The age old question ‘should I use a property management company?’ should always be considered from investor to investor, because there isn’t one answer to suit you all – we wish there was!
Good property managers often go above and beyond to help you manage your investment property, and you pay them well to do so! But what signs do you need to watch for? As a property owner, do you even know what you should be expecting from your property manager?
If you haven’t been feeling the love from your property manager for a while, or you’re just looking to save money (aren’t we all?!) by cutting down as many fees as possible, we’re here to talk you through how to give them the flick.
Heard the news? There’s new short-term renting laws in NSW coming soon that will affect a lot of people. Owners, tenants, hosts, guests and even online platforms like Airbnb and potentially even Cubbi are all in the firing line.
What’s the worst part about termites? It’s the fact that more often than not, you only realise you’ve been living alongside them after they’ve infested your house and turned the framework to mulch! Termites cause more damage to homes in Australia than fires, floods and storms combined and unlike these natural disasters, termite damage isn’t always covered by household insurance.
It’s that time of year again, the financial year has only days left and it’s time to think tax! You have an investment property, so now is the time to start planning your deductions, if you haven’t already done so. The easiest way to maximise your return? Make a list for your accountant with everything itemised and categorised to make tax time fuss free.
A great question! We’ve sought out the expertise of a financial advisor to give you all an overview of how you can potentially use your super to invest in rental property. Through a self managed super fund (SMSF) it’s a real possibility for many Australians looking to invest in property, whether it’s your first, or you’re adding to your portfolio. We sat down with Paul Zobonos from Manifest Financial Wealth to talk us through it.
Routine inspections take time. Sending emails, writing up reports…all that jazz.
That’s why we’ve come up with a better way to do them.
More on that in a minute.
For now, it’s a good time to just think about what your inspections are for, and how to get the most out of them. Read More
Back when I was a property manager, I started looking after a property that had been through four separate managers in just two years.
Tenants had just moved out, it was filthy and repairs were going to cost more than $1,000 to get the place back to the same condition from when the tenants moved in (according to the owner).
Usually you’d just take that money from the bond. But there was just one problem: there was no condition report detailing what the place was like at the start of the lease.
Here is a big question I get asked by landlords:
How do I fire my real estate agent?
Switching property managers happens all the time and it’s not always because you’re unhappy with the service. You might be looking for something cheaper, looking to manage it yourself or moving all your properties to one agent for consistency.
No matter the reason, switching real estate agents or property managers is actually more straightforward than you’d think. There is still a little prep involved, mostly because every management agreement is different – although many use their state’s REI (Real Estate Institute) agreement.
Even then, many agents insert clauses of their own.
I’ve broken down the switching process into some key steps below. Read More