Bees Nees City Realty
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Posts Tagged with property management Brisbane

Posted by admin on 8 March 2010

Great news for landlords and tenants of the Bees Nees team with our

Bees Nees' Annie von Rudzinski

Bees Nees' Annie von Rudzinski

Manager Annie von Rudzinski elected to the Property Management Chapter Committee for the Real Estate Institute of Queensland.  Annie has worked in this part of the industry since the early 1990’s and her appointment recognises her experience, and ability to help direct REIQ’s position on legislation and other tenancy issues. Annie’s keen to hear input on how things could be improved on all sides of the rental marketplace.

Principal Rob Honeycombe has also been asked to join the Residential Tenancies Authority’s Industry Development Forum. Rob was recently elected to the board of the REIQ and will represent the Institute at this Forum. After a new full Act’s introduction in 2009 this is a quieter year for the RTA, but the industry’s still adapting to the changes.

Posted by admin on 22 February 2010

Professional internal imageAs an agent we’re given the property you own, that you spend your hard earned dollars keeping, and you trust us to do our very best to manage it.

Our “very best” can be a range of things, so make sure you choose an agent for both their key skill sets: Letting & Management.

Bees Nees gives every new landlord a big gift for coming on board:  innovative and eye-catching promotion. Our promotion of rental properties is absolutely outstanding compared to most of our competitors (to be honest I have to laugh at many rental advertisements I see, they are a joke!).

Firstly, we organise a professional photography shoot. They look fantastic, even I can’t make a penthouse look good on a $99 Canon.

Secondly, we organise a drawn floor plan. So the tenants can imagine life in the home before they call us.

Thirdly, we write an ad that leaves nothing to guesswork. The facts in full so we’re making your home the easy choice on a long list of competitors! (don’t leave something out that you know tenants will ask about, or they may just call about another property!)

This is not rocket science. This is simple, informative and time saving for your tenants.

So if we create a cool ad, more people will click on it.  If we give them the information they need your home will be first choice. Then if we show them and make the process easy (24 hour turnaround), they think “Geez I’d love to rent from Bees Nees” and hey presto you have yourself a tenant.

We also know that once have a tenant, there is no way you can trust that the tenant will have  gorgeous furniture. Come time to find the next tenant, we have the lovely photos from the start!

Posted by admin on 14 December 2009

Apple computersProperty investors have generally been left in the dark ages getting any timely access to info on their rental properties.

You can log in to your bank 24/7 and see what’s happening so why not your real estate agent? Bees Nees can now offer our landlords a heap of property info online, including current lease and rent details (are they paid up to date?!) along with copies of past monthly statements. Our software updates the web pages each night so the info is fresh and relevant.

If you’re a Bees Nees landlord just read the bottom of your monthly statement for the web address and your personal and secure log-in. Or call us for the details. If you’re not a Bees Nees landlord, maybe it’s time for a change!

A new function from domain.com.au is making life easier for home buyers too. Called “Inspection Planner” it’s a neat tool that allows you to plan your Saturday inspections, helping you set a schedule, avoid overlapping times and even giving you directions and a map to follow from one open home to the next.

It’s great to see some strong innovation from the big property portals in recent months and this one seems such a simple but helpful tool. See the quick video intro.

Posted by Rob Honeycombe on 16 September 2009

toothbrushesInteresting but not surprising news today that Brisbane City Council has uncovered a student share house with 37 occupants. Yes, in the one house!

Brisbanetimes.com.au reports a raid on the Sunnybank Hills home discovered the student-slum, part of a city-wide crackdown on over-crowded residential dwellings. Such a big number in one house is unusual but we’d suggest  ‘extended households’ aren’t surprising anymore, especially in our inner city. International students particularly are more open to sharing small spaces. They don’t have big rent budgets and they don’t crave privacy the way many locals do.

For Council there’s some obvious problems with noise, fire risks, extra carparking and waste and rubbish volumes. For landlords the wear and tear on a property will obviously be more significant.

Some landlords are happy to wear this, often exploiting tenants and achieving above-market rent by encouraging or turning a blind eye to the practice. They need to be careful though, with fines of up to $100,000 if they exceed BCC’s new limit of 5 “unrelated” occupants in any one home.

So how do we as property managers police this issue? With difficulty, is the truth. We do scrutinise tenancy applications carefully (e.g. 2 students rarely intend to cover the rent on their own for a 3 bedroom with heaps of spare space), a previous rental history/reference always a good indicator of what they’ll do. The Act requires us to give 7 days notice to inspect so unless there’s an emergency we can’t do a surprise inspection. When we do check on a property we can count toothbrush numbers for example, but even experienced property managers will find it hard to be sure if there’s ‘hidden’ occupants.

The best way to avoid this problem is to get good rental references from their past agents/landlords. It’s no guarantee the tenants won’t move 9 of their best friends into the home, but it is some peace of mind.

If your property is vacant and you’re faced with a choice of reducing the rent or accepting a tenant with limited rental references, what should you do? Does every tenant deserve the ‘presumption of innocence’? Each landlord should make their own choice but for me, I’d drop the rent.

Posted by admin on 27 August 2009

apartmentsMany landlords I speak to with vacant properties are quite concerned about how fast a tenant can be secured and they seem to forget to ask me any questions about the ‘management’ of the property.

When you let your property you pay a letting fee, usually equivalent to one week’s rent. For the six or twelve months following that you pay a percentage of the rent for the management. Why is it then some landlords choose to pay someone both these fees without being concerned about their abilities to do the rest of the job?

Consider this: if a letting agent wants to concentrate on all their ability in getting a tenant faster, which tenant are they choosing for your property? I’ll happily talk to you all about our success of renting property quickly and for a great price but my job doesn’t end there. You’re paying us for a whole lot more and you should be getting what you pay for.

The letting process is the just one part of the property management process. Make sure you get what you’re paying for.

Posted by admin on 1 July 2009

The new Residential Tenancies and Rooming Accommodation Act took effect from today, with a range of new obligations and duties for landlords. If you haven’t heard from your property manager about the changes to the way they now need to represent you, it might pay to call them. Some offences under the new Act do carry stiff penalties. Read some of earlier posts about the challenges for landlords from the new Act, and how it may not be any better for tenants either!

Posted by admin on 25 June 2009

One of the best ways to ensure a minimum vacancy is to have your property freshened up for the first inspection and this can be done with a simple clean and by installing an air freshener device. A ‘sparkle’ clean (a professional clean on an already tenant-cleaned property) can be as little as $100, but it will give the property that ‘fresh and clean’ feel. Ask your Property Manager to install an air freshener, or have them spray the property prior to tenants going through – you’d be amazed at the difference!

Posted by admin on 11 June 2009

house maintenanceRIGHT!! But in the world of Property Management, it’s quite easy to say something has been done, when in fact it might not have been.We’ve picked up a few new properties to manage recently and upon picking up the files have noticed that in most cases, something is missing. In most instances when we’ve spoken to the owner, while obviously they have been unhappy enough to change to a new Property Management company, they haven’t really been aware of how much hadn’t been completed.

While we understand that you’re paying for someone else to handle the detail for you, it’s important that you are at least seeing copies of important documentation – here’s what and why…

Routine inspection reports + photos – Make sure that you’re seeing your property at least once per year – even if it’s via photos. Ensuring photos have been taken along with the report highlights changes in the property’s condition and allows you to plan for any maintenance you might like to do in the future. Most importantly, it’s a small check that the routine has actually been completed. At a minimum, you should have two inspections per year.

Copies of the General Tenancy Agreement and any subsequent renewal – if your property is on a fixed term lease, you control the times it might become vacant. This has a huge impact on your investment return. It’s also important for insurance reasons.

Copy of the Entry Condition Report that’s been completed and signed by the tenants – this report will show you any changes between tenancies and will identify areas that the property managers should have taken care of from the previous tenant’s bond. It also draws attention to maintenance that might be needed in the future – for eg. are there a lot of paint chips? – you might like to budget for a repaint at the changeover of the next tenancy.

A few more important things we would diarise if it were our own investment properties – annual timber pest inspection, building inspection especially if there’s any chance at all the property is not structurally sound, and the date any insurance is due for renewal.

Your investment property is a business and possibly one of your largest assets. As with any business, it’s great to have a reliable and trusted manager – and you can mentally ‘tick’ the box if you’ve sighted the important documents.

Posted by admin on 18 January 2009
professional photos make all the difference!

professional photos make all the difference!

My biggest bug bear? Rental advertisements! We just can’t understand why agencies/property managers don’t place the same importance on marketing a property for sale, as they do a property for rent. Actually, it’s called instant gratification. A sales person/agency will make in the order of almost $10,000 on an average property sale whereas, an agency will only make approximately $1500 per year from management fees. Plus, the rental market is strong and therefore property managers know they can get away with shoddy advertising.

In this day and age, 99% of rental enquiry comes through the internet. Now, we’d love to sit here and tell you that writing an advertisement is labour intensive, but the facts are, that once it’s done the first time, it’s a simple matter of pressing one button when the property comes up for re-let and wah-lah the advertisement reappears. Now then, how hard is it to spend some time on professional photography, floor plans and an enticing, descriptive prose the first time the property is handed to a property manager? It’s really not.

You would think that realestate.com.au charges by the letter wouldn’t you? DLUG, SLUG, D/W, A/C, etc. I can tell you, it doesn’t. Agents can literally write anything they like at any length they like. There is no word limit or extra charges for extra length. There is also a limit of 26 photographs – not 3! So why then are there still advertisements out there that describe (we use the term loosely) a property as “2 bed, 1 bath unit, nice Street, SLUG” – with one photo of the outside of the apartment? And why would a tenant be enticed to inquire about renting this apartment when they can see another comparable apartment with all its features listed. Would you go through the trouble of calling a rental agent, making a time to see the property, have them turn up 10 minutes late only to show you something you hated when you know by looking at the photos and floor plan that the other property is suitable? You wouldn’t, and neither would the tenants you are trying to attract.

When selecting a Property Manager, check their standard of advertising. Check they spell words correctly, describe the property accurately and in its best light. Check the photos – are they blurred, too dark, too light? Check to see whether the property manager/lettings clerk knows the rental rates in the area and is pushing to get the best rent.

When your property is up for re-let, do the checks above and just see whether you would rent your property. Chances are if you wouldn’t rent it at the price you are asking neither will anyone else – at least not the type of tenant you want to attract!

Posted by admin on 18 December 2008

house maintenanceYou bought an investment property to receive regular income while watching the capital grow. In short, you put yourself in debt and made one of the biggest purchases of your life to secure your future. It would be handy to know then, what makes a tenant pay more, stay longer and care for your property?

There are a few reasons that will be for another time, for eg. Position to transport, amenities etc. There is a really simple answer though too – regular maintenance and upkeep of your investment.

What do tenants want? Here are our top 7:

1. Safety – Security screens, security locks, alarms etc are all highly desirable.
2. In Brisbane, air-conditioning/at least ceiling fans. It’s a must-have these days and at such a small cost it really will ensure a higher rental.
3. Storage space – In an age where credit is so easy to attain (notwithstanding the supposed credit crunch – um Harvey Norman are now advertising 50 months interest free!), we have too much stuff and we replace perfectly good things so easily, but we still ‘paid good money’ for the old stuff, so need somewhere to store all the ‘goods’!
4. Decent kitchens and bathrooms. (I can’t even make light of this one!) Tenants want clean and tidy kitchens and bathrooms. Note, I’m not saying to necessarily spend $000’s on stainless steel appliances and frameless shower screens. Just a few dollars on ensuring a clean, mould-free bathroom and fat-free kitchen. Note: a dishwasher is handy and again is very inexpensive and is a highly desirable extra.
5. Remote lock-up garages. Really, who has the time to get out of the car and open the garage door and then get back in the car and park it?!
6. Good paint. A rental property should be re-painted every 5 – 7 years.
7. A quick response to any maintenance issues at the property. If you trust a property manager enough to place your most treasured investment with them, you should be able to trust them enough to spend up to $300 without needing to seek approval. This means that your property manager can swiftly attend to maintenance issues and therefore keep your tenant happy.

A happy tenant is unlikely to baulk so much at the next rental increase, and is likely to care for the property because they genuinely enjoy living there.