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
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
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.
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
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.
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
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
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.
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
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
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.
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
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
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
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.
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.
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
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.
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
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.
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
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
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.
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.
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
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.
Previous posts in Main
- Need a New Property Agent? Some Questions You Should Ask to Get the Best (September 10th, 2012)
- Selling your Own Home (September 3rd, 2012)
- Good Presentation Essential for Best Price and Quick Sale (August 27th, 2012)
- Property Management Sydney (August 19th, 2012)
- realestateSydney (August 14th, 2012)
- Know-How Needed for Commercial Property Investments to Generate Profit (August 6th, 2012)
- Maximising your Rental Income (July 31st, 2012)
- Classic Supply and Demand Rule Keeps Rental Prices High (July 23rd, 2012)
- Sensible Strategies for Property Buyers to Save Time and Effort (July 16th, 2012)
- Living in West Hoxton (July 8th, 2012)
- Wattle Grove (July 3rd, 2012)
- Successful Property Managers the Real Multi-Taskers (June 27th, 2012)
- The Affordable Alternative (June 18th, 2012)
- Maximising Investment Potential (June 13th, 2012)
- Find a Real Estate Loan to Suit your Budget (June 3rd, 2012)
- Great Tips to Help you Maximise your Profits on Rental Properties (May 30th, 2012)
- Let Real Estate Agents Help you Find the Perfect Property (May 22nd, 2012)
- Let Professionals Look After Your Property Needs (May 16th, 2012)
- Property Management in Minto (May 9th, 2012)
- Settling Down in Miller (May 1st, 2012)
- Reliable Property Management in Macquarie Links (April 25th, 2012)
- Property Management in Macquarie Fields (April 18th, 2012)
- Property Management in Lurnea NSW (April 10th, 2012)
- The Metamorphosis of Property Management Liverpool (April 3rd, 2012)
- Learning about Property Management Leppington (March 28th, 2012)
- Property Management in Modern Leumeah (March 20th, 2012)
- For Property Management Kearns is the Key (March 14th, 2012)
- A Cameo of Beautiful Kentlyn (March 6th, 2012)
- Hop Into Hoxton Park (February 29th, 2012)
- Heard About Horningsea? (February 21st, 2012)
- Heckenberg in Sydneyís South West (February 14th, 2012)
- Having a Look at Hinchinbrook (February 7th, 2012)
- Hammondville (January 9th, 2012)
- Getting to Know Glenfield (January 4th, 2012)
- Glen Alpine (December 27th, 2011)
- Checking Out Eschol Park (December 20th, 2011)
- Chatting About Casula (December 13th, 2011)
- Checking Out Cartwright (December 7th, 2011)
- Letís Chat About Campbelltown (November 29th, 2011)
- Carnes Hill - A Developing Suburb (November 22nd, 2011)
- The Buzz on Busby (November 17th, 2011)
- The Blurb On Blairmount (November 9th, 2011)
- Buying In Bradbury? (November 1st, 2011)
- Prime Living in Austral (October 26th, 2011)
- Bow Bowing ĖAnother Sydney Suburb (October 18th, 2011)
- Suburban Living at Blair Athol (October 12th, 2011)
- Ashcroft Ė A Developing Suburb (October 4th, 2011)
- Amble Into Ambarvale (September 28th, 2011)
- Progress In Macquarie Fields (September 21st, 2011)
- Living In Liverpool (September 13th, 2011)
- The Lowdown on Campbelltown (August 30th, 2011)
- Rental Bonds-Why are They Necessary? (August 23rd, 2011)
- Are Pre-Sale Renovations Wise? (August 18th, 2011)
- When Tenancy Agreements Should Be Lodged (August 8th, 2011)
- Information on the First Home Owners Grant (July 31st, 2011)
- Tenancy Agreements For Rental Homes (July 27th, 2011)
- Are You Buying Or Selling A Heritage Home? (July 19th, 2011)
- Living with Mortgage Stress (July 12th, 2011)
- Tax Deductions For Investment Properties (June 20th, 2011)
- Real Estate Agencies Starting Anew (June 14th, 2011)
- Deriving Income from Renting Your Home (May 31st, 2011)
- Stemming the Tide of Homeless People (May 24th, 2011)
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