Property Consulting Services

 Hey All, When I was working as a property manager a few years back, I was doing a lot of rental inspection for my clients. It involves checking the condition of the rental property on the behalf of the landlord. Usually, the focus is on ensuring the property is reasonably clean and maintained. We need to take note of any areas that need repair work because it is the responsibility of the landlord unless the damage is beyond the scope of fair wear and tear. Also, we have to inform the tenant about the upcoming inspection a week in advance. I am sharing an article to explain this further.    https://www.bondcleaningincanberra.com.au/what-property-managers-really-look-for-in-a-rental-inspection/

 Interest rates are starting to bite in Western Australia with new data showing the proportion of family income needed to meet loan repayments has jumped over the past year. The latest Real Estate Institute of Australia Housing Affordability Report shows the proportion of median family income needed to make loan repayments rose 2.3 percentage points to 33.8 per cent for the December 2022 quarter. That is up from 31.5 per cent in the September quarter and 25.3 per cent in the December 2021 quarter. Read More: https://www.smh.com.au/property/news/an-ugly-scene-wa-home-owners-in-mortgage-stress-as-repayments-soar-20230320-p5ctnp.html

 Almost 20 years after the fundamentalist Christian sect known as the Twelve Tribes started a commune south-west of Sydney, near Picton, members are moving out and their local property holdings are being put up for sale. The sell-off of more than $6 million worth of property comes at a tumultuous time for the global movement, not least because of financial pressures from rising interest rates on mortgages attached to a slew of recent real estate acquisitions and a police investigation into claims of illegally buried human remains. Read More: https://www.brisbanetimes.com.au/property/news/twelve-tribes-sect-in-6-million-property-sell-off-in-picton-20230322-p5cu6s.html

 Stretched homeowners are already asking about switching part of their home loans to cheaper interest-only payments, but experts urge caution when considering the tactic. After 10 straight rises in the cash rate so far, about 880,000 low fixed-rate mortgages are due to roll off this year, tipping owners onto higher rates that will increase their monthly mortgage repayments and squeeze household budgets. Options could include refinancing with a different bank to get a cheaper deal, extending the loan term to bring down repayments, or switching from principal and interest payments to interest only. Read More: https://www.brisbanetimes.com.au/property/news/as-interest-rates-rise-a-last-resort-plan-to-slash-home-loan-costs-20230316-p5cssg.html

 If you are living in a share house with your friends and need to leave soon, it can get complicated. Since they are your friends, you do not want to leave on a hostile note but leaving will cause some discomfort. To deal with this in the right manner, you must adopt some proper tools of behavior like telling your roommates in advance, clearing your dues, packing all your items on time and cleaning your room and common areas. This will help you part on amicable terms and stay friends. For more such tips, you can look at this online article that explains these points in detail. https://www.betterremovalistsadelaide.com.au/how-to-move-out-of-your-share-house-without-conflict/

 Experts say construction companies across the country will continue to go broke as material costs and interest rates keep rising.  The future of dozens of projects in Queensland, including two sites on the Gold Coast, New South Wales and the Australian Capital Territory is uncertain after the collapse of PBS Building this week. Master Builders Gold Coast regional manager Adam Profke said it was a nasty situation for everyone involved and the industry's crisis would continue for months. "It's an exceptionally tough time, it's unprecedented," Mr Profke said.  Read More: https://www.abc.net.au/news/2023-03-12/construction-industry-crisis-material-costs-interest-rate-rises/102074504

 If you're a regular consumer of media, you'll likely often be warned of an impending crisis somewhere. Less often you'll be informed of a current crisis. That's because we have support systems in place that kick into gear as crises approach. Unfortunately, sometimes countries continue through and into a crisis. Right now Australia is in the middle of a cost-of-living crisis that has its roots in the property market, the availability of housing and high levels of personal debt. Read More: https://www.abc.net.au/news/2023-03-11/housing-crisis-cost-of-living-personal-debt/102077818

 At the Seaford Cabin Park, at the gateway to Victoria's Mornington Peninsula, manager Andrew Wilson takes another phone call. "I'm getting at least 10 phone calls a day from people just looking for some sort of long-term accommodation," he said. Demand for his one-bedroom cabins has never been greater. "We just don't have anything available at the moment." The park used to be a more transient place — a place people would stay for a few months while they sorted out longer-term accommodation. Read More: https://www.abc.net.au/news/2023-03-13/mornington-peninsula-homelessness-housing-crisis-caravan-parks/102057480