Renovators at risk of overspending

A RUSH to renovate by property owners who don't want to sell into the flat real estate market is threatening to create a new set of financial problems.

Many people risk overcapitalising their homes and being disappointed when they eventually sell, says EPS Property Search director and author Patrick Bright.

"Those homeowners who have overcapitalised are being exposed more than ever, leaving many at risk, particularly in areas where the market has softened quite significantly," he says.

"The number one cost people try to avoid by renovating is stamp duty.

"Unfortunately, they don't realise they can tear up just as much, if not more, by overcapitalising on a renovation."

Recent government data has showed increases in renovation activity but declines in new home building starts amid falling real estate prices.

Growing numbers of renovators are opting to take a do-it-yourself approach.

New research from Canstar Blue shows 73 per cent of people are doing the majority of house painting themselves.

Generation X those aged 30 to 50 years are more likely to ditch professional painters, the research found.

However, fresh paint or more expensive renovations cannot insulate property owners from the broader market declines, with capital city house prices slumping between 1.2 per cent and 9.1 per cent over the past 12 months.

Figures released last week by RP Data and Rismark suggest the national housing slump seems to be slowing, with capital city home values down 0.2 per cent in September.

"In the month of September there were wide divergences in the performance of the individual cities," RP Data research director Tim Lawless says.

Bright says it is not unusual for people to be asking prices 10 per cent above their true value to try to cover the cost of their renovations.

"One tell-tale sign that a homeowner has overcapitalised is when you ask the sales agent how the vendor came up with the asking price," he says.

"The sales agent quotes the amount the owners spent on the renovations and the price the property was worth prior to the renovations, adds the two together and there's the expectation to sell the property at that price."

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UNDERSTANDING THE NEGOTIATION PROCESS

Negotiating the selling price of a property is a tricky process and emotions often run high.  Vendors sometimes think that moving from their original asking price means they are “losing money”, while purchasers are afraid of “going too high” in the heat of the moment. It’s a wonder properties ever get sold, when the price a purchaser is prepared to pay is often so much less than a vendor is prepared to sell it for!

Whether you are buying or selling, it helps to remember that market value for any property can never be scientifically established or arbitrarily insisted on. A property’s price depends on purchaser demand at the time of selling; when there is little buyer interest in a property, the price tends to be lower. If there are lots of buyers competing for a property, the price tends to be higher. Neither the vendor’s “I won’t take any less than…” or the purchaser’s “This is my final offer” actuallly determine the price. The price only becomes a reality when two parties agree to it and exchange contracts at law. In the course of negotiation, the vendor’s desire to get the highest price is offset against the purchaser’s desire not to pay too much. Neither wants to miss out –  vendor on  sales,  purchasers on  properties they have set their heart on. The point or price that is neither too little nor too much depending on where you are standing is arrived at by small (usually!) adjustments until the two parties evolve to a position they find mutually satisfactory.

Many vendors and purchasers think they can deliver a price ultimatum. If this is done before the market value is arrived at, it will usually bring negotiations to an end. The New Shorter Oxford Dictionary (1993) says: “It is not a negotiation when one party says “this is what I want.” It is easy to forget that market forces dictate prices and vendors who say: “We need $x to buy what we want” and purchasers who say: “This is my one and only offer, take it or leave it” need to ask themselves whether they have based their figures on analysis of past selling prices for similar houses, and not on their own wishful thinking. Whether you’re a purchaser or a vendor, leaving a window open for negotiation usually means you won’t get the door closed on the sale.

Where the balance of power lies in negotiations depends on the market. In a sellers’ market, vendors can and do make ultimatums and hold out for dream prices, while in a buyers’ market it is the buyers who have the upper hand in any negotiations.

Source

‘STAND AND WAIT’ NOT GOOD MARKET STRATEGY

When media reports start talking about static or falling home prices, many homebuyers think that it’s a good idea to watch the market and wait for it to reach the bottom. They feel that if they postpone their purchase long enough, they are likely to see prices fall further and snap up a ‘real bargain’.

While bargains do exist, of course, for people who are in the right place at the right time, there are often more people who miss out by using this strategy than gain.  Most homebuyers buy their family home and live in it for, on average, seven to ten years.  And when we’re looking at averages, the property market continues, in the big picture, to rise. Based on historical property cycles, property may undergo periods of static growth and periods of galloping growth, but on average, well-located, well-selected residential property doubles in value every ten years or so. Certainly, if we could always pick the lowest time to buy and the highest time to sell we would do very well indeed, but the only buyers who need worry about the immediate state of the market are the real estate speculators who wish to buy then sell again straight away, or those who are too highly geared or who have entered into unrealistic amounts of debt. For everyone else, the chances of strong long-term capital gain are virtually assured, provided they buy well-selected property in well-selected locations.

It’s famously difficult to pick the ‘bottom’ of the market. Often buyers who wait find themselves having little to choose from as listings get scarce – and a sudden flurry of competition for the few desirable properties actually on the market for sale often causes them to sell for higher prices than expected, even in a market described as a difficult one for sellers.  Buyers end up paying more than they bargained for if they  keep on watching and waiting;  because the ‘flurries’ they waited out were signalling an upturn in the market or the end of the halcyon days for buyers.

Purchasers who wait too long for a ‘bargain’ or the ‘lowest point of the market’ often only realise that the lowest point has already been reached once they can look back on it with the 20/20 vision of hindsight.

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Summer is quickly approaching - Pool Safety Tips

As the months warm up the need to cool off becomes ever greater, and the swimming pool is an attractive remedy to beat the heat.


However, with drowning danger apparent, it is important that everyone takes pool safety seriously. Following are some tips to ensure that your pool is safe during summer, which could save someone’s life:


• Ensure there is a CPR sign clearly displayed near your pool.

• Make sure that everyone at your home knows the CPR process. You can attend courses through the local Ambulance service.

• Ensure that you have rescue equipment by the pool in case of an emergency.

• Don’t leave climbable objects near the pool fence.

• Don’t leave equipment or toys in the pool as it can encourage small children to want to get in the pool.

• Always have an adult present when small children are swimming in the pool.

• Take your phone outside when supervising small children so you don’t have to leave… even for a minute.

• Never leave the pool gate propped open. This not only poses a danger to small children, but weakens the hinge on the pool gates, often causing it not to close properly.

• If you have a pool cover, always ensure that it is secured to the pool so small children cannot climb under.

If you are concerned about the safety of your pool it is recommended that you contact your local pool safety expert for professional advice

Securing the best tenant

Our philosophy is to find the best possible tenant in the quickest possible time to ensure that we are maximising your rental income.

However, if tenant demand is low, it is far better to have the property vacant an extra week than to approve ANY tenant just for the sake of having the property rented.

A tightening of the economic climate brings many social and financial factors that can impact on the management of rental properties. Tenants can find it harder to secure affordable housing, which can result in dishonesty on tenancy applications when applying for a rental property.

You can be confident that we are strict in our tenant selection process.  We are focused on securing tenants that will care for your property and pay the rent on time.

When we undertake the tenant application process we are thorough in our research process of the tenant. 

Following are a few of the areas and strategies that we take into consideration:

•     We verify their employment reference confirming the stability of their position and income by sighting wage slips.
•     We use the 30/70 rule as a guide to determine the tenant’s affordability of rental payments so they don’t overcommit. (30% of the household’s income is allocated to rent)
•     We avoid ringing listed mobiles and will conduct a telephone-number search of the employer’s business or previous landlord.
•     We verify previous rental references.  Real Estate references are often the most reliable.  If they have rented privately we will conduct a property search to confirm the owner of the property.
•        If they have travelled from interstate we will verify this with the address on their driver’s licence.
•    We will conduct a tenant default database search to see if they have defaulted as a tenant previously.
•    We will also look at other key factors such as how long they have resided at their previous property (long-term tenants are a better investment), whether they have pets and how many people wish to reside in the property.

While most tenants are honest in the application process, from experience there are still those who try to manipulate the process with false information. 

It is our duty of care to all landlords that we are thorough in our tenant selection process to ensure that your investment is protected. ■

Women powering the property market

Despite Australia enduring an up and down property market at present, it seems women are bucking the trend and leading the way in the search for prime real estate.

Research from realestate.com.au has revealed women are the power players when it comes to the property purchasing process.

Figures show women are currently accounting for two-thirds of visitors to the website and 87% are searching the site for property a minimum of three times per week (1).

From teenage to the twilight years, the research unearthed five distinct consumer segments that demonstrate the prominent role women play as ‘buyers’ or ‘drivers’ in the Australian property market.

The survey of 1260 female ‘active’ property seekers using realestate.com.au found five female segments were esentially the leaders in online property searches and determining a list of properties for consideration.

The segments, made up of First Home Buyers (25%), Upsizers (22%), Downsizers (7%), Lifestyle Seekers (27%) and Investors (17%), not surprisingly found a quarter of female online browsers were looking for their first home.

The survey also found:

Affordability was a major issue for First Home Buyers, with 67% looking to purchase a home under the $400,000 price range.

Around one in five active female property hunters were looking to upsize to a bigger or better home (Upsizers). Most were living in metro areas, from middle to higher income households and searching above the $500,000 price range.

Downsizers were the smallest of the five segments, representing just 7% of active female property hunters. Almost half (46%) were visiting the site daily to search for their ideal property.

More than one in four active female property hunters were primarily seeking a new lifestyle (Lifestyle Seekers) in a new area (rather than a bigger/smaller home, or first/investment property). The majority of lifestyle seekers were searching for properties in the $500,000 to $750,000 price range.

Female investors represented 17% of the active buyers searching on realestate.com.au. Around half were looking at properties under $400,000, with almost half of respondents (49%) indicating using the site to find out the ‘sold’ prices of properties.

The survey also revealed these consumer segments demonstrated significantly different search behaviours, using a range of tools such as property websites, mobile search and telephone enquiry to progress their interest in a property.

Source

A review of your home insurance

Home insurance is the most important protection that you can have for your investment property. If damage occurs from an unexpected fire, storm, flooding or burglary, you want to have peace of mind that you are financially covered.

In reviewing your home insurance we have taken the time to list some thought provoking questions:

• Is your property adequately insured? If your property was destroyed could you rebuild the property to the same standard?
• Is your property overinsured? Remember, you do not need to insure the land value. If you purchase a property for $500,000 it is going to include a portion of land value.
• Do you know what is considered building and what are contents within the property? Insurance companies may classify these differently, which can affect the insurable value for the building or contents. You need to find out what an air-conditioner, carpets, blinds, light fittings, security systems, etc. fall under.

Some insurance companies have a limit on how long they will cover a home while it remains vacant. Is your property covered if it is vacant?

We strongly recommend that you discuss these questions and ask further questions of your insurance company or broker to ensure that you are adequately covered

EVALUATE YOUR POTENTIAL AGENT IN 15 Q's

Did you know that there are fifteen questions that will help you separate the professional from the not so professional agent when you are trying to work out who will sell your home? Compare two or three agents’ answers to these questions and you will not only know your local marketplace better but you will have a good idea of which agent is likely to do the best job of selling your home. 

1. How long have you been selling real estate?
    
2. How many properties have you sold in the last 12 months?
    
3. From what advertising sources do the majority of local home buyers come?
    
4. Approximately how many purchasers do you have listed on your books who might be interested in inspecting my property for sale?
    
5. a) Do you recommend advertising on the internet?
   b) If yes, what sites do you use?
   c) Do you use virtual tours?
    
6. Are Open Homes a good idea?
    
7. What is your agency’s attitude to auction?
    
8. If I were to auction what is your agency’s percentage, over the last 6 months, of properties sold
   a) prior to auction?
   b) under the hammer?
   c) after auction?
    
9. Over the last 6 months what has been the percentage variation in a local   property from asking price to sold price?
    
10. What is your agency’s average length of time from the first marketing activity to offer and acceptance?
     
11. What is the length of your agency period?
     
12. Do you provide a Service Guarantee?  If yes, can I see it?
     
13. If I am not happy with your service what remedies do I have?
     
14. a) What is the average cost of a marketing programme?
    b) Can I pay it off in two or three (credit card?) payments?
     
15. Why should I appoint you as my selling agent?

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How do you know if it is a tenant or landlord market?

There are a number of factors that market researchers rely on to determine whether it is a tenant or landlord market. However, the most commonly referred to statistical data is the ‘vacancy rate’.


In a recent article published by domain.com.au an expert in research, Louis Christopher, Managing Director from SQM Research, commented that “In almost all locations around the country, renters are facing an uphill battle in finding affordable accommodation”.

So...how do you know if it is a tenant or landlord market?

Overall, a market that favours landlords is said to exist when vacancy rates are below 3 per cent. Above this level, it starts to turn into a tenants’ market.

SQM Research recorded the national vacancy rate at 1.9 per cent, which represents a very difficult market for renters.

The data collected to determine the national vacancies rates was based on online rental listings that had been advertised for three weeks or more, compared with the total number of established rental properties.

The toughest market is Canberra at just 0.7 per cent, while the one that best favours tenants is Melbourne, which has a vacancy rate of 2.8 per cent. Sydney is recording 1.4 per cent, with the outer ring showing rates below 1 per cent. In some locations in Sydney’s west, vacancies are almost non-existent.


It was also noted that many affluent suburbs or higher-priced rental properties were experiencing higher vacancy rates, such as 4.8 per cent, leading to landlords having to offer discounts to attract quality tenants. This further demonstrates the demand for affordable housing.

A similar trend was witnessed in the second half of 2008 when vacancy rates in some more expensive suburbs reached 10 per cent.

Our current vacancy rate is 1.5%, however, if you are interested in the vacancy rate for a postcode or suburb you can visit www.sqmresearch.com.au to assist with your research.

LOOK CLOSELY AT TOUCH-UPS

When inspecting a home to buy it is always nice to walk into a property that is well-presented, with new paint finishes and everything spick and span. But sometimes it’s all too good to be true.

While most repairs and new paint represent the efforts of proud home owners paying attention to detail to maximise buyer interest, homebuyers should remember that recent renovations in properties for sale aren’t always what they seem.

Over time most houses will show evidence of the lifestyle of the people who have been living in them. Stains appear after friends have dropped in with a bottle of red, or under the debris left by teenagers cooking themselves dinner.  Most of these stains are normal wear and tear.

But some stains represent functional problems; a carpet stain might mean a leaky toilet or shower cubicle on the floor above or adjacent, or it might mean a crack in the foundations through which water is seeping; stains on paint or wallpaper near a window can indicate moisture problems caused by loose glass or fittings; stains in the middle of walls can indicate a (costly-to-repair) leaking internal pipe.  

Home buyers should pay special attention to improvements that appear isolated or surfaces that seem touched up. New paintwork, especially where small areas such as one wall or one corner of a room, or back-to-back walls appear to have been done rather than the whole room should be carefully assessed to see if it hides mould or temporarily conceals cracks. Be suspicious when some areas are slick with new paint while other rooms seemingly in need have been bypassed. Even new latticework may be less than innocent; it can be used to hide termite or other infestations.

Prospective purchasers should inspect any recent workmanship carefully. Most work will be just as it seems: conscientious home sellers getting ready for the big event. Still, training yourself to look carefully during inspections so that you spot the repairs that are little more than bandaids for larger problems is likely to cost less time, money and stress in the long run.

THE 7 THINGS BUYERS SEE FIRST

Many people concentrate on interiors when putting their house up for sale. For good reason - the inside is where purchasers will be living and sleeping. But overlooking the exterior of the house can undo some of the good work home sellers have done inside when they de-clutter, paint and generally pay attention to maintenance.


Purchasers start making judgements from the minute they step out of the car - and a bad first impression can stay with them when they go inside. Untidy or damaged gutters, cobwebs or overgrown gardens brimming with weeds, might just make purchasers decide you don’t care about your home - and make them wonder how good your attention to detail is in the areas they can’t see like plumbing and wiring. Cleanliness is important - even people who don’t mind their own dirt and clutter usually notice other people’s. Before putting the house on the market, stand at the curb and have a critical look. This is the first view your purchasers will see. Does it measure up? Here are six things that are easy to do and will make a difference to the exterior of your house.

1. Sweep paths and decks.
2. Clean gutters, window frames and eaves.
3. Don’t forget to wash outdoor or deck furniture if you have it - in winter it is easy to overlook if you’re not using it like you do in summer. If it is grungy and decrepit, borrow or buy something that suits your home. It’s not expensive in the scheme of things.
4. Clear away odds and ends - even those that are lurking in the less visited parts of the garden. Remember purchasers will see EVERYTHING. Old plant pots and broken toys or tool, even the half-finished projects or building materials that look like works in progress to you - all these spoil the look of your house.
5. Organise for high pressure hoses to clean mould or moss from brick work or stone.
6. Invest in a bit of mulching - it makes garden beds look tidy and the property look nurtured and loved.
7. Put in some colour where you know people will notice it. You can use pots if that is easier. Just make sure they are kept watered as drooping plants are worse than no plants at all.

 localpropertynews.net

Ferderal Government proposes a new "Green Tax" for homes before their sale or lease

Late last month, the Federal Government announced that they would be listening to the public on the idea of a "green rating" for all Australian homes. Under the scheme, mandatory "green ratings" would be allocated to apartments and houses before they are put up for lease or for sale. This rating would be applicable to both new and old homes and the vendors/landlords would be expected to maintain or improve the "green" rating of the dwelling.

A national report has been drafted detailing four possible versions of auditing a home in NSW. All the audits drafted involve the payment of a financial "tax" payable by the vendor/landlord if they wish to put the property up for sale or for lease. The most expensive of these incorporates a $774 fee for an assessor to perform the audit and an additional $50 if the owner wishes to be present during the assessment. That is a fee of over $800 to assess the homes "green rating."

As can be expected, there is some strong opposition to the Government's proposal. Real Estate Institute of NSW president Wayne Stewart said, "The Government needs to work with consumers to bring about change rather than slap them with what looks like being another tax of up to $800."

The cheapest option would be for the owner to complete a checklist at a cost of $41, a scheme that is already being used in Queensland.

The Government feels that a good green rating could be reflected in an increased value of the property. "Assessing the energy and water efficiency characteristics of a home can help people chose a property that is potentially more comfortable and cheaper to run."

What are your thoughts? Is another tax on housing really the answer to getting us to adopt greener versions of our homes?

Source:  Sarah Lordon Real Estate

To increase or not to increase, that is the question...

When reviewing rents and tenancy agreements the question often arises “Should the rent be increased and if so, by how much?”


As your managing agent, when the tenancy agreement is under review, the first thing we assess is whether the tenant is looking after the property and paying the rent. If the answer to this question is no then renewing the tenancy would be detrimental to protecting and maximising your income. If the answer is ‘yes’ then we would proceed in completing a comparative market analysis of your property to assess the price the property may rent for on the current market.

This is the price that could comfortably be achieved if your tenant decided to vacate the property at the end of their tenancy. Only a few years ago, it was common practice for many agents to just increase the rent by $5 or $10 (regardless of the market review), however, as tenants are becoming more astute and, through Internet resources, are now armed with up-to-date information about the rental market, it is becoming increasingly important to be accurate in accessing the market value of the property.


Many investors are reluctant to increase rents at properties where they have retained a good, loyal tenant for a long period of time, and although this is sometimes a good practice where vacancy rates are high and the rent has only marginally risen, it is important to refrain from consistently choosing this approach. As the market continues to increase without the property being adjusted accordingly the tenant becomes shielded from market conditions, and when they eventually have to move they are unprepared for the increase in living costs.

It is also important to move with the market as conditions do not always reflect increases in costs. When these costs occur, as income is not being maximised, the costs can have a negative effect on the affordability of the investment. If an investor is put in a position where they need to sell their property, having the rent at less than market value will have a negative impact on securing a sale at a reasonable price. ■

10 THINGS TO DO IN A WEEK TO ATTRACT A BETTER PRICE

Most home sellers like to improve the presentation of their homes for sale. But sometimes it is hard to look objectively at the home that has become so familiar over many years and see what needs to be done to make strangers feel at home. The following ten tips aren’t very difficult or costly to undertake - but will pay off in sales dollars. 

1. Clear clutter, room by room. Take out personal photos - you want  buyers to imagine themselves there.
    
2. Get a professional clean, especially windows.
    
3. Tidy up the garden - make it look neat and easy to look after.
    
4. Check the outside of the house for neglect - cobwebs and old toys, tools lying around etc aren’t appealing.
    
5. Get rid of any signs of neglect or poor maintenance in the house itself. Replace dead light bulbs, fix squeaky doors, broken blinds, dripping taps etc.
    
6. Unless it’s a child’s bedroom, or bedrooms really are too small, put in a double or queen bed or a buyer will assume a bigger one won’t fit.
    
7. Put the best quality sheets you can afford on the beds. Make sure you iron them.
    
8. Call in a few favours and borrow good furniture to replace any old saggy or stained sofas etc and get rid of anything you can possibly do without.
    
9. Board your pets with a friend and clear away pet clutter.
    
10. Make liberal use of fresh flowers.

Source:  LocalPropertyNews

SETTING THE RENT

Most experienced residential property investors understand that  even a few weeks’ annual vacancy brought about by setting rent too high usually means a lower net income than if the property had been rented at just under current market value for the whole year.  

Experienced investors know that maximising income from rental property investment comes from keeping their properties occupied rather than by setting high rents, yet there are still landlords who expect to rent their properties for 110% of market value -  in spite of the risk of incurring high tenant turnover and concomitant vacancy.  Dissatisfied tenants who move on when they find a better value option create a cycle of  higher turnover and further weeks of vacancy.

Furthermore, investors whose properties are not good value get less enquiry and can’t afford to be as selective when deciding who will rent their property. This in turn increases the risk of property damage, neglect and arrears.  

Being selective means checking references (these days references are even available for pets!) but beware of taking into account irrelevant criteria such as dress style, marital arrangements and other personal choice issues. The bottom line criterion is Does their history indicate that they would be able to pay $x per week for y weeks?

 If a property stays empty because the rent is too high, owners can get desperate enough to overlook a tenant’s patchy references; in the effort to get the highest income, they make themselves more likely to get less because poor references could mean greater likelihood of getting behind with the rent.

New investors can avoid a lot of common errors by making use of the expertise of their managing agent. Many novice investors don’t think of employing a managing agent  until something goes wrong; it seems that many people think property management is child’s play until they realise they are out of their depth. Sadly, many people at this stage decide to sell their investment thinking it is ‘all too hard’ – and of course miss out on the investment benefits that accrue down the years.

Source:  Local Property News

BUYING A PROPERTY WITH A FRIEND

There are two kinds of property ownership contract – joint tenancy or tenants in common. Do you know which is more suitable if you are buying with a friend or business partner and which is better if you are buying with a spouse?

Usually when more than one person buys a property, they do so with a spouse. But with the price of real estate these days in most major cities, more and more people are opting to buy with a friend or business partner, either to live in together or to rent out as an investment.

The two types of contract available are Joint Tenancy and Tenancy in Common. Both types of contract allow for the owners to sell their share of the property to someone else, but they are different in other ways.

As a joint tenant you are entitled to possession of the entire property, but if you die, your joint tenant automatically owns the property no matter what your will says. Therefore this type of contract is normally only used by people in a close relationship. 

If the contract specifies that you and your co-owner are Tenants in Common, it means that you can leave your share to a friend, child or other person in your will. This form of ownership is suitable for people making a business venture, or for friends who are using shared ownership as a means of getting into the market at a lower figure than if they were to buy a whole property by themselves. The arrangement can be 50/50 or any other ratio that works for you. 

Note: Always obtain your own individual legal advice as it relates to your specific circumstances. This article is intended to be general advice only.


Source:  Local Property News

We'd like to share this with you...

We get some truly wonderful letter from delighted clients thanking us for helping them make their dream come true - this is an exert from one such letter and we'd like to share it with you...

..."We wanted to take this opportunity to let you know how grateful and happy we were to have you work for us with the purchase of our property in Lawnton in early 2011.  As you may recall this time was a very difficult time for us having been affected by the January 2011 floods.  Your consistent contact with us and encouragement helped us remain focused and excited even during this difficult time.

David Deane Real Estate is a very professional organization and I would recommend anyone contact you should they be interesting in purchasing or selling their property."

GOOD TENANTS DON'T HAVE TO MOVE AS OFTEN

5 TIPS FOR RENTERS WHO WANT TO STAY

One of the drawbacks of renting is that the landlords may want you to move out at some stage. This could be for reasons that you can’t help such as their needing to sell the property or wanting a family member to live in it, but sometimes even the decision to sell could have been influenced by the tenants themselves. What can you do to minimise the risk of this happening?

1. Many tenants make the mistake of thinking that landlords are ‘wealthy’. But many of them are young people - themselves living in shared houses to be able to afford to pay off a loan, or young couples with children making economies on holidays in order to prepare for their retirement. For such landlords, the fact that the rent is paid on time is very important to their cash flow, and tenants who think it ‘doesn’t matter’ if they get a bit behind in the rent may be setting themselves up for trouble in the long run.
    
2. Some tenants complain all the time and require even the smallest maintenance jobs to be done by the landlord. On the other hand, there are those who don’t bother making the call even for something serious that may cost the owner more money the longer the repair remains undone.
    
3. Think of the impact you have on neighbours. If neighbours complain about noise or rubbish left lying around to the agent landlord or worse police, it goes without saying that you won’t get to stay once the lease expires.
    
4. You may not be too fussy about dust or soap scum yourself but if you know it’s inspection time - get cleaning. If the place looks well cared for, agents and landlords won’t be looking for other things.
    
5. Ask before making any changes to the property - even putting nails in the walls to hang pictures.

Source: Local Property News

Queensland housing opportunity

Ok, it's official Queensland residential real estate is the cheapest in Australia.

Wow? That just does not make sense. What a great place to live with our lifestyle choices from vibrant cities to glistening beaches, all on the doorstep of some of the best tourist destinations in the country.
Our cost of living is cheaper than Sydney or Melbourne. Our state is resource rich. Anyone seriously looking for a good job can get one.
So whats the point?
If you want to make some serious money, the rule is buy before the next boom! Of course when the taxi drivers are telling you to buy, it's time to sell.the market today offers some excellent buying pretty much cash-flow neutral or at times positive. You just need to act before the mob and let time do it's work.
In two to five years there will be some massive jumps, confidence restored and the rewards will flow.
What an opportunity? The chance to sell and pay off your mortgage, or fund schooling or retire with independent wealth. The downside is so much less than the upside.
It takes courage to swim against the tide but the scenery can be life changing.
WHAT AN OPPORTUNITY NOW....buy a few and let leverage, the taxman and tenant pay your bills.