How to change property managers.
Want to change property managers and not sure how to go about it… The good news is it is easy. Here are the 5 steps to make it happen. Find a new property manager that is right for you. Agree the service fees and scope. Sign the property management and leasing agreement. Complete the owners instruction…Read More→
Property management fees and letting fees?
Everything you want to know about property management fees and letting fees. How much are property management fees and what is included? How much are letting fees? How much is advertising costs and what’s included? Are professional photos really necessary? What is an account service fee? Are the fees negotiable? When do you actually pay…Read More→
Housing stress made worse by super changes
The current challenges of housing stress should be front and centre for all government policy, but I am not sure the recent changes to superannuation appreciate the knock on effect. Property is a long-term investment and superannuation is a long-term saving plan. So, property investment and superannuation are a beautiful match. It is no surprise…Read More→
Interest rates rise on apartments – What is the impact?
We all know interest rate rises impact the apartment market but what else is at play? When economists refer to the Reserve Bank (RBA) slowing the economy, you will hear them say, “They only have one lever to pull”. This refers to the RBA’s influence on economic policy being limited to setting the interest rate…Read More→
Will rent keep rising?
How far and for how long will rents rise? The rental market was tipped to be red hot in 2023. January has been frenetic with queues of people at rental inspections. Existing renters are seeing increases of anywhere from $20 -$90 per week. Unsolicited offers above asking rents are also occurring. The press is awash…Read More→
The apartment market in 2023.
What will happen to the apartment market in 2023? Well the rental market will almost certainly continue to rise throughout the year. The sales market has too many economic and political factors at play to make any meaningful forecast. Which is another way of saying “I’m not sure”. That said the last few years have seen…Read More→
Cashback deals for new loans
Cash back deals for new loans is not new. Much has been written (including here) about the looming mortgage cliff. RateCity report around 100 billion dollars of fixed rate loans at historically low interest rates, expire during the second half of 2023. With many loans already expiring, it is creating a highly competitive mortgage market,…Read More→
Charging EVs in apartments?
Can apartment residents own and charge an electronic vehicle (EV) at home? Unfortunately, for most apartment residents the answer is no. At least not in the building or not easily. Owning an EV while living in an apartment is a conundrum. Some people have resorted to running an extension lead from their apartment to the…Read More→
What is affordable housing?
We all understand what social housing is. But affordable housing means different things to different people. When Dr Jim Charmers announced the National Housing Accord in last night’s federal budget, he talked about affordable housing. In that context, he is talking about rental accommodation (both private and goverment owned) with varying degrees of qualification and…Read More→
Housing shortage in Queensland
The housing shortage in Queensland is being reviewed by the State Government and non-government stakeholders who came together for a Housing Summit in October 2022. It addressed the acute shortage and rising cost of housing across the state and especially in South East Queensland which has attracted 90% of the 750,000 people that have migrated…Read More→
First home buyer schemes could be better.
First home buyers seem like a good idea but there are some underlying issues. Let’s say you’re a first home buyer in NSW and the “First Home Buyer Choice” programme has just com in. That means (from 16th Jan 2023), when you buy your first home (up to $1.5m), you get to choose between paying…Read More→
How will the Melbourne market adjust to rising rents?
What impact is the tightening rental market and rising rents having on renters attitudes? In 2021, the Melbourne apartment rental market became very tenant friendly. The market rent fell and there were large vacancies. Renters had the upper hand and were safe in the knowledge, they would almost always be offered a further term which created…Read More→