What Happens When Self-Management Goes Wrong

In a recent management takeover case, the owners had previously self-managed their property for five years and saved approximately $10,000 in management fees. However, during those five years, the owner did not conduct any routine inspections, which led to significant property damage. The tenant also stopped paying rent.

The Cost of Neglected Inspections

The damages identified on takeover included a kitchen that needed to be gutted or fully cleaned, a living area requiring a total repaint, busted lights throughout, missing doors, and exterior damage — all estimated to cost between $3,000 to $5,000. Without landlord insurance, all expenses were out of pocket, resulting in a total loss of approximately $40,000 to $50,000.

How a Property Manager Protects You

These issues could have been identified early on if the property had been managed by a professional conducting regular routine inspections. Russell urges property owners to seek professional help if they haven’t conducted routine inspections in over 12 months or are unsure of the condition of their property.

By getting professional help, you can avoid making costly mistakes and losing money in the long run. We encourage owners to take advantage of the current strong rental market and ensure their investment is well-protected.

Don’t risk your Brisbane investment without professional management. Discover how Pure Real Estate’s property management protects landlords every step of the way.

The post The Dangers of Not Hiring a Property Manager appeared first on Pure Real Estate.

As a property owner, you want to ensure that your investment is well-taken care of. Renting out your property may seem like an easy task at first, but there’s much more that goes into it than meets the eye. From finding tenants to dealing with maintenance issues, property management can be a full-time job. That’s where property managers come in.

Water and Rates Management

One of the most important aspects of property management is water and rates management. At Pure Real Estate, we take care of this for you. We ensure that water bills are paid on time and the tenant is charged for their usage. This ensures that there’s no delay in payment and the property owner doesn’t have to worry about the process.

Maintenance Management

Maintenance is another important aspect of property management. We have a team of licensed tradespeople across Brisbane who are available to handle any maintenance issues that arise. Our tradespeople provide competitive quotes, and we ensure that they have the necessary licenses to operate.

Rent Negotiations

Rent negotiations can be a tough process, especially when tenants are upset about rent increases. That’s where we come in. We find out the market rate for rent and negotiate with the tenant on your behalf. We explain to the tenant why the market has gone up and why the rent increase is necessary.

Handling QCAT Cases

QCAT cases can be stressful and time-consuming. At Pure Real Estate, we handle the process for you. Our team is trained to handle these cases and ensure that the property owner’s interests are protected.

In conclusion, property management is much more than just finding tenants. Hiring a property manager ensures that your rental property is well-taken care of, and that you have peace of mind knowing that your investment is in good hands. If you’re looking for a property manager in Brisbane, look no further than Pure Real Estate.

Disclaimer: The information provided is intended to be accurate and helpful. However, it is the responsibility of the reader to verify any information before making any decisions or taking any action.

Discover the Pure Real Estate difference. Our Brisbane property management team delivers proactive, transparent management for Brisbane landlords.

The post Pure PM Chat Episode 05: The Pure Real Estate Difference appeared first on Pure Real Estate.

Ready to present your Brisbane home for sale? Get a free property appraisal from Pure Real Estate and find out what buyers are looking for in your suburb.

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Can Landlords Still Refuse Pets?

In the past, landlords had the ability to approve or deny pets in their rental properties. However, this has now changed, and landlords are no longer able to refuse a pet unless there is a prescribed reason. These reasons include having too many animals at the property, the property being unsuitable for a pet, or if it contravenes a bylaw. This change in legislation aims to provide more options for tenants with pets and makes it more difficult for landlords to refuse a pet without a valid reason.

Conditions Landlords Can Still Require

Landlords can still stipulate requirements for pet approval, such as professional carpet cleaning and pest control. These requirements ensure that the property is well-maintained and that any additional wear and tear is addressed. Additionally, it is important for landlords to check their insurance policies to make sure that pets are covered.

The Benefits of Pet-Friendly Properties

Despite the potential for additional wear and tear, tenants with pets tend to take better care of properties and stay longer. This is a win-win situation for landlords as the property is well-maintained and there is less turnover of tenants.

The changes in legislation related to pets in rental properties provide more options for tenants with pets and make it more difficult for landlords to refuse a pet without a valid reason. At Pure Real Estate, we strive to stay up-to-date on all changes in legislation to ensure we are providing the best property management services for our tenants and clients.

Disclaimer: The information provided is intended to be accurate and helpful. It is the responsibility of the reader to verify any information before making any decisions or taking any action.

Ready to buy your first investment property in Brisbane? Talk to Pure Real Estate’s property management team about what to look for in a Brisbane investment property.

The post Pure PM Chat Episode 02: Pets in Rental Properties appeared first on Pure Real Estate.

What’s Included in Our Promotion

Our standard property management agreement includes this special offer, which means that you will not have to pay any costs during the first three months of our services. And switching over to us is easy — we will handle all the details to ensure a smooth transition.

Our Property Management Services

We provide a comprehensive property management service, including:

• 3–4 routine inspections per year, complete with photos
• Weekly rent disbursement and statements
• An end-of-year financial statement and access to an owner portal through PropertyMe
• Dedicated, experienced property managers
• Trusted tradespeople who have been working with us for many years

Additional Fees When Securing a New Tenant

When it comes time to secure a new tenant, there are only a few additional fees to consider:

• $88 to $120 for online marketing, including listing on Realestate.com.au
• $200 for professional photography and drone images, plus a Matterport virtual 3D tour (if required)
• A letting fee of one week’s rent plus GST

Don’t miss out on this special promotion — contact us today to learn more. Please give us a call on 0406 743 965 or submit an online enquiry.

Find out how you can get started with Pure Real Estate’s Request Appraisal. Our Brisbane property managers handle everything so you don’t have to.

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Suburb Overview (April 2020 – April 2021)

Growth
The real estate market in Inala grew 7.1%
The median price of a 3 bedroom house in Inala is $368,000

Properties Sold
173 detached houses in Inala sold
2 units in Inala sold

People 
There are around 15,000 people in Inala
The median age is 34
In Inala, 45.9% of residents are born in Australia
53.8% rent their property
41.4% own their property or have a mortgage

Summary
Inala offers opportunities for both owner-occupiers and first home buyers to purchase a fully detached house on a decent sized block at a competitive price.  Inala also suits investors, as it has both affordable properties and a high demand for rentals.

Thinking of investing in Inala or Brisbane’s south? Talk to Pure Real Estate’s property management team about managing your investment in this growing suburb.

The post Inala Suburb Snapshot appeared first on Pure Real Estate.

It’s a good question, and at the time was helping a friend buy a property so I thought I would give you a real life example of what I would do.

My friend’s requirement was to pay less in mortgage repayments than rent ($400pw) and be within 30 minutes drive from their work in Kelvin Grove.

Property type didn’t matter as they planned on only living in the property for 12 months to take advantage of the first home buyers incentives and then turn it into an investment property so a good rental return was also a requirement.

$20,000 deposit was what savings they had and $5,000 to renovate if needed.

After looking at affordability and locations, we settled on the southside of the Brisbane river.

We started the search and added alerts for all properties under $400K from Rocklea to Ipswich.

We identified Inala as a good starting point as you could find a solid house for under $350,000.

After looking for a number of weeks, we ended up putting an offer in on a 3 bedroom house on 1072m2 that was accepted.  Asking price was $360,000 – we paid $340,000.

Loan repayments of $300pw and the $5,000 was needed to make the property liveable.

Renovation Costs

Painting $1,000
Rubbish removal $150
Electrical works (fans and lights) $2,500
Floors $500
Second-hand Kitchen $150

With the above renovation costs, the new owner did all these works themselves, saving them on paying tradesman (other than electrical works).

Total costs of purchase including renovation = $348,000
Value after renovation = $380,000+

It’s a hard property to put a price on now that it is cleaned up, but properties are selling from $360,000 to $410,000 for clean property on 600m2 blocks.

Rental appraisal = $340 to $360pw.

Photos to come in a couple of weeks.

If I was looking to buy my first home or investment property, this would be the kind of property I would be looking at.

Good opportunity for growth, instant equity, and cash positive returns in a location less than 30 minutes to the Brisbane City.

Ready to buy your first home in Brisbane? Talk to the experts at Pure Real Estate. Get a free property appraisal to understand the local market before you buy.

The post First-Home Buyer Question and My Answer appeared first on Pure Real Estate.