Being a landlord isn’t always easy. Dealing with tenants who are bad payers or appear to be on a mission to turn your rental property into a rubbish tip can be time consuming and stressful.
Renters currently have the upper hand in many Australian cities. Inner-city Brisbane, for example, has experienced a high volume of apartment construction in recent years and landlords have had to reduce rents and offer incentives to lock in leases.
With renters able to pick and choose, landlords need to try harder to ensure they attract –and keep – top quality tenants.
Here are some tips for achieving this:
Best face forward
The way you present and market your property will influence the type of interest you receive. If a rental property appears dirty and unkempt, prospective tenants may assume you’ll be equally lackadaisical once they’re in residence. This may be appealing to those who share your ‘relaxed’ approach to home and garden care, but it’s likely to be a turn-off for renters who keep things in proper order. The better the home looks and feels, the higher the calibre of applicants you’ll attract (and the higher the rent you can potentially command).
Faced with the choice between your dwelling and another that’s broadly equivalent, tenants are likely to go for the property that offers extras that add to their comfort. Installing air conditioners in the living room and main bedroom may tip the balance in your favour, or deter good sitting tenants from considering their options during the summer sizzle. Similarly, a dishwasher in the kitchen and freestanding wardrobes in bedrooms that lack built-ins are modest investments that can make a big difference.
Gardening made easy
Not everyone has a green thumb. Ensuring garden maintenance is as easy as possible can make your house or townhouse appealing to renters who may be good payers, but don’t have the time or inclination to mow and prune. Consider providing a green bin, include a monthly or quarterly yard clean-up in the rent and plant shrubs and trees that require minimal TLC.
Lock it up
If you want tenants to take good care of your property, it pays to demonstrate that you’re committed to looking after their personal property too. Installing security that’s appropriate to the home and the neighbourhood can provide peace of mind and make it cheaper and easier for tenants to obtain contents insurance.
Attend to maintenance
Having to ask repeatedly for something to be fixed is irritating, particularly if the request is reasonable. Attending to repairs as soon as possible tells good tenants you respect them and value the relationship. Conversely, making them wait weeks for maintenance requests to be actioned may result in them looking elsewhere for a landlord who can keep up their end of the bargain.
Reasonable rent rises
The market will determine the rent you can charge. If what you’re asking isn’t on par with equivalent dwellings in the same area, renters will assess their options. Should a lease be due to expire and you’re happy with the tenant, it’s wise to be realistic about rent rises – or open to the possibility of a reduction if the market has dropped. Keeping a good tenant is usually easier than finding a replacement
Related article: How to attract and keep top tenants in your rental property
Gold Coast villa is Australia’s most popular Airbnb
A LUXURY Hinterland villa in Mount Nathan has been crowned Australia’s most popular Airbnb listing for 2017.
A STUNNING outlook over the lush green hinterland, a 25m lap pool set up for dive in movies, sunset views from the spa and you can bring your dog (or horse!).
A luxury hinterland villa in Mount Nathan has been named Australia’s most ‘wishlisted’ Airbnb, beating out capital city hot spots.
Topping the list for Australia, the Gold Coast residence is a “luxurious loft-style villa”, with room for 10 people, set on a sprawling four ha property and can be rented for $129 per night.
The host, former financial planner and Vanuatu expat, Kerri-Lea, is an equine enthusiast and there are horses on the property.
“This family plays polocrosse, has horses and stables with daily commitments,” according to the listing.
“The family home is the main house.”
They can also visit nearby award-winning Mount Nathan Winery, the Gold Coast’s theme parks, between a six to 10-minute drive away, or drive to our famous beaches in less than 30 minutes.
It’s listed in good company — the most popular listing in the UK was a Victorian castle, a sea cottage was Denmark’s ‘most wishlisted’, and a lakeside villa topped the travel bucket list in Switzerland.
The top gong comes as the Gold Coast Bulletin reported an Airbnb boom, tipped to contract the tight long-term rental market further as fewer properties are available.
Originally Published: www.news.com.au
Gold Coast hotel operator Mantra Group makes a move into residential management rights
GOLD Coast resorts and hotel operator Mantra Group is morphing into a residential property management player after buying the management rights for 1500 new apartments being developed across seven residential towers in inner Brisbane by developer Metro Property Development.
The first stage of the portfolio of 710 apartments are due for completion and settlement this year.
Mantra CEO Bob East did not reveal the value of the deal, which is subject to certain conditions, but said the move was “well aligned to our operating expertise and growth aspirations”.
“As Australia’s largest owner of management and letting rights businesses, Mantra Group has developed unrivalled expertise in the management of large-scale strata title buildings,” he said.
“The idea of adding Metro’s seven high-quality developments to our existing portfolio is a compelling opportunity.”
The move comes as Mantra, which has been on an acquisition spree, last year announced it would expand into purchasing hotels to leverage its expertise in hotel management rights.
Metro managing director, Luke Hartman, said the sale was in line with its strategy of not retaining management rights in its developments.
“Metro’s main focus is on the development, sales and marketing and construction of projects. The sale of management rights is part of our overall strategy, which enables us to focus on what we do best and move on quickly to the next project,” Mr Hartman said.
Mr Hartman said a large portion of the apartments in the developments in inner city Fortitude Valley and Newstead have been purchased by investors who are keen to tap into Brisbane’s rental market and high demand for new inner-city apartments.
“Brisbane’s inner-city, particularly Fortitude Valley and Newstead, is experiencing significant rental demand. We have seen a high level of interest from local, interstate and overseas investors who can see significant opportunity in this area of the market,” Mr Hartman said.
Tim Crooks from Resort Brokers Australia, who brokered the deal, said Mantra had beaten some of the best operators in the accommodation industry to secure the rights.
“It was an extremely competitive process and after a lengthy interviewing process with the top three bidders, Mantra Group emerged as the successful party,” he said.
Shares in Mantra closed 6¢ higher at $4.15.
Originally Published On: http://www.goldcoastbulletin.com.au/
Gold Coast Sheraton Mirage to be sold for $160 million to Aquis casino billionaires
The Hong Kong billionaires behind Australia’s largest casino proposal, Aquis, believe Queensland’s Gold Coast could become a destination for big-spending overseas gamblers.
It comes as the Fung family secured the exclusive negotiation rights to purchase the five-star Sheraton Mirage resort, which has been on the market since last year.
It is understood the Fungs will pay about $160 million for the site, adding to a recent $120 million Gold Coast property spending spree.
The head of Aquis Entertainment’s Australian operations, Justin Fung, said a casino at the Sheraton was being considered.
“There are a lot of different options available to us, one of which may include a casino,” Mr Fung said.
“We have a lot of confidence in international tourism coming to Queensland…The Gold Coast is obviously a great representation of that and has an international brand name, it has tourism infrastructure already, we have seen the announcement of direct international flights from China. There’s been a lot of foreign investment coming into the city.”
The Gold Coast already has the Jupiters casino, and plans for a second casino in the area were in the works until the Queensland Government halted an integrated resort and cruise ship terminal at Wavebreak Island.
Any new casino would require licence approval from Queensland’s state government.
However, Mr Fung was confident the Gold Coast could sustain a second casino.
“When we talk about the capacity for a second casino it isn’t entirely based on local population, it’s dependent on the growth of the tourism sector,” he said.
In recent months Aquis Entertainment has spent $50 million on a Robina development site, $55 million Surfers Paradise apartment site, $15.8 million on Nathan Tinkler’s Patinack Farms and $7 million on a Gold Coast penthouse.
Negotiations are continuing with the Queensland state government to secure a licence for the $8 billion Aquis casino and resort in Cairns, which could open in 2020.
The elaborate Macau-style resort will seek to attract international players with deep pockets ahead of local punters.
Aquis has received environmental approvals and Mr Fung said negotiations with the Labor government was progressing well.
“We’re feeling very confident,” he said.
“I’ve found that they’ve been very forward-thinking, they’ve been cooperative, they’ve been fair but firm. We’re very confident about our future in Queensland.”
Aquis purchased Casino Canberra last year for $6 million and is planning a major facelift.
By Kristian Silva via smh.com.au
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