With the temperature in many cities of Australia having already dropped with the change of seasons, now is the time to get your house sorted for winter. It’s not just important to artificially heat our homes, but vital to seal them up and insulate them too.
The warmth of your home during cold winter days depends on its construction. A well-insulated brick house, with wall-to-wall carpet and heavy curtains with pelmets, … Read the full post »
In the past it has been a common practice for New South Wales Real Estate Agencies to commence a new Tenancy with a Fixed Term Tenancy Agreement and at the end of the term, simply continue the Tenancy as a Periodic or Continuing Agreement.
When changes occur within the Residential Tenancies Act, Agents must review systems and procedures to cater for the … Read the full post »
Does your investment property need a health check?
Can you be certain that the rent you are charging your tenant has kept up with market rates?
Are you 100% sure that your Tenancy Agreement and property are compliant with current legislation (which does change from time to time)?
Are you properly insured?
Have you regularly inspected the condition of your property to make sure the tenants are taking good care of it?
Are your rent … Read the full post »
A common query our Property Managers often hear from Landlords and Tenants is…
“What is accidental damage and how is this different to malicious damage, deliberate damage and/or wear and tear?”
From an insurance perspective, it is defined as per below:
Accidental Damage: An unexpected or sudden loss. This is generally something that is an accident and not … Read the full post »
The number of people investing in real estate is increasing, but before you buy, you need to make sure it is right for you before you make a decision.
Here are 6 factors it is wise to consider before making your property purchase:
1. Your Investment Focus
With real estate you have 4 choices: Commercial, Industrial, Retail and Residential. Commercial and Industrial offer a far higher return to compensate for what is frequently … Read the full post »
One question investors often ask about claiming depreciation on a rental property is, ‘How will these claims affect Capital Gains Tax (CGT) when the property is sold?’
CGT can be a complex topic for investors to understand, particularly as the answer to the above question can really depend on the scenario of the individual … Read the full post »
When working on your investment property there are a lot of things you may be tempted to do yourself, but it pays to stop and ask: “Is it worth it?” Sometimes the cons outweigh the financial saving, and some tasks are simply best left to the experts.
Ask your Property Manager to source quotes for the work. There will be no obligation to go ahead, but at least you will … Read the full post »
How much notice must a Tenant give a Landlord (or their Agent) that they are going to vacate?
If the Tenant is on a fixed term Tenancy and wants to end the Tenancy on the last day of the fixed term, the Tenant must give the Landlord (or Agent) 14 days notice including the last day of the fixed term. If the Tenant is on a periodic agreement (month to month), … Read the full post »
While there are dozens of nasty pests that can have a negative impact on the value of your property, rest assured there are plenty of tried and true methods of getting rid of these unwanted guests.
Your local pest removal company should have a remedy for each of the following pests: ants, spiders, wasps, bed bugs, fleas, mosquitoes, rats, mice, bats, snakes, moths, bees, earwigs, silverfish, termites, cockroaches, millipedes, centipedes, carpet … Read the full post »
From 1 October 2012, the First Home Owner Grant Scheme was replaced by the First Home Owner Grant (New Homes) Scheme. The new scheme only applies to first home owners who purchase or build a new home valued at up to $650,000.
The grant will increase from $7,000 to $15,000 from 1 October 2012 to 31 December 2013 and then reduce to $10,000 from 1 January 2014.
The grant is targeted at … Read the full post »
When purchasing a rental property the potential for capital gain is always front of mind. Capital gains however are not normally realised until many, many years after the purchase date. In the meantime you must service that loan and ensure your investment is protected into the future.
While we wait for capital growth to soar on our investment property, maintaining a low vacancy rate is not only appealing, but essential. Attracting … Read the full post »
The frequency of property damage claims – both malicious and accidental – has surged by as much as 46 per cent in the past 12 months, according to a landlord insurance company.
“These figures challenge the stereotypes that exist in relation to rental property damage,” Terri Scheer Insurance manager Carolyn Majda said.
“There is a widely-held misconception that good tenants won’t cause damage. The figures show that this is far from true.”
The … Read the full post »
Probably easier than you think. It just takes a little thought in advance, and the patience to set things aside.
With summer holidays looming and figures from the Australian Bureau of Statistics already showing householders are increasingly keen on renovations – potentially due to a “batten down the hatches” feeling in the face of the global economic situation, and locally the subdued property market – there’s bound to be a rash … Read the full post »
For some time now, John Pye Real Estate has been proudly supporting Heart for the Homeless.
Founding Director, Leighton Walters, writes “Heart for the Homeless builds the bridge between the real estate industry and the not-for-profit sector by offering a free, quick and easy internet based resource donation service.”
With over 100,000 homeless people in Australia, a difference can be made in these people’s lives – one life at a time.
79,000 Australians … Read the full post »
Recent indications are that buyer activity in the Sydney housing market has improved marginally following a subdued winter. The Bureau of Statistics reports that monthly housing loan numbers are rising and weekend auction clearance rates have lifted recently to about 60 per cent.
The latest Australian Property Monitors median house price data, however, has revealed that Sydney house prices continued to weaken over winter along with those of the other capital … Read the full post »
The relationship between consumer confidence and housing market activity is a topic that we often comment on in relation to the housing market. The importance of a positive consumer mindset is simple; for a prospective buyer to make a high commitment purchase decision like buying a home they need to have a base line level of optimism about their job security, their ability to service a mortgage and the prospects … Read the full post »
Spring is traditionally a busy time in the property market. Approximately 1 out of every 3 vendors believes Spring is the best time of the year to sell a property. Purchasers who have held back in the colder months are coming out to see potential properties to purchase and vendors are looking to sell so they can relocate in time for Christmas.
John Pye Real Estate is experiencing strong demand from … Read the full post »
If you are renting or buying a property with a pool or spa, it is important that you check the pool fencing. This is particularly important if you have young children, or will be having young children over to visit.
Pool fencing plays a vital role in childhood drowning prevention. A fully functional fence with a self-closing self-latching gate, along with vigilant adult supervision is the best way to prevent childhood … Read the full post »
The NSW government will limit full stamp duty concessions to those buying new homes from 1 January 2012.
First-home buyers currently pay no stamp duty on all properties under $500,000 and receive a discount for properties valued up to $600,000. From January 1 next year, the stamp duty concessions will apply only to newly constructed homes, including those built off the plan.
The move is a welcome boost to the spring property … Read the full post »
In this article Property Professor Peter Koulizos compares apartments and houses as possible investment options, so far as capital growth is concerned. He explains that they differ in performance for a number of reasons.
Demand v Supply
For those of you that have studied Economics you might remember that price is a function of demand and supply. In other words, the price of something is based on how many people want it … Read the full post »