Property Investor Update January – February 2013
Happy New Year to all our valued clients, we hope you enjoyed any time you may have had off during the festive season.
Our vacancy rate has fallen this month and we have been busy renting properties, however unfortunately some properties are still suffering from extended vacancy periods even following rent adjustments. This is a sign of the unpredictable rental market we are currently working in and we are doing our utmost to ensure all our Property Investors have the lowest possible vacancy period.
Q & A Tenant Bonds
Q I am concerned that the bond will not cover possible damage to the property as we have expensive inclusions and fittings. Can we ask for a set amount or greater than four weeks rent?
A There are strict legislation guidelines that state you cannot charge anymore than four weeks rent for a bond. If we were to ask the tenant to pay a greater amount it would be considered contracting outside of the Act, which has serious penalty fines that can be imposed.
LANDLORD PROTECTION INSURANCE
Do you ever worry about the tenant’s situation changing and them not being able to afford rent and falling behind in payments?
That is why we highly recommend landlord protection insurance as it will cover you for loss of rent and property damage. With the economic climate being so erratic for many tenants and families sometimes changing circumstances cannot be avoided.
This insurance cover is a tax deduction.
Properties Recently RENTED…
Keeping you updated on the local rental market
Boston Place Toongabbie
3 bedroom home $400/wk
Fitzwilliam Road Toongabbie
3 bedroom home $380/wk
Wentworth Avenue Toongabbie
3 bedroom duplex $420/wk
Australia Street Oxley Park
3 bedroom duplex $390/wk
About Jhai Mitchell
Jhai is an award winning Internet Marketing Real Estate Agent for Elders Toongabbie and Kings Langley. After running his own internet marketing business he has now set his own sites for the real estate industry. He observed that 90% of real estate agents did not know how to market themselves online. Jhai is now fixed on one goal. To teach real estate agents that they can market online so much better than they currently are.
Since then he has been consistently quoted in the Sydney Morning Herald and Real Estate Business online. He is a regular guest blogger on TheHomePage.com.au, sharing his expertise of marketing aspects for the Real Estate Industry. His biggest passions are his wife, martial arts, dogs and most of all property.