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Property Management Newsletter

Property Management Newsletter

Month ending September 2020

A message for our Clients

We navigated through our second month of Stage 4 restrictions with a little more ease than previous months.

September proved to be our second-best month for leasing since lockdown and restrictions came into effect back in March/April this year. This was only possible because of the hard work from our Property Management team, who leased 10 properties in one of the toughest months this year.

The recent easing of real estate restrictions and the ability to conduct private inspections has set us up for a very busy October. Our phone and email inquiries have been running hot with eager prospective tenants wanting that opportunity to inspect their ideal home. So far this month we have booked almost 20 private inspections for our properties and it doesn’t look like it will slow down as we move through the last quarter of the year.

COVID regulations and legislation have been extended from December to March 2021. This means that guidelines remain in place for no rent increases, and no vacate notices can be served to tenants. If you are unsure what this means to you, please get in touch with us.

We await the next update on October 19th, not just for the Real Estate industry, but other industries doing it tough including the Hospitality industry, and for everyone who is just waiting in anticipation to visit family and friends.

On a lighter note, our Colouring Competition was a great success and it was great to see so many kids get involved and enjoy in something a little different. Well done to all the entrants and congratulations to our winner.

Colouring Competition Winner!

A big congratulations to Leo for his amazing picture. We have awarded him with a $100 Smiggle voucher.
In addition to this, we recognise that parents and children have the challenge of homeschooling, are missing their friends, and being confined to the house for so long. We have therefore awarded all entries with a $20 Smiggle voucher.
There were so many fantastic entries and the final decision was not easy. We thank everyone for your entries and hope this will put a smile on your child’s face.

An investor’s guide to renovating a rental property

Considering a home renovation?
There are two main rules you must consider.
1. Don’t renovate a rental property as if you are renovating your own home.
2. Less is more. Remember, the property needs to be a blank canvas that tenants can move into and make their home. The more landlords cater to their own taste, the less likely the property will suit others.
Below is a brief guide of handy hints that may be helpful to you.
Seek approval from the owner’s corporation to undertake your plans
Even if you don’t end up following through on all the planned work, at least you’ve started the process. Some owners corporations have long wait times in granting approval, depending on their decision-making process and the size of the executive committee. In addition to this, concrete cancer can be a common problem, so it might be a good opportunity to have the floor inspected by a professional if you are planning to replace the carpet. If it needs repairing, now is a good time to do it.
List what areas need an upgrade (in order of priority)
For owner-occupiers renovating their own home, the general rule is to spend around 5 per cent of the value of the property on the kitchen and about 1 per cent on the bathroom. For rental properties, we suggest reducing that to around 3-4 per cent for kitchens and under 1 per cent for the bathroom/s. First impressions count, so when prioritising, be mindful of the first things potential tenants will see when they arrive at the open-for-inspection. Allocate approximately 10-20 per cent of your budget for contingencies. I assure you, renovations rarely run to plan.
Keep your neighbours in the loop
Once a time-frame has been established, deliver a letter to each resident in the building to notify them of the planned renovations and, if possible, have it displayed in the foyer of the building or common areas, giving as much notice as possible. Be sure to include the contact number of the onsite tradies or your office and an estimate of completion time. Be prepared: you may be asked for a deposit to cover any damage to common property.
Tick all the boxes on certifications
Any planned structural work will need to be inspected by a structural engineer, who will provide a certificate. Some owners corporations require a certificate before the works are carried out, stating that the work can be done. Some only need a certificate after the job is done to confirm that the works carried out are in accordance with regulations. Again, double-check the requirements as they will vary from building to building.
Carefully select your tradies
Ask for copies of your tradies’ Certificate of Currency for insurance particulars. Check that they adequately covered.
Always leave the carpet replacement until the end
This may seem obvious but even the most careful tradies with their drop-sheets make a mess. Not to mention you may end up with a difference in carpet heights against the paintwork on the wall if you paint and re-carpet in the wrong order. Most of the time new carpet is higher than the old carpet, but if you’re dealing with an 80s-style shag pile carpet, you could end up with a gap between the paint and the new sisal you’ve just put in.
Allow for plenty of power points in your splashback/cupboards
Tell your kitchen installer where you want them after the strip-out has occurred (a black marker indicating the locations with a cross works a treat). While tiling your splashback is considerably cheaper, if you can afford glass, it’s far easier to keep clean and less maintenance in future, with the re-grouting of discoloured, stained and deteriorated grout.
Try to use kitchen bench-tops that are heat, scratch and stain-resistant and that come with good warranty periods
This is one area of your renovation in which you should spend as much as you can afford, to ensure durability. There are some very good quality laminates that are among the hardest wearing and most affordable in the world of bench-top materials. Natural stone is a stunning product and very popular at the moment, but for rental properties, engineered stone is a good alternative to its more expensive cousin. Silestone is composed of 94 per cent natural quartz and is the only quartz bench-top that has a high resistance to stains, scratches, heat and liquid.
Try to avoid timber. It’s high-maintenance and, if not regularly sealed, can absorb water and leave you with a nasty dark stain or swelling.
Pick the right finishes
Choose kitchen cabinetry finishes that aren’t susceptible to showing up fingerprints and food splashes (try to avoid a glossy/shiny look). Keep the colours neutral; they are less likely to date and tenants can add colour with accessories. Avoid dark colours if your kitchen is a little pokey, and make sure you have good lighting. Downlights or track spotlights are ideal.
Look for cooking packages when buying your appliances
Harvey Norman and Appliances Online are favourites. If your kitchen design company can source them, let them. They can usually get better deals than the general public and can more efficiently coordinate the delivery and installation of the items to fit in with their schedule.
Install door stoppers behind all the doors to help preserve the newly painted walls.
Finally, don’t be afraid to ask questions of your tradies throughout the renovation process. Renovating is a fantastic learning curve that you will certainly benefit from if you renovate again in the future.

Congratulations to our ‘Tenants of the month’ for September

Congratulations to our tenants, Vy Tran and Viet Pham. We hope that you enjoy the$50 gift voucher coming your way.
This is our way of recognising and thanking the wonderful tenants who take the time and effort to maintain the property as if it were their own. And YES, there is a $50 gift voucher reward for our monthly winners to enjoy! You will also receive a ‘Tenant of the month’ certificate which you can use if you need a reference check for future rentals. If you meet the below criteria, you will be in the running to
be selected as Ray White Burwood’s ‘Tenant of the month’.
NO RENT ARREARS—Please ensure that your rent is paid promptly on or before the due date.
LEASE OBLIGATIONS—Must be met at all time, including ongoing presentation of the property, prompt reporting of maintenance and regular maintaining of the garden/lawns.
ROUTINE INSPECTIONS—If you have had a routine inspection conducted during the month and your home and garden is presented in immaculate condition