No one wants to part with a large amount of money to end up with a poor result
Put simply, investing in property means taking a risk that you could lose money
You might shudder to think that to invest properly in property, you must have at least a basic idea of mathematics
Investing can seem so overwhelming that it might feel easier to avoid it together.
The property market can be rife with mixed information
Investing in property is a proven way for Australians to build their financial nest egg
I prefer to type up my condition report and inventory (better when it comes to reusing them for your next tenant)
As important as the written report is, the old saying that a picture is worth a thousand words is still true.
A lot of property owners and managers like to keep an inventory of items that are to stay at the property in the comment section of the basic template
Legally, condition reports need to be written and include the minimum content defined by the law in each state
I always dreaded tenants moving out. I had to conduct the final inspection to determine what needed to be fixed, etc
When you've made the decision to approve tenants to move into your property, do not wait around to let them know
I believe that in many cases, your instincts about a person can be more accurate than raw data
So, you've called all their references and your tenants still sound good. The next step is to check them on the NTD
The most important person to speak with is the agent or owner your potential tenants are currently or previously rented through
When you are going through an application, it is important not to be side tracked by your own personal thoughts
Once you have selected the application (or two) that you want to screen, make sure you have proof of income and 100 points of ID
Your first impression of the tenants is very important, but you also need to look at things in black and white
Now, it is time for you to start picking up on the signs of a great tenant
When good tenants find a house they like, they will inspect it and have the application all filled out and ready for you within 24 hours
Shout from the Rooftops, Bang the Drums and Tell EVERYONE about Your House
Good photos, equals more tenants looking at your ad. This means you will rent the property out faster.
Before you start advertising, you need to get some good photos of your house. Good tenants will be attracted to good photos
In order to attract enough good quality tenants to your inspections, you will need to set your price at or just below similar properties
You may have noticed that the hard work begins even before you start advertising and screening your tenants
To attract the type of tenants you want, the property has to suit their needs
Even if you’re in your 50s, a property can still have a good 20 years to grow
At this point, you should use the guidance of a knowledgeable wealth-creation expert
Accumulation Phase, Consolidation Phase, and Lifestyle Phase
The aim of purchasing property is to build an asset base through long-term capital growth, which only happens over a period of many years or decades
Of course, any investment strategy involves some level of risk and this is especially true for investors starting later in life
All investors go through three stages of building wealth, which are
Banks are likely to be warier in handing out loans to baby boomers because they know that at some point, you’ll stop working
Is there ever a time when you’re just too old?
In order to be effective, you must look after the only tools you have control over – your mind, body, and spirit.
Creative cooperation among humans allows us to uncover new solutions to old problems.
Most people engage in conversation to be heard, rather than to understand.
More is gained from life through the art of cooperation than competition.
Once you have established attainable goals, you must then develop the habit of planning and implementing activities that will enable you to reach them
By focusing on your desired outcomes, you will be compelled to lead yourself toward those goals
Other changes in QLD. Ending tenancies, Goods left behind, Domestic and family violence, Rental application process, Protecting privacy, Request for fixtures and structural changes
New regulations and enforcement came in effect from 6 June 2024
New laws in effect from 6 June 2024 for Rental bond processes
Balancing privacy and access, Smoke alarms, Entry notice period, Entry frequency
New laws in effect from 6 June 2024
In every moment, you are faced with a choice and the opportunity to move forward in your life’s purpose.
successful investors make time to tend to their personal relationships
Successful people confront problems as soon as possible.
Successful people pursue what makes them happy without worrying about what others think
Interestingly most things we fear will happen, never do
Successful property investors don’t try and time the markets. They know there isn’t a "right” time to do anything.
Successful investors don’t look for the next “get rich quick” scheme
In an uncertain world, we love to be right because it helps us make sense of things
Successful investors are comfortable with the reality that their future can’t be predicted
If you notice something is amiss on your credit card statement, bank statement, or even your credit history, report it immediately.
While we have covered the 4 most common scams, it's certainly not an extensive list of the scams doing the rounds in Australia’s real estate market.
I’m sure you have received an invitation like in the past: Come to our ‘free’ seminar or attend our free webinar and hear about how they can deliver you financial freedom in six easy steps
Payment redirection scams are where scammers get into the email database of official and legitimate businesses.
A sales listing scam works similarly to a rental listing scam - the scammer creates a fake listing for a property that either doesn’t exist or isn’t for sale.
Rental listing scams advertise a fake rental listing or advertisement, usually with a real address, for a property that isn’t available for rent.
Attaining wealth through property doesn’t just happen, it’s the result of a well-executed plan
Failure to research results in buying the wrong property or in the wrong location. In the long run, that will only cost you in time and money.
Smart investors buy when they have their finances ready, or perhaps they have built up enough equity in their portfolio to purchase another property.
Understanding the real estate market is crucial for making informed decisions
Buyer's remorse is also rife for property investors, even if they are successful.
delaying the start of a property investment journey is one of the biggest regrets that investors have
Perhaps you’ve done all that hard work, only to find that the market or interest rates have moved unfavourably against you.
Some property investors seem to have made a fairly good living from becoming professional project managers and adopting a buy, renovate and sell strategy
After your first couple of renovations, you’ll have a much better idea of the people and processes involved and how long it all takes to play out
This should really be at the top of the list, because obviously if you can’t get the finance you need to first purchase and then improve the property
Deciding to acquire a whole new set of handyman (or handywoman) skills by tackling a renovation project
You need to answer this question before you even start scouring for the professionals you’ll require on-site.
I’m talking about the property that presents with ideal development potential in order to realise a beneficial return.
If like many Australians you work upwards of 50 hours per week, can you really expect to take on a major renovation project all by yourself?
Maybe you’ve spruced up your own home and feel confident taking on a project that’s all about the profitability.
Improving your own home to enhance its liveability for your family will generally entail a very different approach than fixing up a rental property.
Speaking of soul, it’s important unhealthy lifestyle habits are ditched.
Thinking you know it all and that you have nothing left to learn, is foolish.
Rather than try a different approach, they continue to butt up against a wall that is not going anywhere
It’s easy to look at other people’s successes and think they got an easy ride
A lot of people are quick to blame others when things go wrong and they fail to take responsibility for the role they may have played in the situation
Despite the high-interest rate environment, housing values have remained broadly resilient
The RBA has consistently highlighted the challenges involved with returning inflation to the target range of 2-3%
The decision to keep the cash rate on hold at 4.35% came as no surprise
n the meantime, get your duck in a row and take advantage of the window of opportunity before prices rise.
While it's tempting to try to time the market to maximise your profits, this strategy is often a poor choice for property investors.
It’s literally the million-dollar question: Do you buy a property now before prices rise even further
We can debate the pros and cons of shares and property until we are blue in the face, but I think it’s a meaningless debate. It’s like debating which golf club is better.
The Commonwealth Bank, Australia's biggest lender, is forecasting six interest rate cuts in 2024 and 2025 starting in September this year
2024 it is likely that more buyers will enter the market as they realise that inflation is under control
Historically low vacancy rates and skyrocketing rents and no end in sight for the rental crisis
Over the last few years or years, one of the biggest risks to investors was the era of cheap debt coming to an end
A relatively strong Australian economy with low unemployment rates
Continuing strong immigration is creating an unprecedented demand for dwellings
While it’s likely that property price growth will be lower in 2024 than it was last year, the good news is...
Last year property prices across Australia defied expectations, rebounding in the face of continued rate hikes and closing in on record highs or even hitting new peaks in some areas.
Even if you bought the worst house at the worst possible time, the chances are good that it would still go up in value over the next few years
There are hundreds of ways you can add value to your property, which will increase your income and your property's capital value
Property is a great investment because you make all the decisions and have direct control over the returns from your property.
The return you get on real estate if you pay for your purchase using all cash (without getting a loan) isn't much higher than what you can achieve with other types of investments.
Good capital city residential property has an unequaled track record of producing high and consistent capital growth.
The rental income you receive from your investment property allows you to borrow and get the benefit of leverage by helping you pay the interest on your mortgage.
It’s often said that residential real estate offers the security of "bricks and mortar", but let’s take a closer look at why
Property investment is not just for the wealthy. It doesn't really take large sums of money to get involved in real estate.
According to the AFR Rich 200 list, which is published each year, property has consistently been the major source of wealth for Australia's multimillionaires
RealRenta can manage your Residential, Commercial, renting rooms, share/student accommodation, short term or holiday letting properties.
In every city, there are suburbs where people live because they really have no choice.
This is where most homeowners and many investors look because that’s where they can afford to buy
In general, these locations are the established inner-ring suburbs of our capital cities or suburbs close to water.
These are the upper-middle-class areas and gentrifying locations of our big cities which would also be considered A-grade suburbs
Not all real estate locations are equal and just like there are different precincts on the Monopoly board
Areas with a low crime rate are far more desirable to live in than those with a higher crime rate
Another factor to take into account for an investment-grade location is those neighbourhoods that have undergone gentrification
You will see tired old warehouses or run-down shops in surrounding streets, starting to be given a new lease on life.
Beauty, amenities, services, and walkability are all key factors that help set a high-value investment-grade suburb apart from the rest.
The availability of infrastructure and amenities is another important factor contributing to what makes a location "investment-grade.”
Investing in an area with strong job growth can increase demand for rental properties and the likelihood of finding long-term tenants
While a lot of people suggest population growth is a key driver of demand for property, it is important to look at the supply side of the equation
The first factor to consider when choosing an investment-grade location is the demographics.
You should have a plan B in case you don’t have enough cash flow to meet your debt repayment target.
Using your cash flow to repay debt is an obvious strategy. However, for some people, that won’t be enough.
In many cases, it is likely that they would have easily repaid their home loan by the time they retired, as their debt was relatively immaterial.
The goal is to reduce debt to a level where your standard of living can remain unchanged almost irrespective of the interest rate
The second consideration once you have financial buffers in place is to ensure you are repaying enough money each month to achieve two things
Many people can be very focused on repaying their home loan in full before they begin investing
With a new property cycle upon us, if history repeats itself, and it surely will, many investors will get it wrong.
It’s becoming apparent that more and more investors are looking for the next property “hotspot.”
For some reason, Australians are not as comfortable with the idea of negotiating as some of their overseas counterparts
It’s important that you inspects the property carefully and more than once to really assess its suitability.
While they say the only certainties in life are death and taxes, it’s obviously important to teach your children to plan for their future
Some things are non-negotiable when it comes to shopping for a first home.
This requires a bit of vision and a willingness to do some manual labour but is a worthwhile strategy for first homebuyers to adopt
While our first home might not be the palatial residence we dream of one day owning, it is the first step up the property ladder
Knowing how much you have to spend means avoiding disappointment and importantly
When it comes to creating a realistic budget, you have to consider the additional costs that come with owning a home of your own
Their budget should include all monthly expenses, including insurance, entertainment, and of course, things like maintenance costs and rates that come with the responsibility of homeownership.
There is a positive relationship between household income (“real income” after inflation) and housing demand
Currently, Australia’s population is around 26.5 million people, and it’s forecast to grow to 30,000,000 people by 2030
Demographics, which describes the composition of a population including population growth, structure, migration patterns, and income growth
When the government wants to inject more demand into the market it looks to incentives. Over the long term, property investors make up about 30% of the housing market.
Rising consumer confidence increases consumer spending, especially on significant purchases such as a new home or an investment property
Generally, if demand for accommodation outweighs supply, property prices will rise.
Now I’m not talking about interest rates here, but a borrower's actual access to credit
Obviously, low-interest rates make it easier for buyers to borrow more, as money is cheaper
it’s important to remember that our property markets move in cycles
We recently experienced a “once in a generation property boom” in 2020 and 2021 where the value of almost every property in Australia increased by 20% -30%
Over the last year, we experienced twelve interest rate rises, stubbornly high inflation, and economic growth has all but come to a standstill
Similar to the principle of patience, discipline sees strategic investors continue to do the right things
They recognise that wealth is the transfer of money from the impatient to the patient.
Residential Property, neither the Government, the Reserve Bank, or even the private banks are going to allow it to fail.
Attaining wealth doesn’t just happen, it’s the result of a well-executed plan. Planning is bringing the future into the present so you can do something about it now!
Almost all property investors have a goal to create some kind of financial independence.
Perhaps the biggest mistake we often see in this part of the property cycle is investors shifting their focus to cash flow.
The most obvious, but also the most uncomfortable, is to reduce your living expenses.
Understanding what your holding costs will be and then creating a buffer to get through the next 3 – 5 years.
Avoid using a bank or just an average mortgage broker, as your options may be more limited.
Higher interest rates and inflation look like they are here to stay, at least for the short to medium term
Many investors will panic and some will not stay the course, choosing to exit as things become too uncomfortable for them
Over the long-term demographics — how many of us there are, how we live, where we want to live, and what we can afford to live in
Location will do 80 % of the heavy lifting for your property’s performance
And don't believe all the hype in the media... It's too easy to get caught up in panic and drama.
few properties are “investment grade” and will strongly outperform the averages over the long term.
Remember 90% of property investors never get past the first or second investment property
The secret to financial freedom is to spend less than you earn, save the balance and then wisely invest your savings in growth assets.
In many cases, they are set up with an individual person as the trustee, which effectively neutralises a major component of asset protection.
If the trust has a loss it is trapped inside of the trust and needs to be funded with after-tax income.
Unfortunately, if incorrectly used, a Family Trust can create serious financial repercussions.
Tax risks, The name holding the assets, Loss of ownership of assets, and Additional administration
Asset protection, Minimising tax, Planning for retirement savings, Flexibility to invest in property, and Capital Gains Tax
There are seven key steps when it comes to setting up a family trust in Australia and done right, it’s a fairly simple process.
There are not just the setup costs to consider, trustees in a family trust are also liable to pay tax on any income they get from the trust.
Like any type of legal documentation, setting up a family trust does cost money.
A family trust in Australia works in a similar way to a bank account.
A beneficiary of a family trust is someone who can benefit from the assets held in the trust.
A family trust is a trust set up to hold a family's assets or to conduct a family business.
The problem is that too many investors begin their investment journey without considering what will be the best ownership structure.
These X-factors can be negative or positive and can be local or from abroad
While it’s often said you make your money when you buy your property, and that’s true, it’s because you buy the right property not because you buy cheaply
In an area that has a long history of strong capital growth and that will continue to outperform the averages because of the demographics in the area
Remember that each property boom sets us up for the next downturn, just as each downturn sets the scene for the next upswing.
Cash flow management is critical to successful property investing.
This will be more important in shaping our property markets
Have your say on 5 key legislative reform priorities to inform the development of Stage 2 rental law reform
Most jobs, most wages growth, most population growth and most of our economy happens in Australia’s capital cities
Try switching off the nightly news before the finance segment begins and watch some bad reality television instead.
any property can become an investment but few properties are “investment grade”
While cash flow is important to keep you in the game, it’s capital growth that will get you out of the rat race
One of the reasons most investors don’t develop the financial freedom they deserve is that they don’t understand the rules of money and they end up buying their properties with emotion
But don't sit around waiting for your bank to send you an email or a letter informing you if they’ve passed on the rate increase
I recommend getting your broker to send a discharge authority to your existing lender.
Most banks allow brokers to apply for higher discounts via online platforms
Typically, you should start 2 to 3 months prior to any fixed rate or the interest-only term expiration
If you would like to offer your kids a family guarantee to help them, get into the property market
If your fixed rate is expiring, then you must ensure the variable rate that will eventually apply to your loan is competitive
Different lenders will use different valuers, and valuations can vary significantly.
If you have multiple loans that relate to one property or investment, you should consider consolidating them
you need to ensure you have access to equity to fund a deposit
Some investors like to have access to as much equity in the property, even if they have no plans on using the funds.
A change in employment, income, or financial situation could either improve or impair your borrowing capacity.
Contractually, the bank doesn’t have to offer you another interest-only term – they can insist that you repay the principal and interest for the remainder of the loan term.
It has been very well reported that many mortgage holders will soon be paying much higher interest rates when their fixed rate terms expire.
Time spent worrying is time that you could spend identifying opportunities and taking action
Don’t be afraid of failing, because the biggest risk is not doing anything to protect your financial future
While knowledge is important, successful investors take action
Diversification is for people who don’t know how to invest
Be greedy when others are fearful and be fearful when others are greedy. Don’t follow the crowd because the “crowd” is either wrong or late to the party.
Don’t rely entirely on property data - it can be misleading and can be twisted to say almost anything.
Have you noticed how some investors seem to do well in good times and do even better in bad times?
Don't listen to so-called professionals, Accountants, mortgage brokers, etc.
There are 25 million property experts in Australia - everyone seems to have an opinion about the property
There will always be someone out there telling you to or not to invest in property.
Strategic investors not only buy properties, but they buy themselves time to ride out the cycle
Residential investment is a game of finance with some houses thrown in the middle
Residential property investment is a high-growth, relatively low-yield investment class
It takes the average property investor around 30 years to become financially independent.
Don’t pay attention when people tell you what the Australian property markets are doing
an unforeseen event or situation that blows all our carefully laid plans away
Even though they are armed with all the research available in today’s information age
This long-term growth of property values is underpinned by Australia’s population growth
Booms never last forever, and neither do busts.
You need resilience to be successful.
Time spent worrying is time that you could spend identifying opportunities and taking action.
Don’t be afraid of failing, because the biggest risk is not doing anything to protect your financial future.
there will always be risks when making investment decisions.
Your outside world is a reflection of your inside world
You’ll never become an expert doing a hundred things once
Don’t look for fun or excitement in your investing
Location will do around 80% of the heavy lifting of your property’s capital growth.
You need your money working for you even when you’re asleep
Cash flow is important to keep you in the property game, but capital growth will get you out of the rat race.
Property investment is part science and part art
just kick out the owner and put a tenant in
Any property can become an investment property
Timing the property market is just too hard. It’s much better to buy the best asset you can afford and hold it for the long term
Don’t listen to whom most property investors listen to for investment advice
No one really knows what’s going to happen to the property markets, but everyone seems to have an opinion.
Savvy investors surround themselves with a great team and are prepared to pay their advisors
There will always be someone out there telling you not to invest in property.
Successful investors have a long-term strategy to grow their wealth and use the correct asset protection
Taking on debt is not a problem. Not being able to repay debt is an issue, meaning cash flow management is a critical part of wealth creation.
At times of poor or no capital growth
don’t look for “what works now.” Instead, look for “what has always worked"
Property investment is risky in the short term, but secure in the long term
Within each capital city, there are multiple property markets divided by geography, price point, and type of property.
Every year we get hit by an X factor
Economists never seem to agree on where our property markets are heading and usually get their forecasts wrong
Despite the ups and downs, the long-term trend for well-located capital city properties is rising values
The economy and our property markets move in cycles
The Reserve Bank of Australia’s (RBA) decision to implement a sixth consecutive cash rate increase will add further burden to the pockets of everyday Australians
Landlords who own property in Queensland are being urged to apply for a new initiative aimed at boosting the supply of social housing in the state.
New emergency planning changes will urge homeowners to lease secondary dwellings in Queensland over the next three years.
You can end up paying this fee in 2 ways. Firstly, when you fall in love with a property and overpay.
A couple of 25-year-olds charge off to one of those investment property seminars that promise you’ll make a million dollars in six months.
This is the learning fee that you must pay when you realise that renovations are hard work
This is the fee that you pay when you buy an investment with poor capital growth because it’s in the wrong city, suburb, or street.
Did you know that statistics show that 20% of investors sell up their property in the first year and 50% in the first 5 years
We know that the Reserve Bank Board decided to increase the cash rate by 50bps to 2.35% at its September meeting.
The alarming figures are higher compared to last year when 48 reports of similar scams left 18 victims $32,320 out of pocket.
A spate of Sunshine Coast rental scams that have emerged this past week highlight the ever-constant threat of cybercrime.
Lender's Mortgage Insurance or LMI is required by lenders when you borrow at a certain loan-to-value ratio.
One of the biggest mistakes first-time borrowers make is not knowing what lenders look at when they assess your current financial commitments.
Over the last few years, lenders have restricted their criteria when it comes to the type of property they'll accept as security against a loan
While the legislation was introduced to give lenders a greater duty of care when it comes to ensuring borrowers can afford the loans they're offered
One of the toughest challenges facing first-home buyers is saving a deposit.
Over the last few years, APRA has been reviving competition in the finance sector, particularly between the big banks and non-bank lenders.
Rather than going directly to a bank, savvy borrowers are now choosing to use mortgage brokers to apply for a home loan on their behalf.
In the good old days, you had to dress to the nines and visit the bank manager to get the nod of approval if you wanted a home loan
First home buyers in particular are often unaware of just how much the true cost of home ownership is.
When interest rates are on the rise, it's common for borrowers to panic and goes about fixing their loans in an attempt to avoid skyrocketing repayments.
Given that the most talked about topic when it comes to home loans are interest rates, it's not surprising that getting the best rate often becomes the sole focus of home buyers and investors.
Some landlords mistakenly think that standard home and contents insurance is the right choice for their investment property.
Are you a Queensland property investor or are you considering investing in Queensland? Well, hold onto your hats!
we already know that investors need to put an effective investment plan in place in order to outperform market averages.
Since ‘Major Renovations’ are not clearly defined in the Strata Act, all work that does not fall under the classifications of minor renovations or cosmetic work is considered a major renovation
For this type of renovation, you need approval, which is often given by the strata committee. The strata committee is typically given the authority to approve plans, If not, a general meeting vote will be required for approval.
A strata lot, often known as an apartment, building, or office, is legally represented by a strata title, which serves as proof of ownership to the buyer of a specific unit on the strata lot
Household and individual wealth is a very influential factor for property markets and is very topical in today's markets, so let's drill down into this topic further to show exactly why it drives prices higher.
Demographics, Future population growth, and The wealth of the nation
Now we know all about property market cycles and at what stage in the cycle we’re currently in, let's talk about property price rises, and how and why they grow short-term
Yes, we’ve moved to the next phase of the property cycle. Australia’s property market boom appears to have ended, and now we’re onto the downturn phase of the cycle.
While the Covid-19 pandemic shut down life as we knew it, many businesses closed and economies tanked, there was one market that flourished – our housing market.
We already know that Australia’s property markets move in cycles.
A Queensland property manager has offered some insight into the mental and emotional toll that’s being shared by the profession and prospective tenants during the current rental squeeze.
Tenants in regional NSW are feeling the pinch of rising interest rates, with new research naming five regions set to be the worst hit by the rental crunch
Western Australia’s consumer protection body is reminding rental providers that they must still follow the letter of the law when disaster strikes.
New Queensland rental legislative reforms could have a damaging impact on the industry, according to the Real Estate Institute of Queensland (REIQ).
Even in light of consecutive 0.5 percent rate hikes, LJ Hooker’s head of research says the RBA board's action shouldn't have a dramatic impact on Australia's property markets.
When it comes to our homes though, rugging them up too much can invite an unwanted visitor – mould!
If your rental is badly damaged and becomes uninhabitable, you may need to relocate your tenants. But who covers the relocation costs?
When you consider all the expenses involved in owning your investment property, tax benefits don’t just include immediate tax deductions.
I’ve highlighted what you can claim on an investment property – but what about the costs that are not tax-deductible?
Utility fees, Pest control, Repairs & maintenance, Some legal costs, and Capital gains
Property management fees, Depreciation, Negative gearing, and Land tax
What kinds of expenses can you claim when you own an investment property?
The majority of the costs associated with owning a rental property can be deducted against your regular income tax bill, which reduces the amount of tax you pay overall.
Ideally, you want the next tenants to move in the day your property is available to avoid any loss of income
Rental demand doesn’t look likely to ease any time soon, particularly with our borders reopening and international students returning, filling the once vacant CBD apartments.
It all started in 2017 when APRA restricted funding to investors, meaning the number of investors providing rental accommodation decreased
There’s a shortage of rental properties available, both houses and apartments
Life is an unpredictable myriad of moments full of many highs, lows, and all the mundane stuff.
When buying a home, about 90% of your purchasing decision will be based on emotion, and only 10% on logic
It’s a common question and one which is very important to answer before embarking on a new investment: Will the cash flow from this property be sufficient to service my financial requirements?
Working out how to structure your investment property purchase is a critical consideration that must be determined before you buy (it’s too expensive to change ownership structures later on).
Smart property investors use other people’s money in three ways…
Finance is the leveraging tool to help you get into the property, and property will be the vehicle that will create your long-term wealth.
It is very important to understand what has driven the data you’re using to make your decisions because not all data is reliable or meaningful.
Two houses, side by side in the same street could be valued differently because of their individual attributes.
The once-in-a-generation property boom we experienced during the Covid pandemic and which was fuelled by historically low-interest rates
Property on the Gold Coast, QLD for sale
Planning is bringing your future into the present so that you can do something about it now.
This is the part of the process where you can truly celebrate a job well done and cash in on all of your hard work!
Sometimes, just replacing small fixtures and fittings can make a difference
These are the two main areas of renovation that will chew through your budget.
Flooring is an affordable way to transform a property’s look and aesthetic.
As well as a fresh lick of paint on the outside of the house, a revamped paint job inside can make all the difference.
An appealing first impression is the beginning step to attract tenants' (or eventual buyers') interest.
Work out early in the piece which experts you would like to hire and start arranging quotes.
It goes without saying that you will need to work out a budget for your renovations.
Before you begin doing the work, do your homework. What’s the demographic of the area? What’s the particular style of the neighborhood?
Find out if you need council approval – or body corporate approval if the property is in a unit complex
Buy low, renovate cheap, and add substantial value is the aim of the game. It sounds simple enough, right?
Over the long term the value of well-located residential real estate increases but there are times every property cycle when values stagnate
Having afriendly property manager is great. Having a property manager who is overly friendly and too trusting is not.
Your property manager should be providing you with a report each month that details your property’s financials
They don’t inspect the property regularly
Hiring a property manager is just one of those expenses that come with having a property investment - Or is it
No one likes being bombarded by endless calls, texts, and emails, but it’s much worse if your property manager never checks in.
A property appraisal is when a real estate agent determines and quotes the estimated sale price of your property based on their experience of the area, similar sales, and their knowledge of buyer demand.
A property valuation is a formal, detailed report undertaken by a certified practicing valuer (CPV) that determines a property’s market value and examines the property beyond its size and location.
You’ll almost certainly find problems in every property – even experienced investors do
One of the simplest ways to do this is to undertake a cosmetic renovation to ensure the property is looking modern and clean
As an investor, you need to focus on the type of property and location that has always worked – not what is working right now
Having a good team around you to support you through the entire process is essential.
The agent works for the sellers, not the buyers, so don’t be fooled into thinking they have your best interests at heart.
There’s an entire world of rental markets outside your own neighborhood, so don’t limit yourself.
When buying an investment, don’t look for a property that you would love to live in, or where you plan to holiday
It’s essential you make sure you have a budget to cover the unavoidable but sometimes unexpected costs of owning a home.
It’s so important to get the right finance, and having a great mortgage broker can really help.
When you’re buying a property, there are three major factors involved
While your team of professionals will be able to help you decide on the location and property type, you should keep the following in mind.
You need to budget carefully to allow for contingencies associated with your income-producing asset.
The ability to save and practice financial discipline is a crucial part of real estate investing and getting approved for finance:
Once you’ve found the right home loan for you, apply for pre-approval as this offers increased negotiating power.
The investment loan market is highly competitive and this means you can find a mortgage product with features such as an offset account, the ability to make additional repayments, a redraw facility, and minimal ongoing fees.
You may want to consider co-borrowing, which involves two or more owners agreeing to share the costs of ownership.
As a rule of thumb, banks want you to come up with at least a 20% deposit of the purchase price, even though sometimes you can put less down and pay for lenders’ mortgage insurance (LMI).
If you want to invest in property, you need to start saving as early as possible.
Leverage a pool of qualified professionals by speaking with local agents and brokers to help you understand the market and decipher whether or not the purchase would meet your investment needs.
Young investors should become familiar with property investing and different markets
It can be an exciting time when buying real estate, can’t it?
During a boom, everyone is an optimist and expects the good times to last forever, just as we lose our confidence during a downturn.
Most investors believe there is a direct relationship between risk and reward
If you are the smartest person in your team you’re in trouble.
We are getting married later, divorcing more often, and living longer.
Of course, not every property in a given suburb will make a good investment or have similar capital growth.
Smart investors buy properties with a high land-to-asset ratio.
Investors know the only way to eventually become financially free through property is to build a substantial asset base.
Wise investors never forget the age-old fundamental of buying the best property they can afford in proven locations.
Even though they think they are investing, many property investors are actually speculating.
So let’s look at some time-tested rules these successful investors use to make their fortunes.
If you’ve failed in your duty of care (e.g. failed to repair broken locks), you could also be liable for losses your tenants suffer too.
It’s not something anyone wants to think about, but as a landlord, you just may find yourself having to go to court
You might be surprised just how often landlords need to make a claim for damage caused by a water pipe bursting and flooding the home.
Mother Nature can be very unpredictable and there’s no telling what will happen when wild weather strikes.
You can have the best tenants in the world, but your rental might suffer accidental damage.
As a landlord, you could find yourself dealing with the financial hole that’s left if your tenant fails to pay their rent.
Insurance can seem like a waste of money, especially if you don’t need to make a claim.
While some things change, one thing remains clear – landlord insurance is a wise investment.
Having the right mindset is critical to investment success.
Be greedy when others are fearful and be fearful when others are greedy.
No one really knows what’s going to happen to the property markets.
Taking on debt is not a problem. Not being able to repay debt is an issue, meaning cashflow management is a critical part of wealth creation.
Property investment is risky in the short term, but secure in the long term. It is definitely not a way to get rich quickly.
The economy and our property markets move in cycles. Booms never last forever, neither do busts.
The property pessimists will still be out there next year telling us not to invest and that our property markets are going to crash.
So far this property cycle has been driven by owner-occupiers and first home buyers, but now more and more investors are getting in the market.
During the last few years, fear of missing out led inexperienced investors and homebuyers to purchase almost any property that their budget would allow
APRA has only really tapped its foot on the brake pedal
The official RBA interest rate is likely to remain unchanged throughout 2022
With the prolonged lockdowns in Australia’s two largest cities keeping people indoors and spending less, households have squirreled away an estimated $200 billion this year.
Most property markets have performed strongly so far this cycle. Moving forward the rate of price growth will slow and there are several reasons for this.
In general property values should increase throughout 2022, but at a slower rate of growth than 2021.
You’ll never find a perfect property. You’ll almost certainly find problems in every property
Don’t look for the next hotspot.
When buying an investment, don’t look for a property that you would love to live in, or where you plan to holiday.
It is essential you make sure you have a budget to cover the unavoidable costs
The hectic conditions of the current property market have many first-time investors feeling the pressure to secure a property before they’re priced out.
All four big banks have now hiked fixed rates following the RBA meeting 10 days ago.
However, analysis of the largest 7 capital cities in Australia shows a clear trend of both house and unit prices growing faster than incomes over the last four decades.
APRA’s recent increases to banks’ loan serviceability expectations are intended to cool rapidly rising prices, but industry experts warn that there could be unintended consequences.
When it comes to investing in property for the first time, you may feel like you’re in over your head. - What are the risks?
When it comes to investing in property for the first time, you may feel like you’re in over your head. - Control
When it comes to investing in property for the first time, you may feel like you’re in over your head. - Financial benefits
When it comes to investing in property for the first time, you may feel like you’re in over your head. - Compounding over time
Is your desire to sell driven by fear or finances?
Is it a good time to sell?
Is the property investment grade?
55.2% of the respondents of a recent survey believe now is a good time to invest in residential real estate
New lending rules are about to kick in, which will limit the amount people can borrow from the bank.
Buying your first home has always been one of the highlights of many people’s lives. - Not doing proper due diligence
Buying your first home has always been one of the highlights of many people’s lives. - Over-extending financially
Buying your first home has always been one of the highlights of many people’s lives. - Not factoring in all the real costs
Buying your first home has always been one of the highlights of many people’s lives. - Avoid buying emotionally
Time is always of the essence when it comes to a notice to vacate. As a self-managing landlord, it’s important for you to be proactive to reduce confrontation and headaches, but also move new tenants into your house without losing weeks of rent.
When a tenant vacates your property, it’s important to understand your rights and responsibilities to avoid disputes and potentially save time and money.
The Australian Prudential Regulation Authority (APRA), has made a simple, but significant change to the lending rules for banks and other authorised lenders.
In the simplest of terms, tenants pay money to the property owner in exchange for being able to live in the place.
Many investors are hesitant about buying property interstate because they’re uncertain about buying a property without both seeing it first, and also being able to revisit when they like.
As far as I’m concerned, there are two main things to consider when becoming a borderless property investor, and they’ll be the make or break of your investment.
There are a number of clear benefits of becoming a borderless investor.
When you’re thinking about investing in property, there are three key things to consider. Your budget, Location, and The right property
Landlord-tenant law includes rights and obligations each landlord and each tenant has with regard to the rental property
It depends on how long you intend to lease the property, but in most cases, homeowners insurance coverage won't be an appropriate substitute for rental property insurance
When you're shopping for rental property insurance policies, you may notice that there are different types of policies
Rental property insurance, also called landlord insurance, covers the unique risks taken in renting out your home or condo for long periods of time
70 percent of landlords want to receive rent immediately from their tenants or to have the flexibility to choose when they are paid.
More than 30,000 Australians relocated to the Sunshine State in 2020, a 15-year high.
House prices in some of Australia’s more popular school catchment areas have soared by as much as 46% over the past 12 months.
Use this handy checklist to help you with your next rental property inspection.
As a landlord, you’re ultimately responsible for the upkeep and condition of your property, even when you’re renting it out.
Breach a Tenant’s Right to Quiet Enjoyment, Show Up Unexpectedly, Ignore State and Local Law, Give a Vague Notice
Give Proper Notice of Any and All Inspections (24-48 hours)
Maybe you’re suspicious one of your tenants is breaking the lease’s pet policy. Maybe you just haven’t checked in with them for a while.
Here are a few do's and don’ts to keep in mind when performing a rental property inspection.
Rental property inspections come in several types, including Move-in inspections, Quarterly inspections, Drive-by inspections, and Move-out inspections
What are they? A rental property inspection can be performed by the owner, tenant, or both whenever they move in or out of the property
If buying your own home still seems out of reach, consider buying a home for someone else instead.
For example, if you’re an apprentice earning first-year wages, you might not qualify for a loan – but you can start putting aside $50 a week for a deposit.
First, get to the bottom of the reason why haven’t bought you.
But complaining about a lack of affordability isn’t going to get them anywhere: instead, they need to starting turn attitude into action.
This is where experienced investors will have the advantage over you every time.
Maybe you took advice from a well-meaning relative, or read on a blog somewhere about the next big thing in real estate
This is a common mistake many investors make, and it can ruin them.
If you’re looking to buy an investment property and you can’t quote vacancy rates and median rents verbatim, then you need to go back to the drawing board.
Sure the property itself needs to be desirable to owner-occupiers and tenants, but buying in the right location is the most important factor.
You’re investing in property to secure your financial future and build wealth
Make sure you buy the right property for its location.
If you’re a first-time investor, champing at the bit to purchase the first property in what will become your wealth-building real estate portfolio, it can be a daunting task knowing where to start.
A lack of properties to buy at a time of rising property values creates uncertainty about being able to find a better alternative.
Furry friends will be more welcome in New South Wales strata schemes from 25 August
With the Australian Capital Territory extending its lockdown, the government has urged landlords, tenants and rental providers to work together closely over the coming weeks.
However, throughout my years in the industry, I’m struck by the number of agents who have an exterior display of “wealth” yet continue to struggle with something as basic as owning their own home.
But they are asking the wrong question: creating lasting wealth through real estate investing is not about the actual transaction or event of buying a property
Developing a life-long pursuit of learning and educating yourself is important for every individual
This is the phase where the investor’s asset base grows sufficiently, to allow them to leverage off their increasing equity and cash flow to buy more properties.
This is the next phase some property investors move into if they have critically examined what works for them and what doesn’t
This is the earliest phase, where property investors learn about investing by trying different strategies and listening to every point of view in the market.
Buffett’s entrepreneurial spirit dates back to when he was a little boy.
As Benjamin Franklin once said:“A penny saved is a penny earned.”
The best way to inspire the next warren Buffett out of your child is to act as a great financial role model yourself.
Saving even a little bit of money on a regular basis pays off
Warren Buffett is arguably one of the best investors of all time and has an excellent track record of creating and maintaining his wealth dating back to his early entrepreneurial days starting at just five years old.
Ashleigh Petrie nominated her mother as the sole beneficiary of her super. However, Ashleigh’s 63-year-old fiancé was successful in claiming her full super balance after she died in a car accident.
They say you should beware of common tax traps that can delay refunds or lead to an audit costing you time and money
Someone is sitting in the shade today because someone planted a tree a long time ago.
The Reserve Bank of Australia has made its latest call on the official cash rate.
Thinking of converting your home to an investment property one day? You’re not alone…
Another major difference between residential and retail leases is that the tenant is required to pay additional costs.
Unlike residential leases where tenants are usually not allowed to make any changes to the property, retail leases are kind of the opposite.
Retail lease rent increases generally happen every year and can be by a fixed-rate, percentage increase, or commonly reflect the Consumer Price Index increase.
More and more sophisticated investors are considering commercial real estate as a viable investment strategy.
With lockdown restrictions tightening across NSW and extending in Victoria, Australia’s banks have rolled out extra support to affected customers.
Having a mortgage is even more likely to be cheaper than renting than it was pre-pandemic, new research has revealed.
In just four short years, the Refalo family has doubled their investment portfolio, enabling them to explore the possibility of a semi-retirement in the near future.
I’ve known investors who own property without having landlords insurance and to me, that’s like playing Russian roulette!
Rushing into decisions before you have had a chance to mull over all the facts is never a good idea
While location does the heavy lifting in your investment property’s performance
Buying an investment property and then preparing your property for the rental market will require a certain amount of time and money.
As around 80% of your property’s performance will be due to its location
Buy the type of property that would appeal to owner-occupiers
Supply and demand are important – and I don’t just mean supply and demand of rental properties.
When you make the decision to become a landlord, there are a number of ways to minimise your risks
There are a number of reasons why a person may want to invest in property, but they never actually get around to it.
Leading economists are now predicting that rates will move faster than the RBA’s lower for longer forecasts, with those who want to lock in record-low rates urged to act before it’s too late.
The past year has raised new tax issues for mum and dad property investors, with many expected to cop a hit this tax time.
Let’s say you’ve gone full steam ahead and just wiped the final dust from your upscale bathroom renovation.
Understanding what separates repair or maintenance work from an improvement requires asking yourself the right questions prior to starting
No doubt, remodeling a space is a sure-fire way to attract a rental crowd and increase its value to potential tenants.
Ultimately, maintenance claims can include any type of work done to the property that prevents it (or a part of it) from deteriorating or eventually becoming broken or unusable.
The Australian Taxation Office stipulates that a rental owner is entitled to claim the costs of any type of work done to an investment property, provided that the expense ultimately contributes towards its overall maintenance and repair.
The bigger the better. Ideally, you will have about 20 percent of the house purchase price saved up. This is a good idea for a couple of reasons.
The lender may ask for three to six months of bank statements for your transactional accounts so they can identify incomings and outgoings.
Pulling together the information for a loan application can seem daunting, and may even feel a little invasive.
Finally, where is the wriggle room? When you buy a brand new property, your room to negotiate prices is strictly regulated by a set-price list.
New properties don’t cost that much more than established properties.
People think there is less maintenance involved in a new property
why buying a brand new house or unit is enticing. However, that doesn’t mean it is a smart decision. There are more tax benefits for new properties
The fresh smell, the clean slate, the low maintenance - are just some of the reasons why buying a brand new house or unit is enticing. However, that doesn’t mean it is a smart decision.
Short term lets – more vacancy, more costs
Tenants love them and they can really add value so try and get as many of these in your property.
I own lots of Pet-friendly accommodation
This one is a little bit counterintuitive but it means you will have much better inquiries
Professional photos advertising your property, feature property status putting them on page 1 of the most dominant portals
Rents need to increase to keep up with inflation
Westpac has said that moves to tighten lending standards could come earlier than it previously predicted.
The goal for most investors is to accumulate enough wealth so your investment assets generate sufficient passive income to meet living expenses.
Every insurance policy is different and you have to look at what is coved and what is not
Do not wait until it is too late. While it seems odd to delay issuing a breach notice, it is common in a downturned property market where rents are decreasing
Landlord insurance is a great safety net when something goes wrong.
That is great news! Apart from making sure, you have a thorough record of the breach
Tribunals have been known to completely reject a landlord’s claim in court simply because the notice wasn’t served correctly.
As soon as a tenant is behind in rent, a breach notice should be issued immediately to prevent further loss.
But, what happens when they break the rules on the lease and how does it impact your insurance?
So let’s take a look at why some properties are more valuable than others - Solid returns on investment
So let’s take a look at why some properties are more valuable than others - Gentrification
So let’s take a look at why some properties are more valuable than others - Infrastructure
So let’s take a look at why some properties are more valuable than others - The character, style, and appeal of homes
So let’s take a look at why some properties are more valuable than others - It turns out size does matter, after all
So let’s take a look at why some properties are more valuable than others - Where we want to live
If you think it’s harder to rent out your property than ever before, you’re not imagining it. - Choose the right way to rent your property
If you think it’s harder to rent out your property than ever before, you’re not imagining it. - Listen to constructive feedback
If you think it’s harder to rent out your property than ever before, you’re not imagining it. - Pivot your target market
If you think it’s harder to rent out your property than ever before, you’re not imagining it -Invest in stronger marketing
If you think it’s harder to rent out your property than ever before, you’re not imagining it. - Renovate the property while it’s vacant
An apartment is the first rung on the property ladder for many first home buyers, especially those priced out of a freestanding or attached house in Australia’s priciest capital cities.
More and more investors are using their Self-Managed Super Fund (SMSF) to buy an investment property. Some of the most common mistakes people are making and how you can avoid them - Purchasing from a member
More and more investors are using their Self-Managed Super Fund (SMSF) to buy an investment property. Some of the most common mistakes people are making and how you can avoid them - Stamp Duty
More and more investors are using their Self-Managed Super Fund (SMSF) to buy an investment property. Some of the most common mistakes people are making and how you can avoid them - Life Insurance
More and more investors are using their Self-Managed Super Fund (SMSF) to buy an investment property. Some of the most common mistakes people are making and how you can avoid them - Renovations
More and more investors are using their Self-Managed Super Fund (SMSF) to buy an investment property. Some of the most common mistakes people are making and how you can avoid them. - Associated Party Loan
More and more investors, and particularly Baby Boomers, are using their Self-Managed Super Fund (SMSF) as a vehicle to buy an investment property. So, I’d like to share some of the most common mistakes people are making so you can avoid them - Debt
Ending a Rental Agreement - Reasonable and proportionate test for VCAT - Claiming bond - Notice to vacate for endangering safety
During a rental agreement - Modifications - Urgent repairs - Inspections and rights of entry - Electrical and gas safety
Moving in - Rental minimum standards - Keys and security
Before you sign a lease
Whether you’re a renter or rental provider (the “official” new name for a landlord), there are a new set of rental rules that you should understand.
Take action - Begin by developing a mindset for your business success
If you are serious about growing a very significant property portfolio and establishing a real “property investment business” – Begin with the End in Mind
Retirees / Downsizers
Are you looking to invest in property and take advantage of the new property cycle?
You can’t have successful property investment without tenants but too many landlords pay scant regard to their tenants – to their financial detriment.
With an increasing number of Australians now residing in apartment complexes, certain activities that residents used to freely carry out in freehold house has become a contentious topic of discussion among a number of Body Corporates.
12 KEY TIPS
Children drawing on walls or sticking gum in lifts is enough to raise the ire of any tenant.
Smoking in enclosed areas of the common area of common property is prohibited by law under theTobacco and Other Smoking Products Act 1998
It isn’t uncommon for strong cooking odours to waft through mechanical ventilation systems and impact larger areas.
Most body corporates have a by-law that states a unit can’t be used for immoral or improper purposes.
Excessive noise is always an issue and isn’t just restricted to the unit dwelling
The issue of animals being kept in unit dwellings has long been an emotive topic that has generated heated debate among both tenants and the wider community.
It’s the body corporate’s responsibility to maintain the building and ensure the upkeep of common areas.
Tenants parking in the visitor bays, tenants parking in the wrong bays
The quality of landscaping in common areas, as well as the style and type of plants used, can result in tenant complaints.
Children running amok in a unit complex are bound to attract the attention of other tenants.
Residents of NSW apartments are another step closer towards being allowed to legally keep a pet with the passing of a crucial law in parliament last week.
A written lease is very important. You need the right rental agreement for your situation and state
Debt recycling may be a little confusing, so let’s explain it with a seven-step guide.
Simply put, debt recycling is a strategy that turns your current home equity into a tax-deductible investment loan.
Somewhere along the line, you were probably taught that debt is a problem. But, I don’t agree with that.
You were probably taught by your parents to get a good education, a good job, buy a home, work really hard and pay off your debt.
Rent reality
External features
Security matters
Allowing pets
It’s no secret that the rental market in some parts of the country is sluggish. Renovation
While modern life is exceptionally busy, any decent financial Adviser will tell you that today is the best time to start planning for your retirement; the earlier you plan, the better placed you will be to enjoy it.
While this type of transaction can be beneficial in many ways, it can also be tricky.
When you sell your property to a tenant, you’re selling to a buyer who has lived in the home already
Renting out a property always comes with some trepidation.
Australian Capital Territory and Northern Territory
South Australia and Tasmania
Queensland and Western Australia
New South Wales and Victoria
Every landlord will eventually face a situation in which they need to evict a tenant.
It’s one of the worst nightmares for landlords – a tenant who hasn’t paid rent for weeks and won’t vacate the property.
Tenants always think their rent is too high and of course, landlords want to take to maximise their investment returns.
Occasionally you will be contacted by your tenant or property manager advising that you are going to have to repair an item in your rental property
While you may feel like checking on how your tenant is looking after your property, you can’t just pop in whenever you feel like it.
During a residential tenancy, landlords have a number of responsibilities to their tenants, which are enshrined in the relevant legislation.
When it comes to utility and services charges, there are varying rules around this across the country so it’s important to check your relevant state authority.
As the landlord, you have the right to request rent on a weekly, fortnightly, or monthly basis
Rental bonds are paid by tenants at the start of their tenancy and are a goodwill payment held in trust by the specific state government rental authority
How do you choose a tenant?
Valuers show up, poke around and then send a verdict to the lender about whether the price paid, or estimate made, ‘stacks up to market’.
Buying with a friend seems like a good idea, doesn’t it?
There are many different ways to invest in real estate, but the most commonly known method involves purchasing and renting out residential properties
A successful property portfolio is one that is not reliant on you, as the investor, to dictate its performance, a property guru has said.
The ACCC has set its sights on helping home loan borrowers save money by upping their engagement with the home loan market after its Home Loan Price Inquiry revealed some interesting facts.
The Reserve Bank of Australia has made its first call on the official cash rate for this year, following its decision to cut the rate to a historic low in November.
All 130-plus rental standard reforms from the Victorian government are now available for viewing, in a bid to make renting “fairer” for both tenants and landlords from March this year.
What can RealRenta do for you?
Making friends gives us a warm, fuzzy feeling right?
To maximise the return on your investment, it is essential to keep on top of where the rental market is heading
One way to make sure you get the best tenant to look after your asset, whilst at the same time ensuring it retains its long-term value
I’m sure you’ve heard it said that you should treat your property investments like a business.
Over many years in the industry, I’ve come across plenty of Bad property managers and that is why I built RealRenta
The property market moves in cycles
Understand where the risk really lies
Real estate investing is a game of finance with some properties thrown in the middle.
Surround yourself with a great team
Demographics hold the key
Buy properties that will be in continuous strong demand
Land appreciates
Property is a high growth low yield investment
It’s about the property
They invest, not speculate
They take a long term perspective.
A successful property portfolio is one that is not reliant on you, as the investor, to dictate its performance
Asset-rich, cash-poor Australians can use the equity in their properties as a way of topping up any shortfalls in retirement.
A property investor has predicted Australia’s median house price will surge to over $1 million in the next three years, as the economic recovery acts as a tailwind for the industry.
Wishing you all a Merry Christmas and a happy new year
Ensure your house and garden are child-safe
Missing out on a property that you have your heart set on can be a very disappointing experience
Prospective purchasers need to do some homework
There are a number of ways to search for potential properties.
Knowing what you want in a property before you start can save you a lot of time
Real estate has proven its resilience once again as prices rise over the year and forecasts point to further strengthening, the Property Investment Professionals of Australia said.
Here at RealRenta, we are here to help and it's FREE to get a financial check to make sure you are getting the best deal on your loans.
As markets heat up, typically more vendors take their property to auction. There are a number of reasons why a vendor might be willing to sell before auction day.
Poor property selection, Poor cash flow management, Wrong ownership structure, and more
Many factors make a good investment property. Today, let’s focus on six main areas.
Aside from the time frame, there are subtle differences between the three different types of tenancy agreements
What’s the deal with landlord insurance and rental bonds?
What happens if there is disagreement about the refund of the bond?
When can a landlord claim against the bond?
When is the bond released? And to whom?
What happens if a co-tenant moves out?
Who holds the bond?
Who collects the bond?
Who pays the rental bond? Whose money is it?
How much is the bond?
This is what you need to know about the bonds that tie tenants to landlords… and what it has to do with landlord insurance.
GOLD Coast families fear they could be left homeless as the city’s rental market struggles to keep up with unprecedented demand from local and interstate tenants.
Maybe a director of the corporate trustee of your family trust? - Then you should know that the Government recently passed Bills to amend the Corporations Act 2001 to introduce a ‘Director Identification Number’ (DIN).
When an Owner or Tenant Complains
TYPES OF CONTRAVENTION NOTICES
Ensuring that your tenants are happy - How are By-Laws Enforced?
Ensuring that your tenants are happy - How to Resolve a Dispute
Ensuring that your tenants are happy - Difficulty reaching you (or your property manager)
Ensuring that your tenants are happy - Pests and cockroaches
Ensuring that your tenants are happy - Lack of privacy
Ensuring that your tenants are happy - Damage to common areas
Ensuring that your tenants are happy - Smoking
Ensuring that your tenants are happy - Odours
Ensuring that your tenants are happy - Noise
Maintenance and upkeep
Ensuring that your tenants are happy - Parking
Despite the financial fallout of the pandemic this year, a good chunk of Australians still believe the time is nigh to invest in property
Ensuring that your tenants are happy - Animals
Landscaping
Investors think that the hardest part of becoming an investor is searching for and finding the right investment property. Common tenant complaints - Children
If you sell your property, capital gains is a tax that investors hate! - It’s like the boogie man of taxes.
QUEENSLAND is on the cusp of a property boom that could lead prices to skyrocket by more than 20 percent in some areas and last for years to come.
The “negotiation” learning fee
The “buying with emotion” learning fee
The “I got eaten by a shark” learning fee
The “renovation reality” learning fee
The “capital non-growth” learning fee
Choosing the right investment property comes down to knowing what you need, knowing what you can afford, and knowing exactly what’s available at the time you are ready to buy. - The “Oops, I bought the wrong property “learning fee”
Renters are finding it easier to make their rental payments than at the start of the COVID-19 crisis, but feel less sure about their future post-pandemic.
The New South Wales Court of Appeal has struck down an attempt from one of Sydney's most famous apartment buildings to ban pets.
Accelerate Wealth pride ourselves on challenging the conventional way people go about property investments
RealRenta automates the whole process of managing your tenants - at a fraction of what property managers charge
You’re probably very familiar with the term “responsible lending” these days
Investors are being advised that strong portfolio management can help both investors get ahead if their relationship falls apart.
Be sure to acquire the research and knowledge that will allow you to mitigate your risk and give you the best chance of real success - SET A REALISTIC DEADLINE
Be sure to acquire the research and knowledge that will allow you to mitigate your risk and give you the best chance of real success. - RENOVATE TO CAPITALISE
Be sure to acquire the research and knowledge that will allow you to mitigate your risk and give you the best chance of real success. - FIND THE RIGHT SUBURB, AND THEN THE RIGHT PROPERTY
Be sure to acquire the research and knowledge that will allow you to mitigate your risk and give you the best chance of real success. - HOW MUCH WORK DO YOU WANT TO DO?
Be sure to acquire the research and knowledge that will allow you to mitigate your risk and give you the best chance of real success. - FINANCES: CAN YOU AFFORD IT?
Be sure to acquire the research and knowledge that will allow you to mitigate your risk and give you the best chance of real success. - FEASIBILITY: DO THE NUMBERS ADD UP?
The NSW government’s decision to extend its rental moratorium has been hit with criticism, with flow-on effects set to severely impact mum and dad investors.
The consumer watchdog is warning of an increase in rental and accommodation scams, with more than $300,000 lost to fraudulent activities this year alone.
POOR (OR NO) MAINTENANCE
NO, FOLLOW THROUGH
CONSISTENTLY LATE REPORTS
LACK OF COMMUNICATION
It’s a truth universally acknowledged that you can’t have a successful property investment without tenants paying you rent regularly. - COMPLIANCE ISSUES
The top concerns investors have when they’re engaging a Property Manager. From security checks to inexperience, here are the worries landlords have and how you can alleviate them.
With the gorgeous spring weather on its way, many of us will be motivated to do a bit of a tidy up.
Claim on Insurance - The good news is if you have followed everything above you should not have any problems claiming insurance on everything (well most things).
Loss of rent and other compensation - If the tenant has not paid any rent since serving the eviction notice you are most likely down about 8 weeks rent in total. - So let’s get your money back!
Police lockout - If the tenants still don’t move out you can apply for a Warrant of Possession.
Tribunal hearing day - If you have prepared everything this will be a breeze.
Prepare for Tribunal - Preparation is key.
Apply to tribunal - If you have done everything from the last blogs, it’s rare you’ll need to go to Tribunal. On average when managing 100 properties you would go to the tribunal once a year.
Termination notice - Regardless of their excuses the day they fall over 14 days behind in rent is when you need to give them a termination notice.
Although most states are similar in nature this section, in particular, is specific to Victoria but other states are also coved.
Consistent late payers - In Victoria, you can only give your tenant a termination notice if they are over 14 days behind in rent. (Other states Breach notice after 7 days and a notice to leave after 14 days)
Repayment plans - I don’t like repayment plans but they do show the tenant you care. It also helps to demonstrate to the tribunal and to your landlord insurance company you have tried to minimise the loss of rent
Document conversations - You need to document all these conversations because you might need to refer back to them if you have to go to Tribunal or make an insurance claim later on.
Be objective - When you’re speaking with your tenant you need to leave your personal feelings out of it.
Good communication - As a guide, you should call your tenant when they are 3 days in arrears (late) and then call again every 2nd day after that.
If you have done everything in the last tips you have put yourself in a great position for a nice uneventful tenancy - Send late notifications if they’re behind
Get landlord insurance - How does getting landlord insurance reduce the chances of your tenant paying late you ask?
Keep up with repairs & maintenance - One of the main reasons a conflict will start between a landlord and the tenant is because repairs of the property are not carried out in a reasonable timeframe
Regular inspections
Keep proper records of rent collection
Direct Debit and BPay rent payments
Set the tone with the right documents - In Property Management that it’s far more efficient to spend a little extra time to avoid problems rather than wait and deal with them if they come up.
Find the ‘right’ tenant - In Property Management it’s far more efficient to spend a bit of extra time to avoid problems rather than wait and deal with them if they come up – because they will.
Excel, with its hundreds of columns and fancy mathematical equations. It looks so professional when really, you’re making property managers lives hell?
As a property investor, it’s your job to maximise the return of your assets. One way to do this is to maximise your rent. - Mod cons
As a property investor, it’s your job to maximise the return of your assets. One way to do this is to maximise your rent. - Set a rent at 95% of the market - Consider Pets
As a property investor, it’s your job to maximise the return of your assets. One way to do this is to maximise your rent. - A good tenant - Some Don’ts
As a property investor, it’s your job to maximise the return of your assets. One way to do this is to maximise your rent. - Longer leases - Minimise vacancies
As a property investor, it’s your job to maximise the return of your assets. One way to do this is to maximise your rent. - Refresh - Include garden maintenance
Typically, property investors not only have investment loans but also a home loan which is not tax-deductible, so they’re keen to pay this off as soon as they can.
Owner-occupiers who are paying principal and interest on their mortgage are being rewarded by the financial institutions with a lower interest rate.
How do you give a listing everything it needs to make sure you attract quality tenants? Use this guide to get the most out of your next rental listing. - Don’t forget the essentials. - Keep your local area in mind
How do you give a listing everything it needs to make sure you attract quality tenants? Use this guide to get the most out of your next rental listing. - Lead with a compelling headline. - Avoid using too many clichés
How do you give a listing everything it needs to make sure you attract quality tenants? Use this guide to get the most out of your next rental listing. - Stop trying to look like everyone else
How do you give a listing everything it needs to make sure you attract quality tenants? Use this guide to get the most out of your next rental listing. - Be generous and provide extra photos. - The quality of your photos is key
How do you give a listing everything it needs to make sure you attract quality tenants? Use this guide to get the most out of your next rental listing - Show off your best features
Some investors believe that increasing cash flow is the best option for the long term, sustainable wealth
Australia certainly stands out as an animal-loving nation with some of the highest rates of pet ownership in the world. What is the landlord’s legal responsibilities?
Do you know that over 60% of Australian households own a pet? Now what’s also interesting is that many landlords and managing agents to have a ‘no pets’ policy on rental tenancies.
The NSW state government has abolished stamp duty for new homes under $800,000, in a bid to support first home buyers and the construction industry.
All the tools you need to manage your own property
Not having interest-only loans - The days of working diligently our entire lives to pay off our mortgages and then retire are thankfully over
Not using an accountant who understands property - Compared to two decades ago, property investment today is a profession in its own right
Not holding for the long term - A combination of some of these mistakes will often result in investors having to offload their properties early.
Not increasing the rent regularly - Then renting an investment property the Holy Grail is having long-term tenants
Not having a depreciation schedule - Some landlords incorrectly believe that depreciation is only claimable on a new property
One of the most important of them all is using property management platforms to do the heavy lifting for you and help you with all your property management needs. * Not having insurance * Not treating property investment as a business
One of the most important of them all is using property management platforms to do the heavy lifting for you and help you with all your property management needs. * Not keeping your distance from tenants
One of the most important of them all is using property management platforms to do the heavy lifting for you and help you with all your property management needs. * Not having fixed-term leases
One of the most important of them all is using property management platforms to do the heavy lifting for you and help you with all your property management needs. * Not budgeting for maintenance
One of the most important of them all is using property management platforms to do the heavy lifting for you and help you with all your property management needs. * Not considering vacancy rates * Not knowing the market rent
What you can charge for Bond
It is a landlord’s obligation to make sure their tenants are living in a property where everything works
There are several states in Australia at the moment, experiencing some weakness in the rental market, due to oversupply and other economic factors.
The Reserve Bank of Australia (RBA) has announced its decision on the official cash rate for July amid speculation the central bank has reached the lower bound.
Warned that landlords should check gas heaters every 2 years after 2 children died in a tragic gas leak accident.
Setting the right rental price is crucial to make sure you get the right types of tenants
RealRenta cuts the expensive middle-men right out of the property management equation.
The Hunter Valley is one of NSW 's fastest growing areas
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Pimpama is situated at the northern end of the Gold Coast.
With rent increases in Australia’s capital cities experiencing their slowest growth rate in nearly 20 years and residential vacancies continuing to surge, there’s no denying tenants are in the driving seat at the moment.
Do not buy an investment property just because it has a tenant.
Here are RealRenta, our property strategist partners can help you grow your portfolio with their expert advice and years of experience in the Australian residential property market.
We have had a number of our clients purchase in this area in the past couple of months and have been very happy.
Property investors often worry about ongoing repairs and maintenance costs however these concerns can often be reduced by claiming back these costs when completing a tax return.
Greenbank is an area that is opening up in Brisbane, and is offering investors good returns
Here is a quick checklist to make sure your property is tenant ready when you have run out of time
Here at RealRenta, our landlords enjoy a variety of options for advertising their properties across various online platforms.
An electric shock occurs when a person comes into contact with an electrical energy source
Exciting new estate 28km from the Brisbane CBD to the north in Joyner.
Property investing can be very rewarding but if you miss the fundamentals, it could cause a lot of problems.
Property investors can take out landlord insurance to mitigate the practical risks involved in renting out a property
If you’re offering a rent reduction to a tenant suffering hardship from COVID-19, you might be wondering whether you can claim that on your landlord insurance policy.
Ripley Valley is located in South Eastern Queensland’s western corridor, one of the largest employment and industry growth areas in Australia.
The Hunter Valley is one of the fastest growing areas in NSW.
It is important to know the difference between a Property Trader and a Property Investor as there may be CGT and GST implications.
Investing in regional property requires quite a bit of research because these areas often rely on a singular industry to drive population and job growth.
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A person who suffers domestic violence in your investment property has rights under tenancy law, even if they are not named on the tenancy agreement.
Situated in the booming Sunshine Coast and conveniently located near University Sunshine Coast, these newly constructed apartments are titled and tenant ready including blinds, dryer, dishwasher and clothesline.
Real estate can be quite an emotional asset class as opposed to shares and often, investors make decisions which are emotionally driven.
If you think you have the time and skills, to conduct the sales process yourself and believe that you can achieve a good sales price, selling your own property can save you tens of thousands of dollars.
Suitable for self managed super funds or out of super is this completed house and land package. Located in the new master plan of Yarrabilba in the Brisbane and Gold Coast corridor.
A Sunshine Coast landlord will be forced to discount the rent for his long-term tenants after the Queensland Civil and Administrative Tribunal ruled he could not prove reducing the rent would put him at a financial disadvantage
Last week, the McGowan government announced that it had created a free conciliation service to assist renters and landlords reach an agreement about coronavirus-related tenancy disputes without having to go to court.
The only property management software you ever need
Late rental payments, disrupt cash flow and can be a very frustrating experience for landlords.
There are important considerations to be made for property investors pre-tax time, an expert has highlighted.
Property investors who have used negative gearing as a way to lower their tax burden are being found out in a depressed market.
While tax isn’t necessarily on people’s minds at the moment It should be
Located only 22km from the Brisbane CBD by train, Mango Hill and consisting of a complex of 79 properties.
Conveyancing is an important legal step to owning your dream home
Going to a rental or tenancy tribunal to argue your side of a rental debate can be quite nerve-wracking
Rental yield is the income return rate over the costs associated with your investment property
Investing in student accommodation is more of a yield game and not really about huge capital growth
Landlords should consider insurance policies that protect their investment property in the case of home emergencies.
13km from the Melbourne CBD | Off market opportunity. Located a short distance from the Melbourne City center with boutique cafes, restaurants and abundances of local parks and walking and bike tracks all in the local area.
When writing ads for your property, you should include
None of the expenses associated with your home are tax-deductible but if you decide to rent it out, the situation regarding tax, changes.
One of the most important things you need to do before you decide to rent your property to family and friends
If you have purchased an investment property this year, you will need to advise your accountant of the expenses associated with the purchase.
Ready to lease, tenant ready and just north of the Brisbane CBD is this boutique townhouse development. Close to Morton Bay and the retail hub Northlakes, this townhouse development is ideal for your next investment. Great returns of 5.2% and ready to move into, only 3 remaining. 3 Bedrooms | 2 Bathrooms | 1 Car Garage | $374,000
When applying for rental properties, tenants have two options for the lease agreement: Co-Tenancy or Sub-Tenancy.
Well thought out floor plan and offering investors two incomes under the one roof. Consisting of 3 bedrooms, 2 bathrooms and single garage, with additional 2 bedroom, 2 bathroom and single garage on the adjoining side.
Astute CPA’s recognise that helping their clients grow their profits from investments
The best property management software allows you to collect rent, manage maintenance requests, generate vacancy listings with robust accounting and reporting, on a platform that is intuitive and responsive.
Certain buzz words can make your property stand out, speed up a sale and even boost the final price.
Ready to move in properties in one of Sydney's highly desired suburbs. Close to the CBD and surrounded by cafes, bars and restaurants.
A stunning development in the northwest of Sydney, offering investors the opportunity to get into the dependable market of the NSW capital. Townhouse | 3 bedroom | 2.5 bathrooms | 2 car | Prices $699,000+
Property fixtures are objects attached to the land or a building and are considered as an irremovable part of the property.
In Australia, the 2 main tenancy screening services
Insurers are moving to adjust their landlord insurance products to allow holders to claim rental default benefits from their cover without the need for an eviction notice to be served to the tenants.
The ACT has similarly amended its residential tenancy laws to allow its minister to make regulations to alter rental rules during the pandemic.
WA $154m coronavirus relief package to help renters, landlords and the construction industry
Queensland’s protections for renters were some of the strongest in the country
Here at RealRenta, our property strategist partners can help you grow your portfolio with their expert advice and years of experience in the Australian residential property market.
The Victorian government announced a $500 million plan for tenants and landlords across the state on April 15
NSW was one of the first states to act
Legally speaking, landlords must provide locks to secure all external doors and windows of their premises.
For landlords, an audit trail is invaluable.
Free eBook The ultimate guide to Buying and Selling during Covid -19
If your investment property needs repairs, follow the steps under the Tenancies Act in your respective State or Territory.
Tenants have access to their own system in RealRenta
How does the Free Trial Period work?
WA plans to introduce a six-month moratorium on evicting residential tenants among a raft of measures aimed at limiting the financial upheaval caused by coronavirus.
The Qld government launched the Special COVID-19 Protections for Residential Tenants and Owners on April 9
Many insurers have stopped selling landlord insurance.
announced a temporary ban on evictions and rent increases for six months and offered land tax relief for landlords who offered rent reductions
Rent increase ban
There is a culture in lots of different industries of adding sneaky fees to the structure of agreements and property management is no exception.
Strata managers or committees can make alternate arrangements to vote and discuss strata issues if they do not want to attend strata meetings in person.
As a landlord, you have the right to set the weekly rent on your property, and the market will determine if anyone is willing to pay that price
Before renting your residential property to a tenant, you (the landlord) will need to sign an acknowledgement on the residential tenancy agreement.
The NSW State Government is allocating $220 million to residential renters and landlords
The current 6-month moratorium on evictions is putting a lot of pressure on landlords
We speak to dozens of property investors every week and we know that a lot of you are getting nervous about the current conditions
Prices are really starting to slump in some areas and other areas, are experiencing smaller price drops
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The Prime Minister has announced new measures to help renters
Landlords have received welcome news, with the Minister for Housing confirming there is no rental freeze during the moratorium.
Some of the biggest expenses, investors face when they invest in property are the property management fees.
Funding is available for Queensland tenants who have lost their job due to the impacts of COVID-19 and do not have access to any other financial assistance.
Major insurers in Australia have suspended indefinitely the sales of landlord insurance products, citing uncertainties from the coronavirus outbreak.
State governments are offering land tax deferrals for landlords whose incomes have been or will be hit by the COVID-19 shutdown.
As households prepare to bunker down across Australia, attention has turned to the best ways of protecting homes from coronavirus
Landlords are certainly feeling a lot of pressure due to the Corona Virus because many tenants are losing their jobs and are suddenly, unable to pay rent.
Being tough on your tenants that have financial difficulties at the moment would be very short-sighted. Here are some tips from us at RealRenta, on how to navigate this tricky time and support vulnerable tenants:
Landlords are providing rent relief and other incentives to help tenants deal with COVID-19. If your landlord is an SMSF, can they do this?
The National Cabinet is meeting this week and is expected to discuss the impact of COVID19 on tenancies. Further advice will be provided as it becomes available. The current requirements for NSW tenancies are outlined below.
Here are the fundamentals for Western Australian landlords:
Here are the fundamentals:
Here are the fundamentals for Queensland landlords:
Here are the fundamentals for South Australian landlords:
Here are the fundamentals for Tasmanian landlords:
In this uncertain environment, it is important to take defensive measures. STOP paying thousands of dollars to property managers- we don’t know what is going to happen to property prices.
Here are the guidelines for Victorian landlords:
Here are the fundamentals for NSW landlords:
Whilst there can be a substantial difference between the quality and results of a cheap depreciation schedule and a more expensive one, thankfully the difference in cost is minimal, especially when you consider the cost is 100% tax deductible.
Here is a brief overview of landlord obligations in the Australian Capital Territory:
Quality depreciation schedules will include, all constructions costs and assets, including previous renovations (whether completed by yourself or a past owner), as well as claim more aggressively, for low cost and low value assets.
Where can investors get a Rental Property Depreciation Schedule?
A residential tenancy agreement is a legally binding contract between the owner of a property (the “landlord”) and a person or company wishing to occupy the property (the “tenant”) under which the landlord grants to the tenant the right to occupy the property for use as a residence. The right of occupation does not have to be exclusive, which means that the tenant may have the right to share the property with others.
Before you put in an offer perform your own visual inspection of the property
Property depreciation schedules assist investors to claim the maximum tax deductions, for the annual depreciation of their investment property.
Here are the 10 most important things to look out for during your inspection:
All residential tenancies in VIC are covered by standard terms which cannot be altered. It’s advisable to use a written agreement and it’s the Landlords obligation to provide a copy to the tenant.
REIV President Leah Calnan says a recent decision by the Court of Appeal, stating VCAT cannot rule on cases where the landlord resides outside of Victoria will create more questions than answers.
Before lending money to a borrower, lenders want to be sure that the loan will be repaid.
Here is a guide to Land Property Ownership Terms:
All forms and checklists for a tenancy can be uploaded onto the RealRenta platform to form part of the tenancy file.
Title systems vary from State to State in Australia.
A PRIVATE landlord of a Perth property has been fined $10,000 for failing to lodge security bonds twice and not providing tenant with condition reports.
NSW bushfire-affected residents who choose to purchase a replacement home instead of rebuilding will be able to access stamp duty relief.
Some States and Territories have begun relaxing laws preventing tenants from becoming pet owners or taking up a lease with a pet. Here is a breakdown of the current laws:
Some of the most common reasons for changing lenders are:
From 1 January 2022, all Queensland rental properties will have to comply to the new smoke alarm legislation.
A rooming house is a building where one or more rooms are available to rent, and four or more people in total can occupy those rooms.
If you have to pay LMI on your property loan, the premium may be capitalised into your loan amount, provided the total sum borrowed does not exceed the maximum lending margin.
Lenders Mortgage Insurance protects a lender against potential loss in the event of a default on the loan and subsequent mortgagee sale.
Contact us @ propertysales@realrenta.com
Split loans, as the name implies, involve splitting a loan into two or more different types or structures.
Keeping pets is about to become a lot easier for Victorian tenants.
Security is not a prime lending justification but is a risk mitigant as well as supporting the loan facility.
The assessment of the value of an underlying security for a loan is a very important part of the lending process.
The Loan to Value Ratio (LVR) is a ratio to calculate the percentage that the loan amount represents, against the value of any security that is being offered by a borrower.
Many landlords in the Northern Territory have taken their rental properties off the market in response to the recent tenancy law changes.
A full property title search involves going through all the recorded documents, court cases and any other documents on public record relating to the property.
Sometimes referred to as “stress rates” or “plug rates”- qualifying rates are the interest rates used by lenders to determine the ability of a borrower to repay a loan.
A residentially secured Business Loan allows business operators to finance business or investment loans. through equity in their residential properties.
Land Tax is an annual State Tax imposed by each State and Territory off Australia (except the Northern Territory) and is a tax levied on the owners of land.
Reverse Mortgages , also known as “equity release”, are aimed at retired people who own their property but have cash-flow issues.
A mortgage offset account can be a powerful tool for property investors
In Australia, landlords have a number of legal responsibilities to their tenants.
Shared equity agreements make it easier to buy property by allowing an equity partner
Cooling-off periods of 3 business days, apply to private sales of residential sales.
When people own property as Joint Tenants or Tenants In Common
New rental reforms have been introduced into the ACT Legislative Assembly
Many landlords will need to make claims on their landlord insurance, due to this summer’s devastating bushfire season. Here is a quick guide on what to do, to submit a successful insurance claim after a natural disaster:
Once the mortgage on an investment property is paid in full, the property is essentially, generating free money, minus the expenses of running the property.
When it come to water bills, tenants are only liable for water consumption charges, not other associated supply charges ( unless your property is in South Australia, then you can pass the costs on).
Investors who are considering purchasing apartments need to be aware of the planning approval for the building, particularly if it is in a resort complex.
It is very important for property investors to consider careful how their property portfolio is structured and the implications of land tax on their returns.
Recently, a prominent CEO in Australian real estate has said that the re-assessment of bushfire prone areas could see the spread of so called ‘red zones” by the insurance industry. These areas would make it difficult for investors to secure insurance or, they will have to pay a very high premium.
Due to discrimination laws, a landlord cannot deny a tenant because of a disability. Landlords cannot ask about a tenants’ disability during the screening process as this is a violation of discrimination laws.
Landlords can now advertise their investment properties for Free via RealRenta.com.au
January in Canberra, brings thousands of people to the city to start new jobs. From public servants to military personnel and academics, they are then followed by students who have enrolled in the city’s universities.
It is a waste of time to bid or make an offer on a property without pre-approval. When you secure your pre-approval , you know what your limits are and you can be more confident that your offer will be accepted.
Property investors who are looking for capital growth should not look at new housing estates.
According to a new report by Queensland University of Technology, sustainable buildings outperform non-sustainable buildings in every aspect.
Real estate investment is appealing for both its’ stability and consistent returns. The ability to analyse data makes it easier to make informed choices when it comes to choosing the type of investment. The one constant in real estate investing, is the valuation of properties that you are interested in.
Fair Trading NSW can help NSW Landlords with the following tenancy disputes:
In addition to general landlord responsibilities, each State and Territory has their own specific requirements:
It has been more than 10 years since rental laws have been reviewed in Western Australia. The government is reviewing, the Residential Tenancies Act 1987 and want to hear from the public.
Mortgage brokers can be invaluable when it comes to comparing property loans on your behalf and presenting you with different options. Here are some of the more commonly used terms b y mortgage brokers when discussing loans and their different features:
When a property is leased to tenants, a Pool Safety Certificate is required to confirm that your pool fence complies with the Pool Safety Standards.
Let’s be blunt- finding positive-cash-flow properties can be really, really hard. So where are these types of properties hiding? We asked our property strategist partners and these are their tips:
One of the most prohibitive deterrents of investing in real estate is the upfront cost.
Just like any long-term relationship, your partnership with your bank, may be getting a bit stale. Here are 4 signs that you should probably be looking for a new lender:
Some vendors can have unrealistic expectations when it comes to pricing their property. The following questions may help you find out how motivated they are and also, what sort of competition (if any) may be around.
All lenders are legally required to display a comparison rate when advertising any type of loan product.
If you want the tenant to vacate you must give them a termination notice.
Under common law, landlords must ensure their investment properties are safe to live in and landlords have a duty of care to tenants as well as anyone the tenant invites to visit the property.
Property valuation is not an exact science and can be somewhat subjective.
Currently a landlord can pursue a lease-breaking tenant for compensation to cover loss of rent, advertising and letting fee.
Some of the main types of expenses you can claim on your investment property include management costs, maintenance costs, borrowing expenses and depreciation.
Here is a list of questions we have put together that property investors should, ask a mortgage broker when seeking their next property loan:
Consumer Affairs Victoria can issue an infringement notice if they identify breaches of certain sections of the Residential Tenancies Act 1997.
Rental yield is an indicator of how much cash your investment property is generating.
If you are trying to decide whether or not to use excess cash to pay off your loan, here are a few things to consider:
The following excerpt is from ASIC’s Money Smart website:
It is very important for landlords to acquaint themselves with their rights and responsibilities, if their rental property has been affected by a natural disaster, such as fire, flood or storm damage.
Whether you use a tax agent or choose to lodge your tax return yourself, avoiding these common mistakes will save you time and money.
When we sell capital assets, we can either make a capital gain or capital loss, depending on what it cost to maintain the asset
For those of you have properties in the bush fire affected areas, we have compiled the links to the websites that list tenants rights, in the event of a disaster:
Rent and other rental-related income is the full amount of rent and associated payments you receive or become entitled to when you rent out your property
Here is a quick summary of the rental reforms being implemented by some of the State governments in 2020:
All NSW landlords will need to ensure that their investment properties meet minimum standards to be “fit for habitation” by 23 March 2020.
More than 30% of the NSW population rent the property they live in.
Are you thinking about renting out your investment property as a holiday-house? Here are a few upgrades from us at RealRenta, to help make your property stand out from the competition.
There are laws in place to protect potential tenants from discrimination when applying for a rental property.
Property investors rely on rent to cover their overheads. We asked are most experienced landlords, what property investors should note, when setting the rent for their property. Here is what they told us:
The way that rental income and expenses are divided between co-owners varies depending on whether the co-owners are joint tenants, tenants in common or there is a partnership carrying on a business of letting rental properties.
All properties have a maximum value that can be achieved which is based on their location
More and more investors are seeing rooming houses as great ways to increase their rental yield.
Residential Tenancy Act of Tasmania
The QLD Government has released a set of proposals - Have Your Say by 8 Jan 2020
Wishing all of you a happy & prosperous 2020 from the team at RealRenta!
This guide from the ATO explains how to treat rental income and expenses
An older person (or a person with a disability) may require property modifications, often small, so that they are able to continue to live in a rented property.
Wishing all of our landlords and friends a happy holiday season filled with love and prosperity.
If a dispute arises between you and your builder, take the following steps to resolve it.
WA landlords must lodge bond within 2 weeks of receiving it.
The RTA’s free, confidential dispute resolution service helps tenants and landlords resolve disputes without the need for legal action.
The Managing rooming accommodation in Queensland booklet outlines the rights and responsibilities of rooming accommodation manager/owners.
The Managing general tenancies in Queensland booklet contains detailed and useful resources for property managers and owners.
Buying a property is more than what is on the price tag. Here are the hidden costs all investors should be aware of:
When a bond is paid, a landlord or owner must prepare a condition report. The report notes the general condition of the property, room or caravan, including fittings and fixtures
Here is a step-by-step guide from RealRenta to get the best result when your tenant gives you notice to vacate:
An appealing Ad is essential to draw in the right type of tenant to your investment property. Here are some tips from RealRenta to help your Ad stand out from the rest:
Recent changes to the Residential Tenancies Act give tenants in WA the green light to fix furniture to walls.
Location is very important and can be a great indicator of the level of capital growth that your property can achieve over time.
Low documentation loans are flexible solutions for self-employed borrowers who may be contractors or freelancers, who cannot provide pay-slips, financial statements or tax returns as evidence of their income.
Strata insurance is compulsory and protects you and your property. It provides general insurance for the building, common property and contents that are managed by the Owners Corporation. It also pays for the cost of repairing/re-building common property in the event of natural disasters.
These days more than ever, investors need to be on top of their finances when they have investments and are looking to expand their property portfolio.
Lenders consider investment loans to be higher risk than owner occupier loans and can therefore have stricter lending requirements, borrowing limits and higher interest rates. They may also have a higher LVR, which would require a higher deposit from the investor.
Strata property is a building(s), where individuals each own a small portion but where there is also common property, which each owner shares ownership over.
A Trust enables a person or company to own assets on behalf of other people. The Trustee is the person that owns/controls the asset and the beneficiaries are the people for whom the asset is owned.
When it comes to establishing the value of residential investment properties, there are three possible approaches that are used. Lenders will use the approach that fits their underwriting standards:
Here are RealRenta, our property strategist partners can help you grow your portfolio with their expert advice and years of experience in Australian residential property market.
If you’re borrowing to buy a home, you’re putting yourself at risk if you don't specify "subject to finance and valuation" in the contract. Don’t be forced into a purchase or lose your hard-saved deposit because you didn’t understand these conditions.
The Queensland government has recently proposed changes to QLD tenancy laws, including the removal of a landlord’s right not to renew a lease agreement at the end of a tenancy.
Whether it’s your first home or third investment property, one of the most common challenges, is getting through a bank appraisal of the property.
Discover some of the key factors to consider when borrowing to invest. Australians are living longer and experiencing higher house-to-wage ratios. It makes good sense to consider how you can achieve a comfortable long term future.
We have compiled a list of the most useful websites for Australian landlords. Let us know if we have missed any!
Depreciation is a key element of your investment property strategy. While depreciation tax breaks are higher on newer properties, they’re available for all types of investment properties.
Our property advisory service is based on the same principle- we want to help fellow property investors capitalise on our industry knowledge and expertise when seeking to build their portfolios.
Find out why real estate investors should apply for PAYG withholding variation
Survived auction day? Get on top of your must-do’s whether your property sold or passed in.
Quite a few of our landlords are using RealRenta to manage their granny flats. Savvy investors can make some serious money from granny flats. Here are some tips from our successful landlords with granny flats in their portfolios:
The addition of solar energy to your investment property is quite logical- it will make your property a much more attractive option for tenants who want a cheaper power bill.
You need to know about the PAYG installment system, if you are making a profit from renting your property.
RealRenta Tenants have completely free usage of the platform. Once you have your account setup you can apply for properties, get added to leases, setup automatic payments & much more...
Recently, people have been asking us how we make money, when we are saving property investors thousands in management fees.
What can RealRenta property advisory do for you? Here at RealRenta, we don’t just want to "sell” you a property.
You can claim a deduction for the following expenses if they were actually incurred by you and not your tenant.
The primary reason to obtain pre-approval for a mortgage before shopping for a property is to ensure, you are looking at properties that are within the price range that you can afford.
When a tenant reacts inappropriately to a stressful interaction- how do you, as a landlord, handle the situation?
So, your auction's around the corner and understandably, you're a big ball of excitement inside an even bigger ball of stress. Don't worry – it's normal. It's also completely manageable with some mental and money preparation. Here's what to go over in the lead-up to the big day.
The property settlement process can be confusing. Let us help you understand and prepare for settlement day.
The real estate industry in Australia is changing and more competitive than ever. There is no need to put up with inferior service from an agent or property manager under any circumstance.
Last week, I had a discussion with one of our RealRenta Landlords about whether or not she is entitled to certain tax deductions, if she finds out her investment property contains asbestos.
Here at RealRenta, we don’t just want to "sell” you a property. Our founders created RealRenta so that fellow property investors, could leverage off the developments in property technology, to maximise the returns on their investments through automation.
You can claim capital works deductions for construction costs for a rental property that satisfies certain conditions.
Find out why renovating your investment property too quickly isn’t a good idea. When you buy your first investment property, it can be tempting to start renovating straight away. But as Michael Sloan from The Successful Investor explains, you could be throwing money away without realising it.
Now finally for all RealRenta tenants, a free and convenient way to move home.
Pre-approval is an important step for home buyers. Here we explain the process for getting conditional approval for your mortgage.
Pets can impact homes in several ways, especially in terms of its’ cleanliness and smell. If your property has pet hair everywhere, strong pet odour in the house, or pet waste in the yard, it can increase the selling time and reduce your property’s value.
We are experiencing a very interesting market at the moment and lately, our landlords have been asking us, where we think the best deals will soon be. One way of finding properties under market value, is to look for mortgagee sales. After all, the profit is made when you buy right! If the market doesn’t pick up next year, these sorts of sales will be more plentiful. Mortgagee sales are when the owners have defaulted on their mortgage payments to such an extent, that the bank has taken over the property to recover the debt. Here are a few tips to help savvy investors find properties that are under market value:
More and more people seem to be talking about an incoming recession in 2020. Australia has not had a recession since 1990-91 however Australia’s GDP growth was only 1.4 per cent in the 2019 Financial Year.
Banks have been tightening access to credit for investors but there are ways you can boost your borrowing capacity, even in these testy times!
There are several different types of property valuations that include:
If you have been sitting on your real estate for a few years now, it might be the time to discover if your current strategies are actually effective. Here are some quick tips from RealRenta to help you start:
There is a saying that real estate is slow to forgive- investing in bad property deals can take a long time to recover from. It is much better to have no deal at all than a bad deal. Here are some tips from our property strategist partners, to help you avoid some of these more risky investments:
RealRenta Landlords have access to Australia’s largest provider of smoke alarm compliance maintenance services.
RealRenta has a national support team, dedicated to giving our landlords an unrivalled support service for landlords in every part of the country.
Offset Accounts can help property investors save money by reducing the amount of time it takes to pay off your loan and can help insulate you against interest rate rises.
Advertising increases the exposure of your property and more exposure, drives competition for your property. Online advertising dramatically increases this exposure because most renters these days, head straight for the internet when looking for properties to rent.
Your idea of a high yield investment property probably doesn’t include rats and cockroaches, rifling through kitchen cabinets and playing hide and seek in the bathrooms.
Every successful property developer will tell you that the real secret to successful property development, is managing the inherent risks.
The Australian architectural landscape varies from state to state, with some styles being a response to the local landscape. Here is a quick RealRenta guide on the different styles and where they are most likely found:
There are many reasons, why properties are taken off the market and one of the main reasons is that the asking price was way too high from the start.
Real estate agents must never mislead you and should always adhere to fair contract terms in line with federal, state and territory laws.
Contact us @ propertysales@realrenta.com. Need a property loan? Contact propertyloans@realrenta.com
We asked our landlords, to identify some of the biggest mistakes their ex-property managers made. There have been some massive blunders:
In this week's session, we talk to our trusted mortgage broker, Jon Encavey, about the current issues in our property markets and what is yet to come.
How do you know if a particular market is in strong demand? The following tips from RealRenta could be indicators of where demand exceeds supply:
Sometimes, tenants may want to make improvements to your property that suit personal tastes.
Signs of appreciation go a long way in reducing vacancies and building a trusting landlord-tenant relationship.
The first thing you need to do to find out whether or not it is possible to sub-divide your land, is to contact a local Consulting Surveyor
When landlords fail to meet certain responsibilities, this can result in their local Department issuing an infringement notice, or even prosecuting offending landlords before a Court. Here is a list of offences for which an infringement notice may be given under the applicable Residential Tenancies Act (these may vary slightly from State to State etc):
Need a property loan? Contact us @ propertyloans@realrenta.com
In general, pre- auction offers are not advisable, as they show your hand and gives the agent an unfair advantage in the sales process.
Real estate can be quite an emotional asset class as opposed to shares and often, investors make decisions which are emotionally driven. A better strategy is to approach property investment like a property valuer- more facts and less feeling. Property Valuers are not clouded by emotion or vested emotion. Here are some tips from RealRenta to help you stay objective:
Open houses are an increasingly common way for buyers to look at who is their competition and find out more about the property you are interested in. So what is the etiquette for attending an Open House as a buyer? Here are some tips from RealRenta :
Need a property loan? Contact us @ propertyloans@realrenta.com and we will arrange for our highly skilled broker Jon, to contact you for a no obligation chat.
The truth is that there are no standard real estate agent commissions for Australian property sales. The market in Australia is deregulated, which means that agents can set their own fees based on supply and demand.
New legislation impacting tenancy agreements will take effect on the 1st November, allowing greater flexibility for tenants. The following changes are being implemented:
How does the Free Trial Period work? When you sign up, you are automatically enrolled in an up to 2 month free trial that gives you unrestricted access to all the great features RealRenta has to offer. Your trial can be cancelled at any time.
At RealRenta, we make it our business to work with Australia’s premier property developers and, in doing so, are able to help you identify, understand and assess the potential capital growth, rental return and tax benefits of your next investment.
There are many factors to consider before investing in land and you will also have to take into account how the bank will assess your loan application.
Typically, investment-grade properties double in value every 7 to 12 years, which in other terms, equates to 7% to 10% annual compounding growth rate.
The rental bond is a goodwill payment held in trust and is used as a financial protection for the landlord, in the case the tenant breaches their tenancy agreement.
Buying an investment property that turns out to be a lemon, can be a property investor’s worst nightmare. The best way to make money as a property investor is to buy well. How do you mitigate risk and what do you look out for?
As in investor, purchasing the right property is only part of the process. You also need to make sure that you find the right tenants and that the property is not left empty for long periods of time.
RealRenta Sales Director interviews Jamie Doman, our RealRenta propeety strategist partner.
We all have different goals and dreams and the benefits of refinancing your home loan, can definitely expedite their realisation. Getting a better interest rate to reduce the size of your mortgage will also reduce your monthly repayments.
Here at RealRenta, we don’t just want to “sell” you a property. Our founders created RealRenta so that fellow property investors, could leverage off the developments in property technology, to maximise the returns on their investments through automation. Our property advisory service is based on the same principle- we want to help fellow property investors capitalise on our industry knowledge and expertise when seeking to build their portfolios.
For landlords, illegal sub-letting is always a concern. Sometimes no matter how well you scrutinized your tenants, there is always a possibility that they will rent out one room or even your entire property to a stranger.
At RealRenta we make it our business to work with Australia’s premier property developers and, in doing so, are able to help you identify, understand and assess the potential capital growth, rental return and tax benefits of your next investment. We’re focused on getting you priority access to developments in Australia’s fastest-growing suburbs.
Property values are heavily influenced by location based on regional, state, city and specific neighbourhood. Job growth, population and demographics are just some of the key ingredients to the equation.
The job of a conveyancer is to provide advice and information about the sale of a property, prepare the documentation and conduct the settlement process, which typically goes through these 6 steps:
Astute CPA’s recognise that helping their clients grow their profits from investments, will distinguish them from their competitors.
There are a number of ways that children can injure themselves and even die in their own home. Providing a rental property that is relatively free from hazards to children, can increase your pool of prospective tenants, as it attracts families with young children.
Banks consider heritage listed properties to be a higher risk than normal properties, as they do not appeal to the general market.
Legal conveyancing terms may seem a little overwhelming so here is a quick overview of the most commonly used terms :
At RealRenta, we make it our business to work with Australia’s premier property developers and, in doing so, are able to help you identify, understand and assess the potential capital growth, rental return and tax benefits of your next investment. We’re focused on getting you priority access to developments in Australia’s fastest-growing suburbs.
When looking for a new investment property, location is going to have a direct influence on the rental yield that you can command. Here at RealRenta we have compiled a checklist for you to help you choose the optimum location for your next investment:
Once you have made a decision about what type of Agent services you will use to sell your property, an Agreement will need to be signed by both parties. The type of sale and number of agents involved in the process, will determine the type of agreement that will be entered into. Here is a State by State guide from RealRenta:
If you are uncertain of where to start in your quest to find a reputable home builder, ask the following 8 questions to determine if this builder is right for you.
Keeping accurate records is essential for any landlord. RealRenta records and details all information to provide you with a complete historical record within a comprehensive, easy to follow, dedicated file for each investment property you have.
Landlord insurance is a must for any property investor. Landlord insurance is tax deductible and can cover landlords for all sort of events that can cause financial loss. Here are the most important reasons why you need to have landlord insurance:
Here is an interview with Melbourne property investor and #RealRenta #Landlord Sanjay Bajaj.
Generally speaking, a good long term strategy for investing in property, is balance.
Under-quoting is now illegal and not to mention unethical but we all know it is still going on.
If an investment property is transferred to you in a will that was bought after the 19 September 1985, you will inherit the cost base and there are no tax consequences other than Capital Gains Tax when you sell it.
The Queensland Residential Tenancies Authority (RTA) has made the following changes to their services:
No matter how fabulous a property make look or how excellent the price may be, it can all come undone by just one essential detail- the neighbours.
There are various reasons why property settlement could be delayed, either by the buyer or vendor. Here are the 3 most common reasons:
Equity is a powerful wealth creation tool. Equity is the proportion of your home that you own, less the mortgage.
Private investors are attracted to real estate investments because of potential high returns.
Lenders Mortgage Insurance (LMI) protects banks and other lenders in the event of mortgage default and shortfall.
Here are some of the most common scams landlords need to be aware of. Always use RealRenta's Bad Tenant Check facility before approving a lease application.
It can be rough to secure a home loan so we asked some of our mortgage broker friends what are some of the secrets to endearing yourself to them.
Knowing the right lighting to have in your investment property, can help maximise the returns on your property and will impact on your ability to increase rent and the property value. In Australia, new hardwired light fittings are tax deductible under capital works’ deductions.
Pests and mould can really be a problematic issue for landlords. Here is a quick guide:
Land division is how developers create new allotments and increase the value of their land, by utilising the development potential of their land holding.
Landlords have obligations in regards to fire alarms, gas safety and electrical safety of their rental properties. Whilst electrical work is a highly specialised field, here are 5 tips from RealRenta to ensure you have a good basis for getting started.
What do you do if you find that you may need to sell a property for less than the remaining amount on the mortgage?
Many landlords and property managers have a “ no pets” policy because they probably think that it is easier to manage or that there will be less damage. Recent research suggests that the benefits of allowing pets may significantly outweigh any negatives. Here are 10 Reasons from RealRenta to consider:
Restoration work is not for the faint hearted. Although this type of project can be immensely rewarding, it can be very daunting and very expensive. Here are some tips from RealRenta to get you started if you are considering or are committed to restoring a Heritage Property.
Before you make an offer on your next property, here are a few things to consider, that should give you the upper hand in negotiations:
A well written comprehensive property condition report is important and acts as a form of protection for you as a landlord. Many landlords leave things to the last minute, or worse, don’t even do them at all.
Listing your property as a holiday rental can be a great way to increase your rental yield, as it may be possible, to charge the regular monthly rent for a one week holiday stay, depending on your location. Leasing your property for say 12 weeks a year as a holiday rental, would generate the same return on investment, as a permanent tenant and additional weeks, will simply increase your return. Here are some tips from RealRenta if you decide to rent your property as a holiday rental:
Some of these may be obvious but you would be surprised, how many people overlook these things, when trying to sell their property:
Taking the extra time to upgrade the energy efficiency of your Investment Property, will create a path for you to make more money. You will make your tenants feel important and they will value your property more as well. Energy efficient properties can generally yield a higher rental return and a higher resale value. Here are some important energy efficiency tips from RealRenta to keep in mind:
While each real estate agency has their own practices, typically, a sellers’ minimum sale price expectation, should be disclosed in writing, before a marketing campaign commences.
Most real estate agents in Australia act with integrity and in good faith, however, there are a few agents who will use questionable tactics, to attract interest in a property and create a larger pool of prospective buyers.
Getting a development application over the line can be one of the most challenging aspects of the development process.
The best ways to learn about developing property are to read about it, enrol in some course and speak to established and successful property developers.
When you purchase your investment property, it’s important to do a thorough inspection for termites and pests as well as an inspection for structural integrity.
Why get just one rent when you can get two lots of rent from the same property? Or live in one and rent the other out to turn your own home into an investment property, turning bad debt into good debt.
Home renovations are expensive but having the wrong insurance coverage can make the process even more so. Here are some RealRenta do’s & don’ts to help keep you protected during a renovation project.
You should have a clause in your lease regarding noise violations and quiet hours for a multi tenanted residential property. Noisy neighbours can be a tricky issue to deal with because the source may be beyond your control and the decibel of the noise, may only happen at certain times of the day, like late at night, which makes it very hard for you to monitor. Here are some RealRenta tips for dealing with tenant complaints about noisy neighbours:
Unfortunately cannabis farms and drug labs are a growing problem for Australian landlords. The boom in domestic production is a concern for private landlords and property managers all over the country. Landlords can face serious repercussions if a tenant is using the property to cultivate drugs.
Brand new homes deliver benefits from depreciation to capital growth potential but older homes have the capital growth history to back them up. So which is the better investment? Here are some Pros and Cons from RealRenta to help you make your own mind up:
Currently, landlords are not required by law to change locks between tenants. This means that there may well be copies of keys available that could give people easy and unauthorised access to your property, without any way of tracing them. Here is a RealRenta checklist for all the different rules regarding locks and keys, from State to State/Territory:
There are so many different loans out there in the market and it can be really hard to determine which, is the best home loan, for you amongst all the marketing noise. Here is your RealRenta checklist to help you decide:
Depreciation enables you to claim tax deductions for wear and tear over time, on your investment property.
RealRenta sales director Marlene Liontis interviewing Jonathan Encavey from Bee Money about the process of trying to refinance
The ATO has issued several warnings recently to investors about claiming deductions on rental properties. Common errors highlighted by the ATO include claiming deductions for
When acquiring a tenanted property, it is crucial to ensure all relevant contracts are reviewed, prior to you purchasing unconditionally. What are the Pros and Cons to buying a property with existing tenants?
We asked some of our landlords for their tips and these are what they gave us:
Landlords often have an aversion to letting their property to students. They probably envisage wild parties, recklessness and so on. Student accommodation however, has changed, as every tenancy application is much more heavily scrutinised. The international student market is growing exponentially and there are demands for higher standards of accommodation.
Property Management companies benefit from quick tenant turnover, as each new tenant means additional fees for them. Property Management companies, rarely work in the interest of the tenants, nor in the landlords’ best interest.
RealRenta sales director Marlene Liontis interviewing Jonathan Encavey from Bee Money
When it comes to financing a renovation, there are many options depending on the type and cost of renovations you wish to undertake
As a landlord, you need to respect and protect any personal data about your tenants.
Location is critical to the long term performance of your investments. The key is to look for suburbs, that have always outperformed the averages, or suburbs that are going through gentrification.
If rent is $350 a week or less in Victoria for instance, the bond cannot be more than the equivalent of one month’s rent. Landlords/agents can charge more if: • The lease agreement states that the property is the landlord’s principal residence and intends to resume living there at the end of the tenancy • The rent is more than $350 a week • The landlord/agent obtains an order from the relevant body that sets out the amount of the bond.
Tenants who need assistance animals, such as guide dogs, cannot be discriminated against if applying for your property, or if they acquire the assistance animal during the lease. An assistance animal is defined under the Equal Opportunity Act 2010 as an animal trained to perform functions and tasks that assist a person with a disability, to alleviate the affects of the disability on their lives.
Always make sure that the Bond has been paid in full before giving the keys to your new tenants. Laws and procedures relating to Bonds differ from State to State. If you have Investments in more than one state, it is a good idea to educate yourself about the differences. Also, not lodging Bonds on time or correctly, can result in a fine being issued. Here is all you need to know:
The difference between a Construction Loan and normal Home Loan is that you don’t receive all of the funds at the outset, like you would at settlement for an established property.
Dual Occupancy Property Investments are an excellent way to achieve positive cash flow. Properties with dual occupancy and granny flats attached can attract higher rental yields than what the suburb they are in, can actually deliver to investors in normal circumstances.
A tenant who breaks their lease without a legal reason, is essentially abandoning their tenancy. The legal reasons for terminating a lease, can vary slightly across each state and territory and generally, tenants need to access a tribunal for an order.
Property Investors can now use RealRenta’s new FREE version- RealRenta Essential.
The job of a Valuer is to assess what price the bank could reasonably achieve for a property if the borrower can’t service the loans and it needs to take possession.
Many smart investors are taking advantage of their additional space, by renting out rooms in their properties, to generate extra rental income.
The most important thing that you can do for your investment property is to find dependable tenants. So you have to screen applicants ruthlessly. It may be tempting to accept the first applicants for your property, especially if it has been vacant for a while however it pays to make the extra effort to screen your applicants, to avoid potential problems later. Here are some screening tactics from RealRenta to help you ensure that you acquire the best possible tenants for your investment property:
There are many reasons a lease may need to be terminated before its specified date.
Shrug off the winter blues with a massive interest rate drop across the board.
As a landlord, you are entitled to have your property returned to you undamaged and clean, at the end of a tenancy.
All you need is a smart phone with a good camera and at least 70% battery before you start filming. Once you have finished filming, you can upload the video to the RealRenta platform. Here are our tips for filming:
In the case of an issue with your tenant not being resolved, there are numerous support services around the country, which assist with residential tenancy complaints and disputes.
No one wants to end up in court.’ By implementing excellent management practices, you can eliminate the majority of reasons that a tenant might use to sue you. Here are 10 of the best practices from RealRenta, to help you prevent and avoid legal disputes with tenants:
Going to a rental or tenancy tribunal to argue your side of a rental debate can be quite nerve wracking. Some landlord and tenant disputes simply cannot be resolved without taking it to an authority.
Some of the biggest expenses, investors face when they invest in property are the property management fees. Well not for RealRenta Landlords!
Late rental payments disrupt cash flow and can be a very frustrating experience for landlords.
There is a culture in lots of different types of industries of adding sneaky fees to the structure of agreements and property management is no exception.
Some quick tips from some of our most successful landlords!
Fees for late rent payments can be charged as flat fees or between 5 and 10% of the tenants’ monthly rental rate.
RealRenta Landlords get the income from their investment property paid into their bank account within 4 business days of their tenant making the payment.
We are presently witnessing, a very interesting real estate market here in Australia. We have witnessed first-hand, a change in the sentiments of the property investors that we directly deal with.
It’s important to get the ownership structure right when purchasing an investment property as it can be costly to alter deeds later on.
Getting a Bad Tenant can really affect your rental yield as well as your peace of mind. Here are some Red Flags from RealRenta to watch out for when you do your next screening:
If you still have tenants living in your property when you are ready to sell, there are certain procedures you will need to follow.
To be a successful property investor, you need to always present a professional veneer when dealing with your investments. Having an inept or lackluster property manager, can be very detrimental, to the value of your portfolio. Here are 5 fundamental signs that you have a BAD property manager:
The expenses for your investment property need to be paid, whether your tenant has paid their rent or not.
An occupied investment property is making you money. Here are the 5 quickest tips from RealRenta to ensure your property is filled with the right tenant- FAST!
Property Investing, just like any business, benefits from a strategic digital marketing campaign. Creating a digital marketing campaign for your investment property is easier than you think.
Want more helpful information from RealRenta? Visit our blog page here: http://info.realrenta.com.au/blog
When you buy into a body corporate, you are buying into a complex with other owners which means, you share ownership of the common areas like pools and gardens.
When it comes to building and renovations in general, do not lock yourself into any contracts until you know exactly what you want and have compared at least 3 quotes for the same plans/specifications.
More and more homeowners and investors are using social media sites to attract buyers to their property.
Sometimes in life we are faced with decisions that involve relocating, for either professional or personal reasons.
A landlord has the right to choose a tenant they consider the most suitable for their property but equal opportunity legislation, in each state, makes it unlawful to discriminate against or harass people.
We asked some quantity surveyors we know, what they consider the most effective strategies investors can use, to use depreciation to minimise tax on renovations to their investment property.
Landlords can’t increase rent on fixed-term tenancy agreements, unless it has been written into the agreement. Once the agreement has finished however, you can choose to move the tenant onto a periodic or rolling lease and on these types of agreements, rent can be increased with more frequency.
A tenant can claim compensation from a landlord if they can prove that they have suffered: •Damage to goods •Loss of goods •Loss of money •Substantial inconvenience as a result of a landlords/agent's actions or failure to act. ...
When landlords fail to meet certain responsibilities, this can result in their local Department issuing an infringement notice, or even prosecuting offending landlords before a court.
Here are some questions that you will want to ask local agents and valuers, when doing your research on a location you are interested in:
Good photos are critical when marketing your property for rent. If you get it wrong- you may find that it takes longer to find the right tenants.
RealRenta Landlords have the advantage of date and time-stamped communication with tenants. RealRenta landlords and tenants can upload photos, documents, videos and forms onto the platform, to form part of the tenancy file.
The age of appliances and fixtures can affect the running costs in a property.
According to a report by the Real Estate Institute of New South Wales (REINSW), The Landlord and Tenant (Amendment) Act 1948 (NSW) (LTA Act) will be repealed on July 1
Median weekly rents data is based on an analysis of new rental bonds lodged each quarter. Data is updated for the March, June, September and December quarters.
Section 65A of the amended act, means that Victorian landlords, will have to ensure the compliance of rental properties with minimum standards in respect of security, amenities and privacy.
Rent hikes for Victorians will be capped to once a year under changes in effect from Wednesday, in a bid to make renting fairer.
Setting the right rental price is crucial to making sure you get the right types of tenants who will look after your property and make sure that your investment meets expenses and earns you money.
The ATO believes errors in rental property claims is the second biggest component in the $8.7 billion tax gap (after work-related expenses) and indeed they recently announced that in a series of audits, the ATO found errors in 90% of returns reviewed. So, this year, expect them to focus on the following:
Do you know the differences ?
Landlords have obligations in regards to fire alarms, gas safety and the electrical safety in their investment properties. Whilst electrical work is highly specialised, here are some tips from RealRenta to get you started:
Rental yield is the income return rate, over the costs associated, with your investment property. It’s frequently used as a metric in property data and expressed as a percentage.
One of the most important things you need to do before you decide to rent your property to family and friends, is to establish very clear guidelines about how the tenancy relationship is going to be conducted.
Brand new properties deliver benefits from depreciation to capital growth potential but older properties have the capital growth history to back them up. So which is the better investment? Here are some pros and cons from RealRenta to help you make up your mind:
Private landlords are not legally required to lodge tenant information on the National Tenancy Database but can use their discretion, to alert other landlords and property managers to rent defaulters.
Going to a rental or tenancy tribunal to argue your side of a rental debate can be quite nerve wracking.
When you buy an investment property, you become a property manager whether you like it or not.
RealRenta costs less than a QUARTER of what property managers charge- YET…it does everything that they do!
This market still has a long way to go, in order to recover properly from the recent slump in prices.
Noosa property owners could find themselves banned from renting out their holiday homes and the value of their investment significantly impacted if a local council plan is implemented, according to a local agent.
The Australian Real Estate Institute has recently published two fact sheets to help foreign owners and investors of Australian residential real estate, meet their foreign investment obligations in Australia.
Parliament has passed the Sale of Land Amendment Bill 2019 (Vic) which brings into effect retrospective legislation relating to sunset dates (also known as latest dates for registration) in the off-the-plan contracts of sale.
Landlords’ responsibilities
Victoria's unexpected change to stamp duty rules will hit a range of players beyond development, including real estate managers who set rents and fund managers who receive remuneration based on the value of an asset they have sold, industry players warn.
On 12 April 2019 Solar Victoria announced that the program for solar PV was fully subscribed for 2018-19, with the program re-opening on 1 July 2019.
Over 2.2 million Aussies claimed more than $47 billion in deductions in the 2017-2018 financial year, led by work-related expenses and rental claims— and ATO announced about two months ago that it would double the number of audits scrutinising rental deductions.
A good school zone can boost property values by up to 20 per cent, according to some valuers.
No one invests in property to lose money or not make much at all. Why would anyone hand over their rental income to expensive middlemen that don’t really do much at all.
All private renters should be allowed to keep pets, South Australian housing support group Shelter SA says.
The Victorian State Government plans to collect 10 per cent more or $709 million with its higher fire levies on every Victorian’s property in 2019-20.
How does Centrelink treat investment properties that have risen in value?
A person may enter into a written Residential Tenancy Agreement in order to rent in Victoria. The agreement may be oral or in writing, although it is strongly recommended that tenants enter into a written agreement which will provide a clear record of rights and obligations as a tenant. A Residential Tenancy Agreement is a contract that will state the terms of the rental, such as the duration and rent payable.
The biggest hit will be on foreign buyers with an increase in duties and a rise in the absentee owner land tax surcharge. Measures are designed to offset a $5.2 billion shortfall in stamp duty forecast over the next four years because of a softening property market, he said on Saturday.
Solar energy is cheap! For Australian landlords, where sunlight is abundant, the cost of installation can be offset by attracting higher rental yields. Many tenants will pay more rent to take advantage of the financial and ethical benefits of solar energy.
More than 450,000 rental properties in Queensland are affected by new smoke alarm laws, which could see landlords paying up to $2000 for new smoke alarms – or risk being unable to tenant their dwellings.
Exposure to mould can cause throat, eye and nose irritations, respiratory complaints or allergic reactions in some people. The most vulnerable people to mould related illnesses are infants, young children, the elderly, immuno-depressed individuals and those suffering from asthma.
On 1 February 2019 the New South Wales and Civil and Administrative Tribunal (Tribunal) held in Charlie Bridge Street Pty Ltd v Petrazzuolo [2019] NSWCATCD 1 that a landlord validly terminated a lease by re-entering the premises when the tenant failed to pay rent, even though the landlord did not give notice to the tenant of its intention to terminate the lease.
One of our founders is a highly experienced builder. Here are Pete’s tips for building on a small block:
If you are an owner of a lot or multiple lots in a strata scheme or are intending on buying up multiple lots in a strata scheme, even if you do not hold over 75% of the lots and unit entitlements in the scheme, you can still form a "bloc" in the scheme to gain some control over how a vote will be cast, on motions relating to any potential collective sale of the whole strata scheme.
A long-term lease is five years or more. Many tenants would prefer to live in their rental for much longer than a typical 12-month lease, so a longer term lease can offer stability for both renters and landlords.
The rental sector is officially a landlord’s market after the vacancy rate this year fell below 3 per cent for the first time in six years.
Negative gearing has been a hot topic in the election campaign. Travel deductions had been “probably the biggest lurk” among the expenses claimed by landlords, says Grattan Institute fellow Brendan Coates.
Some inner city properties can deliver very strong returns. We asked some of our landlords what they look for when they are buying properties in the CBD:
Some of our landlords have serviced apartments in their portfolios. We asked them what questions they consider important to ask before investing in serviced apartments:
Here are our top tips:
The reality is, a property’s physical structure will depreciate over time, while the land beneath will appreciate in value. Land appreciates because of limited supply.
There are pros and cons for both a fixed term and a periodic agreement. There are often reasons a landlord may wish to end the tenancy.
The best types of carpets for your investment property We asked some of our landlords what types of flooring options they consider for their rental properties. High on the list, were carpets that were affordable, durable and attractive.
A new crackdown on property lending has emerged in the wake of the Banking Royal Commission, with borrowers now being asked for deposits of up to 30 per cent and banks throwing greater scrutiny on location and living expenses when assessing loans.
The Greens are proposing to re-regulate the SA energy sector in a bid to reduce electricity bills.
In the case of McFarland v Gertos [2018] NSWSC 1629, Bill Gertos had occupied the vacant 6 Malleny Street, Ashbury since 1998 and then applied in 2017 to be registered as its owner pursuant to the legal doctrine of adverse possession.
In November 2017 the NSW Office of the Registrar General released a discussion paper which identified a set of reform proposals designed to strengthen protections for consumers purchasing off-the-plan properties.
Note- The following information is for general information purposes only. Speak to your accountant before doing this.
In New South Wales, properties such as apartment buildings, unit blocks or townhouses are managed in a strata scheme. The day-to-day management duties of a strata scheme vary from scheme to scheme, and are generally managed by the following bodies.
According to Rent.com.au, over 30% of renters are pet owners. Allowing tenants with pets will ensure that you appeal to a broader market.
“HIA has always said that changes to negative gearing and capital gains tax for housing are bad policy,” said Graham Wolfe, HIA managing director.
Perth remains the most affordable capital city in the nation to rent a house or a unit, a new report shows.
We asked some of our landlords what they do when they want to spruce up their properties in between leases. They have given us five quick and easy fixes for under $1,000 that can make significant improvements to your property and help to attract more quality tenants.
With sky-high prices locking young people out of the property market, more Australians are pooling their resources and buying property with friends.
Airbnb (and others!) are here to stay. During the second half of 2018, both Victoria and NSW passed legislation legitimising the spread of short-stay accommodation arrangements, such as Airbnb, to previously residential-only homes.
If you have received a notice that you are being taken to court for the debt you owe (such as a summons, statement of claim or liquidated claim), you must act quickly.
Boarding houses provide accommodation for a fee. Usually a resident only has a right to occupy a room and share other facilities such as a kitchen and bathroom, they do not have the same rights as tenants.
RealRenta Bad Tenant Checks will alert you if an applicant has been previously blacklisted by a former landlord or property manager.
From 15 August 2018, the use of aluminium composite panels (ACPs) with a core comprised of more than 30% polyethylene in any external cladding, external wall, external installation, façade or rendered finish in certain buildings, has effectively been banned.
RealRenta is pleased to be able to provide our subscribers with access to finance for large scale construction projects and developments. Our partner is on hand to make an immediate approval- no lengthy waiting times for credit meetings and they lend against valuations- not purchase price and are able to fund in any postcode in Australia.
No-grounds evictions – where tenants can be evicted without reason, are legal in every state and territory across Australia. Here are the current notice periods:
Join us on Facebook and become part of the RealRenta Landlord community and more specifically, the exclusive group ‘Self-Managing Property Australia”.
Be wary of developers when buying property off-the-plan.
If the ALP win the election next month, negative gearing and other taxes will undergo major changes. Property experts believe that these new tax policies will have a significant impact to the Australian property market. Here are the major policy changes that Labor will implement:
Where a written lease is used, the landlord must give the tenant(s) an unsigned copy of the lease before asking them to sign. Tenants should always read the lease thoroughly before signing and ask questions if they don’t understand any part of it.
In November 2017, the government introduced new rules around tax deductions for travel expenses associated with residential property investments, and restriction of deductions for depreciation of items in residential rental properties, with a retrospective application from 1 July 2017.
There are specific circumstances for landlords, where you can lodge a claim against a tenant’s bond.
Apartment owners in Australia's first-ever combustible cladding class action say Alucobond supplier Halifax Vogel Group and manufacturer 3A Composites should replace the combustible panels on their Dolls Point building and pay compensation for costs such as higher insurance premiums.
It’s important for all self-managed landlords to be on top of all the latest tenancy laws. We have compiled the latest Acts from each state and territory:
If you need to claim from the bond and you cannot get the tenants to sign a Bond Claim form, you need to make an application to the Victorian Civil and Administrative Tribunal (VCAT).
Landlord Insurance usually provides coverage in these in instances but as always, check the specific details of your policy.
Granny flats can be an excellent income earner, however the rules around legally renting out a granny flat, differ from state to state.
The ATO is ramping up audits of taxpayers with rental deductions after finding nine in 10 claims contained errors.
Landlords and renters may soon be able to claim the government's solar rebate scheme, in a move which central Victorian real estate agents say could work, depending on the variables.
In the first Financial Stability Review for 2019, the RBA has taken an in depth look at the recent property market downturn and how the trend is continuing to spur the issue of negative equity.
If a tenant has a disability, they can make reasonable alterations to the property to meet their special needs if:
According to PRDnationwide, Maitland, Dubbo, Port Macquarie and Yass Valley, are the top regional hot spots in NSW for 2019
New laws that help tenants affected by family and domestic violence will be in the spotlight at two public information sessions in the South West next week, when the legislation comes into effect.
A recent study by eChoice, has uncovered Australia’s most affordable areas, based on the median value of a house or unit in each capital city and major regional markets
The ACT Greens are calling on the Government to enforce legislation requiring rental property advertisements to list Energy Efficiency Ratings (EERs) – saying renters need this information before they sign onto a lease and “discover that the property is freezing in winter or boiling in summer”.
The major issue for investors that have brought brand-new apartments is to work out whether or not the market is going to bounce back
Note: This is a checklist, not advice. Expense claims are subject to limitations based on their character, timing, extent of attribution to rental activities and sufficient substantiation. *Some expense claims may typically be required to be spread over more than one tax year.
Tax refunds are now trickier to get after a big change has meant landlords could miss out on thousands of dollars through one small mistake.
The checklist below is a tax deduction guide for property investors for expense claims against the income (or potential income) from the renting of property. This guide provides an outline of what can be claimed on tax for an investment property which is earning income.
The Landlord can terminate the tenancy agreement under certain circumstances, including serious breaches by the tenant, or the expiry of the fixed term.
During the course of a lease, situations may occur that affect a tenants ability to live in your property for the entire duration of the lease.
Real estate and property can be very complicated worlds.
Recently, the ATO issued a list of four questions holiday-homeowners should be asking themselves.
Property owners can expect their tax returns to be closely scrutinised this year, as the ATO is launching a crackdown on dodgy claims.
A Western Australian landlord has been convicted for failing to lodge $3,200 in bond money.
One of the most common mistakes property investors make is not seeking professional advice when it comes to depreciation- and this means that many depreciable items are simply missed.
Changes proposed to the ACT Residential Tenancies Act removes the landlords' right to say "no" to animals living in their rental property. The obligation is on the landlord to apply to ACAT and justify why animals should not be permitted, at their expense. Specifically: 71AE Process for tenant seeking consent – animals.
Evictions can be very tricky, legally speaking, so landlords have to make sure that they have a very sound basis for proceeding with an eviction. Don’t forget to use RealRenta for every communication with your tenant, to ensure that each interaction is date and time stamped. Here is the process for each state/territory simplified:
RealRenta does everything property managers can do- BUT is less than a quarter of what they charge.
Rental Bonds Online helps tenants, agents and self-managing landlords lodge and refund bond money easily and securely.
RealRenta Landlords are a pretty savvy bunch of people. We would like to take the opportunity to thank each and every one of you for being part of our exclusive group of investors.
RealRenta automatically manages the tenancy in your investment property and for less than a quarter of what property managers charge! No wonder our landlords are so relaxed! Here are some more reasons:
A Labor government would scrap negative gearing concessions for new investors on January 1 next year, earlier than many analysts and commentators predicted.
Income demographics are important for property investors to know. Eight out of the top ten highest-earning postcodes were in Sydney and the other two were in Melbourne. Here are the latest stats from the ATO’s 2016-17 taxation statistics:
According to new findings from SQM Research there will be a range of implications, from an increase in yields to falling prices, rising rents and increased risks for developers.
Spending thousands of your investment income on property managers in a falling market is crazy and completely unnecessary
RENTS are on the rise after years of flat growth in Brisbane, with new figures showing some suburbs have seen increases of more than $100 a week.
For landlords, illegal subletting is always a possibility no matter how well you may screen your tenants.
THE $300,000 BRISBANE SUBURBS ON THE VERGE OF EXTINCTION IN 2019: Change in median price Mar 2019 to Nov 2018
A tender is essentially a silent auction. It can help you make a quick sale by a certain deadline, without having to drop your price.
Suburbs comprising of larger average land sizes are currently achieving stronger value changes and milder declines, according to new research from CoreLogic.
We want our landlords to conduct successful rental inspections, so we have compiled a comprehensive checklist:
Progress payments – for registered builders. At different stages of construction, you or your builder will require payment.
“The report which models The Opposition’s proposal to change negative gearing on property and Capital Gains Tax is a valuable contribution to the public debate,” REIA President Adrian Kelly said.
Get all the benefits of RealRenta’s ledger by using RealRenta Essential- a completely FREE version of RealRenta
Changes to Queensland's Building Regulation 2006 dealing with combustible cladding came into effect on 1 October 2018.
Advise tenants to upload photos of any mould onto the RealRenta platform as soon as soon as they notice a problem and keep a record of any conversations you have over the phone.
Here are at RealRenta, we want to help protect our landlords by making sure that they are letting their property to the right people
WA’s tenancy and residential parks laws are changing to support renters who're experiencing family and domestic violence (FDV).
The Australian tax commissioner Chris Jordan said in a speech in Hobart that more than 2.1 million taxpayers are claiming $47.4 billion in deductions against $44.1 billion in reported income.
During construction, your lender will require an inspection and valuation of work completed. This is for the lenders own internal purposes and helps them to confirm if further funds can be provided.
Before you buy an investment property with a pool, it is important to check the requirements of your state government to ensure the property you are purchasing, is compliant with regulations.
When you’re properly prepared, the approval process for a construction loan can be quick and easy. Here’s a snapshot of the process and things you need to do:
The table below gives you a general guide to what’s involved with each stage of construction.
Up to 1000 landlords and their tenants have the chance to team up and cut power bills and emissions under a trial scheme in Bundaberg, Townsville and Gladstone.
You know what construction loans are and how they can help you navigate cashflow challenges of big projects; it's time to understand progressive drawdown.
We have compiled another list of Free resources for property investors, that will help traverse the increasingly challenging Australian property investment landscape.
The basis of a good renovation budget is setting a realistic one in the first place. Once you do that, you may need a little help sticking to it. Here are a few pointers to help you on your way. A realistic goal, budget or project needs to be SMART.
If you have a variable rate home loan, it’s likely you’ll have the option of 100% offset. Let’s look into how this works and what the advantages are – for you and your mortgage.
Mistakes investors need to avoid in a property market downturn We asked some of our landlords what they consider to be the most costly mistakes that investors can make in a cooling market. Here is what they told us:
The Institute’s senior counsel, Professor Robert Deutsch, has announced that he had confirmed with Labor that the proposed reforms will apply to all forms of investment.
New research has revealed the locations across Australia where property prices will not even be able to keep up with inflation over the next three years.
You've received an 'exclusive' invitation to attend a 'premier wealth event'. There will be motivational speakers. Their financial secrets have the power to turn you into a millionaire within a few years.
Investing in overseas property is more risky than investing in property in Australia. It is much more difficult to make sure the investment suits your needs if you don't have local knowledge and you can't regularly inspect the property.
Here are RealRenta, our strategy is to help property investors save money. We asked some of our most experienced RealRenta Landlords to share some other strategies that they have used to grow and maintain their portfolios.
The process for bond and returning the bond at the end of the tenancy is different for each state and territory.
At the end of a tenancy or residency, discuss with the tenant or resident how the bond money is to be divided. This discussion may include resolving issues that arise from the tenancy, such as any damage to the property or rent owing
Landlords in NSW will no longer be able to evict tenants from their properties without providing a reason and must wait a year before raising the rent, if Labor wins the March election.
Here are the latest stats on Melbourne’s million dollar suburbs:
Home values fell again last week in all but two capital cities, according to the latest CoreLogic Property Market Indicator data.
In Sydney, the average discount on initial prices is 8.2 per cent, or $87,134, for houses and 8 per cent, or $56,160, for apartments.
School zones are extremely important considerations for investors and families when buying property.
The playing field and bidders Leverage your home ground advantage! Chat to your real estate agent about the best location to host your auction. Front yard, back garden, inside or off-site – you have plenty of options, but choosing somewhere that shows your house in its best light is always a winning choice. You’re also going to want bidders to be as comfortable as possible. So if the weather forecast isn’t great, think about taking things indoors.
There are some exceptional builders out there but there are also some bad apples. Here are some tips from our friends in construction:
A Feature #Property ad on realestate.com.au will always appear above the Standard ads on every search results page, making it easier for property hunters to see your listing.
The surburbs that experienced the highest negative growth for houses and units, according to Suburbanite data, are:
When negotiating with the seller, you’ll have the opportunity to make the offer subject to various conditions. So what are the common conditions you need to be aware of before making an offer on a house or property?
WA Departments of Consumer Protection and Communities are going to target landlords who fail to lodge tenancy bonds through the WA Bond Assistance Loan Scheme.
Most Residential Tenancies Acts do not provide exact guidance on garden maintenance, unless the residential tenancy agreement says otherwise, the tenant is generally responsible for general garden maintenance – which is generally defined as mowing, watering, weeding, pruning and trimming
The current credit crunch means that investors might need to learn new tricks to help make the money they have go further.
Our most experienced landlords tell us that investors, should never spend money on the superfluous in their investment property because this just cuts down their ROI.
There is no legal definition of what constitutes fixtures and what constitutes fittings however, it is generally considered that ‘fixtures’ are secured to walls or the floor and ‘fittings’ are free standing items.
When deciding if a rent increase is excessive, a court or tribunal may make an ‘excessive rent order”, which specifies : • the amount that the rent must not exceed • the day from which this maximum rent applies – for a period of up to 12 months.
Here are the latest stats :
If you’re thinking about changing your loan to match where you are in life, it’s really worth exploring more than one appealing option.
Here are the links for standard lease agreements for each state and territory:
Here are the Condition Reports for each state and territory, to be completed by your tenant at the start of each tenancy.
Its Valentine’s Day once again, a day where we honour those we love with cards and gifts and all types of gestures. But what about Self- Love? Self-love is fundamental to living well.
At RealRenta, we make it our business to work with Australia’s premier property developers and, in doing so, are able to help you identify, understand and assess the potential capital growth, rental return and tax benefits of your next investment. We’re focused on getting you priority access to developments in Australia’s fastest-growing suburbs. RealRenta currently has an extensive selection of new projects, house & land packages, townhouses,developer specials, one off price reductions and rebated stock. Speak with us today for the latest offerings.
Here are the handy Renter’s reference guides for each state and territory, to be provided to tenants prior to signing a lease:
Each state and territory in Australia has its own government agency and regulatory requirements that landlords must comply with. Here are links to the Bond lodgement forms and Renting guides for each jurisdiction:
• Rental yield measures the ongoing return on your investment property • It lets you compare your investment property to other investments • Rental yield doesn’t include capital growth
There are some exceptional sites for researching the Australian market. Investors can find out about the capital growth of an area as well as other trends and factors.
Welcome to our new property investment round-up blog, where we quickly cover all the latest news items that are important for investors.
Basic tenancy laws state that property damage related to fair wear and tear is the landlord’s responsibility while accidental or malicious damage caused by the tenant (or their houseguests) is the tenant’s responsibility.
Find out your estimated home loan repayments as well as ways to pay off your home loan faster.
More definitions from our Finance Partner.
The complexities of building a new home or undergoing a major renovation can be overwhelming. That’s why you need a firm project plan and a flexible loan to ensure you get the results you want.
Are you struggling with home loan terminology? Here is a home loan dictionary from our finance partner:
Smart property investors can see the benefits of investing in properties with solar power. Nothing can beat the clean and free energy from the sun.
There are many advantages of a dual-key property, two incomes from one property the most obvious. Dual-key properties have long been favoured by smarter property investors, chasing higher returns than stand alone properties.
Our Finance Partner has developed a comprehensive Property Inspection Checklist that investors can use, when looking for their next property acquisition.
Many investors have bought properties near universities, in order to take advantage of the lucrative rental yields the student market has to offer.
Selling for a good price or in your ideal time-frame involves a smart strategy – and sometimes a bit of luck. Follow our tips to understand your likely buyer, and how to present your property in the best possible light.
An offset account links a savings account to your variable rate home loan, so you can use the money in your account to offset your loan balance.
Here is what investors need to know this year, in order to maximise cash flow and minimise liabilities.
We asked some of the most successful agents we know, what they consider the most important things to repair before selling a property to maximise ROI.
We asked some quantity surveyors we know, what they consider, are the most effective strategies to use depreciation, to minimise tax on renovations to investment properties.
One of the most important things a tenant can have, at the end of their tenancy, is a copy of their tenant ledger that shows that the rent was always paid on time.
We asked some of our most successful landlords what they consider, the best investment advice they ever got. Here is what they told us:
It's possible to sell your home quickly at a great price – and it could all come down to one thing: how you do it. Here's what you need to know about the different ways to sell.
Buying off the plan can be more affordable and flexible for investors but doesn’t come without risk. Here are some considerations:
Tax allowances often make investment properties profitable, and depreciation is one of the best allowances out there. For the average Australian, tax allowances make property investing affordable.
If you lose your job or become disabled from injury or illness, our finance partner has a product that can help cover your home loan repayments. It may also pay a lump sum to cover the loan balance if you’re diagnosed with a terminal illness or die.
What is going to happen to the Australian market in 2019? Are we timing the real estate market correctly or have we bought into myths and deceptive stats? Our most successful landlords tell us that you can create wealth at any point in a property cycle.
Did you know that over 60% of Australian households own a pet?
Here are some quick tips from RealRenta, to increase your rental yield
One of the best ways to keep tenants happy and renting your property long term is to do repairs and maintenance in a timely manner.
Online Property Management Software is becoming the best way to manage your rental property.
As a landlord, you should know what your tenants worry about.
An increasing number of ordinary, everyday people are becoming landlords across all parts of Australia. Property investment in our country is by far one of the most popular and secure ways to make a profitable return.
This guide explains how to treat rental income and expenses, including how to treat more than 230 residential rental property items
The purpose of an inspection is to ensure that the tenant is taking reasonable care of the premises, keeping it clean and ensuring that, it remains in the same condition, as it was at the start of the lease.
When it comes to managing your investment property to ensure you get the best possible returns, nothing beats getting the best tips from people that have done it before you.
We would like to thank all of our landlords for their continued support in 2018. It is our goal to help you achieve your expectations for 2019! Best wishes from the team at RealRenta!
Having Tenants is the lifeblood of Property Investment and mitigating the loss of rent is paramount to ensure your investment performs well.
These questions can help you screen tenants before taking the time to check up on references
It’s all good when there are buckets of tenants interested in your properties, however what do you do when you have properties that need filling with not one prospect in sight?
A must watch for every rental property owner
THERE ARE A NUMBER OF WAYS YOU COULD PAY OFF YOUR HOME LOAN SOONER:
Looking for ways to grow your business and keep on top of your expenses?
If your property is still vacant, we are offering our subscribers a Featured Ad on Realestate.com.au for only $149. To take advantage of this offer, email jason@realrenta.com . Seasons Greetings from all of us and a very lucrative 2019!
The team from RealRenta would like to wish all of our RealRenta Landlords a Happy Festive Season and abundant 2019!! Here is how you can reach us over the holiday season:
130,000 people have had their say in a government feedback process on rental laws Landmark reforms are likely due by the middle of next year Making pet ownership easier and capping price increases could be part of the changes
Manage borrowing costs and protect your business against interest rate changes.
This is a great question and the ATO are very clear about this: Rental expenses are deductible to the extent that they are incurred for the purpose of producing rental income. This is from the ATO’s 2018 Guide on Rental Properties:
You can claim a deduction for the following expenses if they were actually incurred by you and not your tenant. Expenses for which you may be entitled to an immediate deduction in the income year you incur the expense include:
This week, we are proud to be offering our landlords, the opportunity to acquire premier land developments in South East Queensland, within the highly sought-after growth corridor between the Gold Coast and Brisbane, with Free Solar Power for each property, from an award-winning family owned business, who are renowned for their high quality craftsmanship and attention to detail.
Thank you to RealRenta Landlord Maryanne from Geraldton for this question. Here is what the ATO says:
The primary reason to obtain pre-approval for a mortgage before shopping for a property is to ensure, you are looking at properties that are within the price range that you can afford. Getting pre-approved for a mortgage doesn’t necessarily guarantee successfully obtaining finance- it is possible a mortgage can get denied, even after pre-approval.
Whether it’s your first home or third investment property, one of the most common challenges, is getting through a bank appraisal of the property. Even though a bank appraisal is not as comprehensive as a house inspection, it is still possible that issues can arise from the process.
All you need to operate RealRenta is an internet connection! Compatible browsers include Google Chrome, Mozilla Firefox, Opera, Safari and Microsoft Edge (Internet Explorer) Operating System compatibility:
When a tenant reacts inappropriately to a stressful interaction- how do you, as a landlord, handle the situation? Emotionally volatile situations can occur in any life context. Even the best intentioned landlord or tenant may have limits to their patience when life’s twists and turns, get the better of us. So what do you do? Here are some vital tips from the team at RealRenta- number 5 is the MOST IMPORTANT.
One of the biggest benefits that our landlords all talk about is the TIME that RealRenta automation saves them.
In the right circumstances, bridging loans can help with the transition from one home to another, without you having to sell first. Find out whether it’s a good option for you. How does a bridging loan work? Most people sell their old home first, and then buy their new home with the available equity. But there are times when buying first may suit you better. Put simply? A bridging loan provides you with the funds you need to buy your new home before you’ve sold your current property.
Recently, people have been asking us how we make money, when we are saving property investors thousands in management fees. The RealRenta platform saves us enormous amounts of time and energy because of its world-class automation.
There is a culture in lots of different industries of adding sneaky fees to the structure of agreements and property management is no exception. It is common for a property manager, to advertise a low Management fee like 8% and then landlords find out later, about a raft of other fees that are not included in the “management fee”.
Thank you for RealRenta Landlord Denise from Sydney, for this question. The following is directly from the ATO website:
At RealRenta, we make it our business to work with Australia’s premier property developers and, in doing so, are able to help you identify, understand and assess the potential capital growth, rental return and tax benefits of your next investment. We’re focused on getting you priority access to developments in Australia’s fastest-growing suburbs. RealRenta currently has an extensive selection of new projects, house & land packages, townhouses,developer specials, one off price reduction sand rebated stock. Speak with us today for the latest offerings.
You need to know about the PAYG installment system, if you are making a profit from renting your property. You are required to pay PAYG installments if you earn $4000 or more in rental income and the debt on your income tax assessment, is more than $1000. The ATO will notify you if you are required to pay PAYG installments and you are usually required to pay installments at the end of each quarter, however in some circumstances, you may eligible to pay your installments annually.
Now with RealRenta Connect you can connect all your utilities in just one place-all in one go! Moving can be stressful but with RealRenta Connect, there is no need to stress- let us do it all for you. Let us help you get the best deals from the best providers.
A transaction account, suitable for customers, who maintain a high account balance and low transaction volume. Earn interest on a tiered basis on every dollar.
The ATO says that you must include the full amount of rent and any other rent related income you receive, when you rent out your property. This is what the ATO says constitute rental-related income:
When you own a holiday home, you can claim tax deductions for expenses when the property is rented out, or genuinely available for rent. Even if it is not rented out, there will be capital gains tax implications when it is sold. The following is from the ATO Website:
Our Finance Partner has an easy to understand medium to long term business loan up to $1m, ideal for growing your business.
We have all heard them and some of us have been unlucky enough to be in them. Nightmare property managers are everywhere.
Tenants are free... Create a tenant account for free. Once you have your account setup you can apply for properties, get added to leases, setup automatic payments & much more...
We have compiled a comprehensive list of links for your reference:
We recently received a question from one of our landlords about apartments that are part of commercial residential premises and what GST rules apply. The following is directly from the ATO’s website:
Savvy investors know the financial benefit of an Airbnb property, as they can make more money from short-term rentals. The appeal is obvious, but is it really a smart investment decision? Airbnb is not for the faint of heart and really requires quite a bit of research before you take the plunge. Here are some drawbacks noted from some of our RealRenta Landlords that have dabbled in Airbnb:
Understanding how bias works can help us to think more clearly about our decisions. Psychologists call it ‘cognitive bias’. We explain these biases and how they may be affecting your investment decision-making process and limiting your potential to make different choices.
The property settlement process can be confusing. Let us help you understand and prepare for settlement day. Don’t let settlement day stress you out. With a little understanding and the right preparation, you’ll be unpacking boxes in your new home before you know it.
A large percentage of our younger landlords in their 20’s and 30’s and are “Rentvesting”- which means they have bought investment properties whilst they continue to rent, in order to get a foothold into the property market.
Is your home compliant with the new smoke alarm legislation? Did you know your newly-built home must be compliant to strict new Queensland smoke alarm legislation? Queensland properties with Development Approval after 2017 must meet these same requirements.
Thank you to al the landlords who sent questions in to us! Please send all your questions to jason@realrenta.com Here are some of the best:
At RealRenta, we make it our business to work with Australia’s premier property developers and, in doing so, are able to help you identify, understand and assess the potential capital growth, rental return and tax benefits of your next investment . We’re focused on getting you priority access to developments in Australia’s fastest-growing suburbs.
A property ceases being your main residence once you cease living in it. However you can continue treating a property as your main dwelling and as your main residence for CGT purposes, even though you no longer live in it. The following is directly from the ATO’s website:
At some point, every property investor will incur legal expenses of some sort. The following excerpts are directly from the ATO website:
Last week, I had a discussion with one of our RealRenta Landlords about whether or not she is entitled to certain tax deductions, if she finds out her investment property contains asbestos. This is such a great question, so we searched the ATO’s website and the following is straight from the source:
RealRenta does everything a property manager does- at less than a quarter of the cost. Visit our Home Page now and use our fancy calculator, to immediately see what Self Managing with RealRenta will save you: www.realrenta.com.au So what does it all cost?
Auctions can be a risky way to purchase property and you will most probably, always end up overpaying the actual market value. Competition at the auction is naturally going to drive the price up and in this cooling market, this can be a really bad move.
If rent is $350 a week or less in Victoria, the bond cannot be more than the equivalent of one month’s rent. Landlords/agents can charge more if:
This is a really good question and definitely something all landlords need to be aware of. The following is from Consumer Affairs Victoria website ( also check with your respective state and territory):
The most common question that is coming up from our landlords at the moment is “what is going to happen to our property market in the immediate future?” Our current political environment is certainly not helping ease anxieties, as it is still very uncertain, who will win the next election.
The real estate industry in Australia is changing and more competitive than ever. There is no need to put up with inferior service from an agent or property manager under any circumstance. There are now, plenty of alternatives to the traditional agency models out there, so take control and call out the bad agents when you encounter them. If you are dissatisfied with the standard of conduct of an agent, you can report them to the following agencies for your respective state or territory:
Serviceability is extremely important when a lender, is considering whether or not to approve a loan. The lender will review your assets, income and outstanding debts, as well as assessing if you can meet repayments. Changes to APRA rules and the Royal Commission have lead to increased scrutiny and have forced lenders, to adapt serviceability metrics. Investors need to be more prepared than ever, before applying for investment loans. Here are a few tips from our Finance Partner, on how to improve serviceability and maximise borrowing power.
Our landlords are pretty savvy- after all they are smart enough to self-manage using RealRenta and they are saving thousands of dollars every year, in management costs. Here are some more tips from our landlords on the different strategies they employ, to further increase their rental yield and keep good tenants happy:
A few of our landlords have been asking us lately to clarify what they can or can’t claim, in relation to travelling to their properties. This is straight from the ATO’s website:
Do you own a small business that’s selling overseas or importing products and equipment into Australia? Trade finance can help you make the most of opportunities without tying up your valuable working capital.
RealRenta's new Landlord Introducer Program is one of the ways we reward our landlords for referring other landlords to our platform. Get 1 month Free Access to RealRenta, for every person you refer, that becomes a paid user. As simple as that ! But wait, there's more....
Enjoy the flexibility of an all-in-one line of credit, with competitive home loan rates from our trusted finance partner.
There is no need to hand over your rental income to a property manager. See how easy it is to automatically manage your investment properties with RealRenta's automated ledgers.
Is there a crash coming or is it a soft correction? Will we see deflation or inflation in the overall economy? No matter what happens in the coming few months, having your rent at or above market levels is critical.
2019 is definitely going to be a buyer’s market due to several factors contributing to the cooler conditions. It’s going to be great for buyers but how do vendors make sure, that they can still achieve a great price as well? Here are some important tips from our property strategist partners:
RealRenta Landlords have access to all the necessary tenancy lodgement forms and notices, for each different state and territory in Australia.
Now finally for all RealRenta tenants, a free and convenient way to move home. Here are RealRenta, we want to help you build a mutually beneficial relationship with your tenants, by helping them in their relocation process.
Untimely, incorrect or non payments within the Building industry can be devastating, where subcontractors have been left out of pocket far too often. If you’re a head contractor, our Finance Partners’ Project Bank Account can help you manage that risk.
Prices are really starting to slump in some areas and other areas, are experiencing smaller price drops.
Pets can impact homes in several ways, especially in terms of cleanliness and smell. If your property has pet hair everywhere, strong pet odour in the house, or pet waste in the yard, it can increase the selling time and reduce your property’s value.
Pre-approval is an important step for home buyers. Here we explain the process for getting conditional approval for your mortgage. Getting conditional approval for your home loan allows you to look – and enquire – with confidence, and it helps narrow your options. Here are eight commonly asked questions about conditional approval, that important first step in the home buying journey.
When applying for business loans and finance, the more information you can supply the better. We explain exactly what you'll need.
The better you know your market, the more confident you’ll be about your property’s worth. We’ve got you covered for property selling know-how in order to help set your expectations. Imagine yourself on selling day where you’re left wondering how you got the price so wrong. Now imagine the opposite, where your home sells for what you’d hoped – or more.
Bridging loans can help you buy a new home before you sell. Explore the pros and cons and decide if a bridging loan is right for you. In the right circumstances, bridging loans can help with the transition from one home to another, without you having to sell first. Find out whether it’s a good option for you.
Compare our LANDLORD BUILDING & CONTENTS COVER
Your investment property deserves protection just like your home does. Sleep better knowing your investment property is covered by NAB Residential Investor Insurance.
In most cases, a tenant’s insolvency is an automatic breach of their lease agreement. Insolvencies can pose significant problems for landlords with regards to unpaid rent.
We are experiencing a very interesting market at the moment and lately, our landlords have been asking us, where we think the best deals will soon be. One way of finding properties under market value, is to look for mortgagee sales. After all, the profit is made when you buy right!
Banks are tightening access to credit for investors but there are ways you can boost your borrowing capacity, even in these testy times! Here are some tips from our friends in the industry:
Australian real estate is well known, as being a very effective inflation hedge over the long term but you would have to be living under a rock, to not be aware of all the current anxieties in the market at the moment.
There will be a large number of apartments coming onto the market soon with a large percentage of mortgagee and distressed sales. How do you pick the best ones and what should investors be considering when researching the market? Here are some tips from some of our most successful RealRenta Landlords:
Lenders apply stricter lending policies in locations they deem as high risk, to limit their own risk. This can affect the maximum available LVR and the maximum amount that you can borrow.
We speak to dozens of property investors every week and we know that a lot of you are getting nervous about the current conditions.
Cash-flow is everything when you have a property-investment portfolio.
Tips for buying a prestige property in a falling market.
Investors have been warned to expect a “prolonged period of crimped bank profits” following the recent release of the interim report, from the banking royal commission.
As an Investor, it is vitally important that you continually review your properties and your finances to make sure you are maximizing your returns. It is important that your properties are working as hard as possible and that your money is working as hard as it can and that you are seeking the right advice. Here are 3 RealRenta tips to ensure that this is happening:
SO you’re taking the plunge and buying your first Investment Property! Many first time investors can make mistakes because of their limited knowledge of managing an investment property, so here at RealRenta, we have compiled a list of 6 Do’s & Don’ts to help you maximize the return on your Investment Property.
It is a landlord’s obligation to make sure their tenants are living in a property where everything works. Sometimes it can be hard to differentiate between urgent and non urgent repairs and can easily, lead to misunderstandings in the tenant/landlord relationship
In 2013 a Victorian Coroner warned that landlords should check gas heaters every 2 years, after 2 children died in a tragic gas leak accident. There aren’t many laws regarding fireplaces and chimneys but landlords are expected to keep their properties in a decent state of repair.
There are several states in Australia at the moment, experiencing some weakness in the rental market, due to oversupply and other economic factors. Some vacant properties in these areas are renting for lower prices with some tenants insisting on lower rents when renewing their leases.
Setting the right rental price is crucial to making sure you get the right types of tenants, who will look after your property and make sure that your investment meets expenses and earns you money.
Inspections are a good opportunity to avoid problems, before they become bigger problems and most tenants will cooperate and understand that it is also, an opportunity for them to have things repaired.
Your investment property deserves protection just like your home does. Sleep better at night knowing your investment property is covered by Insurance for landlords.
Here at RealRenta, we are passionate about helping our Landlords make the most of every opportunity. Our goal is not only to help you realise a return from your investment property sooner, but also, to make sure that you have access to the best advice possible, to assist you on your financial journey.
Late rental payments, disrupt cash flow and can be a very frustrating experience for landlords. RealRenta Landlords have peace of mind, when it comes to rental payments.
Our goal at RealRenta is to help you get more out of your Investment Property by making everything EASY AND STRESS FREE! RealRenta Landlords can save up to $1,200 or more per year in fees, doing away with Agent inefficiencies for good, whilst maintaining a professional veneer as a landlord.
It is important that landlords understand their rights and responsibilities, when it comes to the final property inspection in a tenancy. Landlords are entitled to have their property returned to them in a clean and undamaged condition, at the end of a tenancy.
The Victorian Government has introduced new legislation to make Airbnb landlords pay their neighbours compensation of up to $2,000, for property damage caused by guests.
Discover what your property is really worth. Unlock valuable insights with our Finance Partner’s instant property report, included an estimated value.
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Rent your investment property quicker by placing your ad on RealRenta.com.au. Your Ad will also automatically appear on Rent.com.au and Homely.com.au for Free until you have found tenants. Here are some quick tips for uploading the right type of photos for your rental ad:
RealRenta cuts the expensive middle-men right out of the property management equation. RealRenta does everything they do- at a quarter of what they charge. A cloud-based platform that you can run from your phone, laptop or tablet. What else does RealRenta do?
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I relied on my property manager to take care of my investment property but the agent’s ineffective approach ended up costing me dearly.
Any landlord who’s had their property awhile knows there is plenty that can go wrong with an investment property.
A landlord has revealed to some key things property managers do wrong
When buying an investment property, you need to know that there are more costs then just your mortgage repayments
It’s impossible to be a property investor without tenants as they help pay your mortgage.
Finding the right tenant is crucial to the success of your business as an investment property owner and knowing how to do this can be tricky.
The three steps you need to deal with problematic tenants
When you order a Building & Pest Inspection remember that the inspector’s job is to find the flaws in the property – that is, what is wrong, and not what is right.
official interest rates to a new record low of 1.5 per cent
An investment property can be an attractive financial proposition, but finding the perfect tenant is a crucial part. A good tenant will be profitable for the landlord, whereas a bad tenant can be costly for everyone.
Making the right choice of tenant for your rental property is very imported.
One of the most common issues among investors is bad property management.
Air BNB makes it possible for your tenant to make extra income whilst you bear all the risk!
Buying a property with renovation potential makes good sense
People choose to have a Line of Credit (LOC) when they want a Variable Rate Loan, secured by a Mortgage over a residential property, with an approved limit that can be drawn from.
Home buyers can save thousands of dollars by repaying their home loans more quickly by making extra repayments and using offset accounts. You need to watch out for traps on no-frills and fixed home loans which may restrict repayments
At its May board meeting today, the Reserve Bank of Australia has decided to cut the official cash rate to a record low of 1.75 per cent!
There are essentially 3 types of Debt: 1. Good Debt 2. Bad Debt 3. Necessary Debt
Rather than just sitting and waiting for the market to go up, why not make simple improvements to your properties that will have your tenants happily paying more rent.
Becoming a Renting Investor Property Owner
Buying a property with an existing tenant can have its’ downsides and benefits.
Buying your first investment property can be both exciting and daunting.
12 KEY TIPS!!
A must watch for every rental property owner, how property managers come up with their fees
Having Tenants is the life blood of Property Investment and mitigating the loss of rent is paramount to ensure your investment performs well.
The Reserve Bank has again decided to leave official interest rates at the record low of 2.0 percent. Rates have now been on hold for nine consecutive months following the last decrease in May last year.
Official rates remain steady, Economic outlook remains problematic, Future rate cuts still possible, Spring housing markets flatten,
The two tiered growth evident in Australia’s housingcontinued through July, with the overall value of Australia’s housing market surging by half a trillion dollars
Official rates on hold again over October Economic outlook remains cloudy Still a chance of rate cut this year Housing market weakening
Not Having a Lease Agreement Not Filling in a Condition Report Not Understanding Tenancy Laws Not Doing Proper Checks on Tenant Applications Not Asking for a Bond
The dream of a white picket fence could be a thing of the past, with many Australians stuck on the rental roundabout, according to a report released by realestateVIEW.com.au.
The Australian Taxation Office released an overview of 2012 income tax returns for individuals, companies, superannuation funds, partnerships and trusts. The recent publication does not include information on the number of individuals with an interest in a rental property