  Bluestone Property Management & Sales (BPM) is a Brisbane based property management agency with a diverse wide-ranging property industry background and unique skill set tuned to increasing returns for their owners. New properties are regularly added to the portfolio by investors choosing to join the fold or make the switch to BPM's team of experienced staff with extensive property management experience operating rent rolls in South East Queensland. This growth curve has resulted in new staff and relocation to a centralised office enabling the BPM team to professionally manage properties all over Brisbane from Caboolture to Coomera and Ipswich to Moreton Bay.
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The Best Property Managers In Brisbane
by Lauren Schwartz | Oct 12, 2021 |QUEENSLAND
Beautiful Brisbane is home to some of the hottest rental properties in Australia. The prime location, iconic skyline, and thriving wine-and-dine scene make it one of the most sought-after cities in the country by renters and property owners alike.
When you own property in the most sought-after postcodes in Queensland, you’ll need top-tier Brisbane property managers to maximise your rental value and provide an incredible tenant experience.
How to pick the best property managers for your investment
There are a lot of real estate companies offering property management services in Brisbane. To know which one is right for you, here are some tips you can keep in mind:
Do your research. Check for a company’s credentials, awards, and years of experience in the industry. Remember to ask around for word-of-mouth referrals and client testimonials.
Commitment counts. The best companies go the extra mile by nurturing long-term relationships with their clients.
They have a great network of tradespeople. Leading property managers will recommend only trusted professional bond cleaners to handle the servicing of your property. Your house or unit will be in tip-top shape at the end of every tenant’s lease.
Can’t wait to give your property a boost? Take your real estate investment to the next level with our top 8 Brisbane property management companies:
Bluestone Property Management
Bluestone Property Management is a Brisbane-based boutique rental agency with over 62 years of local experience under its belt. Property owners go to Bluestone for ease of communication, shorter vacancy rates, and higher than average rental rates.
These are property managers who’ll make sure your rental is at the forefront of the market. Senior Property Manager Jessica Van-Look and her hardworking team are always on the lookout for prospective tenants for your property. They will ensure that your real estate investment is up to par with industry standards, or better.
What we especially love about Bluestone Property Management is its dedicated, client-focused approach and friendly, personalised service. Every house and unit they handle is tended to with incomparable attention and care. Whether it is ensuring that your tenant honours the terms of your agreement or monitoring the condition of the leased space, you can count on Bluestone Property Management’s loyal and honest staff to handle the upkeep and management of your rental property beyond measure.
The Best Property Managers In Brisbane
The post The Best Property Managers In Brisbane appeared first on Bluestone Property Management & Sales.
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BLUESTONES RTA EMERGENCY REPAIRS PROCESS
EMERGENCY REPAIRS
In the event of an emergency repair, please follow the below steps: 1. Phone your Property Manager and notify us of the situation 2. If no answer, please leave a detailed voice message and your call will be returned ASAP 3. In addition to the voicemail, please also send a text message to your Property Manager outlining your name, property address and a brief description of the issue and you will be responded to ASAP 4. In the event your call/text is not returned in a reasonable time frame, the tenant can refer to the emergency tradespeople listed on their tenancy agreement
PLEASE NOTE: If the repair is not considered an emergency repair or is found to be caused by negligence, misuse or fault of a tenant or their appliance, the tenant will be responsible for payment of services.
The Residential Tenancies Authority and the Residential and Rooming Accommodation Act states emergency repairs are:
• a burst water service or a serious water service leak • a blocked or broken toilet • a serious roof leak • a gas leak • a dangerous electrical fault • flooding or serious flood damage • serious storm, fire or impact damage • a failure or breakdown of the gas, electricity or water supply • a failure or breakdown of an essential service or appliance on the property for hot water, cooking or heating • a fault or damage that makes the property unsafe or insecure • a fault or damage likely to injure a person, damage property or unduly inconvenience a tenant • a serious fault in a staircase, lift or other common area of the property that unduly inconveniences a tenant in gaining access to, or using, the property.
All other repairs are considered routine repairs/general maintenance and will be actioned upon our return. Please ensure these are emailed through with detailed information and photos where available.
Before contacting us about an emergency repair, please ensure you have tried basic troubleshooting examples below:
NO POWER AT THE PROPERTY
• Check that there is no power outage with Energex Check Online or phone 13 62 62 • Has the power box tripped the safety switch or blown a fuse? • If the safety switch has been tripped, reset and if it trips again you will need to unplug all appliances from the power points. Reset the switch and re-plug each of the items one at a time to identify what is causing the problem.
BLOCKED DRAINS/TOILETS • Have you cleared the drain of any hair and soap build up? • Have you tried using a plunger? • Have you tried clearing the drains with specific cleaning agents for drains?
NO HOT WATER (ELECTRIC HOT WATER SYSTEMS) • Has the power box tripped the safety switch or blown a fuse? • Have you topped up the water level with the filler valve? • Is there water leaking out of the system? (GAS HOT WATER SYSTEMS) • Have you replaced the gas bottles recently? (are they empty?) • Has the pilot light gone out? • Are the gas bottles connected correctly?
PLEASE NOTE: If a tradesperson is called out to a property and it is found to be caused by negligence, misuse or fault of a tenant or their appliance, the tenant will be responsible for payment of services.
PREPARE FOR STORM SEASON
Summer is well known for unexpected storms in QLD. Please see below helpful contacts and links that can help you ensure you are storm ready:
FOR ALL LIFE THREATENING EMERGENCIES – CONTACT 000 IMMEDIATELY
State Emergency Services (SES) Phone: 132 500 Assistance Request: https://132500.qld.gov.au/ses-webapp/
Energex Outages Map: https://www.energex.com.au/home/power-outages/outage-finder/outage-finder-map/ Outages Phone: 13 62 62 Fallen Power Lines: 13 19 62
Get Ready Queensland (QLD Government) https://www.getready.qld.gov.au/get-prepared/home-maintenance-and-preparation
Prepare your Home (QLD Government) https://www.qld.gov.au/emergency/dealing-disasters/prepare-for-disasters/prepare-home
Storm Safety (Brisbane City Council) https://www.brisbane.qld.gov.au/community-and-safety/community-safety/disasters-and-emergencies/be-prepared/storm-safety
Get Ready Guide (Queensland Fire and Emergency Services) https://www.qfes.qld.gov.au/prepare/storm
https://www.qfes.qld.gov.au/prepare/flooding
If you have exhausted ALL options above and still require assistance, please send a text message to your Property Manager who will respond accordingly. Please include your name, address and the issue you are facing.
PROPERTY MANAGER CONTACTS
Lisa Reeves Property Manager (Cinque/Quest Apartments – 401-510) [email protected] 0411 274 676
Property Manager Property Manager (Cinque/Quest Apartments – 701 – 909, Inner City Suburbs, South Brisbane, Logan, Ipswich) [email protected] 0411 443 700
Jessica Van Look Senior Property Manager (Outer North Brisbane – North of the Pine River) [email protected] 0412 265 061
Mark Shorrock Managing Director/Property Manager (North Brisbane – South of the Pine River) [email protected] 0409 699 389
Lyn Niesler Assistant Property Manager [email protected] 0422 676 416
The post BLUESTONES RTA EMERGENCY REPAIRS PROCESS appeared first on Bluestone Property Management & Sales.
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OFFICE HOURS DURING THE CHRISTMAS/NEW YEAR PERIOD 2020-2021
OFFICE HOURS DURING THE CHRISTMAS/NEW YEAR PERIOD Our office will be closed from Thursday 24th December 2020 and will reopen Monday 4th January 2021.
RENT PAYMENTS Rent will still be receipted daily so please ensure you maintain your rental payments during this period to avoid arrears notifications and breach notices that could effect your rental history. Keep in mind that bank transfers can be delayed due to public holidays so suggest that if the day you normally pay rent falls on a public holiday, make payment a few days earlier to avoid the delay.
EMERGENCY REPAIRS In the event of an emergency repair, please follow the below steps: 1. Phone your Property Manager and notify us of the situation 2. If no answer, please leave a detailed voice message and your call will be returned ASAP 3. In addition to the voicemail, please also send a text message to your Property Manager outlining your name, property address and a brief description of the issue and you will be responded to ASAP 4. In the event your call/text is not returned in a reasonable time frame, the tenant can refer to the emergency tradespeople listed on their tenancy agreement PLEASE NOTE: If the repair is not considered an emergency repair or is found to be caused by negligence, misuse or fault of a tenant or their appliance, the tenant will be responsible for payment of services. The Residential Tenancies Authority and the Residential and Rooming Accommodation Act states emergency repairs are:
a burst water service or a serious water service leak
a blocked or broken toilet
a serious roof leak
a gas leak
a dangerous electrical fault
flooding or serious flood damage
serious storm, fire or impact damage
a failure or breakdown of the gas, electricity or water supply
a failure or breakdown of an essential service or appliance on the property for hot water, cooking or heating
a fault or damage that makes the property unsafe or insecure
a fault or damage likely to injure a person, damage property or unduly inconvenience a tenant
a serious fault in a staircase, lift or other common area of the property that unduly inconveniences a tenant in gaining access to, or using, the property.
All other repairs are considered routine repairs/general maintenance and will be actioned upon our return. Please ensure these are emailed through with detailed information and photos where available.
Before contacting us about an emergency repair, please ensure you have tried basic troubleshooting examples below:
NO POWER AT THE PROPERTY • Check that there is no power outage with Energex Check Online or phone 13 62 62 • Has the power box tripped the safety switch or blown a fuse? • If the safety switch has been tripped, reset and if it trips again you will need to unplug all appliances from the power points. Reset the switch and re-plug each of the items one at a time to identify what is causing the problem. BLOCKED DRAINS/TOILETS • Have you cleared the drain of any hair and soap build up? • Have you tried using a plunger? • Have you tried clearing the drains with specific cleaning agents for drains? NO HOT WATER (ELECTRIC HOT WATER SYSTEMS) • Has the power box tripped the safety switch or blown a fuse? • Have you topped up the water level with the filler valve? • Is there water leaking out of the system? (GAS HOT WATER SYSTEMS) • Have you replaced the gas bottles recently? (are they empty?) • Has the pilot light gone out? • Are the gas bottles connected correctly? PLEASE NOTE: If a tradesperson is called out to a property and it is found to be caused by negligence, misuse or fault of a tenant or their appliance, the tenant will be responsible for payment of services.
PREPARE FOR STORM SEASON Summer is well known for unexpected storms in QLD. Please see below helpful contacts and links that can help you ensure you are storm ready:
FOR ALL LIFE THREATENING EMERGENCIES – CONTACT 000 IMMEDIATELY
State Emergency Services (SES) Phone: 132 500 Assistance Request: https://132500.qld.gov.au/ses-webapp/
Energex Outages Map: https://www.energex.com.au/home/power-outages/outage-finder/outage-finder-map/ Outages Phone: 13 62 62 Fallen Power Lines: 13 19 62
Get Ready Queensland (QLD Government) https://www.getready.qld.gov.au/get-prepared/home-maintenance-and-preparation
Prepare your Home (QLD Government) https://www.qld.gov.au/emergency/dealing-disasters/prepare-for-disasters/prepare-home
Storm Safety (Brisbane City Council) https://www.brisbane.qld.gov.au/community-and-safety/community-safety/disasters-and-emergencies/be-prepared/storm-safety
Get Ready Guide (Queensland Fire and Emergency Services) https://www.qfes.qld.gov.au/community-safety/downloadlibrary/Documents/GetReadyGuide-E.pdf
If you have exhausted ALL options above and still require assistance, please send a text message to your Property Manager who will respond accordingly. Please include your name, address and the issue you are facing.
PROPERTY MANAGER CONTACTS Lisa Reeves Property Manager (Cinque/Quest Apartments – 401-510) [email protected] 0411 274 676 Amanda MacPherson Property Manager (Cinque/Quest Apartments – 701 – 909, Inner City Suburbs, South Brisbane, Logan, Ipswich) [email protected] 0411 443 700 Jessica Van Look Senior Property Manager (Outer North Brisbane – North of the Pine River) [email protected] 0412 265 061 Mark Shorrock Managing Director/Property Manager (North Brisbane – South of the Pine River) [email protected] 0422 676 416
🎅🎄🎁The Team at Bluestone Property Management and Sales would like to take this opportunity to wish everyone a happy and safe holiday break. It’s been a difficult year and we are all looking forward to a bit of a break and starting fresh in 2021 🎁🎄🎅
The post OFFICE HOURS DURING THE CHRISTMAS/NEW YEAR PERIOD 2020-2021 appeared first on Bluestone Property Management & Sales.
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THE BLUESTONE ADVANTAGE
Why selling through secondary agents can cost you thou$ands!
Selling real estate is a major financial decision, and something that most people do only a few times in their life, so why would you choose an agency that you don’t know and trust? Most other secondary agents focus on selling owner-occupied properties, so their lack of experience and consideration for your tenants can often result in undesirable outcomes and/or financial loss. As the primary managing agency for your property, there are several reasons why Bluestone gives you a clear advantage, that ensures that you’ll have the very best outcome possible, if you decide to market your investment property for sale:
Bluestone specialise in selling investment properties. Selling tenanted properties is usually much more difficult compared to selling owner-occupied homes, because some tenants often obstruct the sales process, particularly if they don’t know and trust the selling agent. We have first-hand experience of other secondary agents creating major problems with tenants, inspections and sale contract terms, leading to loss of rent, lower sale prices or unsold properties. 100% of the properties we have sold over the last two years are Bluestone tenanted properties. We have developed specialised marketing strategies for tenanted properties and have the experience to negotiate contract terms that achieve successful outcomes, and great prices!
We have a good ongoing relationship with your tenants. As Bluestone is the primary managing agent, your tenants are far more likely to co-operate and not vacate the property prematurely if they are treated respectfully and kept informed during a marketing campaign by the Bluestone team. Secondary selling agents simply do not have the same relationship with your tenants. Bluestone also has a far greater ability to influence your tenants to present the property well and allow access for buyer inspections, compared to other secondary agents. So Bluestone’s relationship with your tenants gives our sellers a crucial advantage, because having good access to a tidy property greatly increases the chances of good inspections, and higher offers.
Bluestone Property is a partner of the original developer of many complexes. As such, Bluestone also has a unique relationship with the builder and Body Corporate for many complexes. This means that Bluestone can provide invaluable professional advice to sellers and buyers, because we are often successful in negotiating with the builder to facilitate the rectification of any building defects, should any defects be reported during pre-purchase inspections.
You already trust Bluestone to manage your property and receipt tens of thousands of dollars for you annually. Our team have integrity and strive to provide a quality service. We have a strong moral culture, and happy clients are our priority.
We have a dedicated Sales Specialist. Our Sales Manager, Joe Hawes, has 18 years of industry experience as a Licensed Real Estate Sales Agent, and as a Strata/Body Corporate Manager. His sole purpose is to assist Bluestone clients who are considering selling their investment property. Joe can provide you with professional, impartial, obligation-free advice on your property in today’s market and can offer you tailored solutions to suit your individual objectives, whether you decide to sell or keep your investment.
You need a strong negotiator. When selling your property, you need an assertive, experienced, skilled negotiator who communicates well at all levels, has advanced marketing strategies, the ability to win the trust of tenants and buyers, defend the value of the property, and persuade buyers to pay more than their typical price expectation. This is where Joe can make you many thousands of dollars more than an ordinary salesperson.
Joe Hawes | Sales Manager | ph: 0405 045 381 | email: [email protected]
Bluestone Property Management & Sales is the real estate agent that savvy Investors use when renting out their rental property/properties in Brisbane Queensland (QLD). Why because Bluestone’s Property Managers maximise the rental yield and minimise the stress involved in managing their units, apartments, townhouse and houses. Additionally, Bluestones Property Management Fees (commission charges) provide excellent value for money, so if things aren’t stacking up with your current agency give the Team at Bluestone a call.
WHY BRISBANE WILL OUTPERFORM AND RECOVER QUICKER THAN SYDNEY AND MELBOURNE MARKETS
There is always someone willing to manage your property cheaper, and you get what you pay for!
The Hidden Costs Of Moving House
Should we sell with a tenant in place or vacant?
WARNING!!! – Cheap Property Managers Can End Up Being Very Expensive!
WARNING!!! – Cheap Property Managers Can End Up Being Very Expensive!
Disclaimer The information provided by Bluestone Property Management is of a general nature only and is not intended to constitute legal advice under any circumstances. Individuals should consider their own circumstances before proceeding to rely upon any information provided by Bluestone Property Management. Whilst care has been taken in best practice advice provided, and the information contained in it has been obtained from sources that Bluestone Property Management believe to be reliable, Bluestone Property Management (including its directors, officers, employees and contractors) does not warrant, represent or guarantee the accuracy, completeness or fitness for purpose of that information. Bluestone Property Management (including its directors, officers, employees and contractors) accordingly does not accept any responsibility, liability, loss or damage whatsoever resulting from the use of the information provided. By using the services of Bluestone Property Management, Clients acknowledge that they have read, understood and accepted this disclaimer of liability.
KELVIN GROVE RENTAL MARKET SNAPSHOT
The post THE BLUESTONE ADVANTAGE appeared first on Bluestone Property Management & Sales.
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Kelvin Grove Market Snapshot
We’re experiencing unforeseen circumstances outside our control, so we’ve invested a lot of time into investigating and researching the local market and compiling the facts and data below and attached report so you can make educated, well-informed and strategic decisions. The information and situation are overwhelming, so please let me know if you have any questions.
Kelvin Grove Market Snapshot
COVID’s most significant impact on the market is the inner city unit market with Airbnb and Hotels converting from short term to long term accommodation. The sudden influx of stock has significantly diluted the market with supply far outstripping demand.
There are currently 4 other similar units advertised for rent in your building*.
There are presently 113 units advertised for rent in the suburb of Kelvin Grove*.
*https://www.realestate.com.au/rent/property-unit+apartment-in-kelvin+grove,+qld+4059/list-1?includeSurrounding=false&source=refinement
The attached Current market Analysis report details 34 directly comparable properties (1-2 bed, 1-2 Bath and 0-1 Car) currently advertised for rent within 500m.
The snip below (bottom) shows how the Median Asking Rents and Indicative Gross Rental Yield dropped off due to COVID with owners like you and agents like Bluestone experiencing first hand that the trends have continued which will be confirmed when CoreLogic update the data.
Quest Hotel is possibly about to give us another 20 – 34 units to rent at 10 – 20% below market value**.
Suburb Snapshot
The following statistics apply to Units in KELVIN GROVE*
Median Days on Market is 46 days vs. Brisbane 23 days.
Kelvin Groves Vacancy Rate of 4.9% vs Brisbane’s 2.2%
Median Asking Rent for KELVIN GROVE is $402 per week vs. Brisbane $400.
*Statistics are calculated over a rolling 12 month period.
Ultimately whether property rents or not all comes down to the rent that you instruct us to advertise, and with Supply and Demand dictating rents, investors must meet the market on price and list at market value**.
**What is Market Value? – “The highest price a Ready, Willing and Able ‘Tenant’ will pay, when not forced to ‘rent’ from a Ready, Willing and Able ‘Investor’ not forced to ‘Rent’ for a property that has been adequately Exposed to the Open Market.” – Spencer vs. The Commonwealth 1907 (‘sales’ references converted to ‘rental’).
The Rental Comparison Case Study below:
Uses reliable data to show the financial benefits to advertising property for a lower rent subsequently renting it out sooner than trying to achieve a higher rent consequently taking longer to rent the property, i.e. Lower weekly rent with short vacancy period = more income Vs higher weekly rent with long vacancy period = less income.
Highlights the difference between pricing strategies, i.e. high rent = low occupancy = lower yields/returns Vs lower rent = high occupancy = higher returns/yield:
Bluestone Property Management & Sales is the real estate agent that savvy Investors use when renting out their rental property/properties in Brisbane Queensland (QLD). Why because Bluestone’s Property Managers maximise the rental yield and minimise the stress involved in managing their units, apartments, townhouse and houses. Additionally, Bluestones Property Management Fees (commission charges) provide excellent value for money, so if things aren’t stacking up with your current agency give the Team at Bluestone a call.
Investment Regards,
Mark Shorrock
Managing Director & Principal Licensee
Bluestone – Property Management For Wealth Creation
M: 0439 979 095 | [email protected]
Office Mobile (call or text): 0422 676 416
3/269 Abbotsford Road, Bowen Hills Q 4006
WHY BRISBANE WILL OUTPERFORM AND RECOVER QUICKER THAN SYDNEY AND MELBOURNE MARKETS
There is always someone willing to manage your property cheaper, and you get what you pay for!
The Hidden Costs Of Moving House
Should we sell with a tenant in place or vacant?
WARNING!!! – Cheap Property Managers Can End Up Being Very Expensive!
WARNING!!! – Cheap Property Managers Can End Up Being Very Expensive!
Disclaimer The information provided by Bluestone Property Management is of a general nature only and is not intended to constitute legal advice under any circumstances. Individuals should consider their own circumstances before proceeding to rely upon any information provided by Bluestone Property Management. Whilst care has been taken in best practice advice provided, and the information contained in it has been obtained from sources that Bluestone Property Management believe to be reliable, Bluestone Property Management (including its directors, officers, employees and contractors) does not warrant, represent or guarantee the accuracy, completeness or fitness for purpose of that information. Bluestone Property Management (including its directors, officers, employees and contractors) accordingly does not accept any responsibility, liability, loss or damage whatsoever resulting from the use of the information provided. By using the services of Bluestone Property Management, Clients acknowledge that they have read, understood and accepted this disclaimer of liability.
The post Kelvin Grove Market Snapshot appeared first on Bluestone Property Management & Sales.
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There is always someone willing to manage your property cheaper, and you get what you pay for!
Discount providers appear attractive & have to offer cheap fees to lure & secure new business + they hide $ in the fine print vs Bluestones open & transparent fees.
It’s unsustainable to charge management fees less than 7.5% in QLD, so investors must consider the sustainability of discount providers.
Cost-cutting agencies can’t afford staff experienced at mitigating your loss or for the essential tools required to manage & increase the value of your property.
Cheap discount agencies cut corners to make money, e.g. tenant selection, inspections, maintenance, reporting, and chasing your rent.
Reduced fees seem good, but you think you’re saving $4 a week only for it to end up costing you $10 a week in hidden costs!
Bluestone will make you more money than you are trying to save with high rent low vacancy periods.
Cut-rate fees usually cost investors a lot more money in the long run than are trying to save so some food for thought:
At your expense, cheap agents advertise rents below-market value making them easier to rent.
Poor management affects property value costing you tens of thousands of dollars in lost equity when it comes time to refinance or sell.
Invest in a quality property manager – it’s much cheaper than learning from your mistakes.
Bluestone Property Management & Sales is the real estate agent that savvy Investors use when renting out their rental property/properties in Brisbane Queensland (QLD). Why because Bluestone’s Property Managers maximise the rental yield and minimise the stress involved in managing their units, apartments, townhouse and houses. Additionally, Bluestones Property Management Fees (commission charges) provide excellent value for money, so if things aren’t stacking up with your current agency give the Team at Bluestone a call.
Investment Regards,
Mark Shorrock
Managing Director & Principal Licensee
Bluestone – Property Management For Wealth Creation
M: 0439 979 095 | [email protected]
Office Mobile (call or text): 0422 676 416
3/269 Abbotsford Road, Bowen Hills Q 4006
https://bluestonepm.com.au/wp-admin/post.php?post=6614&action=edit
The Hidden Costs Of Moving House
Should we sell with a tenant in place or vacant?
WARNING!!! – Cheap Property Managers Can End Up Being Very Expensive!
WARNING!!! – Cheap Property Managers Can End Up Being Very Expensive!
Disclaimer The information provided by Bluestone Property Management is of a general nature only and is not intended to constitute legal advice under any circumstances. Individuals should consider their own circumstances before proceeding to rely upon any information provided by Bluestone Property Management. Whilst care has been taken in best practice advice provided, and the information contained in it has been obtained from sources that Bluestone Property Management believe to be reliable, Bluestone Property Management (including its directors, officers, employees and contractors) does not warrant, represent or guarantee the accuracy, completeness or fitness for purpose of that information. Bluestone Property Management (including its directors, officers, employees and contractors) accordingly does not accept any responsibility, liability, loss or damage whatsoever resulting from the use of the information provided. By using the services of Bluestone Property Management, Clients acknowledge that they have read, understood and accepted this disclaimer of liability.
The post There is always someone willing to manage your property cheaper, and you get what you pay for! appeared first on Bluestone Property Management & Sales.
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WHY BRISBANE WILL OUTPERFORM AND RECOVER QUICKER THAN SYDNEY AND MELBOURNE MARKETS
Last year key economist and industry experts forecast Brisbane to top growth with about 22% over the next 3 years with other markets stabilising. Late last year and early this year Brisbane started recording growth. COVID impacted markets with most markets experiencing negative growth. However, local and interstate buyer confidence in Brisbane’s market is helping keep supply and demand in check and resulting in neutral to slightly positive growth. Additionally, for the reasons mentioned above, Brisbane’s market is forecast to rebound quicker than other markets.
Some of the reasons: Brisbane has pretty much missed two uplift cycles. Also, the disparity between Brisbane and Sydney/Melbourne has never been higher and is unsustainable.
Interstate buyers are trying to avoid local lockdowns and purchase property where COVID is mostly under control.
We are related to a property development company and experiencing this first hand, though there is plenty of supportive independent commentary and hard data available supporting this.
Some of the reasons: Brisbane has pretty much missed two uplift cycles. Also, the disparity between Brisbane and Sydney and Brisbane and Melbourne has never been higher and is unsustainable.
As we say…Why holiday where you can live!
Bluestone Property Management & Sales is the real estate agent that savvy Investors use when renting out their rental property/properties in Brisbane Queensland (QLD). Why because Bluestone’s Property Managers maximise the rental yield and minimise the stress involved in managing their units, apartments, townhouse and houses. Additionally, Bluestones Property Management Fees (commission charges) provide excellent value for money, so if things aren’t stacking up with your current agency give the Team at Bluestone a call.
Investment & Sales Regards,
Mark Shorrock
Managing Director & Principal Licensee
Bluestone – Property Management For Wealth Creation
M: 0439 979 095 | [email protected]
3/269 Abbotsford Road, Bowen Hills Q 4006
The Hidden Costs Of Moving House
Should we sell with a tenant in place or vacant?
WARNING!!! – Cheap Property Managers Can End Up Being Very Expensive!
WARNING!!! – Cheap Property Managers Can End Up Being Very Expensive!
Disclaimer The information provided by Bluestone Property Management is of a general nature only and is not intended to constitute legal advice under any circumstances. Individuals should consider their own circumstances before proceeding to rely upon any information provided by Bluestone Property Management. Whilst care has been taken in best practice advice provided, and the information contained in it has been obtained from sources that Bluestone Property Management believe to be reliable, Bluestone Property Management (including its directors, officers, employees and contractors) does not warrant, represent or guarantee the accuracy, completeness or fitness for purpose of that information. Bluestone Property Management (including its directors, officers, employees and contractors) accordingly does not accept any responsibility, liability, loss or damage whatsoever resulting from the use of the information provided. By using the services of Bluestone Property Management, Clients acknowledge that they have read, understood and accepted this disclaimer of liability.
The post WHY BRISBANE WILL OUTPERFORM AND RECOVER QUICKER THAN SYDNEY AND MELBOURNE MARKETS appeared first on Bluestone Property Management & Sales.
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The Hidden Costs Of Moving House
Before moving, it’s worthwhile considering it cost the average person over $5,000!!!
Cost To Move Rental Property Case Study
“Finding a new home can be fun, sometimes … but moving house is the worst. It is one of the most disruptive, stressful and chaotic of life experiences. It can also be really expensive. I packed up my life and moved to a new apartment last week, so while the pain is still fresh in my mind, here’s a list of everything you will need to factor into your budget when planning your next move.” – By Cassandra Byrnes
Item Cost Comments Moving Boxes -$200 Unless you have been hoarding boxes Bond Cleaning -$660 You can clean it yourself if you can find the time Removalists -$900 Hahaha you have to read our blog post to appreciate this cost Take Away Food -$570 + weight gain Time off Work -$450 you could have spent these precious days drinking G&Ts by the pool instead Random Stuff -$200 + relationship counselling + a scratched-up car and damaged garden New Bond* -$1,700 We know you’ll return the property cleaner than you found & get a full bond refund 2 Weeks Rent Paid Upfront -$850 Rent in advance doesn’t exist unless you pay 4 weeks upfront & always stay 2 weeks in front Total Cost to Move $5,530 *Ideally, you’ll get your old Bond back but until then it’s a temporary out of pocket expense.
Read the full article by Cassandra Byrnes: https://www.domain.com.au/news/the-hidden-costs-of-moving-house-20160115-glq376/
Bluestone Property Management & Sales is the real estate agent that savvy Investors use when renting out their rental property/properties in Brisbane Queensland (QLD). Why because Bluestone’s Property Managers maximise the rental yield and minimise the stress involved in managing their units, apartments, townhouse and houses. Additionally, Bluestones Property Management Fees (commission charges) provide excellent value for money, so if things aren’t stacking up with your current agency give the Team at Bluestone a call.
Investment & Sales Regards,
Mark Shorrock
Managing Director & Principal Licensee
Bluestone – Property Management For Wealth Creation
M: 0439 979 095 | [email protected]
3/269 Abbotsford Road, Bowen Hills Q 4006
Should we sell with a tenant in place or vacant?
WARNING!!! – Cheap Property Managers Can End Up Being Very Expensive!
WARNING!!! – Cheap Property Managers Can End Up Being Very Expensive!
Disclaimer The information provided by Bluestone Property Management is of a general nature only and is not intended to constitute legal advice under any circumstances. Individuals should consider their own circumstances before proceeding to rely upon any information provided by Bluestone Property Management. Whilst care has been taken in best practice advice provided, and the information contained in it has been obtained from sources that Bluestone Property Management believe to be reliable, Bluestone Property Management (including its directors, officers, employees and contractors) does not warrant, represent or guarantee the accuracy, completeness or fitness for purpose of that information. Bluestone Property Management (including its directors, officers, employees and contractors) accordingly does not accept any responsibility, liability, loss or damage whatsoever resulting from the use of the information provided. By using the services of Bluestone Property Management, Clients acknowledge that they have read, understood and accepted this disclaimer of liability.
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Should we sell with a tenant in place or vacant?
We’re often asked, “Should we sell with a tenant in place or vacant?”:
Vacant properties are appealing to owner occupies, but less attractive to investors!
A tenanted property is more attractive to investors, though less appealing to owner-occupiers!
We generally suggest investors try to sell the property with the tenant in place because this strategy typically mitigates the loss of rental income while maximising the sale potential, i.e. highest price in the shortest possible time frame.
Your Options in Queensland:
It is challenging to rent a property that is advertised for sale because tenants don’t want to be inconvenienced by having to tidy their home up for regular sales inspections.
If the property is listed for sale, and the lease is due for renewal, then the tenants might not resign.
Tenants only have to give two weeks’ notice to vacate before the end of the lease.
If you list the property for sale within 60 days of the tenants signing a lease, then tenants sign can give two weeks’ notice to vacate at any time.
Tenants sign lease, you can list the property anytime after 60 days, and the tenants are locked into the remainder of the lease.
Note based on our experience and under most circumstances, we find investors benefit from Option ‘5’ creates the best possible outcomes.
“WEALTH IS THE TRANSFER OF MONEY FORM THE IMPATIENT TO THE PATIENT” – Warren Buffett
Investment & Sales Regards,
Mark Shorrock
Managing Director & Principal Licensee
Bluestone – Property Management For Wealth Creation
M: 0439 979 095 | [email protected]
3/269 Abbotsford Road, Bowen Hills Q 4006
WARNING!!! – Cheap Property Managers Can End Up Being Very Expensive!
Disclaimer The information provided by Bluestone Property Management is of a general nature only and is not intended to constitute legal advice under any circumstances. Individuals should consider their own circumstances before proceeding to rely upon any information provided by Bluestone Property Management. Whilst care has been taken in best practice advice provided, and the information contained in it has been obtained from sources that Bluestone Property Management believe to be reliable, Bluestone Property Management (including its directors, officers, employees and contractors) does not warrant, represent or guarantee the accuracy, completeness or fitness for purpose of that information. Bluestone Property Management (including its directors, officers, employees and contractors) accordingly does not accept any responsibility, liability, loss or damage whatsoever resulting from the use of the information provided. By using the services of Bluestone Property Management, Clients acknowledge that they have read, understood and accepted this disclaimer of liability.
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WARNING!!! – Cheap Property Managers Can End Up Being Very Expensive!
Pictures speak 1,000 words… there is always someone willing to manage your property cheaper, and you get what you pay for!
We understand that at first glance discount providers appear attractive. However, we encourage you to consider that there is usually a reason why these businesses need to offer ploys like this to lure and secure new business.
As yourself why do businesses have to discount their fees to secure new business? It is usually because they can’t retain business due to the poor quality of service they provide. Alternatively, they have extra fees hidden in the fine print to make up the difference between Bluestones open and transparent fees and their seemingly cheaper fees.
Real Estate Institute of Australia (REIA) research confirmed it’s unsustainable to charge management fees less than 7.5% in QLD reporting investors should be mindful of the long-term sustainability of anyone charging less than 7.5%. Why? Because cost-cutting agencies can’t afford to pay for qualified staff experienced at mitigating your loss. Discount agencies also can’t pay for the essential tools required to manage your property effectively. Plus cheap agencies can’t afford to do what’s needed to maintain the value of your property to its highest and best rental value, subsequently decreasing equity/sale price.
While we can appreciate that on the surface, reduced fees seem appealing, but the average investor only saves about $4 per week! Property managers charging low fees can’t afford to stay in business unless they cut corners on tenant selection, inspections, maintenance, reporting, and chasing your rent. Don’t fall for the trick of discounted fees when Bluestone’s quality service makes you more money than you are trying to save! Bluestone does this by achieving higher than average rents with lower than average vacancy periods, plus they maintain the property to the highest possible standard increasing rent, equity and capital value.
Owners who choose these cheap agencies regretfully discover that they end up paying more only not to receive communication, 24/7 portal access to their critical info, access to their property manager and mandatory routine inspection reports.
“The bitterness of poor quality remains long after the sweetness of low price is forgotten” – Benjamin Franklin.
Cut-rate fees usually cost investors a lot more money in the long run than are trying to save so some food for thought:
You think you’re saving $4 a week on management fees, only for it to end up costing you $10 a week in hidden charges!
Economy agents often advertise properties at below-market value rents to make them easier and quicker to rent, but the ploy comes at your expense, e.g. $20 less a week = $1,040 less every year.
Cheap agents often approve the first tenants that apply without screening them, which can result in thousands of dollars in lost rent plus additional cost to rectify cleaning and damage.
Discount providers have to cut corners to make money so they may not do basic tasks like regularly inspect the property and report on the condition and cleanliness.
Poor management, e.g. failure to bring maintenance to your attention results in the condition of the property to deteriorate along with the rent you can charge. Consequently, this affects the value of the property, costing you tens of thousands of dollars in lost equity when it comes time to refinance or sell.
“If you think it’s expensive to hire a professional to do the job, wait until you hire an amateur.” – Red Adair.
Your property is a significant investment and likely one of the most valuable assets you own. So it makes sense to invest in a quality, honest and reliable property management company. A business that maintains your property to the highest possible standard resulting in the highest possible rental yield and the highest possible sale or refinancing value.
Last but not lease please remember that – Cheap Property Managers Can End Up Being Very Expensive!
Investment Regards,
Mark Shorrock
Managing Director & Principal Licensee
Bluestone – Property Management For Wealth Creation
M: 0439 979 095 | [email protected]
Office Mobile (call or text): 0422 676 416
3/269 Abbotsford Road, Bowen Hills Q 4006
Bluestone Property Management & Sales is the real estate agent that savvy Investors use when renting out their rental property/properties in Brisbane Queensland (QLD). Why because Bluestone’s Property Managers maximise the rental yield and minimise the stress involved in managing their units, apartments, townhouse and houses. Additionally, Bluestones Property Management Fees (commission charges) provide excellent value for money, so if things aren’t stacking up with your current agency give the Team at Bluestone a call.
Disclaimer The information provided by Bluestone Property Management is of a general nature only and is not intended to constitute legal advice under any circumstances. Individuals should consider their own circumstances before proceeding to rely upon any information provided by Bluestone Property Management. Whilst care has been taken in best practice advice provided, and the information contained in it has been obtained from sources that Bluestone Property Management believe to be reliable, Bluestone Property Management (including its directors, officers, employees and contractors) does not warrant, represent or guarantee the accuracy, completeness or fitness for purpose of that information. Bluestone Property Management (including its directors, officers, employees and contractors) accordingly does not accept any responsibility, liability, loss or damage whatsoever resulting from the use of the information provided. By using the services of Bluestone Property Management, Clients acknowledge that they have read, understood and accepted this disclaimer of liability.
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How Has Coronavirus Affected The Rental Market?
Media Distancing – Rental Market Snapshot – Fast Facts Covid-19 Vs Bluestone
Media Distancing:
We should be exercising media distancing when they continue to frequently and intentionally scaremonger and sugar-coat housing industry stories. Most people have a home, so the media know these stories get attention.
Fast facts on how COVID-19 has effected Bluestone tenancies:
Governments eager to appease announced that Tenants impacted by COVID-19 should request assistance from Landlords and both parties should come to a mutual agreement.
While many Tenants mentioned financial hardship due to COVID-19, only a couple of Landlords did, but we know many more are experiencing challenges due to these unprecedented times.
Media scaremongering triggered some seemingly unaffected Tenants to request reductions in rent on lease extensions.
Several Tenants expected Landlords to waiver portions of their rent, but we said numerous Landlords are in similar positions where they rely heavily on rent to pay Mortgages, Rates, Utility Connections and Land Tax and the Banks, Councils, Utility Providers and Government are only deferring owners payments.
We had between 75 and 80 Tenants mention hardship due to Covid-19.
26 of these Tenants emailed us formalising their request for rent reductions with some requested up to 50% off.
Naturally, we notified the owners of these 26 properties.
To update affected Landlords and Tenants accordingly, we invested countless hours over many weeks researching and deciphering the information which was not only inconsistent but also frequently changing and regularly updated. Additionally, some information is ambiguous and open to interpretation leaving industry professionals like us confused.
On the 22nd of April, the QLD Government made temporary reforms (COVID-19 Emergency Response) to the Residential Tenancies and Rooming Accommodation Regulation.
New forms were legislated; the two main forms are a Show-Cause Notice and a Variation Agreement.
We send show-cause notices to Tenants in arrears who have mentioned hardship due to COVID-19.
The variation agreement is used to vary the rent on the lease contract and also establish any payment plan.
Our team designed Bluestones Covid-19 Tenant Hardship Application Forms so Landlords could make fair assessments of Tenants request for financial hardship.
Only 2 Tenants were eligible for assistance under the QLD Gov’s temp Covid-19 temporary reforms.
Please note that unless the Landlord and Tenant sign the new COVID-19 variation agreement:
The updated legislation still requires Tenants to continue meeting their financial obligations under the General Tenancy Agreement (Lease).
The Lease Tenants signed is a legally binding contract, so breaches to their financial obligations are legally enforceable.
If Tenants rent falls into arrears, the regulations require Bluestone to continue issuing arrears notifications, Notice to Remedy Breach (Form 11) and Notices to Leave (Form 12).
Do you know why the governments are pushing hard for Landlords and Tenants to work it out between themselves, and if they can’t, they are promoting the RTA’s dispute resolution conciliation service and QCAT hearings?
Other than keeping a roof over Tenants heads and Tenants in Landlords properties!
Because as we suspected you have a legally binding Contract (Lease) where the Tenant agrees to pay a stipulated amount of rent for a fixed term!
How do we know this? Because we couldn’t facilitate a rent renegotiation, we lodged for dispute resolution and conciliation with the RTA.
The RTA then called only to inform us that the RTA is not facilitating dispute resolutions or conciliating on COVID-19 rent disputes, because there is a legally binding contract for Tenants to pay an agreed amount of rent to the owner. This info somewhat also confirms that QCAT can’t adjudicate on rents stipulated on Leases, which we also suspected.
The RTA added that the RTA and QCAT could only suggest owners and Tenants agree to a reduced amount with a payment plan to pay off the difference.
The RTA issued a ‘Notice Of Unresolved Dispute’ which is required to lodge for an urgent QCAT hearing.
The waiting time for urgent hearings at QCAT is 20 weeks +.
Rental Market Snapshot
Some rents were prematurely renegotiated before the government passed and released legislation protecting Landlords triggering a decrease in rents.
Under the Government’s temporary regulations, only a relatively small number of Tenants are eligible to renegotiate rents bringing the median rental price down.
Naturally, some owners are worried about losing their Tenants, so offering or accepting reduced rents to retain Tenants further reducing median rents.
International student numbers have virtually ceased, decreasing demand.
A lot of short-term accommodation like Airbnb & hotels are already rented or advertised for long term occupation, increasing supply.
Supply is also rising because some Tenants are either sleeping on friends couches, or mum and dads’ home on beds of nails.
Despite many parents best efforts, some bunkers will take a while to give up the cheap room and board, reducing demand.
Uncertainty within the market has caused vacancy rates to increase significantly.
By 2021 (next Census) the number of renters is continuing to steadily rise with the Tenants expected to make up 40% of the Australian housing market.
Supply and demand ultimately dictate rental prices. The likely winners, in the long run, are Landlords.
With the situation continually changing, please do not rely on Bluestone to keep you updated. Ultimately it is your responsibility to keep yourself informed so you can make educated and well-informed decisions.
Image Credit and Source – https://www.michiganradio.org/post/auchters-art-lets-try-social-media-distancing
Bluestone Property Management & Sales is the real estate agent that savvy Investors use when renting out their rental property/properties in Brisbane Queensland (QLD). Why because Bluestone’s Property Managers maximise the rental yield and minimise the stress involved in managing their units, apartments, townhouse and houses. Additionally, Bluestones Property Management Fees (commission charges) provide excellent value for money, so if things aren’t stacking up with your current agency give the Team at Bluestone a call.
COVID-19 Vs AUS-PROPERTY-20 (Coronavirus Vs Australian Property Investment Market)
Webinar Video – THE SINGLE BIGGEST MISTAKE INVESTORS MAKE …and how to avoid it
Should I Manage My Investment Property Myself
Video 1: Why You Shouldn’t Choose Your Property Manager on Fee Structure Alone
Disclaimer The information provided by Bluestone Property Management is of a general nature only and is not intended to constitute legal advice under any circumstances. Individuals should consider their own circumstances before proceeding to rely upon any information provided by Bluestone Property Management. Whilst care has been taken in best practice advice provided, and the information contained in it has been obtained from sources that Bluestone Property Management believe to be reliable, Bluestone Property Management (including its directors, officers, employees and contractors) does not warrant, represent or guarantee the accuracy, completeness or fitness for purpose of that information. Bluestone Property Management (including its directors, officers, employees and contractors) accordingly does not accept any responsibility, liability, loss or damage whatsoever resulting from the use of the information provided. By using the services of Bluestone Property Management, Clients acknowledge that they have read, understood and accepted this disclaimer of liability.
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Webinar – Is Your Manager Protecting Your Rent Amid Corona?
No sensible investor would attempt to maintain an investment property without appointing a professional.
State governments have been changing laws on the run, often without thinking through the consequences.
The consequences of getting it wrong can be severe. Some investors have acted in haste, without accessing professional advice, and have made their situations worse.
The things investors need to keep up with include these:
Have the rules changed recently in the area where you own property (the answer, almost certainly, is yes)?
Are your tenants in trouble and, if so, how best to handle the situation?
What are your rights if your tenants are impacted by the virus crisis and can’t pay the rent?
How can you be proactive in engaging with tenants to head off problems before they occur?
As an investor, you can’t afford wrong answers to these and other key questions.
That’s why this webinar, featuring Mark Shorrock of Bluestone Property Management, is a must for anyone who owns an investment property.
Bluestone Property Management & Sales is the real estate agent that savvy Investors use when renting out their rental property/properties in Brisbane Queensland (QLD). Why because Bluestone’s Property Managers maximise the rental yield and minimise the stress involved in managing their units, apartments, townhouse and houses. Additionally, Bluestones Property Management Fees (commission charges) provide excellent value for money, so if things aren’t stacking up with your current agency give the Team at Bluestone a call.
Disclaimer The information provided by Bluestone Property Management is of a general nature only and is not intended to constitute legal advice under any circumstances. Individuals should consider their own circumstances before proceeding to rely upon any information provided by Bluestone Property Management. Whilst care has been taken in best practice advice provided, and the information contained in it has been obtained from sources that Bluestone Property Management believe to be reliable, Bluestone Property Management (including its directors, officers, employees and contractors) does not warrant, represent or guarantee the accuracy, completeness or fitness for purpose of that information. Bluestone Property Management (including its directors, officers, employees and contractors) accordingly does not accept any responsibility, liability, loss or damage whatsoever resulting from the use of the information provided. By using the services of Bluestone Property Management, Clients acknowledge that they have read, understood and accepted this disclaimer of liability.
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COVID-19 Vs AUS-PROPERTY-20 (Coronavirus Vs Australian Property Investment Market)
Mark Shorrock, Managing Director of Bluestone Property Management & Sales, is a second-generation agent with over 21 years of hands-on industry experience. Please find Mark’s opinions on the effects of COVID-19 and the property market below:
Misinformation is spreading quicker than the COFID-19, creating what I call the Illusory Truth Effect Virus!!!
China sneezes, and the Australian property market catches CODID-19. Still, Brisbane should only catch a cold when key economist and property experts forecast Brisbane to be somewhat insulated from the general market downturn.
Brisbane’s Clearance Rate on the 15th of Feb 2020 was 64%, almost double the same time last year (38%).
Fewer tenants will change rental properties so that investors won’t experience usual vacancy periods = higher returns.
Some tenants might experience challenges paying rent, consequently creating issues for investors meeting mortgage repayments. Government stimulus packages will help but take time, so hopefully, banks follow suit.
Roughly 40% of our population rent, vastly more than government housing can accommodate, creating favourable demand for investment properties.
Low market confidence creates life-changing opportunities for investors.
Herd mentality will provide savvy investors with the opportunity to purchase cheaper investment properties, increasing their portfolio and creating more wealth.
5 other global events have come and gone with accompanying stockmarket gyrations but no real impact on property:
Bird flu 2015
Swine flu 2009-10
GFC – 2008-9
SARS -2002-3
9/11 – 2001
China limits funds leaving the country, which caused foreign investment to plunge 58% ($17B) in the 2017/18 fiscal year. Travel bans will undoubtedly compound this.
On the other side, the virus has made Chinese feel susceptible, which could trigger mass migration and a resurgence of strong demand from foreign Chinese buyers. However, China’s economy is still recovering, so the government might continue to restrict overseas investment.
History confirms that from crisis comes opportunity, i.e. Savvy investors will purchase more investment properties increasing their portfolio and creating more wealth.
Markets in general, but mainly the stock market will experience only one more major global health crisis like this before share traders are far less reactive.
The volatile share market – a snapshot of the past 40 years: 12 + 10% or more corrections (some 20%+), plus 5 recessions (one we had to have) with 2 quarters of negative growth! The Australian stock market is currently down 17%, which is close to January 2019 levels and not much better than its peak pre-2008 GFC.
Still, Sydney and Melbourne doubled in value over the last 10 – 12 years. The disparity between these two capital cities and Brisbane has never been greater in recorded history, which is one of the primary reasons economists forecasted Brisbane to lead Australia’s recovery.
The market in general, but mainly the stock market only has one more major global crisis like this in it before share traders ignore.
With information overload events like this pass quickly plus the Gov and RBA stimulus will impact late in 2020 & early 2021, so be ready for relatively good market conditions. Especially with rates at 0.25%, borrowing at 3% & rents at 5%, e.g. for a $450k investment you’ll take home another $9kpa – like a $15k pay rise!!! This is a once in a lifetime opportunity.
“I have mentioned many times over the past 21 years where I can read in the newspapers or on websites, in just one day, the real estate market is going up, down and even sideways. My thought is that overall it will generally continue to increase over time as it has a history of doing.” – Mark Shorrock.
In closing my advice is to diagnose before prescribing like a doctor, i.e. invest the time into researching your situation, make educated, well informed, calculated and strategic decisions.
I’ll leave you with one of my favourite quotes “You can’t stop the waves, but you can learn to surf” – Jon Kabat-Zinn
BLUESTONE – PROPERTY MANAGEMENT FOR WEALTH CREATION
Bluestone Property Management & Sales is the real estate agent that savvy Investors use when renting out their rental property/properties in Brisbane Queensland (QLD). Why because Bluestone’s Property Managers maximise the rental yield and minimise the stress involved in managing their units, apartments, townhouse and houses. Additionally, Bluestones Property Management Fees (commission charges) provide excellent value for money, so if things aren’t stacking up with your current agency give the Team at Bluestone a call.
Webinar Video – THE SINGLE BIGGEST MISTAKE INVESTORS MAKE …and how to avoid it
Should I Manage My Investment Property Myself
Video 1: Why You Shouldn’t Choose Your Property Manager on Fee Structure Alone
The post COVID-19 Vs AUS-PROPERTY-20 (Coronavirus Vs Australian Property Investment Market) appeared first on Bluestone Property Management & Sales.
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Webinar Video – THE SINGLE BIGGEST MISTAKE INVESTORS MAKE …and how to avoid it
A Live Panel Discussion with some of Australia’s leading property experts
Most investors make one big mistake – and all other mistakes flow from this one fundamental error – not spending the time and money to do the necessary research.
Property investment has been described as a “mugs game” in a recent media article, because so many small investors fail to achieve the outcomes they had hoped for. But you will get a poor result if you don’t do your preliminary research – spending sufficient time yourself and getting quality information from a range of experts in property and finance.
If you fail to do this research you will end up buying the wrong property, for the wrong price in the wrong location.
Join us for a live panel discussion moderated by Terry Ryder of Hotspotting.
Joining him are Rich Harvey of Propertybuyer, Mark Shorrock of Bluestone Property Management & Sales, Peter Foldes of Washington Brown Depreciation and James Dawson of the Commercial Investing Academy.
The panel discuss the importance of treating property investment as a business not a hobby – and what you need to do to be successful and join the 1% of investors with multiple investment properties.
Bluestone Property Management & Sales is the real estate agent that savvy Investors use when renting out their rental property/properties in Brisbane Queensland (QLD). Why because Bluestone’s Property Managers maximise the rental yield and minimise the stress involved in managing their units, apartments, townhouse and houses. Additionally, Bluestones Property Management Fees (commission charges) provide excellent value for money, so if things aren’t stacking up with your current agency give the Team at Bluestone a call.
Here Are Some Of Our Favourite Property Investment Related Quotes
Video 1: Why You Shouldn’t Choose Your Property Manager on Fee Structure Alone
Should I Manage My Investment Property Myself
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Should I Manage My Investment Property Myself
Owning an investment property is only the first step in being a property investor. The next step will be managing the property.
We have previously discussed the required skillset in successfully managing an investment property. Actually, you can choose to do the job yourself or hire a professional property manager for the task.
At first, it may seem like an excellent idea to handle your own property and retain full control over costs, occupants and earnings. Nevertheless, self-management can often be a headache: when something breaks down or your occupants are late with rental payments, you bear the sole duty to address it.
You may think that you are saving money by being the manager of your own property, but it’s not always the case, especially if you do not possess the essential skills. For example, you need to be knowledgeable about the regulations and legislation concerning tenants.
Many successful property investors do not consider managing their properties themselves because they know that the stakes are too high. They maximise the services provided by professional property managers to ensure that the asset is maintained to its highest value possible and that the maximum yield is acquired.
It’s just like hiring a mechanic to maintain and to take care of your car. Your investment property is possibly one of your most valuable assets, so why think twice about hiring a professional property manager for your investment portfolio?
Further, management fees are tax-deductible, yet another advantage to engaging a professional property management service to manage your valuable asset.
If you have any questions relating to property management or if you are interested in Bluestone Property Management & Sales managing your investment property please give me a call on 0439 979 095.
Investment Regards
Mark Shorrock Managing Director
Bluestone Property Management & Sales
P.S. One of the best strategies used by experienced property investors is to regularly review the health of their property investments. Leverage my knowledge and experience and take advantage of my FREE (normally $499) no obligation Property Health Check and a complimentary consultation.
Simply email me today and schedule a suitable time.
Get Health Check
Bluestone Property Management & Sales is the real estate agent that savvy Investors use when renting out their rental property/properties in Brisbane Queensland (QLD). Why because Bluestone’s Property Managers maximise the rental yield and minimise the stress involved in managing their units, apartments, townhouse and houses. Additionally, Bluestones Property Management Fees (commission charges) provide excellent value for money, so if things aren’t stacking up with your current agency give the Team at Bluestone a call.
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Video 1: Why You Shouldn’t Choose Your Property Manager on Fee Structure Alone
One of the most common questions we’re asked is: What is your fee structure? Or, how much do you charge? And, it’s to be honest with you a little bit frustrating from our perspective, because we can see that it’s actually the wrong question to ask. And when I’m trying to offend people when we say that but, if the biggest mistake most people make is they focus on the fee structure alone. And they choose the agent who’s got the lowest fee the one they also think is least capable of actually managing their property effectively for them.
And I sort of coined a phrase “A cheap property manager can be very expensive “, and by that I mean through a few examples is: poor tenant selection, you know rental arrears those tenants go on caused damage to the property over and above fair wear and tear, and they leave the property. I mean, rent the damage and cleaning can actually cost you two to three years’ worth of management fees.
So, we find owners around shopping you know investors shopping for what’s often the difference in about five dollars a week in management fees you know between us and somebody else. And they make these poor decisions and they go with agents who do a pool where you get what you pay for, and they do a poor job of managing the property. Now, the investment properties are one of the most valuable things people own, so why would you go and spend half a million dollars on purchasing the property to then turn around and skimp on paying for someone to manage that asset for you.
It’s an investment in good property manager is the key. Someone’s going to maintain that property to its highest and best value, put good quality tenants in there at a good rent that is stay minimal wear and tear. And create a high yield for you, often making you more, a lot more money than you’ll save, by picking an agent than cheap fees alone.
Bluestones Emergency Repairs Procedure
Selling through another agent could cost you thousands!
Selling And Buying Again Can Be Costly For Investors
Bluestone Property Management & Sales is the real estate agent that savvy Investors use when renting out their rental property/properties in Brisbane Queensland (QLD). Why because Bluestone’s Property Managers maximise the rental yield and minimise the stress involved in managing their units, apartments, townhouse and houses. Additionally, Bluestones Property Management Fees (commission charges) provide excellent value for money, so if things aren’t stacking up with your current agency give the Team at Bluestone a call.
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Caution: storms, floods and cyclones ahead!
Storm season is already well underway in Queensland after wild weather lashed parts of south-east Queensland in October.
In the aftermath of extreme weather events, tenants and property managers/owners are urged to make contact early and discuss arrangements for cleaning up and making repairs.
Residential Tenancies Authority (RTA) Chief Executive Officer Jennifer Morgan said maintaining open communication is key to ensuring the best outcome for everyone after events like storms, cyclones and flooding.
“Property managers/owners have a legal responsibility to make sure the rental property is safe and fit to live in,” Ms Morgan said.
“They are responsible for the repairs and maintenance necessary to bring the property back to a livable condition, which should also comply with health and safety laws.”
Obligations for repairs and maintenance apply to building structures, fences, large trees, pools and any other inclusions.
“Tenants should alert the property managers/owners of any repairs or maintenance needed to minimise damage to the property, and where damage is caused by severe weather events, tenants should remove and clean up their own possessions,” she said.
Although tenants are responsible for insuring their own possessions, property managers/owners may need to make insurance claims for damage to the property after adverse weather events. Keeping lines of communication open with the tenant during this time of recovery and informing them each step of the way is good practice.
Everyone involved in a tenancy should plan ahead for storm season. The RTA has a variety of information to help tenants and property managers/owners manage severe weather events, including a webinar on preparing for storm season and a natural disasters fact sheet.
Find out more about requirements for the condition of a rental property and repairs in a rental property by phoning the RTA direct on 1300 366 311.
This information has been sourced from www.rta.qld.gov.au
Sourced article | RTA link HERE
Bluestones Emergency Repairs Procedure
Selling through another agent could cost you thousands!
Selling And Buying Again Can Be Costly For Investors
Bluestone Property Management & Sales is the real estate agent that savvy Investors use when renting out their rental property/properties in Brisbane Queensland (QLD). Why because Bluestone’s Property Managers maximise the rental yield and minimise the stress involved in managing their units, apartments, townhouse and houses. Additionally, Bluestones Property Management Fees (commission charges) provide excellent value for money, so if things aren’t stacking up with your current agency give the Team at Bluestone a call.
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