by George Astudillo | Oct 1, 2019 | Financial, Management Systems, Presentation, Repairs and Maintenance, Tenant
Once you’ve got one, you’ll want to be sure they stay.
(From the article and interview featured in The Huffington Post Australia)
One of the challenges of property investment is being able to find the elusive ‘perfect tenant.’ It’s that ideal tenant that will ensure the financial success of your property, as well as give you peace of mind that they will take great care of your investment.
A good tenant is made up of several factors but perhaps the number one attribute is a person who always pays their rent on time.
Real estate expert and author George Astudillo told The Huffington Post Australia late rental payments is a top frustration for many landlords.
“Late payment leads to frustration and embarrassment as it makes the landlord late in paying expenses, such as a mortgage,” Astudillo said.
“Cleanliness is a major factor; an ideal tenant will take care of the property. Being lazy with household chores will speed up wear and tear. Paint needs to be dust and grime free and carpet will wear out quickly if grit and soiling are allowed to accumulate.”
“A perfect tenant is a co-operative tenant, particularly in the event of a problem. Life is unpredictable, it’s tough enough dealing with challenges without a tenant making things more difficult.”
The trick is to choose wisely when you choose a tenant and don’t take any chances. You might be tempted to take a risk on a tenant who’s willing to pay more money. However, Astudillo said if they turn out to be less than they promise to be, the cost of new carpet, repainting and repairs will quickly absorb the increase and leave you in debt.
“If a property has been vacant for a while there can be a tendency to cut corners. Don’t let the temptation cloud your judgement,” Astudillo said.
“Sometimes a tenant just seems so nice, you want to give them the benefit of the doubt. Remember nice people don’t always make good tenants.”
Once a landlord selects the right tenant, it’s wise to take steps to make sure they stay put. If you’re not careful, your tenant will leave: turn over costs a lot of money, including marketing fees, agents’ fees and possible property damage. See our blog “3 Keys to Choosing the Right Tenant”
While there are multiple reasons why tenants move – and many will be out of your control – there are some simple things you will have control over
“Looking after your tenant and the property they live in makes good business sense. The tenant is your customer, and having a happy customer is always good for business,” Astudillo said.
George Astudillo’s Landlord Checklist
Repairs
Treating repairs too casually or without care is the most common reason for creating distrust and discontent in tenants. Unless the problem is an emergency, they are at the mercy of the owner. Reasonable requests for repairs should happen quickly.
Maintenance
Allowing the property to deteriorate will change the appeal to the tenant. If the property is no longer up to the quality the tenant is prepared to pay for, they will move. Keeping your property looking its best will also mean you can keep the rent within reach of the market.
Rent reviews
Rent increases that are excessive, either too many or too much, will also make a tenant feel taken advantage of. In these situations, the tenant will start looking for better value elsewhere.
Courtesy and Respect
Tenants need to feel respected. Your attitude towards repairs, maintenance and rent reviews, as well as the tenants’ right to privacy, are simple ways to show respect.
About Us
George Astudillo is the founder of Property Quarters, an agency that values communication and great relationships with its landlords.
George now has more than 30 years in real estate, including 15 years as the owner of a national real estate franchise. He’s also an accredited auctioneer and is the author of “The Landlord Mindset”, a book with his best tips to help landlords look after their investments. His book has been quoted in the SMH, The Huffington Post and The Age.
As the founder of Property Quarters, George takes great care in looking after his landlord’s investments. Having seen it all and worked with may landlords and tenants, he’s a strong mediator and negotiator and knows how to navigate through property legislation.
George is trusted by his landlords to advise on the financial management of their investments. He’s put in place proven processes to ensure each property he looks after is managed effectively to retain its value, quality tenants and rental income.
If you’re looking for a property manager who thinks like a landlord and whose business is built on tested processes, contact us by clicking HERE.
Copyright © 2022, www.propertyquarters.com.au
by George Astudillo | Sep 2, 2019 | Management Systems, Planning, Presentation, Repairs and Maintenance, Tenant
The key to successfully attracting great tenants is to present your property to look its best.
Not only will you position your property to attract the right tenant you will also give yourself the best chance of an outstanding rental.
Most rental properties look and feel like, well, …rental properties. Yet worthy tenants are looking for a home. So, here are 7 simple areas to consider that are not only easy to do, but cost next to nothing to implement.
1. Cleanliness
This is number one in the list. It’s amazing how many rental properties often look unliveable. Just by making sure your property is clean will put you in front of most of your competition.
TIP: Windows are often overlooked and can create a fabulous first impression. For more in depth look at presentation, see our blog “Cleanliness”
2. Smells and odours
There is nothing worse than entering a property that smells stale or mouldy. Often the cause of this may be the carpet and underlay. In the case of mould, make sure the causes are found and fixed.
TIP: A freshly steam cleaned carpet needs time to dry and air out, otherwise it will deter potential tenants rather than attract them.
3. Lighting
Brightness and light create a great first impression. However not all properties have access to good natural light. You can still create an inviting atmosphere with lighting and the right globes. In most cases just having them turned on and all working is enough.
TIP: Cool white light globes create a cleaner brighter atmosphere for kitchen, bathroom and laundry while warm yellow make for good ambience in living areas.
4. Lifestyle touches
We tend to choose a home for the lifestyle it offers. Adding some lifestyle touches like flowers, fluffy towels and outdoor settings will help tenants visualise themselves living there.
TIP: The use of a couple of champagne glasses with a bottle of champagne can create an inviting setting
5. Paint & touch ups
You don’t need to paint every time a tenant vacates unless it needs it. However, touching up walls and heavy traffic areas adds freshness and a little sparkle.
TIP: Use a quality paint that will last and make sure you keep any leftovers for touch ups.
6. Kitchen
This is one area that must be spotlessly clean – ovens, stovetops, rangehoods, dishwashers and sinks are the main spots. This is an ideal area for lifestyle props.
TIP: Consider a fresh look just by replacing cupboard handles.
7. Bathroom
Like the kitchen, this area must also be spotless. Painting and re-grouting can make it look like new.
TIP: This area needs to be fresh smelling or at least odourless.
Remember your property is rarely in isolation, usually it’s in competition for the good tenants available. Beat the competition with a property that stands out and benefit with a strong rental and the peace of mind of a worthy tenant.
About Us
George Astudillo is the founder of Property Quarters, an agency that values communication and great relationships with its landlords.
George now has more than 30 years in real estate, including 15 years as the owner of a national real estate franchise. He’s also an accredited auctioneer and is the author of “The Landlord Mindset”, a book with his best tips to help landlords look after their investments. His book has been quoted in the SMH, The Huffington Post and The Age.
As the founder of Property Quarters, George takes great care in looking after his landlord’s investments. Having seen it all and worked with may landlords and tenants, he’s a strong mediator and negotiator and knows how to navigate through property legislation.
George is trusted by his landlords to advise on the financial management of their investments. He’s put in place proven processes to ensure each property he looks after is managed effectively to retain its value, quality tenants and rental income.
If you’re looking for a property manager who thinks like a landlord and whose business is built on tested processes, contact us by clicking HERE.
Copyright © 2022, www.propertyquarters.com.au
by George Astudillo | Jun 3, 2019 | Landlord mindset, Management Systems, Presentation, Tenant
More than 60 per cent of Aussies are pet owners so it’s a major concern for renters.
According to the RSPCA, Australia has the highest pet ownership in the world, with 63% of Australian households owning a pet totalling over 25 million pets. Predictably, dogs are the most common pet at 39% followed by cats at 29%.
With companionship being the chief reason for having pets, it’s no wonder we treat our pets as children.
So what happens if you own a pet and you’re renting?
If you’re planning to rent an apartment, the first challenge is the Strata by-laws which may prohibit the ownership of any pet.
After that it’s all up to the landlord.
So why do so many landlords refuse pets, and keeping in mind the law of averages, many of these landlords probably have pets of their own?
Well, it’s because pets often mean fleas, stains, odours, noise and damage. In NSW a landlord is not permitted to ask for a bond any more than the equivalent of 4 weeks rent. If a landlord allows a tenant to have a pet on the property, all they are allowed to ask is that the property be fumigated when the tenant vacates.
For a landlord there is very little upside to the risk of having a pet on the property. Or is there?
Over the next couple of years, the supply of apartments in Australia is set to increase substantially with a large proportion of these properties ending up as rentals. This will mean stronger competition for tenants. To weather the storm, landlords will need to make their properties stand out from the crowd to avoid vacancy and lower rental yield.
With so many potential tenants with pets is it possible for a landlord to consider allowing pets as their point of difference? And if so, how do you make a property pet friendly?
These are the main areas that need to be thought through,
- Floor surfaces – Carpets can absorb odours and become stained, timber floors can scratch easily and stone can be too porous without an effective sealer. Consider vinyl as its warm underfoot and easily cleaned.
- Paint needs to be durable and easy to clean. Choose a quality name brand as they tend to last longer between repaints.
- Ventilation is essential. If pets are left inside for long periods of time odours can build up.
- Curtains can be tricky particularly with cats, blinds can make better sense
- Outdoor areas need to be secure and easy to maintain.
- Regular inspections are essential. At least twice a year inspect the property for wear and tear and for damage. It’s not only good practise for every property but super important with pets.
- Which pet – The style of pet is also crucial. A large dog in a small unit is asking for trouble. Although there are many families in this situation handling it well, as an investor it raises the risk quite substantially. Cats are generally good house pets, they sleep most of the day and are usually very clean, although some breeds can be trouble – too much energy.
- Rental Bond – Western Australia is the only state where a landlord can ask for a pet bond up to $260.00.
- Landlord Insurance is another area that needs to be checked as most policies do not cover for damage caused by pets.
- Lease terms – You can include a special condition in the tenancy agreement that the property be steam cleaned and fumigated when the tenant leaves if you have allowed the tenant to keep a pet.
- Anti-discrimination – You are not allowed to exclude a tenant whose pet is trained to assist with a disability, such as a guide dog.
- References – Be very thorough with references. Make sure you are comfortable that the character of the tenant is in keeping with keeping having a pet in your property. Better be safe than sorry.
Copyright © 2016, www.propertyquarters.com.au
by George Astudillo | Mar 5, 2018 | Presentation
Get this right and your property goes to the top of the list.
A clean property will always stand out.
It’s amazing the number of landlords with vacant properties looking for tenants, that allow their property to be presented in a dirty condition, even top end properties.
Property presentation is not just about looks to attract the right tenant; it also creates expectations.
The ‘Broken Windows Theory’, was the guiding principle behind the ‘zero tolerance’ clean-up of New York City in the 1980’s. It proposes that a building with broken windows is more likely to be vandalised further if left unrepaired because it creates the impression of apathy. Fixing the first broken window can prevent future acts of vandalism. Experiments with graffiti prove the same conclusion, left unattended it will escalate. However, if removed immediately it actually prevents further attacks.
This principle also applies to rental properties. A property that looks dirty and uncared for implies the landlord is apathetic about the condition of their property. A tenant that interprets a dirty property in this way, is likely to become indifferent as well.
If they are in fact house proud they tend to start the tenancy feeling resentful and not ‘on side’.
Property presentation sets the standard and expectations of how the property is to be treated. So if you do it right, not only will you attract the best kind of tenant but you’ll set them up on the right attitude. It is also the best value property makeover your money can buy. For more on property presentation see our blog “7 Easy Ways to Present Your Property to Attract Great Tenants”
Presenting your new tenant with a spotless property starts the tenancy on the right path, now it’s up to the tenant to keep the property clean and tidy. At least twice a year schedule a routine inspection to make sure lack of regular cleaning isn’t accelerating wear and tear on your property.
When was the last time your property was inspected for maintenance issues and cleanliness?
Download our free Cleanliness Checklist Here
About Us
George Astudillo is the founder of Property Quarters, an agency that values communication and great relationships with its landlords.
George now has more than 30 years in real estate, including 15 years as the owner of a national real estate franchise. He’s also an accredited auctioneer and is the author of “The Landlord Mindset”, a book with his best tips to help landlords look after their investments. His book has been quoted in the SMH, The Huffington Post and The Age.
As the founder of Property Quarters, George takes great care in looking after his landlord’s investments. Having seen it all and worked with may landlords and tenants, he’s a strong mediator and negotiator and knows how to navigate through property legislation.
George is trusted by his landlords to advise on the financial management of their investments. He’s put in place proven processes to ensure each property he looks after is managed effectively to retain its value, quality tenants and rental income.
If you’re looking for a property manager who thinks like a landlord and whose business is built on tested processes, contact us by clicking HERE.
Copyright © 2022, www.propertyquarters.com.au
by George Astudillo | Apr 3, 2017 | Management Systems, Planning, Presentation, Repairs and Maintenance, Tenant
With winter now upon us, it is important to ensure your investment property is prepared for the change in weather.
The number one challenge in winter is mould.
More and more research is becoming available on the health dangers posed by mould, though it is still a grey area in regards to rental properties.
There are basically four ways that mould exists in properties:
Lifestyle
Cooking, showers and drying clothes indoors are the main ways that tenants contribute to the build-up of excessive moisture inside a property. Without adequate ventilation, the excess moisture will result in condensation and eventually mould will form. The best and cheapest remedy is ventilation – opening windows or providing airways to let the steam and condensation escape.
Repairs and maintenance
Mould can also be caused by a lack of maintenance, or repairs that have not been carried out quickly enough. For example, if a blocked gutter spills water onto walls and inside wall cavities, this would be a maintenance issue. If the gutters need replacing, it would be a repair issue.
It is the landlord’s responsibility to ensure that the property is maintained correctly and that repairs are carried out in a timely manner to prevent mould occurring.
Design of the property
Sometimes it’s the design of a property – the way it is sited or built – that may cause mould to become a problem. Some south-facing walls rarely see any sunshine and will remain damp for much longer after rainfalls. In persistent wet weather, walls may not get a chance to dry out. Additionally, there will be areas of the house such as basements that are more prone to condensation.
Climate
Tropical zones where high temperatures are combined with high humidity and/or rainfall, such as Cairns, are more prone to mould growth.
Given that there is little one can do to change the structure of a property, it becomes the tenant’s responsibility to make sure there is adequate ventilation to prevent the build-up of mould.
Mould can be destructive to both the property and its fittings. By making it easier for the tenant to manage and prevent mould build up, you are also looking after your own interests.
Tips to counter mould:
- Have the kitchen exhaust fan and clothes dryer ducted to the outside wherever possible to help ventilate rather than recirculate.
- In bathrooms, choose an exhaust fan activated by the light switch to control steam.
- Regular cleaning is necessary in bathrooms, kitchens and laundries particularly around tile grout and silicon.
- Make sure showers are properly water-proofed to meet the National Construction Code standards so as to prevent water seeping through walls. This is very common in older properties. Waterproof membranes don’t last forever and are likely to break down in five to ten years.
- Under-house ventilation systems can reduce moisture collecting under floors. They can be inexpensive and automatic, timed to self-activate throughout the day.
- Use mould-inhibiting paints to reduce the effects of condensation.
- In wet areas, use paints with a higher gloss level and avoid a matt or flat finish.
- Control damp coming from outside by checking for leaks in roofs, gutters and downpipes.
- Install a gutter-guard system to prevent leaves causing blockages.
- Consider window security that enables some windows to be left slightly open to provide ventilation.
Winter is coming, is your property ready?
For more handy tips on preparing your property for winter see our blog “Winter is Coming- A Rental Property Checklist”
About Us
George Astudillo is the founder of Property Quarters, an agency that values communication and great relationships with its landlords.
George now has more than 30 years in real estate, including 15 years as the owner of a national real estate franchise. He’s also an accredited auctioneer and is the author of “The Landlord Mindset”, a book with his best tips to help landlords look after their investments. His book has been quoted in the SMH, The Huffington Post and The Age.
As the founder of Property Quarters, George takes great care in looking after his landlord’s investments. Having seen it all and worked with may landlords and tenants, he’s a strong mediator and negotiator and knows how to navigate through property legislation.
George is trusted by his landlords to advise on the financial management of their investments. He’s put in place proven processes to ensure each property he looks after is managed effectively to retain its value, quality tenants and rental income.
If you’re looking for a property manager who thinks like a landlord and whose business is built on tested processes, contact us by clicking HERE.
Copyright © 2022, www.propertyquarters.com.au
by George Astudillo | Jul 25, 2016 | Presentation, Tenant
There are rules you need to follow if you want to attract the ideal tenants.
One of the major challenges for any property owner is attracting tenants who actually want to live in your house or apartment. It’s vital to have a positive first impression if you want to lease your property at the top rental dollar, as well as attract the ideal tenants.
“The problem with most rental properties is that they look and smell like rental properties.” Real estate expert George Astudillo told The Huffington Post Australia it was worth putting an effort in to attract the best tenant.
Read the full Huffington Post Australia interview HERE or take a look at our blog “7 easy ways to Present Your Property to Attract Great Tenants”
About Us
George Astudillo is the founder of Property Quarters, an agency that values communication and great relationships with its landlords.
George now has more than 30 years in real estate, including 15 years as the owner of a national real estate franchise. He’s also an accredited auctioneer and is the author of “The Landlord Mindset”, a book with his best tips to help landlords look after their investments. His book has been quoted in the SMH, The Huffington Post and The Age.
As the founder of Property Quarters, George takes great care in looking after his landlord’s investments. Having seen it all and worked with may landlords and tenants, he’s a strong mediator and negotiator and knows how to navigate through property legislation.
George is trusted by his landlords to advise on the financial management of their investments. He’s put in place proven processes to ensure each property he looks after is managed effectively to retain its value, quality tenants and rental income.
If you’re looking for a property manager who thinks like a landlord and whose business is built on tested processes, contact us by clicking HERE.
Copyright © 2022, www.propertyquarters.com.au
