Powered by MOMENTUM MEDIA
realestatebusiness logo
Powered by MOMENTUM MEDIA
Subscribe to our newsletter SIGN UP

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

news image

Land tax reprieve now available in NSW

May 27, 2020Grace Ormsby

Landlords who are providing their tenants with rent relief during the COVID-19 crisis are now able to apply for land tax concessions. ...

REB_top100agents
top 10 agents

1

Alexander Phillips

Year of Experience: 20

Support Staff: 3

Residential Properties Sold: 215

Total Value of Residential Properties Sold:

$ 522,477,791

VIEW COMPLETE REPORT

Have you experienced sexual harassment or bullying in the workplace?

Yes, I've been the victim of sexual harassment (15.8%)
Yes, I've been the victim of workplace bullying (21.1%)
No (63.2%)

Total votes: 19
The voting for this poll has ended on: April 30, 2020
TECH MARKETING SALES BETTER BUSINESS PROPERTY MANAGEMENT
Neville Pozzi reb REIWA rolls out new ‘digital doorknock’ strate ...

The Real Estate Institute of Western Australia’s longstanding partnership with The Salvation Army is seeing the real e ...

Property technology app smartphone reb App aims to kickstart the real estate market

As the real estate industry continues to adjust to the new norms brought about by the COVID-19 pandemic, an app develop ...

Kul Singh reb New integration to provide better buyer experience

Openn Negotiation has confirmed a new integration with realestate.com.au which aims to provide a better experience for b ...

REA Group HQ office reb REA Group to take Prop20 digital

REA Group has confirmed its Prop20 series will be transformed into a digital experience. ...

Michael Johnson WEB How COVID-19 has been impacting real estate agents ...

In April, Momentum Intelligence conducted a major survey to understand how the coronavirus pandemic has been affecting t ...

Tom Panos 140520 What’s Making Headlines – 14 May 2020

What’s Making Headlines is your new source for all the latest in Australian real estate news. ...

Heath Williams WEB Selling Brisbane’s most luxurious properties dur ...

After an initial lull, things have started ramping back up in the Brisbane property market, but Heath Williams, lead age ...

Michael Clarke WEB How the best agents are continuing to thrive throu ...

According to Clarke & Humel's Michael Clarke, the challenging nature of the COVID-19 real estate market is actually ...

Michael Johnson WEB How COVID-19 has been impacting real estate agents ...

In April, Momentum Intelligence conducted a major survey to understand how the coronavirus pandemic has been affecting t ...

Tom Panos 140520 What’s Making Headlines – 14 May 2020

What’s Making Headlines is your new source for all the latest in Australian real estate news. ...

Heath Williams WEB Selling Brisbane’s most luxurious properties dur ...

After an initial lull, things have started ramping back up in the Brisbane property market, but Heath Williams, lead age ...

Michael Clarke WEB How the best agents are continuing to thrive throu ...

According to Clarke & Humel's Michael Clarke, the challenging nature of the COVID-19 real estate market is actually ...

Positive Mindset in Business reb The impact of a positive mindset in the business o ...

Let’s be real: running a business or an office is stressful. Here’s a quick rundown of some insights on keeping yo ...

Cameron Black reb Lies and statistics: Has the property market actua ...

It seems like there has been a huge change of sentiment in the last month as a confluence of factors has come together t ...

short 850x400 june2019 How to get that big win

Getting a big win is more than just sales. It involves strategic planning and setting goals, according to real estate bu ...

MeganSmith 050719 cropped Ray White’s Megan Smith sells $14m property in B ...

Ray White Balmain sales dynamo Megan Smith has sold one of the most expensive houses in Australia this year, with the pr ...

suburbs high shot reb Forward indicators point to property recovery

The property market is beginning to show signs of life, with sellers looking to cash in on buyers’ demand, according t ...

housing properties reb ‘No signs of distress yet visible in housing mar ...

While the current crisis could exacerbate high mortgage debt, there are currently no signs of distress visible in the ho ...

home owners reb Home owners given stern warning on upcoming regula ...

Property managers in Victoria should advise caution to home owners, after a stern warning was issued about regulations s ...

Rolf Howard reb Will recent changes to tenancy laws tip the scales ...

The Australian rental market has long been considered by many commentators to favour the landlord over the tenant. Unlik ...

EVENTS
REBAWARDS Listready
Real Estate Business Awards 2020

The REB Awards is the benchmark of success in the Australian real estate industry. It reflects not only the business astuteness of the country’s leading real estate operators and networks..

Learn more >
FROM THE WEB
Recommended by Spike Native Network

Why we’ll keep delivering for our communities in the face of COVID-19

alex

As Australia tries to keep pace with a rapidly changing business and social landscape in the wake of COVID-19, Momentum Media is leading the way delivering essential content to our communities, writes Alex Whitlock, director of REB.

Read more
Do you have an industry update?
rpm logo latest

When a property doesn’t return

17 March 2015 Melanie Dennis

Many landlords link longer-than-expected vacancy and difficulty in finding a tenant with not having the right property manager or getting good service.

In some cases this may be accurate and the property manager or leasing agent isn’t acting in the client's best interests. Perhaps they’re unmotivated or lacking office support to get through daily tasks – making leasing property laborious.

However, more often than not the landlord has made a poor investment choice with their property. A decision made in all likelihood on bad advice - professional or otherwise. For example, the investor purchases off the plan in a new building; a high number of investments released at the same time equalling huge competition and higher vacancy rates.

It isn’t all doom and gloom though. Property management is a role for strategic and dynamic thinkers – drop the rent with a built-in increase in the lease term and it will be snapped up first. Let’s face it, these cookie cutter apartments do not have a point of difference to market – so the only difference that can be created is price.

Advertisement
Advertisement

Increase the lease term to ensure it isn’t vacant again in 12 months with the rest of the building. Many tenants are glad to agree to a longer term, and if the references are good, why not bust through the glass ceiling of that one-year lease term. So many property managers cannot get their head around a longer lease term, which is so archaic.

Perhaps the landlord read about the increased return a furnished property can provide, not understanding the full picture relating to updating and maintaining furnishings, and the true cost of holding a property that is likely to attract more transient tenancies and longer vacancy rates.

Furnished property is such a niche product; it can work brilliantly with all the boxes checked. It needs to be fit for purpose with high quality furnishings and also be positioned perfectly – they can work well in the CBD and surrounding universities. Not to mention the convenience for an interstate or overseas landlord, who will then have the ability to utilise the property during vacancies.

As a property manager, don’t be afraid to share your expertise and voice your concerns about a property and its limitations before listing it. A client will respect your knowledge when you can see the issues surrounding a property and the possibility of a longer vacant period – voice those concerns. Perhaps the owner will decide to sell a poor-performing investment and look to purchase something more in line with market demand.

Remember, the service is in the delivery. If a property is difficult to lease, do not stop talking with your owner because you have no news – this is the most stressful time for them so don’t let them quote bad service for a change. Over-service them in the leasing period so they know it is not what you are not doing but how the market is moving at that particular point in time.

The Melbourne property market is strong, so strong that at times some take this to mean ‘you can’t go wrong with Melbourne’, which certainly isn’t the case. A buyer’s advocate is the only way to get truly impartial investment advice, and make the right purchase every time. At Domain Property Advocates we strongly recommend all of our clients seek the professional assistance of a financial planner, to obtain a true understanding of where they sit financially and therefore set accurate and achievable financial goals.

When a property doesn’t return
mel dennis
lawyersweekly logo
Melanie Dennis

Melanie Dennis

Director of Domain Property Advocates and head of the Property Management  division, Mel leads her team with a hard working attitude, straight shooter approach and tenacious drive to provide consistent, first class service to each and every client.

FROM THE WEB
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast

Why we’ll keep delivering for our communities in the face of COVID-19

alex

As Australia tries to keep pace with a rapidly changing business and social landscape in the wake of COVID-19, Momentum Media is leading the way delivering essential content to our communities, writes Alex Whitlock, director of REB.

Read more
Do you have an industry update?
REAL ESTATE BUSINESS NEWSLETTER
Ensure you never miss an issue of the Real Estate Business Bulletin. Enter your email to receive the latest real estate advice and tools to help you sell.