Resources

Market forces that drive up rent prices

MARKET FORCES THAT DRIVE UP RENT PRICES By FOX PM As a landlord, rent increases are something you need to think about as it comes time to offer your current tenants a lease renewal. While it can be tempting to increase the weekly rent for your tenants, there are market forces you need to consider when you’re determining if it’s suitable to increase the rental price for your properties. Here are the factors you need to consider and eliminate when you weigh up whether to make a rent increase. Specific property costs don’t count If you’ve had to spend money

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Winter Reading For Savvy Investors

WINTER READING FOR THE SAVVY INVESTOR By FOX PM As the winter days come to an end but it’s still not quite warm enough to venture outside fulltime just yet why not spend your spare time enhancing your investor skills with a few top pick reads. The Barefoot Investor 2019 Update by Scott Pape If you’re looking for simple ways to get your finances in order, The Barefoot Investor 2019 Update will get you on top of things. This updated edition, published on 1 July 2019, features recent updates that are relevant whether you’re saving for your first investment property

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Lily

LILY By FOX PM   We had the pleasure of having Lily from Melba Copland Secondary School undertake her work experience with Fox PM.  Three things Lily found surprising about the property management industry: How much work there is to do with all the different emails, messages and phone calls. The background of Allhomes. The organisation of forms and apps etc. We also asked Lily if she felt this work experience could lead into a job in the future and her response:Yes, I do. After learning a lot about the procedure of the industry, I have found many reasons that

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ACAT

ACAT By FOX PM ACAT is the Australian Capital Territory Civil & administrative Tribunal. The Tribunal’s jurisdiction powers and procedures are defined by the ACAT Act, other authorising laws and its Rules and Directions.  When there is a dispute between a property manager and a tenant that cannot be resolved, the members of ACAT hear these cases via mediation and provide rulings on matters to do with tenancies in the ACT or proceed to the court for a full hearing. While the ACAT is not a court, their rulings are legally enforceable.  Many property managers regularly find themselves at ACAT

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Best time of year to rent

best time to rent Our market has historically been quite stable but there are some trends when it comes to the best time of year to rent out your property. SUMMER: Canberra has a very fluid population and the Nov – Jan period is always a busy time with lots of tenants looking for rentals as they come into Canberra for work or study.  WINTER: Always a slightly slower period of time, the cold tends to see fewer rentals on the market and slightly longer vacancy periods.    SHARE THIS RESOURCE Facebook Twitter Google-plus Linkedin Snapchat

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Lessor costs

lessor costs By FOX PM The lessor is responsible for the cost of the following: (a) rates and taxes relating to the premises; (b) services for which the lessor agrees to be responsible; (c) services for which there is not a separate metering device so that amounts consumed during the period of the tenancy cannot be accurately decided; (d) all services up to the time of measurement or reading at the beginning of the tenancy;(e) all services after reading or measurement at the end of the tenancy providing the tenant has not made any use of the service after the

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Attracting good tenants

attracting tenants By FOX PM Securing a quality tenant for the best price does not happen by accident; nor does it happen by offering the ‘bare minimum’ standard property. The following list of features that are sought-after by most tenants can be included in almost every property:  Privacy and security Heating  Access to internet Lock-up garage Plentiful storage space (cupboards, garden shed, etc) Well-presented interior (ie interior paint & floor coverings) Covered outdoor living area Modern appliances including dishwasher Good neighbourhood Low-maintenance yards or include a gardener. Tenants will pay more rent for features that matter to them. If you

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Bond

bond By FOX PM A bond is a payment of no more than 4 weeks rent that the tenant pays before the start of the lease. The bond is lodged with the Rental Bonds office. A bond does not have to be applied to a property however the bond is used as an insurance policy for any damage caused to the property by the tenant, keys not being returned by the tenant or cleaning costs if the premises was left unclean at the time of the final inspection.  If everything is ok with the final inspection, a bond refund is

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