Wyndham Harbour

By: ICPM Team

By now many of you will have heard and read of the $500 million Wyndham Harbour Marina development.

Located in Werribee South, it will become Melbourne’s new centre for recreational boating races, regattas and will provide 1000 wet berths and dry dock storage for an additional 390 boats. It also offers a range of living options, including houses, waterfront apartments and a Marina Square with a leisure and retail centre, cosmopolitan cafes, restaurants and specialty shops.

Investors Choice felt such a development within our precinct may warrant consideration to our clients, so with this in mind, additional information regarding this project includes:

• Construction of two new beaches

• 10 hectares of impressive landscaping with purpose-built cycling and walking trails

• Land packages with which to build your dream home

• Marine berths ranging from 10-30 metres

• 24 hour security and camera surveillance

With the likely introduction of a ferry service in 2015 with an operator locked in and the plan to be included in the state governments’ upcoming transport strategy.

This project will be developed in stages.

The first apartments building (Marina Quays Apartments) has sold out and is due for completion in mid-2014.

Now released and available “off the plan” the second five level apartment building designed by SJB architects contains 140 apartments.

Given that stage one has now sold out speaks volumes of the interest in the project.

If you would like additional information such as pricing points, floor plans, designs or perhaps even to view the available scaled model we would welcome your registration of interest. We have aligned and created a streamlined approach with the selling agency on our landlord’s behalf.

Wyndham Harbour

Landlord review WINNER!

By Daniel Grixti

 

While the real winner was Investor Choice getting 100% satisfaction rating from over 500 surveyed investors, we do have a lucky landlord that will receive the next 6 months of rental management for free just for completing the review.

Congratulations to the winner Tegan Aquilina and thanks to everyone who contributed to the ongoing improvement of services offered by Investors Choice Property Management.

The main feedback from the survey was to build on the already strong communication systems and I have already implemented two procedure modifications to provide more information during rent reviews and lease renewals.

Other general ideas and comments are to be discussed at our next monthly staff meeting.

Landlord review WINNER!

Daniel’s Market update – 2014 predictions!

By Daniel Grixti and Peter Kouiloz
While 2013 wasn’t spectacular it was certainly been better than the previous two years. And the odds appear stacked for 2014 to get even better.

With the exception of Perth and Darwin, all capital city property prices have performed better than their previous two years. Whilst Hobart prices are still decreasing, they are not falling as fast as they did in 2011 and 2012.

With all except one capital city (Hobart) experiencing positive growth in prices in 2013, what is in store for 2014 you may ask?

A general opinion is that 2014 will be a better year than 2013. Let’s look at the past three year trends (Figure 1) and then consider some of the influential factors

 

 

 

 

 

 

 

 

Figure 1. Capital growth averages over past three years.

Federal Election

It seemed to be the longest lead up to an election in history and this dampened business and consumer confidence for most of the year. However, the election has come and gone, a new government is in power and consumers and the business community seem to be willing to loosen their purse strings.

Overseas economies
USA
The U.S. economy is picking up gradually, as evidenced by a lowering of the unemployment rate and talk of cutting back on the “printing of money” to stimulate the economy.

Why do they want to cut back? Because the economy is responding to the stimulus and they don’t want it to overshoot and create an inflation problem.

Europe
The news headlines in 2012 and early 2013 were dominated by the Eurozone crisis. Many economies in Europe have a long way to go but there are positive signs in a number of countries that the worst is over.

Gross Domestic Product (GDP) is improving and the unemployment rate is decreasing. The Eurozone should continue to improve in 2014 and beyond which will result in greater business and consumer confidence around the world, including Australia.

Availability of finance

Banks were more willing to lend money in 2013 than in the four previous years. They too will loosen their purse strings as the Australian economy continues to improve.

With more people able to access loans, this will increase demand for property which in turn will increase property prices. However, one of the biggest factors influencing the property market is interest rates (cost of money).

Interest rates

Interest rates are at historical lows but with the political uncertainty in Australia and the economic status of some countries in 2013, many couldn’t see the opportunities, or were too wary to act.

Now confidence is returning to the market, property investors and future home owners are realising it’s a great time to buy. Rates will definitely move in the new year, but buyers should start responding more than they have in 2013.

Source: Property Observer

 

Daniel’s Market update – 2014 predictions!

Be Prepared for Tenant Silly Season

 

 

 

 

 

The silly season is here. It’s a scary thought; Christmas is less than 4 weeks away! We all know it’s coming, but every year, sadly, some tenants get caught out and don’t prioritize their rent. According to the Wyndham Weekly ‘A steep increase in the number of renters being evicted from their homes has reached crisis point, according to Wyndham social workers.”

It is reported that police are executing at least 22 eviction warrants Wyndham Vale shire every month.

As a landlord, what does this mean for you? Well, a few basic points to make sure you’re prepared in case things go pear-shaped include;

• Make sure your landlord insurance is up to date and it includes rental default cover.


• Don’t depend on the rent. Smart landlords either pay their mortgage themselves or have the funds sitting in an offset account. When the rent comes in, it goes into their offset account. If your mortgage is due to come out within a week of your tenants rent being due – you’re only asking for trouble! Even good tenants have the occasional slip up and can pay their rental late. If you depend on those funds coming straight in, you could default on your mortgage payment costing you more!


• If you’re looking to add to your investment portfolio. Seek sound investment advice – join our Landlord Coaching program! Don’t just believe what a sales agent is telling you, do your research and make sure you can afford the property you want to buy. You need to make sure that you can afford to pay the mortgage on your investment for a minimum of 3 months without a tenant after the property is ready to lease.


• Speak to your property manager. If you have any concerns about your particular situation, there is no harm in seeking advice. My motto is to prepare for the worst, and hope for the best.

At Investors Choice your tenant risks are much lower than landlords with typical sales focused agents and we are proactive in our communication with tenants, advising them of the importance of prioritizing rent over the Christmas period. As always we will work hard to get you great results and keep you well informed.

Michelle

Be Prepared for Tenant Silly Season

ICPM 100% Landlord Satisfaction!

 

 

 

 

Every year our landlords rate our performance and one of our landlords will win 6 months free management by completing three multiple choice and three short answer questions.

Nearly all the staffs have had their landlord satisfaction surveys sent out and the reviews so far have provided an amazing 100% satisfaction rating. The main feedback so far has been to build on the already strong communication and I have already implemented two procedure modifications to provide more information during rent reviews and lease renewals.

Please help us by taking the 2 minutes required to complete our very short performance review if you have not already. The final staff surveys will go out over the next few days and we look forward to more great feedback that we can work on to make you more money with less hassle.

I will announce the winner of six months free property management once all surveys have been finalised.

Daniel

ICPM 100% Landlord Satisfaction!

Daniel’s Market Update – Maribyrnong, 200k could have been made in 5 Years!

• Maribyrnong is one of Melbourne’s most densely populated suburbs and is a busy business and retail arm of the west. Despite having all amenities within its area limits and being just several kilometers from the CBD, house prices have been more volatile than just about any other suburb in the west.


• The price of houses in Maribyrnong rose slightly in early 2008 before dropping the same amount in late 2008 and early 2009. Prices then soared by more than $125 000 (23%) until early 2011, before dropping again by 2012 to the 2009 low. In 2013 prices are again at the 2011 high with another 23% increase over 12 months (Figures 1).


• If investors had known this trend was coming and brought a property at the two market lows and sold at the two highs, about $200,000 was up for grabs with two property purchases over a 4 year period. Isn’t it easy when we see the past trends? This rapid market change is largely to do with the economic trends in the retail and business sectors that support much of the population in Maribyrnong. This fluctuation is also influenced by a large number of new apartment releases that compete in some part with the more traditional small houses in the area.


• Maribyrnong unit prices rose from 2008 to 2011 by 50% and then dropped until 2013 by half of the previous gains (Figures 1). The lack of market recover compared to houses is because of an oversupply of apartments and strongly supports the old adage that land appreciates and property depreciates!


• Due to the desirable amenities in the area and the proximity to the CBD, Maribyrnong rents have increased relatively consistently from 2008 to 2013. This highlights the reason why investors purchasing for cash flow tend to stay very close to major cities.


• As I have mentioned in past columns, the western Melbourne property market is still recovering and now is looking like a great time to buy. Today I saw a news article about the increased population predictions for Melbourne’s suburbs and those people will put pressure on the property market, which will in turn drive up rents and property values.

Please give me a call if you are considering a property purchase in Melbourne’s west.
Figure 1: Median Sale and Rental prices for houses in Maribyrnong from 2008 – 2013

Figure 2: Median Sale and Rental prices for units in Maribyrnong from 2008 – 2013

Daniel’s Market Update – Maribyrnong, 200k could have been made in 5 Years!

How Can a Property Manager in Truganina Help You Keep Good Tenants

Working with a property manager in Truganina can help you to retain good tenants. If you own renal property, then you know that keeping good tenants comes with many benefits. First, this ensures that there are no periods when rental units remain unoccupied, thus enabling your rental property to generate income to its full capacity. Good tenants also make payments in time, meaning that you won’t have to cope with rent defaulters.

There is no doubt that having good tenants will benefit any property owner. However, keeping these tenants can be a challenge. So, how do you go about it? Well, the answer to this is simple; provide excellent living conditions to keep your tenants happy and encourage them to stay in your rental property. Here are some useful tips on how property managers in Truganina can help you achieve this goal.

Respond to Tenants Quickly

If you are a property owner and have other things to do other than manage your property, it can be hard to maintain a balanced schedule. But, this does not mean that you should ignore or postpone conversations with tenants. Sometimes tenants make suggestions on how to improve living conditions, or they can complain about fixtures that need repairing. If you are unable to respond to these issues promptly, it is a good idea to hire a property manager. Property managers can address problems quickly even you are not around, thus leaving your customers happy and satisfied.

Draft Good Tenancy Agreements

It is important to draft good tenancy agreements. This is a standard business practice when it comes to managing rental properties, so it does not apply only to property management in Truganina.

If you want to reduce the chances of tenants moving out to other rental properties, then you have to come up with good tenancy contracts. Drafting a good tenancy agreement allows you to come up with acceptable living terms to all kinds of tenants. Some property managers can help you come up with good policies that even allow pet owners to be your tenants. This in turn raises demand for your property, but at the same time ensures that respectful practices amongst tenants are maintained.

Keep in mind that these are just some of the ways in which property managers can be of help. Engaging a property manager in Truganina will not only help you keep good tenants, but this will enable you to manage your property more efficiently even when you are not around.

 

How Can a Property Manager in Truganina Help You Keep Good Tenants