What’s Your Dream

We all remember the famous line from Pretty Woman. What’s Your Dream? It’s a common question yet, surprisingly, many people don’t have an answer

Dreams can take time and nothing happens in an instant. A five-year plan is an excellent tool in the business of real estate.

Position One have sourced information to share with you, from some of the switched on people we have had the pleasure in dealing with, to give you some ideas about thinking outside the square.

Getting that Deposit

For some, they believe they must save their money week in week out and wait until they have that magic 10% or whatever target it is that they have in their heads.

Five years is about the right target to gain a good deposit.

For some this strategy will not work.

Perhaps the deposit on your dream home is large but the deposit on the in-between home is way less.

Stepping Stones

For some, the dream home may be just a little out of their reach just at that particular moment.

This does not mean that you should just throw your hands in the air, give up and go rent somewhere.

Saving is a great idea; don’t get us wrong. But what is wrong with making your money work for you whilst you do save?

Sometimes, the only way to get where you are going is by taking the stepping stone approach.

Try these ideas on for size.

Buy Small Now for Big Returns

Why not consider buying a smaller home or unit that can house you and your family whilst you allow it to gain value?

This will give you time to put a little aside each week whilst keeping an eye on the market and trade up when it is right for you.

Split Your Money

Perhaps you are in a position to buy two small units. You could live in one for five years and rent the other out.

In that five-year period you have had someone paying one unit off for you whilst you live modestly in the other.

The capital value on these properties matures and you are able to sell one or both of them at a profit, thus giving you a leg up to your dream home.

Worst House Best Street

If you really have your heart set on a particular suburb and it is just out of your price range this is a great strategy.

You may be lucky enough to find the Handyman’s Delight for little more than land value and take the time to slowly bring your rough diamond back to its shining glory.

 

Rental Inspection Checklist to Help Avoid Rental Inspection Stress

Our Simple and Helpful Rental Inspection Checklist

If you are new to the being a tenant game, you may get a little stressed leading up to your property inspections. Even if you are an old hand at being a tenant you may feel you are being judged.

This is simply not the case.

Yes, as the appointed agent of the property owner, Position One Property  take our job very seriously and intend to ensure that the property you are living in is taken care of well.

But relax, we are not going to judge you for not doing the dishes or laundry.

We have compiled a list of things we look out for when conducting these regular inspections but also highlight how you can turn these into a positive experience for you and guarantee your ability to stay in the home long term.

Cleanliness is Key

We realise we have just told you we don’t judge your habits but it is essential to keep the home you are living in clean.

This means not letting any mildew build up in the bathroom or cooking fats to settle on the splash back or the tops of cupboards.

If the carpet or walls are soiled in any way, such as dirt, grease, red wine, et cetera, it is your responsibility to clean it promptly to avoid staining.

Keep Gardens and Grounds Trimmed and Clipped

It is essential to keep the grounds of the property neat and tidy.

Regular mowing, mulching, weeding and pruning are all essential.

Likewise, if the property possesses a pool it must be maintained in an appropriate manner.

Conduct Minor Repairs

As a rule of thumb, if there are any structural issues with the building or its grounds the property owner is responsible for its care and maintenance.

If any breakages or damage is caused by yourself it will be your responsibility to repair or replace it. As an example:

• If you put a hole in the wall when moving your furniture around or you accidentally back your car over the clothes line, this will be your responsibility.

• If you discover the retaining wall or fence is becoming dilapidated or riddled with white ants. This is the landlord’s responsibility.

Take Advantage of the Opportunity

If you believe there are issues the landlord needs to address, now is the time to speak up whilst you have someone on site to inspect.

Also, if you are dreaming of something extra such as asking for new carpets, repainting a bedroom or perhaps even installing an air conditioner, this is a good time to broach the subject.

We trust you’ve found this rental inspection checklist helpful – if you’d like further guidance or have comments, questions or suggestions, please call on 07 3843 4511.

Professional Property Management

It really does take a professional to properly manage a rental property.

Many times, we have been approached by property owners (Landlords) and been told they are not happy with the performance of their investment.

All too often this can lead to financial dissatisfaction and a reluctance to continue investing in property and reap the benefits it can reward investors with.  At Position One Property we are dedicated to maximising real estate asset value for our clients and so offer expert guidance to ensure this is not your experience.

Financial Pitfalls for the Property Investor to Avoid

Fair Rent is absolutely essential. If you place your rent too high for the market you will have an empty home instead of a profitable investment. If you place the rent too low, you do your investment a disservice.

We pride ourselves on knowing the rental market inside and out and are able to offer you a thoroughly researched estimate of what you could expect for your property.

Prompt Maintenance and Repair work should be carried out, not only to make certain the tenant’s rights are well protected and respected but to also to guarantee that the integrity of a property owner’s investment is maintained.

We have After Hours procedures in place to ensure no tenant or property owner is ever left inconvenienced.

Rental Arrears is a property owner’s worst fear. We invite all of our tenants and prospective tenants to participate in a rigorous assessment to ensure they are able to pay their rent on time every time.

Should the rent ever be in arrears we promptly contact the tenant to see if there are any issues that need resolving and move on any information immediately.

We do of course take every precaution and action necessary to avoid this but advise that it is always wise to maintain current insurance to cover any losses or damage.

Under or No Insurance can be the downfall of a good investment. It is so essential to maintain appropriate insurance when renting a property that we insist upon it in order to ensure you have the best possible outcome whatever the scenario.

The last (but not least) tip we have to offer is to not manage the property yourself.

This may seem like the ideal situation but unless you are intending to make your tenant your friend you could invite more than you bargained for into the mix.

Maintaining a professional distance is not only beneficial but necessary in any business transaction.

As we have sound and up-to-date knowledge of legislative requirements and the ability to act quickly in case of an issue arising, we take all the care out of your investment and leave you time to pursue what you do best and spend your time how you wish.

Behind Every Great Agent is a Great Landlord

Professional property management can be a challenging experience.

Here at Position One Property we understand it is imperative to offer the best service to a tenant and not have them feeling like they cannot live without the ever present landlord looming over the back fence to ensure everything is tickity boo.

Likewise, a good tenant will offer peace of mind to a property owner by paying their rent on time, maintaining the yard and property correctly, reporting any maintenance and repair issues immediately, being honest about damage they have caused and, of course, abiding by the Tenancy Agreement conditions.

What Does a Good Landlord Bring to the Table?

A good landlord should provide a property that is fit for habitation.. This includes ensuring that all appliances including larger ones such as hot water systems are all in good working order and present well.

It is up to the property owner to set the tone for the tenancy so prior to a tenant taking possession of a home, unit or flat, the lawns will be neat and tidy as will the premises themselves.

If the property in question has experienced past issues, for example mould in the bathroom ceiling or termites in the retaining wall. This should be revealed to the tenants so that they can monitor and report it, if it returns, so that it can be dealt with quickly.

Flexibility is also a key factor. From time to time we all experience a low in life. Having an understanding landlord can really take a load off a stressed mind. Being honest with each other is important in a business transaction such as a tenancy.

A property owner will always maintain a respectful distance whilst making sure they are available should an emergency arise.

Great Property Management Skills

It is no easy job to walk the tightrope between tenant and landlord without the good wishes and trust of the property owner and tenant alike.

Often, a property owner cannot be available 24/7 like we can and so they ask that we manage and maintain the property and its tenancy on their behalf.

We, as such, become the appointed landlord, and can offer second to none service to all our tenants.

Why not visit with us at https://www.positionone.com.au to learn more about the advantages of letting Position One Property be your appointed agent.

The What, Why, How and When for First Time Renters

When you decide to spread your wings and fly the coop to create your own little nest it can be an exciting, if not slightly daunting prospect.

The key to getting through it all with ease is to educate yourself about the process.

Please see below for some basic tips to get you “in the know”.

Property Viewings

In this day and age you have the convenience of being able to attend an open viewing style arrangement.

This is advantageous to both the agent who is managing the property and any person who wishes to inspect. Instead of an agent having to possibly inspect a property with a dozen different prospects at a dozen different times, a suitable time is selected and all the prospects may visit during that period.

Applications

When you inspect a property that feels right for you, you are required to complete an application for it. This application will require you to supply your full details such as name, date of birth, employment both current and previous, as well as your current and past addresses and any referees you nominate.

Reliable property management professionals, as we are at Position One Property, then conduct appropriate investigations and confirmations of references, amongst others, to ascertain which applicant best suits the requirements of the property owner.

Agreements

A Tenancy Agreement is a legal document outlining details of the property owner, the tenant, the address, agreed rental, bond, and term, along with any other special conditions that may apply.

Condition Reports and Inspections

We carry out a condition report prior to a tenant taking possession of a property and then again when the tenant vacates. This report is to establish the general condition of the property prior to commencement of a lease and will also identify the condition of any contents that may form part of the agreement.

This report must be signed as agreed upon by all parties to ensure there are no disputes.

During the term of the lease we will also inspect the property to ensure that it is being properly cared for and to identify any possible maintenance or repair issues that need attention.

You may find some of the links at our page https://www.positionone.com.au/useful-links/ particularly helpful to read through.

We hope this has shed a bright sparkling light into the realm of renting. Should you wish to seek more in depth information regarding renting a property, or our services in general, please do not hesitate to contact us on info@positionone.com.au .

 

Breaking Up is Hard to Do

This may be true in a serious committed relationship, but when it comes to going separate ways from your housemate it should not be hard to do.

Not everybody gets it right when they are trying to find people to see if they are a suitable fit into the household.

As Position One Property  are the best property management has to offer, we should know. We have seen a few odd flatmate combinations in our time.

So what can you do to let someone down easily without letting the landlord down as well?

These tips are to help you out of a bind should you find yourself in this situation. Read more

After Position Comes Presentation

We have all heard the term “Position, Position, Position!!” when it comes to Real Estate. Whilst this can be a big factor for a prospective tenant or buyer, there are also other things to consider.

When you decide to rent or sell your home you really need to remove yourself from the picture and look at it through the eyes of someone looking to rent or buy it.

Presentation is absolutely the key to achieving the best possible price or gaining the best possible tenant says Karen Herbert, principal of Position One Property. We have a reputation of being one of Brisbane’s astute Property Management and Sales office, which confirms our skills and expertise in this area. Read more

Property Presentation a Breeze with These Great Tips

Renting your home or investment property attracts the same demands as selling it. By this we mean presentation is the key.

If you wish to attract the maximum rent possible it is important to put your best foot forward and ensure your property is shown to its full advantage.

Prospective tenants still look for the same benefits a prospective buyer would. We’ve outlined some tips to help you create the perfect property to ensure you get the perfect tenant.  Read more

Rent Vs. Buy Debate Ignores Valid Reasons For Renting

The rent vs. buy debate has raged on for many years with supporters and detractors on both sides of the fence. The same arguments are made each time the subject comes up. Being tied down in one place and the extra costs associated with home ownership are two of the reasons put forward against buying a home. Paying rent to feather someone else’s nest and having to get permission for everything are equally valid reasons against renting.  Read more

Purchasing Investment Property Only the Beginning

So many people put a lot of time and effort into the process of purchasing an investment property, particularly those who are new to the game. They do all the reading on choosing the best place and securing the best mortgage.

They research the areas where they are considering buying; they weigh up all the pros and cons between each possible purchase before going ahead and they invest all their hard earned savings and sign the dotted line for more debt.

Then for some, the astute investigation seems to stop here. When it comes to renting real estate that investors have purchased, some are left disheartened with the practice of investment properties. Read more