DIY not Always the Answer

By realestateSydney - November 26th, 2012, 19:28, Category: General

There are many benefits to having a competent DIY enthusiast in the home these days. DIY has proved a very beneficial area as many people find it cuts costs, as long as the job is done properly. However, there are those who have undertaken a DIY project and found that something has been done wrong or something disastrous happens, and then DIY is no longer saving you money, but costing you more than you anticipated.

There are some investment property owners who like to take care of repairs themselves in their rentals as they find it cuts costs. This may be all well and good in their own homes but there are some areas that DIY should definitely not be attempted, especially in a rental. The property experts at Prudential Real Estate know itís best to hire a professional, every time.

DIY jobs to avoid

In any home, whether it is a rental or not, certain things should not be carried out by just anyone who fancies themselves as being a handyman. Building a bookshelf or repairing a hole in the wall is one thing, but repairs to items such as electrical switches or plumbing should be left well alone unless the repairer is fully qualified and insured.

Tenants and income to consider

Repairing big jobs such as electricals or plumbing without the proper qualifications is a dangerous game and can easily become a nightmare. Aside from the obvious danger to yourself where electrical items are concerned, plumbing and electricity are not cheap items to fix if something goes wrong. Having these items repaired professionally, and correctly, the first time, saves money in the long run.

Where tenants are concerned, they have legal rights to have functioning electricity and plumbing facilities. This means, time is of the essence. If you even have the knowledge to carry out the repairs, you most probably donít have the time. And if something goes wrong, you potentially upset good tenants by rendering them without these facilities for a longer time than necessary.

Investment owners best to stay way

There is a level of privacy that tenants are entitled to and want when they rent a property. It is always best that property owners remove themselves from the picture so tenants do not feel their privacy is being infringed upon or that they are not being left to quiet enjoyment of the property.

Prudential real estate have been effectively managing rental properties for many years and have the knowledge, time and connections to ensure your investment has repairs carried out in a timely fashion that is as cost effective as possible for you.

If you want to find out more about repairs in rentals and the most reliable property management Ingleburn, visit Prudential Real Estate online at website.

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Covering your Assets

By realestateSydney - November 18th, 2012, 21:42, Category: General

Owning a rental property brings great responsibility to the owner. The intended outcome of owning an investment property is to make money. Good solid property management is a must to ensure that the running of the property is well administered and that reliable tenants are in place.

Unfortunately, some tenants can slip through the cracks or something can go wrong with the property that is caused either unintentionally by someone or intentionally by the tenants. Injuries can occur on site too and the owner is liable; this is why it is highly advised that investment property owners should make enquires about having landlord insurance taken out to protect their biggest asset.

Landlord insurance will offer peace of mind to property owners so that in the event of anything unforeseen happening, they can rest assured that they wonít be out of pocket. Of course, the terms and conditions and what is covered will vary from one insurer to the other, but here is some basic information you may find useful.

Donít Think You Donít Need it

An investment property should be treated as a business. Everything relating to it is ultimately the responsibility of the owner and it would not be wise to treat such a role lightly. Even if your tenant is a friend or relative, never assume that all will be well if things go wrong. Often things can turn sour between relatives and friends in such situations so itís always good to be covered.

What is Covered?

As mentioned, what is covered can vary between insurers but as a general rule the following is usually included in landlord insurance:

1. Any damage or vandalism caused by tenants.

2. Accidental damage or loss caused by the investment property owner.

3. Events such as lightning, storms, earthquakes, theft and fire.

Some companies may only cover a stipulated dollar amount chosen by you or offer complete repair or replacement; it is advised to do some searching to compare what is on offer.

Extras to Consider

Legal liability is always a good extra to consider. This means if someone slips on a stairwell that results in an injury and you are found liable, their medical expenses will be covered.

Rent insurance is a must have, in the event that your property becomes unliveable for a period of time or if a tenant defaults on the tenancy agreement and doesn't pay rent, you wonít be left high and dry.

If you wish to find out more about renting your real estate Sydney and understanding landlord insurance, click here to get in contact with the leaders in property rentals.

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What You Shouldnít DIY in Electrical and Plumbing Works in Rental Homes

By realestateSydney - November 14th, 2012, 17:37, Category: General

If you are a rental property owner, the chances are that you would want to keep expenses on your property as low as possible. It is this goal that leads some property owners to attempt do-it-yourself (DIY) on repair and maintenance works in the rental homes.

Not all repair and maintenance tasks can be handled by a property owner, however. Repair works such as complicated electrical and plumbing must be entrusted to the hands of licensed professionals only. There are dangers that could result from the mishandling of electrical and plumbing works.

Aside from the possible dangers, it is also possible that you could be charged for illegal work if you handle some electrical and plumbing work. There are certain plumbing and electrical tasks that are strictly to be done by licensed professionals. As a property owner, you should be careful about fiddling in repair works that are beyond your capacity.

What Tasks Can You DIY?

As a property owner, you are free to carry out repairs on the property, provided that they are simple tasks. For example, you can change the shower head in the bathroom, or you can also replace a washer in the tap, or replace the faucet.

If the task is the mere installation of light bulbs or garden lights, then this can be done by the property owner. It is also safe to perform other simple tasks such as installing a smoke detector that runs on batteries.

Let Professionals Handle It

Although it is possible to find helpful guides that will help you fix some electrical and plumbing problems in your rental home, it is still not a very good idea to risk it. First, there are the potential dangers that may happen if you make mistakes in the repairs. If you do not make the repairs correctly, it might cost so much more than if you had hired a professional to make the repair in the first place.

Problems with electrical wirings, electrical boxes and breakers should not be messed with. These should be inspected and fixed by duly certified electrical technicians. The same goes for plumbing systems. Unless you are only trying to see if a plunger can unclog the drain, it is best to leave plumbing and sewage issues in the hands of professional plumbers.

Electrical and plumbing repairs can be monitored with the help of a reliable real estate Sydney service. If you are entrusting your rental home to Prudential Real Estate, you can be assured of regular monitoring of the condition of the property.

Prudential Real Estate (www.prudential.com.au) conducts regular inspections of the property and obtains repair requests from tenants. From there, it should be easy to determine if the repair requires the services of licensed electricians or plumbers. 

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Buy Property Without Hassles and Enjoy the Buzz

By realestateSydney - November 6th, 2012, 21:10, Category: General

Buying a new home is always an exciting event. It is one of those emotional experiences that never fade, even for people who have bought and sold property many times over. It is also an opportunity to take a different path, meet new people and possibly forge new friendships. It can also be fraught with anxiety and frustration, if a few simple steps are not followed. By all means get excited with the prospect of finding the ideal property, but temper that with caution. This is not the time for impulse buying, or rushing into the first deal on offer.

Does the Budget Match the Buyer's Expectations?

Having a budget figure in mind is a good place to start. Rather than waste time looking at properties outside the budget, buyers should speak to a lending institution or mortgage broker to find out how much money they can borrow. Those who donít have a mortgage broker can get some idea by putting some figures into an online loan calculator. Most lending institutions have them on their websites and this will give a close estimate of what can be borrowed.

The next step is to approach a real estate Sydney agent who will guide the buyer through a process to find out what type of property would be suitable within the specified price range. It would save much time and frustration if some thought had already gone into this. Agents tell horror stories of buyers arguing in their offices because they havenít discussed their wants with each other in detail, as well as which features are not negotiable. This last point is very important. Most people can compromise over some features to secure a desirable property. However, there will always be a few items on which neither party will budge. These need to be identified at the very start.

How to Make Sure Everyone is on the Same Page

Once the buyer has a price range and a clear picture in mind of the ideal property, the agent will have something to work with. A good agent will ask questions to establish that the picture in everyoneís mind, including the agentís, is the same. Now the agent can search the agency listings to match the desired property with what is already on the market. If this preparation is performed well, it is possible to find the buyers their ideal property after only three or four inspections and, at a maximum, ten or twelve.

Now that the buyers have chosen their new home, they should discuss their offer with the agent who will have a reasonable idea of the price the seller will accept. Most times, the price is negotiable, but the amount of movement the seller will accept will vary greatly from one sale to another. However, with a figure verbally agreed upon, the agent will now present the seller with an offer, preferably in the form of a contract of sale with an accompanying deposit.

If all goes well, the offer will be formally accepted. Many agents can also assist buyers in sourcing their loans and recommend a professional conveyancer to prepare the transfer documents and arrange settlement. If you would like more information about buying a property and how a good agent can help, click here. With a little planning all the anxiety and stress will disappear and allow the buyers to experience first-hand the excitement of securing their first property.

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Getting a Loan to Buy a Home

By realestateSydney - October 30th, 2012, 18:03, Category: General

Home buying can be a very exciting pursuit even for those who have done it more than once. However, it is important not to get so caught up in the excitement that you lose sight of the bigger picture and make small or even large mistakes.

One of the most vital rules in home buying is to be realistic. Whether the purchase is for an investment or to be used for personal use, the decision always needs to be made with a level head and some good ground work.

One of your first points of call when buying a home would be acquiring a loan; this is where being informed and realistic can really pay off.

Know Your Limits

The team at Prudential Real Estate understands that you will be keen to get your home buying underway. However, there are some very important steps you need to take first so that each subsequent step is on stable ground.

Firstly, it is highly recommended that you go into a meeting with a mortgage broker armed with current and concise information about your income and expenditure. This means that from the very beginning, how much you may be able to borrow is going to be accurate and you will avoid disappointment thereafter.

It is important that you ascertain the amount of your loan before you start seeking a property, so that you remain looking at purchasing through sensible eyes. It really is a waste of time and sometimes devastating to look at properties out of your price range before you know a borrowing figure.

This is why Prudential take it upon themselves to offer all of their clients professional and knowledgeable assistance in acquiring a home loan. For many years Prudential Real Estate have relied upon the extensive expertise and experience of one mortgage broker.

Each family or person's situation is individual and with Prudentialísí mortgage broker they will be skilfully guided regarding which kind of home loan will best suit them and their needs. Within minutes they will leave with a clear idea of what repayments are needed as well as any other fees that will be incurred.

With Prudential Real Estate you will be supported and informed every step of the way during your home loan application and purchase. They happily and easily answer any questions and offer any advice that you require. You can find out more about their mortgage broker and other services at website.

Following this process, the added benefit of building a strong business relationship with Prudential Real Estate is that should you ever need to rent out your property, they offer proficient property management Sydney services that will be as equally impressive as their sales ethics.

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Obtaining Home Loans via Prudential Real Estate

By realestateSydney - October 23rd, 2012, 18:12, Category: General

As a property investor, your focus should be concentrated on choosing the property that you think will bring in the best profits. That is why at Prudential Real Estate, we help you focus on the essentials of real estate investing, and not on the complexities of mortgage lending.

Prudential Real Estate, which specialises in real estate Ingleburn and other parts of Sydney and nearby areas, provides customers with top-quality assistance in the area of home loans.

Craig Corbett

Prudential Real Estate works solely with one mortgage broker and we have been entrusting him with this task for many years now. Craig Corbett knows everything you need to know about home loans. Backed with extensive experience and knowledge, Craig can offer you the right home loan solution that will suit your requirements.

Give Craig a call and he will sit down with you to discuss your personal circumstances. In a few minutes, he will come up with the best loan option that suits your situation. You can choose to have him arrange a loan that suits your requirements.

Why Choose our Mortgage Broker?

Our mortgage broker is guaranteed to match you with the best loan option available in the market. When looking to buy a real estate for sale, part of our predicament is in acquiring a loan that will best serve our interest. There are various types of home loans, including introductory loans, variable-rate loans, fixed rate loans, transactional mortgage and low doc home loans.

There are currently over a hundred lending institutions that can provide dozens of loan options. If you are knowledgeable enough to determine which of these loan products will best suit you, then you are good to go on your own. But what if you simply just do not have the time to study all of the options available? For your real estate investment to work well for you, you will first need to figure out which loan type to obtain.

Prudential Real Estate would like to make sure that you are getting the best deal for your hard-earned money. This is the main reason the company is helping its customers get the best advice in the area of mortgage lending.

By acquiring the services of our mortgage broker, you are ensured of finding the right bank or lending institution to deal with your real estate requirements. In addition, you also get a good insight as to the best loan product for you.

Selling your Property? Faultless Presentation and the Right Agent are Key Ingredients

By realestateSydney - October 15th, 2012, 22:13, Category: General

A quick scroll through the internet listings of residential properties for sale will show some beautifully prepared properties. Some are mansions and some are modest, but regardless, their owners have made the effort to show them off at their absolute best. Often, however, properties are listed for sale as is, that is, there has been no effort on the part of the owner or owners to present them to their best advantage. There can be many reasons for this Ė absentee owners, deceased estates, or just people who donít realise they are leaving money on the table by neglecting this important part of marketing their property.

Hiring the right agent is equally important. The property can be absolutely spotless, but if the agent lacks experience or ethics or has little knowledge of the market, the seller will be short-changed in service and the final selling price. With these two issues covered, the selling experience will be hassle-free, and lucrative if the market forces are right. The right agent will look after the real estate sales and marketing, inspections and negotiations, and a beautiful property will sell itself.

Getting the Buyers Interested

So what needs to be done to make a property attractive to buyers? From the time a prospective buyer pulls into the driveway, the property is on show. First impressions stick in the mind, and if the outside is unkempt, it will be hard to overcome that emotion once inside, even if the interior is better. Everything in the garden must be neat, tidy, trimmed, mowed and lopped as necessary. Trim garden and driveway edges, remove rubbish, straighten leaning fences, repair windows, doors, guttering and downpipes, and paint where needed.

On the inside, everything must be clean. Get carpets steam cleaned and replace mouldy or old shower curtains and bath maths. Blinds and curtains must be washed and re-hung. Security screens on windows and doors should be repaired if ripped, and again, washed clean. Walls and ceilings also need to be clean and especially free of cobwebs and insect droppings.

Every glass, chrome and metal surface must shine, including the stove and the sinks. Replace outdated tap fittings and fixtures. Light fittings must come down, be washed in soapy water, dried and re-hung. In no time, with little cost, the interior will be sparkling and ready for any inspection. Note that it must be kept like this for as long as the property is for sale.

Choosing a Good Agent

Now that the house is ready, choosing a good agent is next. Look for a real estate Liverpool agency that has been around for a while. An experienced agency already has effective business management and property sales systems in place to make administration and communication easy. They should also have a solid knowledge of the market area around which the property is located. This is important for attracting the most likely purchasers to particular properties.

The agency should use every marketing medium available, but be strongly focused on a professional web presence. Many buyers do their searching after working hours on the internet, so having a web site that advertises on every major real estate web portal casts a much wider net. Coupling that with local advertising through property magazines that go to every household in the area covers all bases.

Testimonials from satisfied clients and word-of-mouth recommendations will confirm that the agent chosen has an excellent reputation. With the right agent and a property fit for any inspection, the seller has done everything possible to get the best price for the property.

Experience and Care the Hallmarks of Quality Property Managemen

By realestateSydney - October 7th, 2012, 20:18, Category: General

Do you have a residential investment property in Sydneyís south-west that is not giving you the returns you expected? Are you unhappy with how it is being managed? This is a disappointing scenario, not just because of the financial implications but also because, no doubt, when you placed the property with your current property manager, promises were made and assurances given. Itís a little bit like a marriage isnít it? Everything starts out rosy with pledges honoured and a big effort put in, but over time it can deteriorate as commitment wanes and reality sets in.

If this is happening to your Liverpool property, itís time to consider divorce, figuratively speaking, and giving someone else a try! And that someone is Prudential Real Estate, the largest single provider of property management services in the south-west. Since dipping their toe into the property management stream over 20 years ago, Prudential Real Estate has grown to the position where they are managing over 3,000 rental properties, and yours could be one of them.

An organisation with this volume of properties under management must be doing something right, and the first point of difference from many other agencies is that each client is assigned a dedicated property manager, so there is a single point of contact for the management of each clientís property assets. This smooths out the lines of communication and ensures that the property manager knows each property like the proverbial back of the hand. This personal contact also ensures that your property manager gets to know you and how you want your property managed, so you are not just squeezed into a ďone-size-fits-allĒ arrangement.

Part of the Prudential Real Estate Liverpool success story is the care they take to assess tenants and match their suitability to the features and facilities of your property. Tenants complete a comprehensive application form requiring several references and qualifying documents, including employer reference checks. Searches of on-line databases are also performed to check information on the application form, so that when a tenant is finally recommended to you by your property manager, you can be confident that all due diligence has been covered.

Your cash flow is protected by Prudentialís financial management systems which require rental payments to be made by direct debit so the rent moves electronically straight from the tenantís account to yours once a week. Tenants donít need to make the trip to the office to pay their rent. This saves them time, money and inconvenience, and is another reason why good tenants stay with Prudential, as their needs are considered as well as yours. This is good news for the property owners, as a happy tenant will always take better care of the property than a disgruntled one.

Your Prudential Real Estate property manager is fully trained in the legal processes involved in managing a tenancy, and all documentation is checked and correct before it is lodged with the relevant authorities. In the unlikely event that anything should go wrong, they are also trained to represent the owner in a Tribunal situation, so everything concerning your investment is covered, from the first inspection to the tenant finally vacating the property.

If you are not receiving this level of care, client service and attention to detail from your current property manager, then Prudential Real Estate  would like to show you how it should be done. After 20 years in the business, their experience and expertise shines through, and the beneficiary of this databank of knowledge will be you Ė the property owner. They are just a phone call away.

Rental Accommodation is Still a Home Ė Choose it Carefully

By realestateSydney - September 24th, 2012, 21:52, Category: General

As the demographics of the country change with the passing of time, home ownership, while still quite high in comparison to other countries, is not the Holy Grail it once was. Many people are making a conscious decision, for all kinds of reasons, to rent permanently or at least for an extended period of time. The market is meeting this growing demand by supplying high quality homes and units in desirable locations, and the spectre of renting is not the onerous situation it once was. However, there are a few things to take into account if you are moving into a rental situation for the first time.

The most important issue to check first is how the property is managed. For tenants and lessors alike, the most seamless and hassle-free arrangement is to rent through a property management services agency. These are property management professionals who take all the steps required by law to protect both the tenant and the lessor, have sound business systems in place so that your bond and rental payments are secure, and attend promptly to any maintenance or nuisance issue you may have.

The location of the property is also important. It should be handy to transport if you need to commute, and be situated in an area that suits your lifestyle. For example, young professionals without families usually like near to inner city living close to entertainment and dining facilities. However, many inner city rentals have restricted access to parking facilities and this could be an issue if you have a couple of vehicles. If you need public transport, check first how available and reliable it is.

If you have a young family, your preference may be for a property with some yard space with a park close by. Schools, sporting and recreational facilities, proximity to shopping centres, whether there are other families living around you, medical and hospital facilities all need to taken into account during the search for the ideal rental property. These are questions you can ask of the property management Sydney agency.

It is also wise to inspect a number of properties so that objective comparisons can be made. Often, for around the same price you may get a much superior property. During the inspection, look carefully at all features, taking as much time as you need to get a solid feel for the place. Be upfront if you have pets. Discuss the issue rather than sneaking the pet in and hiding it during inspections. You may be able to negotiate to pay a higher rental and for professional cleaning when you vacate.

Getting the right property in a rental is just as important as if you were buying the property. A tenant who is happy with where they are living will take care to look after the property and create a true home environment. Take your time, look carefully at your needs and what the property has to offer before you sign anything.

The Importance of Rental Property Preparation

By realestateSydney - September 16th, 2012, 23:45, Category: General

Renting out a property is not just about creating yourself a source of income. There is a lot of responsibility that comes with being a property investor and also some preparation needs to take place when you are going to put your home up for rent.

First and foremost you need to ensure that the property you intend to rent is considered safe and livable. There is a difference between having a tenant and having a great tenant who is reliable and pays the rent on time. If you want to attract the right tenant then you need to ensure your rental property is the kind of home the right tenant wants to live in.

Making sure that all electrical items are in good working condition, and that rooms such as the kitchen and bathroom not only look nice but function well is an essential requirement. It is amazing what a difference a coat of paint and maybe even some fresh carpet can do to lift a home if it is a bit aged.

If gardens are present it is important that these are presented well as on approaching your rental property, this is the first thing a prospective tenant will see. Making certain that the property is neat and tidy also sets a benchmark on how you expect the premises to be treated.

One fantastic way of having all the right work carried out on your home for renting is to hire property management Macarthur. They can organise and oversee any entry and exit cleans, pest inspections and treatments and garden maintenance that is required and will be able to advise on items you could improve to better your rental capability. They also have access to being able to properly screen tenants who apply to reside in your property.

After your property manager has expertly overseen the needed groundwork to get consistent tenants into your investment they will also be able to organise all the appropriate paperwork that is legally required for rentals. It will be their responsibility to have all documentation signed and copies given to parties involved.

From this point you could expect a hassle free tenancy to occur and should the need for any dispute resolution arise, your property manager will know exactly what to do. So save yourself the hard work and heart ache of taking care of your rental property yourself and have a property manager do the hard work for you.

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