How to guarantee apartment success
How to guarantee apartment success
TA:29 Tenants and Owners in a Covid-19 world
Firstly I hope this finds you and your loved ones well and successfully working your way through all of the challenges Covid-19 is creating for all of us.
Over the last 2 weeks there has been lots of announcements from the government and industry bodies about changes in response to our living, working and financial arrangements. The federal and state governments have been very active is getting financial support measures in place such as the Job Keeper and Job Seeker packages as well as concessions for business to help keep people in work.
One area that has so far eluded government changes is the arrangement for residential tenants and landlords and how they should deal with the challenges being thrown up. Save for a statement that residential tenants can not be evicted for 6 months from issues resulting from Covid-19 they have postponed any decision on this but we understand they hope to announce some initiative soon.
To find out what is going on right now I have gone to the front line and asked Property Management (PM) experts Kelly Thomas and Kirsten Braiuka what they are seeing and hearing right now from tenants and landlords and what is their advice to each.
Kelly is the Director of PM and Kirsten is the team Leader of PM at Wood Property and they both have significant experience in PM but admittedly haven’t experienced a global pandemic before. Fortunately they are fasts learners and bring a healthy serve of human compassion mixed with a deep understanding of the legislation to find solutions.
TA:28 Coronavirus & 6 themes impacting the Apartment Market
Mr Leigh Warner leads JLL apartment market research in Australia and in addition to his recent paper on the state of the market in Melbourne and Sydney, he has identified 6 themes driving the apartment market in 2020 plus global economic issues like the Coronaviris.
There are both immediate and longer term issues but all will directly impact how apartments perform from both a capital and rental value throughout the year and beyond.
The 6 themes Leigh identified specifically are;
Sydney and Melbourne's resurgence will slow
Non Syd & Melb markets to steadily improve over the medium term.
Under-supply calls to get louder and louder
Off-the-plan sales to stay muted (except WA)
More regulatory competition between the state.
Global uncertainties to remain the wild card.
Read the full paper here and I am very keen to hear your thoughts.
TA:27 Would you like a guaranteed sale price?
One of the greatest challenges for many sellers of real estate is what happens if we don't get our price or worse still... it doesn't sell at all. Adding to that stress is if you have already bought your next home committing yourself financially so you have double the exposure to the market.
What about if you could get a guaranteed sale but were still able to go to market to see if you can do better? Well they do. It is called Brickfloor.
Dean Fraser is the Founder and CEO of Brickfloor which is a really exciting new offer in real estate. Brickfloor agree a guaranteed sale price with you giving you confidence to step out into the market to sell your home with a sale already in your back pocket. Nice eh!
This means you can buy your next home before selling your current home with comfort of your fall back position.
TA:26 Do you need landlord insurance?
One of the keys to having a sucessful investment property is getting all the little things right. Some of them like landlord insurance don’t make for riveting dinner party conversation, but are very important to understand and have in place.
Landlord insurace for apartments is a bit different from houses. For a start it is part of a larger building and has many other residents and owners all around it.
What does it cover? How much does it cost? Am I paying for the tenants insurance? What happens if my tenant wrecks the place and takes off?
Roy Garcia is the Executive relationship manager in Victoria for EBM RentCover has a very solid understanding of this topic and cuts to the chase on all these questions and other things you need to know.
Talking Apartments and its sponsor Wood Property Partners are not endorsing or specifically recommending EBM RentCover and you are encouraged to do your own research to find the insurance cover that is right for you, your circumstances and your property.
RentCover policies are issued by QBE
Before deciding to buy insurance, download the Product Disclosure Statement available on the RentCover.com.au
All advice given in this chat is general advice only
TA:25 How Domain reads the apartment market
While the spring selling season tends to drive the housing market, the apartment market doesn’t like to miss a good party and this year, it is getting picked up for the ride. Spring has sprung early and values are on the move.
Trent Wiltshire is an economist at Domain focusing on the property market and housing policy. As you will hear he has some good news for both house and apartment owners.
While the amount of property being offered for sale is lower than this time last year, Auction clearance rates have picked up in the last month. And so has the number of people attending inspections which Trent can see from his access to inspection data.
See the latest Domian research here
Trent’s experience of 4 years at the Reserve Bank of Australia and 3 years at the Grattan Institute positions him very well to read the more macro economic signals and overlay it with the latest property data coming out of Domain to form a view on how the apartment market will play out over the next 2 to 3 years and shares it will us here.
TA:24 Former Pro Cyclist on why bikes are great for apartments
For 10 years from the mid 80's Stephen Hodge was one of Australia's leading professional cyclists racing in Europe competing in 6 x Tour de France, 4 x Giro d'Italia (Tour of Italy) and 2 x Vuelta a Espana (Tour of Spain). Through the work he and others have done on and off the bike he has helped pave the way for male and female Australian cyclists to win not only the Tour de France but many other prestigious races around the world.
Stephen continues to champion cycling - but this time it's for everyone, and he does this in his role as Director - National Advocacy with We Ride Australia. He is working for you even if you don't ride a bike.
That's right... because even if you don't ride a bike, the case for safer cycling that Stephen espouses, means there will be less cars on the road, which means less congestion and money needed for new roads, plus a happier, healthier community which lightens the load on hospitals due to the health benefits cycling brings, plus many other benefits. And that is good for everyone.
Stephen shares his international observations where commuting by bike is well entrenched and brings hugh community benefits to everyone.
So why don't more people ride a bike for those small trips for work, school, friends, or just the bread and milk? Tune in and find out...