OC rules are changing. Here is what you need to know
Do you sit on an owners corporation (OC) committee? … or maybe you have done so in the past. (OCs were formerly known as a body corporates in Vic) OC committees can run very smoothly and manage the operations of an apartment building effectively or they can be totally dysfunctional and break down requiring lawyers…Read More→
Is it a good or bad idea to borrow in your SMSF?
You may recall about a year ago (at the start of Covid), CBA produced a risk analysis with a worst case forecast of a fall in Australian houses prices of 30%. This week the same bank forecast house prices to rise by 16% in the next 2 years across Australia. That is a big shift! It just shows how…Read More→
Goodbye to the COVID Lease Rules 👋
At the risk of stirring memories you have tried desperately to bury, please cast your mind back to 24th April 2020 when Victoria was in Lockdown #1 and the Covid 19 Omnibus (Emergency Measures) Act was introduced which temporarily amended the Residential Tenancies Act. From that day to this (and until the end of March 2021)…Read More→
ACP Cladding in Melbourne: Here’s What You Need to Know
A bit like the corona virus, some damaging and unwanted issues seem to hang around far too long. Aluminium composite panels (ACP), otherwise known as combustible cladding is one such example. This week the Victorian Minister for Planning, Mr Richard Wynne announced this form of building cladding would be banned for all new muliti-storey (over 2 stories)…Read More→
2021 Awaits…
Happy New Year for either the 1st Jan or 12th Feb which is the Chinese New Year and 2021 is the year of the Ox. Oxes are known for having an honest nature, and are diligent, dependabile, strong and determined…. I think we all needed most of those qualities last year but they are still very welcome. 😁 There are…Read More→
What a difference a couple of weeks make.
Well what a difference a week (or two) makes. Victorians are celebrating 13 straight days of zero Covid cases, a steady easing of restrictions, a more engaging global political environment, and even Melbourne weather is warming up. 🌞 This has created an injection of confidence into our lives. Every economic or finance news report this week is…Read More→
Build to Rent is great for tenants
If you follow the property news pages you will read stories about Build to Rent (BTR). For decades in Australia apartment buildings have been Built to Sell (BTS) which is where all the apartments are sold by the developer to individuals but with BTR the developer owns and operates the entire apartment building. The change in market…Read More→
Furnished or unfurnished in Covid
Furnished apartments normally attract a premium rent for obvious reasons. They are the natural habitat for people needing a shorter term stay of 3-12 months while working interstate, travelling or transitioning homes. During Covid and travel restrictions (particularly in Melbourne) a couple of things have changed. Firstly there has been a lot of furnished apartments put on to…Read More→
Mortgage rules hit older borrowers
By James Kirby Wealth Editor The Australian At the stroke of a pen it’s just become a lot harder for older Australians to get a property loan. National Australia Bank has led a new change — expected to be repeated across the banking sector — that requires borrowers to nominate their retirement date and an…Read More→
Should I sell my apartment? – Head vs Heart
The debate about selling or holding an apartment is a Heavy Weight Title Fight between traditional rivals your “Head” and your “Heart”. Your “Head” says hold and is the logical and rational side with an enviable record in these debates. However your “Heart” says sell and is no push over when it comes to making…Read More→
How to lease your apartment in a tough market
If you own an apartment that is currently vacant and your agent is searching for a tenant, you may find this extremely helpful because you need to know how to get your apartment noticed by prospective tenants when the market is awash with other apartments for lease. I am going to give you the 12…Read More→
Apartment rents are falling. Where? How much? How long?
Although restrictions have started to ease, the impact of the coronavirus has hit the residential rental market hard and rents have already fallen by around 5% – 10%. But what areas are hardest hit, how far will they fall and how long will it take before they climb back up? It is not just people…Read More→