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
by George Astudillo | Jul 10, 2016 | Legislation, Tenant
The Residential Tenancies Act 2010 includes provisions for the current minister to “…conduct a review after five years to determine whether the policy objectives of the Act remain valid and whether its terms remain appropriate for securing those objectives.”
It’s comforting to know that our legislation is progressive enough to allow for corrections. Nothing is perfect, and this review allows for the public at large whether individually or through special interest groups, to voice an opinion of changes that would benefit the community through property legislation.
Public submissions closed on 29 January 2016 and the NSW Fair Trading has been reviewing those submissions. On the 17th of June they released “Residential Tenancies Act 2010 – Statutory Review” outlining their recommendations with an explanation for each.
Amendments to Act will be drafted in 2017.
Recommendations include
• Clarity on shared housing arrangements.
• Disclosure requirements, particularly for properties used in drug crime.
• Strata by-laws – to be issued to tenants when signing a lease.
• Update to the Tenant’s checklist to include safety requirements.
• Rental Bonds
– Remain at 4 weeks.
– Abolish the payment of interest to tenants.
– All landlords/agents register with Rental Bonds online.
• Ability for condition reports to contain photos.
• Agent/landlord to consult with the tenant for the use of internal photos for marketing.
• Water usage – more clarity on what is “separately metered premises”.
• Rent increases – no need to send “60 days’ notice” if increase is already documented in a fixed term lease.
• Repairs
– Allowance for a tenant to terminate a lease based on repairs not being carried out.
– Time-frames for repairs.
– Authority for the Tribunal to order the landlord to carry out repairs.
• Alterations – landlord may not unreasonably refuse consent for minor alterations that would make the premises livable for disabled or elderly tenants.
• Changes to the Act that will encourage long term leases.
• A better method for calculating a tenant’s liability when breaking a lease.
• Domestic Violence – make it easier for victims of domestic violence to terminate a lease.
• Residential tenancy databases – tenants not to be charged to find out if they are listed.
• Allow for notices to be served electronically.
The full report can be downloaded here
To see different tenancy legislations in different states see our link “Renting in Australia- One Country, Eight Different Rules”
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 6, 2016 | Financial, Planning
“Buying an investment property is an exciting experience. But, before you set out to become a landlord, you should consider asking your accountant for their valuable expertise.”
It’s always nice to be quoted.
Read the full Huffington Post Australia interview HERE.
Copyright © 2016, www.propertyquarters.com.au
by George Astudillo | May 18, 2016 | Presentation, Repairs and Maintenance, Tenant
Occasionally a tenant feels there may be some fixtures or fittings that would make their home more comfortable, enjoyable or safe for them to live in.
It might be repainting, screens on windows, new curtains or even air-conditioning.
Firstly, legislation states that the tenant cannot make any alterations, add any fixtures or make any additions to the property without the landlords written permission.
If the tenant requests to make alterations at their own expense and you feel that the request is reasonable, make sure your consent is detailed and in writing. Also add that a condition of the approval is for the tenant to restore the premises to its original condition when they vacate (unless you like it so much you want it to stay).
If you feel that it is not only reasonable but something that would add value to the property, consider doing it yourself. This way you have total control over the tradesperson, quality of work and materials.
When the tenant vacates, they are entitled to remove and take with them any item they have paid for, and they are obligated to return the property back to its original condition. Of course, if the item was paid for by you, they cannot remove it without your consent.
Now it’s important to understand that you may not unreasonably refuse consent if the change is of a minor nature.
So what is considered minor? Examples of works of a minor nature include:
- Installing extra security devices
- Installing a phone line
- Connecting broadband internet or cable television
- Some picture hooks
- Hand rails for the elderly
What would constitute a reasonable refusal?
- Structural changes
- Changes not easily repaired or made good on vacating
- Changes not consistent with the nature of the property
- Changes prohibited under law
- Painting
Unless the tenant is a professional painter or handyman would you take the risk in allowing them to paint your property?
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 | Mar 25, 2016 | Financial, Landlord mindset, Planning
Owning an investment property is no different than owning a business, you must have a financial plan.
Many investors live month to month, using the rent to pay the mortgage and expenses. In some months there’s money left over and in some months there’s not enough. This type of arrangement adds an enormous amount of stress.
Part of our management services is to prepare a complete plan and budget for every landlord.
By knowing what your expenses are on any given month, you can prepare yourself for difficult times and even the unexpected.
The expenses
o Council rates
o Water rates
o Strata levies
o Land tax
o Management fees
o Postage
o Leasing fees |
o Lease preparation fees
o Marketing expenses
o Insurance
o Smoke alarm inspection
o Repairs
o Maintenance |
To work out your own budget:
- Make a list of your expected expenses and the amounts.
- Determine when they are due, are they weekly, monthly, quarterly, half yearly or annual?
- Print the table found here and add the expenses
- Total the expenses for each month.
- Add your expected income, or rent.
- Subtract the total expenses from the rent each month to determine your expected monthly profit.
TIP: Allow some funds for the unexpected and remember to compare this budget with actual costs to make sure you are still on track to your goals.
Download a free Budget Template in our Free Downloads page
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
