Posted by admin on 10 January 2012
Most of the ‘old heads’ we meet amongst property investors have a calm patience about them. Many owned property during the soaring inflation of the 1970’s, interest rates of 17% and ‘recessions we had to have’ in the 1990’s, and finally the boom times of the 2000’s. Slow to panic in dropping markets, un-tempted by rising valuations, undeterred by a troublesome tenant, they focus on the long term. We’re not saying it’s the only way to approach property investment, but it’s certainly worked for many.
In the early 1990’s one Brisbane property investor and author jolted plenty of us into investing in real estate. Jan Somers, a former Cleveland school-teacher, wrote a best-seller called “Building Wealth Through Investment Property”. Her message? You can’t do nothing and expect to retire on anything more than chicken feed. Compulsory super won’t be enough so invest then be patient. It’s become unfashionable to buy books like that… but the message remains sound.
So as we kick off 2012 will investors return to Brisbane real estate? We’ve seen self-managed super funds nibbling at the offerings and the ATO reports that of the $418 billion held through SMSF’s less than $15 billion of it is currently invested in residential real estate. And $114 billion is sitting in cash deposits. It’s a huge market waiting for the ‘right time’.
What would tempt you to invest in real estate right now? Higher rents? Scrapping capital gains tax? Reduced stamp duties? Or is just not the right time to buy Brisbane real estate?
We’d love you to share your thoughts in a quick survey (5 questions only). Please click through.
Tags: Brisbane Property Management, Brisbane property sales, investment property
Posted in Brisbane landlords, Brisbane's sales market, property taxes and rates etc | No Comments »
Posted by admin on 3 August 2011
Preparing a tenancy agreement is not the simple process it used to be. Like much of Queensland’s property paperwork this heavily-regulated lease has grown in length enormously over recent years. Somehow the Acts get bigger, the agreements get bigger, but whether either side is any better off is anyone’s guess. One of the biggest dangers for self-managed landlords and inexperienced agency staff is contracting out of the Act, usually through requiring tenants to meet unlawful demands.
And sometimes those who should know better can come unstuck too. According to the RTA’s latest news two principals of a Brisbane real estate agency have been fined $3,000 each for six offences including adding special terms into tenancy agreements in breach of the Act. They were ordered to write to all existing tenants and inform them that certain special terms that had been written into the agreements would not be enforced.
No conviction was recorded.
Tags: Brisbane Property Management, Queensland tenancy legislation, Residential Tenancies and Rooming Accommodation Act, Residential Tenancies Authority, tenancy agreement Queensland
Posted in Brisbane landlords | No Comments »
Posted by admin on 21 February 2011
pic courtesy affordablefencing.com.au
If you can keep track of this legislation you have far too much spare time on your hands! We have to – it’s our job!
Since December 1st Queensland pool owners have new legislation to comply with to ensure their fences meet the required standards and are kid-proof. Eventually the rules will cover all pools but for now it’s only when you sell or lease your property – and yes this includes apartments and all buildings with shared pools. For the full details read our earlier blog post.
Late last year the government recognised that getting the required inspections and certifcates issued for all body corps was going to take some time, so they agreed we could sell or lease your apartment without a certificate – but only if we gave the buyers and tenants formal notices that there wasn’t one.
Now they’ve moved to include leasing of homes with “non-shared pools” (that’s house pools to you and me), admitting that the state’s building inspectors have a few things on their plate right now, plus we don’t want rental stock sitting empty waiting for certificates. So if you’re leasing your house with a pool you do not need a compliance certificate, provided you issue a notice advising that there isn’t one. If you’re selling your house and it has a pool you do need a certificate before you can sign a contract. This recent change is for leasing only.
At least that’ll be the case until July 8th, when it will all change again…
Tags: Brisbane landlords, Brisbane Property Management, Brisbane property manager, pool fencing laws Queensland, rules of renting, selling a house Brisbane, selling an apartment Brisbane
Posted in Brisbane landlords, Brisbane's sales market | 1 Comment »
Posted by admin on 19 July 2010
The Residential Tenancies Authority recently released their June quarter stats and analysis by Bees Nees Research shows inner Brisbane’s rents have now remained flat for well over a year. Small drops in some suburbs shows landlords are being cautious and reducing their rents to keep their homes rented.
Bees Nees head of Property Management Annie von Rudzinski said a more balanced market had replaced the strong rental growth of 2007-2008.
“In postcode 4101 for example we have the same median rents for a 2 bed apartment that we did in September 2008 at $450 per week. The appeal of South Brisbane, West End and Highgate Hill is still very much on the rise but saving money in tougher times has drawn some tenants into cheaper areas further out.”
The RTA shows rents are flat right across Brisbane and Ms von Rudzinski believes landlords are reluctant to push for rent increases. “Rising interest rates do make some landlords nervous and that has a flow on effect. To see a drop in popular spots like Fairfield and Annerley (down $10 to $310 per week for a 2 bed apartment) suggests tenants are getting good value. A typical house in that area is still $400 per week, the same level as September 2008.”
One of the few inner city areas to see a rise in the June quarter was a $10 increase for Woolloongabba/Dutton Park apartments.
Tags: Brisbane Property Management, median rents Brisbane, Residential Tenancies Authority
Posted in Brisbane landlords, Brisbane's rental market, Dutton Park, Highgate Hill, South Brisbane and South Bank, West End, Woolloongabba | No Comments »
Posted by admin on 24 April 2010
A surprisingly high 65% of renters take more than 3 months to find a home, according to a survey by property portal RealEstateView.com.au
General Manager Petra Sprekos said their site’s users were confirming the view that demand far exceeds supply in the rental market and that finding a rental home can prove extremely difficult.
“Most renters report that they have problems finding a home. A wait of three months to find a new home means that if you only have a lease that is 12 months in duration you would need to spend a quarter of your time looking for a new home.
RealEstateView is now Australia’s 3rd largest property portal but it’s still a largely Victorian site, so these stats don’t necessarily reflect Brisbane’s current rental market. But there is info in here for Brisbane landlords, especially on the price-sensitivity of tenants.
“The survey also found that renters knew they had to be flexible if they were to find a home with more than half willing to look in other suburbs or for homes without the features they wanted. One in ten will even look at share accommodation to find a place to rent and just under half will increase their budget.”
“It shows that renters will trade quality and location before they increase their budget.” Petra Sprekos concluded.
Tags: Brisbane home hunting, Brisbane Property Management, Brisbane real estate, Brisbane rents, RealestateView.com.au, Rent negotiation Brisbane, tenants Brisbane
Posted in Brisbane landlords, Brisbane's rental market | No Comments »
Posted by admin on 25 February 2010
We’ve just read all the news online about the new fine imposed for leaving your bin out for more than 48 hours and we don’t strongly disagree.
As residents of inner city and suburban streets of Brisbane we like a neat street. But as real estate agents we wonder – who will pay the fine?
We’ve today gone out to a property under our management to complete the exit inspection, the tenants have moved on. The tenants have done exactly what we expect them to do and left their bin out waiting for bin day. I’m not dragging it in and dragging it back tomorrow (especially on 30 homes a month) Where would agents fine time. And..Yuck!
366 comments on news.com.au clearly shows people have an opinion on this issue. As a tenant or landlord in Brisbane what would you prefer?
a) Tenant leaves bin on street and property manager pulls in within reasonable time frame
b) Council fines landlord, so bin is left inside and stays full (ooh stinky for next tenants)
We know for sure it will be landlords that will pay the fine (Council has all their records at their fingertips and nothing for the tenants) and that doesn’t seem fair.
We know it is an issue, but I think a ‘repeat offender’ system might have to be adopted. Your thoughts?
Tags: Brisbane City Council, Brisbane landlords, Brisbane Property Management, Brisbane property manager, Brisbane rental properties, Brisbane tenants, real estate agents Brisbane
Posted in Brisbane landlords, Brisbane's future & new infrastructure, Brisbane's rental market | No Comments »
Posted by admin on 12 February 2010
You should all be fully aware of the new Act we are now following since July 2009, but have you as a landlord or tenant noticed any of the changes?
One of the first things we must do, when appraising a property for rent and providing landlords with information about property management, is set a listing price and marketing campaign. Since the introduction of the new Act an agent is unable to push for rent bidding. So, if we have 5 applications that are all excellent, we cannot start asking them all for their highest offer and high-five the landlord when we get more than we really budgeted for (and more than it was really worth!).
If a tenant offers a higher figure, for example they might be in a huge rush to move or they have a pet, then we”ll take it to the landlord for their consideration, but we can’t tell the other applicants so they can erupt into a money throwing fight.
So if you want to get a tenant, quickly, with good references, and have a choice of tenants to pick from… price it right! We’ll work hard to get you the best rent possible but don’t set it too high and wait for the tenants to negotiate because they’ll just choose something else.
Tags: Brisbane Property Management, Brisbane rental appraisal, Brisbane rents, Rent negotiation Brisbane, tenant marketing Brisbane
Posted in Brisbane landlords | No Comments »
Most of the ‘old heads’ we meet amongst property investors have a calm patience about them. Many owned property during the soaring inflation of the 1970’s, interest rates of 17% and ‘recessions we had to have’ in the 1990’s, and finally the boom times of the 2000’s. Slow to panic in dropping markets, un-tempted by rising valuations, undeterred by a troublesome tenant, they focus on the long term. We’re not saying it’s the only way to approach property investment, but it’s certainly worked for many.
