Attracting and keeping quality tenants

There are a wide range of ideas and things that you can do with your rental property to attract and keep quality tenants, which we will be including in future newsletters.

The one that we would like to share with you this month is the installation of reverse-cycle air conditioning.

Tenants want to be comfortable in their home.  They want to be  cool in summer and warm in winter.  If they are unsure about renting two properties and have to decide… you can be sure that reverse-cycle air-conditioning is a great selling point.

For a relatively small tax-deductible investment you can improve your property, possibly increase the rent and reduce your vacancy period.

Even if you currently have a tenant in the property, the proposal of installing reverse-cycle air conditioning may win the tenant over as a loyal and long-term tenant.

If you would like to install reverse-cycle air conditioning to your property, feel welcome to contact our office to discuss this further


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Is buying the Worst House on the Best Street good advice?

For some reason, we seem to measure our success in life by how we compare to others. Is our house bigger than theirs? Is my car nicer than Bob’s down the street? To feel successful, many people fall into the trap of buying things simply to impress others.

Thomas Stanley, Ph. D. quotes in his newly released book “Stop Acting Rich.... “If you examine homes by value from the lowest to the highest, you would find that as the value of the homes increases, so does the proportion of people who are living well above their means.”

The more expensive your home, the more you’ll be forced to spend on home repairs, maintenance and upkeep. This is hard enough, before you factor in what you’ll have to spend to keep up with your neighbors. If you buy a high-end home, you’ll end up sending your kids to expensive private schools and you’ll be forced to buy them all of the expensive clothes and gadgets the other kids have in the neighborhood.

The reason this happens is because it’s hard to avoid copying what you see every day. You won’t want to look like some schmuck who drives a rusty old car and sends his kids to the public schools in out-of-style clothes from Kmart.

The trick is to live in a nice home in a nice neighborhood that allows you to live below your means. It’s better to be a high earner in an average neighborhood than it is to be a low earner in a high-end neighborhood. Remember the old saying about “buying the worst house on the best street?” Well, as it turns out, this “best street” might actually lead you to the poor house.

Most of the millionaires profiled by Mr. Stanley in his book live on less than 80 percent of their income. They are frugal and focus their attention on investment rather than consumption. Their goal is to convert income into wealth, which is significantly different than people who act rich.

A psychology study found that having “things” isn’t what usually makes us happy. If “things” do, it’s short-lived happiness.

Instead, what makes us happy are life experiences. The good news is that life experiences are free.


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The facts about first home buyers

First home buyers were an extremely important element in the property market recovery during 2009. This week we look at exactly what impact first home buyers had on the market in 2009 and how their gradual slowdown in demand may affect the market in 2010.

During 2009, 191,000 first home buyers took the opportunity to become home owners across Australia. It’s no real surprise that first home buyers were so active during 2009 given that the Government was offering the First Home Owners Grant Boost, interest rates were at almost 50 year lows, some State Government’s were offering additional incentives such as low or no stamp duty on more affordable property purchases and properties had become more affordable during 2008 thanks to a fall in values. The volume of first home buyers during 2009 represented the highest annual volume of buyers on record and saw a 55% increase on first home buyer activity compared to the previous year. 

Between 1992 and 2009 there was an average of just over 116,000 first home buyers annually. Not only was the level of activity during 2009 the highest on record it was 64% greater than the long-term average level of activity.


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