News

October 22, 2019

Don’t Let Horror Tenants Spook Your Investment Experience

Halloween is just around the corner, and it got us thinking about nightmare tenants and how bad experiences often scare landlords into making rash decisions.

A dodgy tenant can put a dampener on your investment experience. On the flip side, you might be holding on to bad tenants out of fear of losing rent and worrying whether the new tenants will be worse.

Over the years, we’ve dealt with our fair share of horror renters, which means we now have the experience...

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October 15, 2019

The Market - Spring 2018

This newsletter feels like a repeat of the 2018 version!

Rental market - Has Spring helped? 

As we said in 2018, normally the warmer weather brings along a better (in general) rental market. To date, this has still not materialised! Achieving amazing results is not happening right now, and anecdotally, the downturn is 2% - 10% down, even 15% from last year (again, a generalisation). So, put away the rental increase mindset (unless entirely appropriate) and think about keeping good tenants on fixed term leases to ride out...

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May 12, 2019

One of my favourite clients...

It didn't start that way. Let me rewind only 6 months ago.

Introduced by another real estate agent who I met only a few weeks earlier (another blog post that), we knocked on a house in Surry Hills and waited. Another knock, another wait. I was thinking to myself, what a complete waste of a Saturday morning!

Then literally about 5 minutes later from above, from a small window frame, a little old lady yelled (I will call her Rose) out something...

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April 16, 2019

OPEN FOR INSPECTION

After a prospective tenant or purchaser comes through, why is it so important to know what they are thinking?

As an agent, we want to know...

  1. Are they genuinely interested?
  2. What aspects can be improved to the campaign - is it pricing or presentation? 
  3. Are we targeting the right market?
  4. Anything else?

Question for you - If you get called by an agent after an open home you have inspected, do you provide honest feedback, do you return their calls (!) or what feedback do you...

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April 09, 2019

INGOING INSPECTIONS

An ingoing inspection report is an important document for tenants, owners and agents to decipher how a tenant should leave a property at the end of a tenancy.

It provides transparency and an opportunity for the tenant to correct or amend anything (within the first 7 days it should be returned) that they see different with the property that the agent/owner has seen.

Often as agents we see the catchphrase "I have left it cleaner than when I moved in" so often....

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March 20, 2019

WRITING A GOOD AD - DOES IT MATTER?

Yes, yes it does.

We are no copy-writing experts, but what are the ways a buyer, tenant or prospective client can evaluate your ability to communicate their properties online?

You have the key elements of pretty pictures - they constantly say it speaks a thousand words. This is a no- brainer. They must be beautiful, accurate and professional.

Same again for a floor plan - to give the viewer an essence of the space, layout and whether they can swing a cat inside...

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March 14, 2019

LANDLORD INSURANCE - JUST DO IT.

Found a tenant? Great.

What sort of tenant are they? You may have a pretty good idea, as you should have done the reference checking as below...

  • Employment checks? tick
  • Rental history? tick
  • Social Media check? tick
  • 100 points of ID? tick
  • Character check? tick
  • Other relevant documents (bank statements, written references, + more) tick

Now, we have seen these scenarios turn out well 97% of the time but sometimes a peculiar or unfortunate scenario happens - domestic violence, malicious damage to fixtures and fittings, defaulting on rent...

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February 06, 2019

WHERE DID JANUARY GO?! A RENTAL UPDATE

Ever since January 1, 2019 ticked over, here at Elevate we have been inundated with vacate notices and trying to re let properties or lease out new properties we have secured.

It seems like a lot of people made their New Year's resolution to find a new home, rent out their property or make a change of some degree - not highly unusual at this time of year, but certainly we have noticed a sizable increase from previous years.

So far, across Sydney the...

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January 09, 2019

WHERE DO WE ADVERTISE PROPERTIES FOR RENT?

Some of the traditional methods are known...

  • The paper/magazines? - not with us, not for rentals. For sales...maybe, but unlikely in this day and age. We like to promote the property, not the brand! (yes, that is a dig at our general competition)
  • The internet - yes, more about this below
  • Database/Newsletter - yes, this still works for 'off market opportunities' and relocation agents and their clients
  • Other properties (open homes we host) - we meet prospective tenants at other properties and they ask...

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December 20, 2018

WHAT MAKES A GOOD TENANT? (RESIDENTIAL)

At Elevate, we look at 5 (five) key areas to determine what makes a quality tenant to put forward to our property owners.

  1. Financial capacity

We need to ensure the capacity to pay for the rent is possible. i.e having more than 30% of income going to rent can cause concern, creating potential future stress levels, non payment and further issues in the long run (a good article can be found here to give you an indication - click here)

rent.com.au also...

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