Getting the Best Price for your Property

When it comes to selling your property, you are bound to get a lot of advice on the best way to go about this. Some people will advise you to sell the property yourself without an agent others will say that the best way to offer your property for sale is through an estate agent. At the end of the day, you do need to go with the option that suits you best and only you can decide which option that will be. In any event, whether you use a real estate agent to sell your property or not, you will need to do some basic things in order to get the best price possible. Read more

Keeping Pets in a Rental Property

Renting someone else’s home is not just a matter of looking at it and saying, “Yes, I like it, I will take it,” and then promptly moving in. There is a lot more involved before that part even happens. Once you have found the premises that suits your purposes, you have to approach the landlord or the rental agency property management that is handling it for the owner and then be prepared to truthfully answer questions about previous tenancies you may have had. Then you must be assessed by owner or management as to your suitability as a tenant based on financial ability to pay on time and in full.

It is important when you approach whoever is in charge of the rental premises that you present yourself in a clean and neat order. First impressions are always important and are usually lasting, so if you go into an agency looking scruffy and dirty, don’t be surprised to find you are not viewed favourably as a prospective tenant. If you have had problems in previous tenancies be truthful about it, as background searches will show it up anyway and being honest about it will put the problem in a more favourable light. Oh, and did I mention pets? If you are wishing to have pets when you are renting Brisbane real estate, you must mention this at the outset and not just take it for granted it will be allowed. Read more

Moving Out Tips that Every Tenant Needs to Know

When renting a property from another individual or property management company it is important to keep in mind that when vacating you need to make sure the property is in the same condition it was when you first moved in. It is a good idea to keep a few moving tips in mind when vacating a property.

The first thing you should do is check with the Brisbane real estate company or professional that helped you locate this property to ensure that there are no underwritten requirements as a part of your contract that need to be fulfilled before vacating. Then, once you have removed all your belongings from inside the home or apartment, you want to go through each and every room and ensure that it is clean, this includes the appliances and furniture that are the property of the owner. Sweep and mop all floors, vacuum all carpets, dust and clean even in the areas that you never have cleaned in before. Read more

Negative Gearing not for the Cash Strapped

Negative gearing is a strategy that is used to stimulate the property market, usually in times when the economy is struggling and the government of the day is looking for ways to give it a kick-start. It has the effect of allowing any losses on an investment property to be a tax deduction, and for that reason alone, for people on the top tax scale, it has been very attractive. Essentially, negative gearing encourages investors to buy rental properties with little of their own money, and borrowing most, if not all, of the funds, usually in the form of a mortgage to purchase the rental property.

To the unwary, this sounds too good to be true, and for some people, it is. The fundamental issue in any negative gearing situation is that the tax benefit only happens if a loss is made on the total net result. For investors who are able to absorb that loss, there is no pain. However, as with anything in Brisbane real estate, caution should always come first, and only after understanding all the facts should the first time investor consider negative gearing. Read more

What to do before Renting

The first thing to do before you rent a home is to ensure the location is convenient for you by way of transport, schools and shopping. When you have settled on a suitable area and premises, make your way to the agency which has it listed. Once you express an interest you will be given a key to inspect the inside of the home to ensure that it really is suitable for your needs. If you re happy with its condition and the rental fee charged, then it is time to check out the lease.

Before signing, ensure you read it carefully and are aware of any extra fees that may be listed to be paid by you. These could include yard maintenance if the owner prefers to have it taken care of, and also water usage charges. If you are not happy with something and the owner is not willing to negotiate then simply do not sign. If you do choose to go ahead with the rental and sign the lease, you will be required to pay a bond and at least two weeks rent ahead. Ensure you obtain a receipt for both transactions and that the bond has been lodged within the specified time frame. They must be given to you immediately by the landlord or his property managers Brisbane. You will then have a receipt from the Rental Bond Authority mailed to you as well in acknowledgement of the bond having been lodged.

Having paid the bond, along with the keys you will be given a Condition Report form by the landlord or his Brisbane property managers on which you should list any damages or defects you notice before you actually move in. You then return it to the agency which will provide you with a copy. Be thorough in your search so that you won’t be charged for something you are not responsible for and keep your copy safe for future reference. Also be aware of your obligations to the landlord during your tenancy and ensure the premises are always clean and free of vermin and the outdoors neat and well maintained. As well as your obligations you should be clearly aware of your rights as well.

Your landlord is required by law to list extra fees on the lease before signing, to have working smoke alarms installed, and to give adequate notice when he intends to enter the property when it is necessary. One example of necessary entry is when he has to make repairs on defective fixtures within the home such as hot water systems, stoves and fans. You must allow regular property checks to be carried out by the landlord or his management. If all obligations are carried out there will be no problems during the tenancy.

Insuring Your Investment Home Gives Peace of Mind

Many people toy with the idea of buying an investment property. If the property is wisely chosen it can become a very valuable asset. With proper management and good tenants the property has the potential to earn you a steady income, with minimal fuss after the initial setup. Of course becoming a successful landlord means being aware of the pitfalls and having doing some research, and of course protecting your investment and the income it provides. One of the easiest ways to do this is through Landlord Insurance. So what is it and why is it necessary?

Brisbane Property Managers can assist you to sort through the pros and cons of insurances. But the majority will encourage you to have landlord insurance. This insurance is designed to protect investors in a number of situations that are unique to the investment home owner. Although most people have positive experiences, there are things that can go wrong and without insurance, can cost the landlord lots of dollars. Landlord insurance can cover loss of income due to absconding tenants, malicious damage to the property, rent loss due to the property becoming uninhabitable from storm or other damage, and can even cover legal costs in the event of debt recovery or damages or other legal action.

When choosing the right insurance, you may have a preferred insurer. If not it can help to talk to a property management Brisbane agent. They will be able to help you by referring you to some companies they, or other clients, deal through. Some insurance companies will even cover you for tax audits, give building insurance and cover you for short term stays in the event that you invest in a holiday home, which you let out for shorter periods to a variety of holiday makers. It is also important to make sure you are covered for legal liability in the event of injury or death of a tenant, or visitor to the property. Costs of this nature can be very damaging.

As with any insurance, you may never need it, but not having it could cost you lots in the event that your property gets wilfully damaged, tenants disappear or even in the event a sole tenancy client passes away. When you consider the considerable money you have invested in your rental property, it makes very sound sense to insure it to insure it for any unforseen occurrences. Once you know you are adequately covered and prepared for any scenario, you can sit back and enjoy all the benefits being a landlord can bring!