Don’t be fooled by price $$$. IT IS NO JOKING MATTER!

When you are looking to sell or rent your property, many smart property owners take the time to do their homework and research the market

They may research prices in the local newspaper, visit national property websites or invite several salespeople or property managers to the property to submit an appraisal.

These activities are all very beneficial to determine the price for a property BUT "Don¡¯t be fooled by price $$$".

Often the advertised price may not be a true indication of the property¡¯s value. The property owners may be asking $699,000 or $600 per week rent, but is this a realistic price for the property and a reflection of the current market supply and demand?

The most important information that you need to gather and questions to ask are:

How long has the property been marketed and advertised for?

What have been the recent prices for sales and properties let?

A property that is not priced in accordance with the market can often cost you money.

If you are selling and need a quick sale an unrealistically priced property can cost you additional interest and lose potential buyers.

If you are renting your property, an unrealistic rent can lead to long- term vacancy periods that can have a greater financial loss to you than the extra $40 per week in rent.

You also need to BEWARE of agents who are prepared to tell you want you want to hear¡­ just to get the listing.

When considering selling or renting your property we strongly recommend that you do your homework, research the market and ask relevant questions in regards to the price.

TIP: Negotiating Tenancy Terms

When letting rental properties most associate the term period to a six or 12-month tenancy.

There is no law that states that you can only enter into a six or 12-month tenancy.

It can often be prudent to negotiate an eight-month or 11-month tenancy to maximise your income.

If your property has a pool and you are renting the property in January you would not want to enter into a six-month tenancy as the property may become vacant in winter, making it more difficult to secure a tenant.

It is also financially beneficial to try and have the tenancy agreement expire during a high tenant-demand period (such as January or February) to reduce vacancy periods and obtain the highest possible rent.

When negotiating tenancy terms our office will take into consideration all of the market conditions to ensure that we are entering into an agreement that will maximise your income.

PLEASE LET OUR OFFICE KNOW IF YOU HAVE UPDATED YOUR CONTACT DETAILS

Property Presentation

GOOD LOOKS DO COUNT!

What type of tenant do you want to attract to your property?

You should never underestimate how important property presentation is to the tenancy selection process. Good quality, clean and tidy tenants are normally attracted to good quality, clean and tidy properties. A property that appears a little run down or that could do with a clean will generally not appeal to those tenants who take their property care seriously.

Worse still, poorly presented properties may attract tenants who have little regard for property care and presentation, because they think that people are less likely to notice if they are not caring for the property.

Property presentation is important and you may need to consider a scheduled spruce-up in between tenancies to ensure that everything is looking fresh and inviting.

FROM OUR PROPERTY MANAGEMENT TEAM

Do you need a holiday or time out?

Did you know that if you have to travel to your property or are an interstate or oversees owner ¨C visiting your rental property can be a tax deduction as well as an opportunity to take some time out.

With the end of financial year approaching, now is the time to decide if you would like to take advantage of the tax benefits for visiting your property.

For detailed information on the tax benefits and to find out what you can claim, please contact your accountant or the ATO.

If you would like to inspect your property, it is important to let our office know so that we can issue the appropriate notices to the tenant to allow you access.