One of the first questions a client asks when they want to lease their property is: "How quickly can you find tenants and what is the recommended rental price?" There are not many times we have been asked to explain how we will market their rental property.
Is there a benefit to better marketing for rental properties?
We have come to realise that nearly half our clients are 'Accidental Landlords' - people who have inherited their investment properties or moved out of their family home and rented it out. So what? Why does that matter? Well the questions and challenges for Accidental Landlords are different to those of 'Active Property Investors' – those who specifically bought their property as an investment. If you are an Accidental Landlord, read on and we’ll talk about why you should care.
Among the largest barrier for most people listing their property on Airbnb is the cost, time and hassle associated with furnishing the property. Additionally, the quality and style of the furnishings can directly impact your guest reviews and therefore potential bookings and earnings – so it is important to get it right. So, LongView has launched an all-inclusive Furnishings service
We take a different approach to Selling your property – it might come as a bit of a shock compared to the industry norm. But before we get into how we’re different, let’s start with something that we all know to be true: The more buyers you have interested and committed to buying your property, the higher the sale price will be. This is hard to argue with. So how do we get more buyers interested in your property?
This property ticks all the boxes.
It is certainly the right time to be buying the property at 4/307 Hawthorn Road, Caulfield North - at $1,175,000.
And the long term investment fundamentals are strong – Caulfield property has grown strongly over the last decade. 3 bedroom units have grown at 6.6% p.a. compound every year (so at this price that’s about $76,000 of capital growth every year).
When listing a property for sale, conventional real estate agents usually require landlords to pay in advance for advertising and marketing. This restricts cash flow until the sale settles and proceeds are received. If the property doesn’t sell then the cost of advertising and marketing has to be worn by the landlord – resulting in a substantial loss without any benefit whatsoever.
LongView believes this is entirely unacceptable and has a solution. LongView cuts any up-front payment to less than 20% of the cost of the advertising and marketing. No further payment has to be made if the property doesn’t sell. This reduces the cost of a failed sale campaign by over 80%.....
How banking misconduct relates to conventional real estate......
Bank lending rules have become stricter as a result of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry. This is likely to continue affecting the price of residential real estate.
As well as its influence on the market, there are some strong parallels between the Commission’s reporting on banking misconduct and equivalent behaviour in the real estate industry. The following table compares four points made in the report’s introduction to conventional practices in real estate industry and the LongView approach.
Owners’ corporation levies are often a substantial cost for apartment owners, but those costs frequently come with bad service. Complaints we often hear include slow or no responses to emails and queries, failing to account for expenditures, no maintenance oversight and engaging negligent maintenance contractors. The list goes on to include weak enforcement of body corporate rules and poor communication with members.
Thankfully, you don’t have to deal with any of these issues on your own. LongView’s owners’ corporation management business (soon to be called LongView Owners Corporation) can act on your behalf.......
Real estate is about more than location, location, location. It’s also about the AMOUNT of land you own in that location.
The basic principle of capital growth in real estate is that the value rises fastest when the demand (the number of people who want the property) is growing faster than the supply (the amount of properties available that meet their criteria).
As we joke on our website, most local agents find a way to tell you it’s always a good time to sell. Why? Because it’s a good time for them to make money from you selling. That is not advice. At least not professional advice.
And, many local agents will give you a 'rosy' view of what your property is currently worth to convince you to sell – they will take 'comparable sales' of similar properties from months ago, when the market was considerably higher – and tell you that is a guide to what you might receive if you start to sell now – and therefore aren’t on the market until a month or two from now when prices will be even lower. This will only lead to disappointment when the market realities become clear.