, cautions: “Councils are principally concerned about retaining facades and rooflines. “So don’t try to fake it.”

 Should you have an “old house” and are thinking of renovating, before you start, call Monika for a FREE Appraisal to see what your home is worth, and get her expert opinion on what renovations you should make to an old home to maximise it’s potential selling price.

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

A question we are commonly asked by prospective “first-time” tenants is… “How do I get my first rental property?”

Watch this video, it explains the process of how you can get your first rental property;

This video is brought to you by Raine & Horne Glenelg -- your Glenelg Real Estate Agents and Glenelg Property Management Experts

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.

When searching for an investment property, don’t fall into the trap of asking “Would I live there?”

Watch this Youtube Video about which picking suburb you should buy in…

Don’t be like most Property Investors… often your tastes in a property can be very different from a tenant’s needs and likes within a particular area.

SOME KEY FACTORS THAT YOU SHOULD FOCUS ON WHEN CONSIDERING THE PURCHASE OF AN INVESTMENT PROPERTY ARE:

• Are the rents affordable within the average to medium price range?
• Has the area shown a solid history of steady rental demand from nearby industry, educational, medical or commercial office workers?
• Does the area provide good access to shops, transport, schools, churches, sporting and other facilities in keeping with the profile of the local population?

If you can answer yes to the above then you are on course to making a sound investment decision.

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

Australia’s rapidly growing population and overseas migration is set to underpin the Australian property market in 2010 according to Angus Raine, CEO, Raine & Horne.

“Building approvals levels are currently running around 145,000 per year according to industry averages, which is well short of the new homes required to meet our rapidly growing population.” According to the Australian Bureau of Statistics (ABS), as at 30 June 2009, Australia’s population had grown to 21,875,000, an increase of 443,000 people over the previous year.

Watch this Youtube Video about Australia’s population growth…

“Other factors that will continue to help Australian property avoid the pitfalls faced in the US and the UK include our preference for smaller household sizes and larger homes,” says Mr Raine.

According to figures from the ABS, the typical size of a new Australian home is 215 square metres, up 10 per cent on the last decade. New homes in other parts of the world are far smaller, with Denmark the biggest in Europe at 137 square metres and Britain the smallest at 76 square metres.

Higher lending standards and Australia’s relatively low mortgage interest rates are also set to push up Australian property prices – a recent statement from CommSec, says home owners should expect prices to rise by eight to 10 per cent over 2010.

“It’s fair to expect more interest rate hikes in 2010 on the back of our robust economy. However higher rates will be offset by population growth and the fact there is not enough homes being built to meet demand,” says Mr Raine. “This is set to push up rents and home prices, which is an attractive combination for investors.”

To support Mr Raine’s optimism for Australian property, a Mortgage Choice survey found that more than one third of Australians plan to buy a property in the next two years despite concerns over higher living costs and rising interest rates.

Shane, Oliver, Head of Investment Strategy and Chief Economist, AMP Capital Investors says more increases in Australian interest rates are likely in the year ahead as the RBA seeks to move rates towards normal levels. The normal level is now judged, to be around 5%.

“However, the process of tightening is likely to remain gradual thanks to falling underlying inflation and lingering uncertainties about growth. The cash rate is unlikely to reach 5% until around the end of 2010,” explains Dr Oliver.

The other gorilla in the room for property growth is jobs. However the ANZ job advertisement series rose 5.2 per cent in November compared to the previous month.

Mr Raine sums up, “If employers are able to hire full time staff they will and I know the Raine & Horne group is on the lookout for the best property talent available to meet the expected bounce in the market in 2010.

“The fact full-time employment is back in fashion is a great confidence booster for the economy and Australian real estate for 2010.”

This article is brought to you by Monika Bonet. Monika is the Principal of Raine & Horne Glenelg, your Glenelg Real Estate Agent and Glenelg Property Manager.

House prices are rising rapidly in line with the strength of the South Australian economy

Somerton Park records a massive 35.64 per cent growth last year

Adelaide home price median rises to $382,000. Adelaide house prices have risen by more than 6 per cent in the past year and further strong growth is forecast for the year ahead.

Official Valuer-General figures, released, reveal the metropolitan median price rose 6.25 per cent to $382,500 in the December quarter 2009, compared to the same period in 2008.

Across the state the improvement was almost as dramatic, with a 5.77 per cent increase to $352,000. A year ago, the annual increases were only 1.4 per cent for the Adelaide metropolitan area and 4 per cent for the state as a whole.

The latest results impressed Real Estate Institute of SA, who said the figures were particularly promising given the Federal Government’s First Home Owners Boost was halved during the December quarter.

A statement released by REISA said; “this clearly demonstrates the faith people have in investing in bricks and mortar, and the reliability of the property market in Adelaide and South Australia,” he said.

“It gives us plenty of confidence that the property market will continue to grow now the boost has finished and we have reverted back to the existing $11,000 grants for established homes.

“People will still continue to enter the property market because they know it is a good investment, not because they get a one-off cash bonus.”

Somerton Park topped the list with massive growth of 35.64 per cent on last year.

The list was based on suburbs with 10 or more sales in the quarter.

It was followed by Broadview (28.42 per cent) and Willaston (22.37 per cent).

Western suburbs Clarence Gardens and Dover Gardens, and Burton in Adelaide’s north, also made the list, increasing by 22.21 per cent, 21.93 per cent and 21.57 per cent respectively.

Describing Somerton Park as “ideal for families”, Raine & Horne Glenelg Principal said Someton Park had benefited from the price rises of neighbouring Glenelg.

“I think people have realised that Somerton Park has been a bit of a hidden secret for a little while,” she said.

“A lot of people try to go to Glenelg but because Glenelg has gone up so much people have started to look further a field, which has resulted in price rises hitting the adjacent beachside suburbs.

“The beaches and the Somerton Life Saving Cluyb cafe on the beach, makes sunset there absolutely gorgeous, and because Somerton beach is not as well-known as Glenelg it’s less busy.”

Monika Bonet is the Principal of Raine & Horne Glenelg, your Glenelg Real Estate Agent and Glenelg Property Management expert.