Should Australians Invest in Property - Buy Property? Video to watch

Submitted on Rental Success Blog by Chris Snell, Property Manager, Melbourne, Australia

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What is a Lease? Landlords and Tenants ... Tenancy Responsibilities and Entitlements

What is a lease? 
A lease is more technically referred to as a residential tenancy agreement. It is a legal contract between two or more parties namely the tenant and the landlord. It is a written document and signed by all parties.

What does a lease do?
A lease outlines: the amount of rent and how it is to be paid the length and type of tenancy the amount of bond required other conditions and rules. A lease establishes the agreement between the landlord and the tenant and imposes obligations and entitlements upon both parties.

Fixed term – a fixed-term agreement is for a set period of time, usually six or 12 months. After a fixed-term lease expires, a tenant can sign a new fixed-term lease or roll automatically onto a periodic lease.

Periodic lease – a tenant will usually roll over to a periodic lease (commonly called a 'month by month' lease) when their fixed-term lease ends. Normally, when a lease becomes periodic, the tenant does not sign a new lease, but must still follow the rules set out in the original agreement. A tenant on a periodic lease does not have to sign a new fixed-term lease, although if they do not they risk the security of their tenancy. The original agreements between the parties remain unchanged and carry on in continuation ... the only thing suspended is the fixed term that was originally agree upon.

One of the problems with poorly written tenancy agreements is that confusion may become present during the tenancy because things lack clarity. It is important that a landlord is confident about the tenants understanding of the lease agreement. It is also the duty of the landlord to ensure a good understanding of the lease agreement being prepared for signing.

Written by Chris Snell, Property Manager, Rental Success Blog

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Self Managed Superannuation Funds - Tips and Traps for Owners of Self Managed Funds

Investing in property with your superannuation funds in a self managed superannuation fund is one of Australia's fastest growing pools of buyers into the investment property market. There is need for self control, due diligence and professional planning. Don't become a victim of hasty self managed super fund set ups ... "While negatively gearing a property investment within a SMSF can be a tax effective strategy, there are traps that you should be wary of" ... this special report is well worth your viewing:

Submitted by Chris Snell, Property Manager Melbourne Australia, Rental Success Blog

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Investment Property - Where to Buy in 2014 - Today Show

 Get a copy of this FREE report, 5 Costly Mistakes Landlords Make With Their Investment Properties,
Video clip sourced and submitted by Chris Snell, Property Manager Australia, Rental Success Blog.

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Good Property Managers Are The Foundation of Good Property Management Companies

Choosing a good property management company is certainly something that you will need to do when seeking professional services to lease out your rental property. However appointing a suitably qualified property manager is more important. Too many things are left to chance when an unsuspecting property investor appoints and agency based on its profile without doing due diligence on the person who will be acting for you and your property. Needless to say there is a endless list of things to be wary of, but I propose just a few points of reference to get you started.

5 Things to consider when choosing a good property manager 

to manage your rental property...

1. Professionalism - have you spoken over the telephone or met the prospective property manager in person? Did the person appear professional and demonstrate a sense of being in control of the situation?
2. Clarity - was the property manager able to grasp quickly and relay back to you with clarity the important components of your situation and the discussion? Were their communication skills attentive and engaging? Did they offer you assurances of the tasks at hand?
3. Local Knowledge - did you receive some indications from the property manager that they possessed some local knowledge of the area surrounding your investment property? 
4. Expertise - the property manager should be able to convey to you their professional industry expertise. You should be starting to feel that this property manager does have a degree of competency that makes you feel that this person is going to serve you well. 
5. Reasonable - do be really confident that your property manager is the right professional for you, I recommend that you listen to your inner instinct and go with your gut feeling. Are the things that the property manager is conveying to you sounding fair and reasonable? or, Are they sounding far fetched and unreasonable? 

Choosing a good property management company is certainly worthy of some consideration but the person delivering the property management services is more important. If you are not getting a good vibration from your likely property manager candidate there is only one to do ... keep searching and interview another one - Common sense must prevail!

If you like what you have just read you might like to learn more by visiting my special report on the 

5 Costly Mistakes Landlords Make With Their Investment Properties.
Written by Chris Snell, Property Manager Melbourne Australia, Rental Success Blog

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