7 New Years Resolutions for your Investment Property


With 2019 fast approaching now is the time to be thinking of the goals you’d like to achieve for the management of your investment property, to ensure that your investment will continue to provide a sustainable, consistent and trouble free income for years to come.

An investment property requires advanced planning and follow through. Creating a list of New Year’s resolutions before the start of the new year can ensure that you have confidence, a systemised approach and the right mindset to grow your asset.

Here is a checklist for you to get started when preparing for a successful 2019.

1. Insurance

Landlord insurance is your investment property safety net. You should be asking yourself ‘Do I have the appropriate cover?’ and ‘Am I making the most out of what I pay for?’. There are also different types of cover depending on whether you have an agent or manage the property yourself. Take the time to review what you have. For more on Landlord Insurance see our previous blog ‘Landlord Insurance- Manage Your Risk’.

2. Smoke Alarms

As a landlord you are legally required to have met the obligations for the installation and maintenance of smoke alarms in your property. Many smoke alarm companies will offer unlimited servicing programs to provide peace of mind knowing your tenants and property are protected. Make sure all your bases are covered. New reforms to the tenancies act coming next year will mean you, as the landlord, will be fully responsible to make sure smoke alarms are operational.

3. Mortgage review

Keep your investment tailored to your budget and working in your best interests by regularly reviewing your home loan. If you haven’t reviewed your current interest rate in the last few years, you may be paying too much interest. It’s easy to let the finer details of your mortgage fall by the wayside but by keeping an eye on the market you may just come across a great deal. Sign up to a comparison website or ask a mortgage broker for advice.

4. Rent review

The new reforms to legislation will mean rent increases may only be implemented once in a twelve month period. Schedule your rent review date a few months in advance to coincide with a routine inspection. At Property Quarters we conduct regular rent reviews and keep an eye on market changes to ensure your property is keeping pace. See our blog ‘Rent Reviews- 5 points to Consider’.

5. Property Maintenance

One of the most nagging of New Year’s Resolutions, but just as equally important, is appraising your property for repairs and updating. Unexpected repairs can happen at any time, don’t be caught out unprepared. Create a plan and put aside funds. Most repairs and maintenance are tax deductible, check out our ‘Landlord Resource Centre’ on our website for a quick overview of investment depreciation.

6. It’s not who you know it’s what you know!

Knowledge is power so make it a priority to become as shrewd as possible in property investment. Your carefully planned nest egg is critical to your future. It can make a real difference between struggling to make ends meet and the joy of a secure retirement- so make your investment work to its absolute potential! You can do this by brushing up on your knowledge. Our website ‘www.propertyquarters.com.au’ is packed with free information to get your landlord mindset on the right track.

7. Review of your managing agent

“Choosing a Property Manager is possibly the most important part of owning an investment property. You are relying on a professional to guide you towards financial independence; make sure you are in the right hands.”–George Astudillo.

Your managing agent should be in regular contact with you, efficient with planning, have extensive market and industry knowledge and above all they need to look after your best interests at all times. If you have any doubts about how your property is being looked after it might be time to make a change.

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.

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Copyright © 2016, www.propertyquarters.com.au

7 Tips for Spring Cleaning Your Home


Glass Cleaning

After what seemed like a long and chilly winter, Spring has finally arrived, and it feels glorious!

Along the Sydney coast we have already enjoyed days filled with clear skies and warm temperatures, perfect for inspiring a Spring clean! So now it’s time to throw open the curtains and get busy turning your home from closed in to fresh and airy.

An annual clean can seem daunting so here are seven tips to get you started.

1. Floor Coverings
With the winter months comes wind, rain and dust which means wet and muddy shoes all over your carpets. Vacuuming your carpets won’t get all the winter muck out, a steam or dry clean will give them a deeper clean and a fresh look and feel.

Give your rugs a similar treatment or at the very least a good beating, great for the rugs and your cardiovascular system (not to mention all that pent-up winter stress).

TIP: Magic erasers are great for small scuff marks on timber floors.

2. De-clutter
Don’t let your possessions overwhelm you, all you need is an open mind and an open bag. Clear all surfaces such as benches, tabletops, window ledges and bookshelves to make your rooms look bigger and more Zen like.

Create an organised approach to storage. Consider reducing the number of unused items in your wardrobes and cupboards, it can be very cathartic to let some stuff go creating more space in your life for new experiences.

TIP: Read “The Life-Changing Magic of Tidying Up: The Japanese Art od decluttering and organising” by Marie Kondo

3. Blankets and Bedding
You may ‘rest easy’ knowing your pillow cases and quilt covers are regularly changed however the pillows and quilts themselves can often be neglected. Invest in a good professional clean for quilts while some pillows types can be washed in the washing machine.

Dust mites and allergens play havoc on your senses so be sure to vacuum your mattress where they are likely to accumulate. Follow this up with a decent mattress and pillow protector and you will prolong the life of your bedding.

TIP: Don’t forget to give lounge room pillows and throws a good airing outside on a sunny day.

4. Oven
There’s nothing better on a winter night than a good lamb roast and delicious baked vegetables. However, it’s now time to see how your oven is faring? Cleaning your oven doesn’t have to be a nightmare and using bicarb soda and vinegar is both gentle on the environment and very effective.

TIP: Citric acid (found in the baking section of your supermarket) is great as a safe household cleaner.

5. Furniture
Get ready for weekend entertaining, but before hosting the long-awaited Spring barbeque you’ll want to freshen up your patio/entertaining area. Tackle the barbeque grill first as this is the hardest.

Rid your seat cushions of any built-up dust and dirt, better yet you may want to invest in new vibrant cushions that will give your table setting an instant lift. Hose off tables and chairs of any pesky cobwebs and settled dust, likewise with any outdoor umbrellas that have been folded for a while.

TIP: Solar powered outdoor lights and lamps make for a warm inviting atmosphere at night.

6. Gardens
Spring is the perfect time to bask outside on those warm sunny days. But first, a garden spring clean is essential to make your outdoor area look and feel relaxing.

Decide how much to prune to create space and to encourage flowering and fruiting. For larger plants, be careful not to prune much needed shade branches as the smaller plants as well as yourself need protection from the sun. Rake any leaves or debris away from the garden bed in order to turn soil and easily spot unwanted weeds.

TIP: Leafy green foliage and off-cuts can be used in a vase to brighten rooms and table settings.

7. Let There be Light
Don’t let that layer of dust and dirt covering your windows stop you from swinging those curtains open and letting in that glorious light. The window clean is the last on our list but will likely make the biggest impact. With a soft bristled broom brush over the outside of the glass to get rid of any cobwebs and dirt. When washing don’t be tempted to use newspaper but instead use a clean microfiber cloth, this is much more effective and less likely to leave marks on your frames.

Don’t forget to give your screens a good rinse of any dust, dirt and cobwebs that have accumulated whilst the windows have been shut.

TIP: Use a blackboard eraser in circular motions to get rid of any streak marks left behind on glass.

 

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.

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Copyright © 2016, www.propertyquarters.com.au

The Perfect Open for Inspection


Is your rental property ready for business?

Whether it’s an open-home inspection or by appointment, to be successful requires planning and preparation.  How’s we conduct the perfect inspection. Early planning is crucial.

1. With or without tenants?

You are entitled to show the property to potential tenants prior to the current tenant moving out, in NSW two weeks written notice must be given to the tenant before the first and subsequent inspections are organised.

When the market is strong, we can often find a tenant to move in straight after the old tenant has vacated. However, it’s best to allow a little time to make any repairs or upgrades that may be necessary.

The main risk of hosting inspections in a tenanted property is that you don’t have much control over the presentation. Even with the best tenants however, there might be stacks of packing boxes scattered which may make the property look smaller and cluttered.

If the tenant is breaking the lease you can expect their cooperation. They won’t be able to vacate until a new tenant is found, so, it’s in their best interest as much as yours to find a new tenant quickly.

When showing the property with the current tenant still occupying, we try to arrange private appointments. This gives us time to to explain any awkward situations and also addresses the issue of security, as we are better able to look after the tenants belongings.

2. Open house or by appointment?

In the case of a vacant property, there are many advantages to having an open-house inspection.

Most tenants actually like the simplicity of just showing up without having to call an agent or owner to arrange an appointment. Additionally, having a number of interested tenants in the property at the same time will also create a sense of urgency. This is the main reason why we restrict inspection times to fifteen or twenty minutes – to make the inspection look busy.

With private appointments, we can give a more personalised tour, taking time to highlight all the best features.

3. First impressions

You only get one chance at a first impression.

We like arrive early and prepare the property to its best advantage.

* Open curtains, blinds, windows and doors to freshen the property. Use curtains and blinds to your advantage to soften less-desirable outlooks while letting in as much light as possible.

* Switch all lights on, even in rooms that may not need it; people love light. In the kitchen, turn on the range- hood light and bench-top lighting. Use lamps to create mood lighting where possible.

* Ensure sinks and basins are clean and clear of any residual water.

* In winter we’ll try to have the heating on and in summer the air-conditioner, to level out any extremes.

* Turn on outdoor spas, fountains and garden lights.

* Blend some essential oils to create a calming fragrance, such as lavender and bergamot.

We are now ready to host a perfect inspection.

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.

GA-email-signature-1000

 

 

 

 

 

Copyright © 2016, www.propertyquarters.com.au