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

Hot Property: Biggest headlines from the week that was

May 28, 2020Grace Ormsby

Why Australians could be given $50,000, how to terminate a tenancy and the need for a stamp duty plan: Here are some of the biggest stories from this week. ...

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. ...

Mark Morrison WEB 2020 REB Business Empowerment Showcase: An innovative p ...

The global pandemic has undeniably presented some challenges for the real estate sector. However, there are still opport ...

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 ...

Mark Morrison WEB 2020 REB Business Empowerment Showcase: An innovative p ...

The global pandemic has undeniably presented some challenges for the real estate sector. However, there are still opport ...

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 ...

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 ...

housing properties reb New projects to enable better housing policy decis ...

The Australian Housing and Urban Research Institute (AHURI) is undertaking several priority research projects which aim ...

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 ...

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

How to pick a winning rental property

06 March 2012 Reporter

How do you ensure your investment property will be the most sought after by future tenants? Lisa Indge answers some crucial questions

For many years, I have been answering an extremely popular question: ‘What makes the ‘ideal’ investment property?’ Real estate agents are not qualified to give investment advice, so we approach this question from the perspective of providing a rental valuation.

That means giving an answer to a slightly different question: ‘What attributes make this property a better rental property than any other, now and in the future?’

These are the key considerations:

Advertisement
Advertisement

Does the property match the local market?
First, consider whether the mix of houses versus apartments in the area matches tenant demand. For example, where there is a shortage of apartments in an inner city suburb, there is high demand and very low vacancy rates. Ensure the type of property you invest in is one that prospective tenants will seek out.

What are the area demographics and income levels of prospective tenants?
Match your investment to the middle of the market to capture the most tenant demand. In the inner suburbs of every capital city, there is a mix of families, professionals and lower income earners. Whom does your property suit? If you own a ‘tired’ house near a university it is probably going to end up as a share house – it won’t appeal to families. Identify your target tenant.

How does your property stack up against the others?
Get the basics right. Present the property as spotlessly clean, neat and in as good a condition as possible. Ask whether there are significant negative aspects that cannot be changed? Dark spaces, proximity to noisy night spots, busy main roads, and a difficult and/or ‘pokey’ floor plan. Again, families and single apartment sharers have different requirements.

What aspects of the location will attract tenants?
Proximity to workplaces, transport links and amenities such as schools, restaurants, parks and shops are all important. Also, is the property located in a highly desirable and prestigious suburb? This is an attribute in its own right, but the property should be presented accordingly and with the expectations of the demographic in mind.

What are the top attributes that appeal to renters?
General condition, kitchen and bathroom, paint and flooring are all important. The interior should present a clear message matched to the target tenant and area demographic. Modern functional and funky spaces in the inner city rent well, as do charming Federation houses in the suburbs – be clear about your property’s category. Other things that can affect the general appeal include gas cooking, built in wardrobes, uniqueness and outside amenities, including gardens, courtyards and balconies.  

What attributes are considered negative?
This can, of course, be personal but typical examples are Vermiculite ceilings, 1980s-style low ceilings and brown aluminium windows! Parking? It goes without saying that in most big city inner suburbs, parking adds considerable value – in some inner city areas, it is hard to rent properties that do not have adequate parking. Lack of outside space can also be a negative with some properties.

Should I renovate my investment property?
A new kitchen, bathroom, paint job and new carpet increase a property’s rental value. But will the increase be sufficient to justify the spend and depreciation on your investment? We often give our clients an estimate of the current rental value and then one that takes into consideration any proposed renovation. That way, our clients can decide up front whether to buy or, if they currently own, whether to bite the bullet and renovate.

So, in short, don’t buy a pokey, dark studio apartment in a family suburb – or a beautifully renovated family home in a student area!

Lisa Indge is managing director of Let’s Rent – The Property Management Specialists

How to pick a winning rental property
default
lawyersweekly logo
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.