In this article we run through a series of steps we regularly see from investors who are fed up with terrible service from their current real estate agent, only to be wooed to stay where they are by a fee reduction.
If this sounds like your situation, read on.
As we click over 2 years of COVID-19 impacting our lives, in this article we reflect on the ways the virus has impacted the property market in Australia, and particularly within regional areas such as Newcastle and Lake Macquarie.
One of the most frequently-asked questions we receive when listing a new rental property is "Are pets allowed?". Before we list a property for rent, we will have already asked the landlord's preference on this subject. However at times the number of quality enquiries from pet-owner applicants is so high the subject is brought up for further consideration.
In this article we discuss the value of listing your investment property as pet-friendly, as well as the main points to consider before doing so.
Over the past 6-12 months we've had an increasing number of conversations with new and existing investors who are interested in buying into the property market in Newcastle and Lake Macquarie, but don't know where to invest.
The point of this post is not to provide a hit-list of suburbs (sorry!) - and the reason for this should become obvious as you read on! One person's ideal investment opportunity is another person's problem project.
Instead, we aim to provide some fundamental food for thought, to help assist in ruling out certain opportunities or areas and focusing on what suits YOU as an investor... what suits your personal appetite for risk, amount of time to hold before selling, etc.
Of course this is not an exhaustive list of points to consider, and certainly should not be taken as strategic or financial advice. We are simply offering some basics to consider to separate the good from the bad opportunities as they might suit YOUR unique situation.
We are commonly asked by landlords "How long will it take to rent my property?", and there are of course many factors which influence the answer! One of the less obvious factors can even be the time of year you list your property for rent.
A recent article from realestate.com.au provides some insight into which months of the year typically see most rental listings and the highest number of rental searches. We summarise the results below, also adding in findings from our own data from Newcastle and Lake Macquarie based on our listings in 2021.
Investors of property in regional NSW will be pleased with the data presented in the latest CoreLogic November Home Value Index. The report, released on December 1, highlights the continued strength of property in the regions both from a capital growth and rental yield perspective - and indicates that Regional NSW specifically has outperformed many other areas of Australia.
You may be expecting a post about knowing your income and expenses - your financial figures - but we're going to take a different path in this article.
Just as important as knowing the financial numbers for your investment is knowing the other essentials - the important numbers which dictate how and when you can take certain actions with your investment property. For example, knowing how many days notice you need to provide should you wish to ask your tenants to vacate the property, how many days notice are required to increase the rent in your property, how many routine inspections can be held per year, and more.
Think of this post as your "cheat sheet" of must-know, non-financial numbers for the success of your property. Let's get started!
Carnelian Property Management Newcastle NSW
We are a family-owned and run Charlestown real estate agent offering expert property management across Newcastle and Lake Macquarie.