According to the The Real Estate Institute of Victoria (REIV) :- The proportion of vacant properties in metro Melbourne remained at 2.3% in March 2020, compared to 2.2% in December 2019. The proportion of vacant properties in regional Victoria rose again moving from 1.7% in December 2019 to 1.9% in March 2020. The weekly median rent for houses in metropolitan Melbourne decreased by $10 from...
Depending on where mould in an investment property can be an issue all year round. In this article we explain some general points to help avoid the build up of mound in your investment property. What is mould? Mould and mildew are a form of funghi. They thrive and grow with built up moisture. Overtime a property may get damp, dark and poorly ventilated. This often occurs in wet areas of a home including...
When entering a rental agreement a tenant intends to live in the property for a while, usually more than twelve months. However due to change of circumstances, it’s not uncommon a tenant wants to break a lease early. In considering this, it’s important to understand the proper way to break your lease. A rental agreement is a contractual agreement that is set on a fixed term. This is a legally...
When a tenant signs a lease it’s normally intended that they want to live in the property for twelve months or more. It’s often a common experience to see a tenant continue renting beyond the first twelve months but they go on a month-by-month lease. It is understandable as circumstances can change at it provides the tenant with the flexibility to leave the property on short notice. However during a...
The COVID-19 crisis has caused much pain to health, livelihoods and working careers. The situation has called for many changes in the way people interact. The real estate industry is set to experience many changes particularly in the way it presents a property inspection. Property inspections are traditionally conducted to show potential tenants a property to lease or potential buyers a property to...
Common mistakes buyers make - and how to avoid them. Buying a home is one of the biggest commitments you’ll make in a lifetime. If you can get it right the first time, you’ll obviously increase the chances of adding more properties to your net wealth. In doing so this article may help you prevent some common mistakes buyers make. You may also enjoy our article on "First Home Buyers - 5...
COVID-19 - There is some comfort for tenants. It's a confusing time for renters and landlords amid the COVID-19 crisis. The information hasn't been free flowing – but here's what we know so far. The Australian government has announced numerous stimulus packages to support the many Australian landlords and renters, but the details surrounding it remain limited. The lack of information has made many...
Co-ownership is a beneficial and affordable way for self-managed super funds (SMSFs) to acquire real estate. Superannuation law allows super fund members to co-invest within their super fund. The new Tenant in Common Exchange (ticX) provides an uncomplicated trading platform for co-owners. Until the development of ticX there was no trading platform for the sale and acquisition of tenants-in-common...
How do valuers assess a property valuation? No matter if you purchase a brand new, off-the-plan or second-hand property, we are all in the mercy of the valuer. This is less relevant for a cash buyer, but for the most part, buyers require borrowed funds to complete their purchase. This means the bank will employ a valuer of their choice to complete property valuation. There are many professionals in...
Once you have nominated your house design, floor plans, builder and received your building permit, it’s time to watch your home start building. This is a very exciting time, but it can be a nervous one if you are not aware of the build process. In this article we take the opportunity to highlight the different construction stages to minimise your nerves and help you enjoy this special...