Weekly/Fortnightly/Monthly rent – how do I calculate it?

Weekly/Fortnightly/Monthly rent – how do I calculate it?

Posted by Michelle

People are often confused about the calculation of rent payments; this is because it is not as straightforward as you might think. Agents and landlords may use any number of different methods to calculate your rent, there is no formula set in the legislation. However, it must be noted that if you pay what you determine is the correct rent and it does not equal what they determine is the full amount, it can be viewed as rent arrears and they can issue a Notice to Remedy and then even a Notice to Vacate. Ultimately if you need clarification you should arrange an appointment with your agent or Landlord rather than paying a shortfall in order to avoid this reflecting on your rental history.

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Responsibility regarding sewer and drain blockages

Responsibility regarding sewer and drain blockages

Posted by Michelle

In accordance with the Water & Sewerage Industry Act 2008, TasWater is responsible for the maintenance of sewer mains and branch lines to the customer’s connection point. The property owner is responsible for all drains, fixtures and apparatus upstream of and including the first inspection opening (IO) or boundary trap (BT) or if no such device is fitted, then to the property owner’s boundary (the private system). The following information provides guidelines for plumbing contractors and property owners involved in the removal of a blockage in a TasWater or private system.

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What is considered “Reasonable Wear & Tear”

What is considered “Reasonable Wear & Tear”

Posted by Michelle

Wear and tear is a topic that has different perceptions and it can often be a grey area when dealing with different issues. As property managers, it is our responsibility to Act for the property owner first and foremost however we also must act within the rules of tenancy legislation and the guidelines provided by the Residential Tenancy Commissioner.   Below is an extract from the Residential Tenancy Commissioner's guidelines around wear and tear.   Reasonable wear and tear A tenant is…

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Preventing & Treating Mould

Preventing & Treating Mould

Posted by Michelle

The most common complaint over the winter months in Property Management is the build up of condensation and mould. This issue is not limited to older homes, it is a wide spread issue that needs to be managed by both the owner and the tenant. Moulds are natural organisms in the environment but can become a problem when excessive moisture accumulates indoors causing mould growth to occur. Mould growth may become excessive if the moisture problem remains undiscovered or unaddressed.

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Landlords Exposed to Risk

Landlords Exposed to Risk

Posted by Michelle

According to research, a staggering 40 per cent of property investors have the wrong insurance. There are more than two million property investors in Australia, owning around 27 per cent of all housing stock in the country and providing homes for almost 31 per cent of the population who are renters. Yet an alarming number of landlords don’t have the right insurance. Figures from the Landlords’ Advisory Service reveal that 40 per cent of landlords do not have specialised landlord insurance. Consequently, many landlords are leaving themselves at risk financially.

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The upside to considering pets.

The upside to considering pets.

Posted by Michelle

Pets…. Aussies love them. The RSPCA estimates that 63% of households have a furry, feathered or scaly family member. But how difficult is it to rent a home when you own a pet? Chances are many landlord clients have them too. But when it comes to allowing pets into their investment properties, a lot of property owners say no to pets out of concern. The main areas of concern are with odours, noise, litigation and damage which are fair reasons to reject the pet. As a result, we see a…

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How to face your property fears head on

How to face your property fears head on

Posted by Michelle

Real estate cycles come and go, but one fact always remains true – there is no exact science to property investing. As much as we would like to believe we are able to control every part of the process, the reality is that investing in property is rarely a bump-free journey. However, you can minimise your risks, which includes having clear strategies to help you deal with unexpected situations and setbacks when they arise.

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A Merry Christmas Message from Management

A Merry Christmas Message from Management

Posted by Michelle

2016 has been another great year @home and while we are excited for the year ahead with what we have planned, we would like to take a moment reflect on what we have achieved. in 2016 we gained over 182 new Clients which is our largest growth year yet. We were awarded Property Management Office of the year at the Australian Real Estate Business Awards and Claudine Church took our BDM of the year for 2016. We are currently managing close to 750 quality rental properties across Launceston and we have an awesome team of twelve talented people taking care of them. Here are some statistics you may find interesting:

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How to choose the best Property Manager that will cost you the least.

How to choose the best Property Manager that will cost you the least.

Posted by Michelle

I have been faced with the fee objection once or twice (probably thousands of times) over the years. It is generally the first question most investors ask when looking for a property manager. It is understandable that investors are concerned with the outgoings, after all, the return on investment must be sustainable long term, and it needs to be an asset, not a liability. The thing is, selecting a property manager is not like comparing interest rates, where we understand that the rates are controlled by the Reserve Bank to a certain degree. We also know we can negotiate with the bank if they don’t “come to the party”. The difference is, there is a very important service behind property management. Unless you are an investor who has experienced poor property management service, it is likely that we all appear much the same. The glossy brochures, print media, video marketing and websites suggest that the service provided or promised are essentially the same. So in this case, the only decision the investor needs to make is who will offer the best deal on fees.

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Launceston Rental Market Update

Launceston Rental Market Update

Posted by Michelle

The Launceston rental market is showing positive signs of recovery with record low vacancy rates and rising market rents. Our office has consistently recorded a vacancy rate under 1% for the September Quarter with an average days on market being 18 days and the average days vacant 10 days. Our office is currently outperforming the overall market reporting on average 36 days on market. Suburbs high in demand currently; South Launceston, Newstead, Norwood, East Launceston, and Central Launceston. The demand on 2 bedroom units is still strong with the average rent for a 2 bedroom unit $250 per week. For a more modern villa unit/townhouse with garaging, up to $320 per week. 1 bedroom flats and co-joined units are fetching between $140 and $180 per week.

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