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Choosing the right investment property is only part of the equation when you’re trying to build your wealth. Managing that property is the flip side of that coin and it really is a whole other ball game. As a landlord, you will need to keep up-to-date on maintenance, financials and the real estate market in…
Being a good landlord goes hand-in-hand with having a successful property occupied by reliable tenants. That makes it all the more unfortunate when some investors make simple mistakes, which can have huge repercussions on the quality of their property. There are a slew of mistakes that landlords routinely make, and while many of them can…
I once knew of a young tenant who was the epitome of an A-grade tenant. He paid his rent on time, rarely asked for any repairs or maintenance, kept the house in good condition and was overall very pleasant to deal with. Things continued in this manner for several years, until one day, it slowly…
When carrying out final inspections with a tenant to determine the final condition of the property and bond refund, we must compare the condition of the property at the commencement of the tenancy to the end of the tenancy and allow for “fair wear and tear”. The definition of “fair wear and tear” is something…
Want to know what’s going on in the rental markets around Australia? Just as the property sales markets around Australia are fragmented, so are the rental markets as illustrated by the latest leasing data released by Rent.com.au which shows the shift in Australian median rental property prices (both metro and regional) and rental affordability. Here’s what they…
While many investors spend a large amount of time and effort carefully researching the property markets and then finding the top investment, they ignore the role that a professional property manager can play in preserving their property’s capital value and maximising its income. With our property markets growing strongly and no shortage of tenants, many…
Tenants and landlords need each other, but that doesn’t mean the relationship is always cordial. Sometimes this partnership is divided by the proverbial wedge due to unavoidable circumstances, but it can also be the actions and attitudes of the people involved that create disharmony. What are some of the ‘lemons’ that can turn a tenant-landlord…
Obviously we can’t be property investors without tenants, they help pay our mortgage. So while the quality of your investment property is important, so is the quality of a tenant who occupies it. By the way, one of the problems with allowing the presentation of your property to decline is so does the qualifications of…
Like with anything, to be successful in property investment you have to have a strategy – but how do you know which strategy to apply? This week watch Michael discuss the best strategy he believes should be used in property investment. This week’s question: Some people say you should specialise but I’ve read that you…
Foreign owners of Victorian property will be slugged with an annual fee if their property is left vacant for six months or more in a calendar year. The Victorian Government’s vacant residential property tax (VRPT) which will commence on January 1st 2018 will apply annually at a rate of 1 per cent of the property’s capital improved value,…
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