Qld Land Values Update

The Queensland Department of Natural Resources, Mines and Energy has just released the Valuer-General’s 2020 Property Market Movement Report. The purpose of the investigation and report is to assess land values, and is how City Council’s and Land Tax charges are calculated.

Here is a link to the whole report on the Queensland Government’s website:

https://www.qld.gov.au/environment/land/title/valuation/market-reports

Below is the excerpt relating to residential property in Brisbane:

The residential market is the most significant land use with approximately 305,000 valuations in the suburbs of Brisbane. The residential median land value increased slightly from $455,000 to $460,000. The median values of 115 suburbs did not change. There were minor increases to several inner northern suburbs including Kalinga and Wooloowin. A number of Brisbane’s outer southern suburbs reflected minor to moderate increases due to their affordability and increased competition. The new median value for Durack is $280,000. There were seven suburbs that showed slight to minor decreases. The Moreton Island townships of Bulwar, Cowan Cowan and Kooringal showed minor decreases. The land values of the low to medium density multi-unit residential markets across Brisbane have remained static. The land values of high-density sites, located in the City fringe have seen minor decreases as demand for the larger redevelopment sites has softened due to the existing supply of units. The total land value for rural residential land has increased slightly. The median land value remains at $660,000.

How to lodge your rental bond online with the Qld RTA

As the Queensland Residential Authority (RTA) is now paperless (almost), the ways you have previously lodged a bond may no longer be available to you, or your property manager/landlord.

Please note that Australian Identification is mandatory for online lodgement, and the following information provided by the RTA will detail the process, both online and with off, if required.

The step by step process provided by the RTA is detailed here:

The following details and links are from the Qld RTA’s website:

Before proceeding ensure you have 100 points of Australian or state-issued identification ready, including at least one of the following primary documents:

  • Australian passport
  • Australian state or territory-issued driver’s licence
  • Australian birth certificate

We also recommend having a copy of the tenancy agreement available for reference, as this contains information you will need to successfully complete and submit your form.

There are four simple steps:

  1. Read the Terms and Conditions
  2. Register or log in to your QGov account
  3. Complete the online Bond Lodgement
  4. Pay the bond via credit/debit card or BPAY

To lodge a new bond online you will need to verify your digital ID through the Queensland Government’s secure QGov service. You will be prompted to log into your QGov account, or register an account if you are a new user.

You only need to verify your digital ID once to access a number of online government services through QGov.

If you are using QGov for the first time, please watch QGov’s short ‘how to’ video.

More information is available in the QGov Frequently Asked Questions.

If you are lodging a bond online for the first time, please refer to the:

You can also watch a short video below on How to lodge a bond online.

If you do not have Australian issued ID, you can lodge a rental bond using the RTA’s paper-based Bond lodgement form.

Qld Govt. Residential Rental Reforms – REIQ Update

As a Member Agency of the Real Estate Institute of Queensland (REIQ), Managed Property are supportive of their efforts to with the Queensland Government’s review of the Residential Tenancies Act. The following is their feedback on the proposed changes, and their call to action:

The State Government’s proposed rental reforms have the potential to destroy Queensland’s rental market and create the most onerous rental laws in the country.

Take action here: rentalreforms.com.au

With more than 34 per cent of Queensland households in the rental market, our state has one of the highest proportions of renters in Australia. To destablise this market, would detrimentally impact both property owners and tenants.

The REIQ strongly opposes the proposed reforms which are a slap in the face to every day ‘mum and dad’ property owners who provide the majority of housing to Queensland’s renters.

If enacted, the law change would erode fundamental landlord rights and deter property investment across the state.

The reforms’ ripple effect would see renters struggling to find suitable housing under already tight conditions.

In a further blow to tenants, rents are expected to increase by up to $18 per week.

The most controversial and damaging reform is the proposed abolishment of a landlord’s right to not renew a tenancy agreement at the end of its agreed term.

Other proposed reforms include:

• the loss of a property owner’s right to refuse pets;

• the introduction of a tenant’s right to make modifications to a rental property without the property owner’s consent; and

• the introduction of minimum housing standards requiring the rental property and its inclusions to meet prescribed standards and to be in a certain state of repair.

The REIQ is disappointed that property owners have been totally overlooked in this rental law review, and will be actively campaigning against the damaging reforms via a range of avenues, including social media and other shareable channels.

For success, the campaign will rely on the active support of real estate professionals and the community at large.

Now is the time to stand together, and fight against these damaging and disingenuous reforms, which will negatively impact both landlords and tenants.

It’s time to protect people and property.

How you can help:

1) Visit rentalreforms.com.au to download shareable social media tiles, and to send an email to the Premier.

2) Read the Regulatory Impact Statement here.


3) Read and share our latest media release here.

4) Watch and share this video of REIQ CEO Antonia Mercorella outlining her concerns about the proposed rental reforms.

Why the fixed fee?

One of the most common questions we receive at Managed Property is Why the fixed fee?’

This is understandable – our fee structure is different and we are programmed to think that different is bad.

But different can be good, different can save you money and sometimes different eventually becomes normal.

So, why the fixed fee?

Simple, we do the same tasks and spend the same amount of time managing a property whether it be $1000 a week or $10 a week.

Once a tenant is in, the rent gets paid, inspections get done, maintenance is organised and the usual day to day issues come and go.  We know how much it costs to provide this service, we know how many properties each of our property managers can handle whilst providing the service level we want, we have certainty in our cost base.  With this in mind – we can price our service with certainty.

Remember back a few years, we used to not know how much our phone bill was going to be as it was based on phone calls?  Now every person I know is on a fixed plan.

As soon as interest rates go up everyone automatically fixes their home loan – we like to know how much our repayment are going to be.

We do not see fixing management fees as a big deal, we think it makes sense.  We think it is transparent and reflects the job that we do each and every day.

SOOOOO – why do we not fix let fees you ask?

They are fixed – at one weeks rent plus GST.

The task is not fixed, it could take us a day or a month to lease a property, the rent is not determined until a lease is signed, the fee paid reflects this uncertainty of outcome, similar to the uncertainty of outcome of how long it takes to sell a house and how much it will sell for.

So if you are like me and you like to know how much money you are going to spend each year on phone, investments, loans, fixing your management fees is not a far fetched idea.

You are not going to miss out on an essential service, you are just going to know regardless of your rent increasing or decreasing how much you are going to be paying for the convenience of having a professional look after your property.

You know how much your rent is, you can fix your home loan repayments, Why not get a fixed price on property management?

Everyone loves certainty.

We buy property and believe with certainty that it is going to go up in value, we believe with certainty that our property will be attractive to tenants and will be rented at the rate that we want.

Having constants in our life and in our property investment strategy is very important.

At Managed Property, we often get questions from other agents, investors, clients – how come your management fees are fixed?

The simple reason – we know what our costs are, we know how much we need to spend to provide our service, we know the margin we need to make to ensure a sustainable successful business so we can with certainty put a price on our product.

Our product is a fixed service – it should have a fixed price.

If you rent goes up or down, you still expect the same amount of inspections, email and management from your property manager!

Don’t you?

You would not (and should not) put up with a manager saying, ‘due to the fact we get a % of your rent and your rent is going down, I am not going to do your next general inspection’.

Having a fixed cost allows you to plan ahead, work out what your yield is and make decisions about your property investment with facts.

Fixing how much each week you pay your manager to look after your property is a good way to start.

managedproperty.com.au 07 3139 1701

Rents are down, vacancy is up, WHAT IS GOING ON!

2014 was a year of change in the inner city Brisbane rental market.

A quick snapshot :

Rents: Down

Vacancy: Up

Council Rates: Always up

Body Corporate: Always up

Maintenance bills: Continual

Interest Rates: Better than ever

Why?

Rents are down as there is a lot on the market to choose from, developers offer rental guarantees to purchasers buying at seminars focussed on yields, flood the market with sub lease stock and the broader market suffers.

Rents are down as wages are flat and life is expensive.

Vacancy is up due to supply increasing,

Council rates and body corporate costs are always up and interest rates is a different discussion altogether.

I see so many peoples investment strategy based on yield rather than property value as the rental return enables us to fund the property purchase.

There is no point purchasing based purely on yields, rentals are not fixed, tenants are not likely to stay for life and buying purely to either solve a tax problem or achieve a set yield can distract an investor from the fundamental questions we should ask such as:

1: Why am I buying a property?

2: No seriously, why am I doing this?

3: Can I afford it?

4: Am I being told to buy or do I really want to do this?

5: Why does this property work for me?

6: Why would someone buy this from me when I am on the other side of the transaction?

Being clear about your investment strategy and looking at all elements not just yield is always a good idea.

Property is a long term play, it is about owning a location, not about reducing tax, think about what and why you are buying.

 

 

 

Kelvin Grove Property Management

Managed Property service Kelvin Grove and provide property management services to Kelvin Grove for only $22 per week.

Own a Kelvin Grove investment property? Consider getting it managed by a local property management company for a great rate.

Managed Property are conveniently located in Fortitude Valley, within 1km of Kelvin Grove and are open Monday to Saturday from 9am to 5pm.

Al of our Kelvin Grove rental listings are advertised on realestate.com.au and domain.com.au.

Whether your Kelvin Grove investment property rents for $100 or $1000 per week, Managed Property provides full service property management for one low fixed cost.

Our service includes:

– Routine inspections every 16 weeks
– Tight arrears control
– Processing of all invoices for rates, body corporate and water
– Collection of rental and disbursement

We also do letting of your property for the standard rate of one weeks rent + GST which includes the entry/exit condition report.

Try our service today.

Call Managed Property on 07 3139 1701 or email rentals@managedproperty.com.au

Cannon Hill Property Management

Managed Property service Cannon Hill and provide property management services to Cannon Hill for only $22 per week.

Own a Cannon Hill investment property? Consider getting it managed by a local property management company for a great rate.

Managed Property are conveniently located in Fortitude Valley, within 5km of Cannon Hill and are open Monday to Saturday from 9am to 5pm.

Al of our Cannon Hill rental listings are advertised on realestate.com.au and domain.com.au.

Whether your Cannon Hill investment property rents for $100 or $1000 per week, Managed Property provides full service property management for one low fixed cost.

Our service includes:

– Routine inspections every 16 weeks
– Tight arrears control
– Processing of all invoices for rates, body corporate and water
– Collection of rental and disbursement

We also do letting of your property for the standard rate of one weeks rent + GST which includes the entry/exit condition report.

Try our service today.

Call Managed Property on 07 3139 1701 or email rentals@managedproperty.com.au

Festival Towers Property Management

Managed Property service Festival Towers and provide property management services to Festival Towers for only $22 per week.

Own a Festival Towers investment property? Consider getting it managed by a local property management company for a great rate.

Managed Property are conveniently located in Fortitude Valley, within 1km of Festival Towers and are open Monday to Saturday from 9am to 5pm.

Al of our Festival Towers rental listings are advertised on realestate.com.au and domain.com.au.

Whether your Festival Towers investment property rents for $100 or $1000 per week, Managed Property provides full service property management for one low fixed cost.

Our service includes:

– Routine inspections every 16 weeks
– Tight arrears control
– Processing of all invoices for rates, body corporate and water
– Collection of rental and disbursement

We also do letting of your property for the standard rate of one weeks rent + GST which includes the entry/exit condition report.

Try our service today.

Call Managed Property on 07 3139 1701 or email rentals@managedproperty.com.au

Casino Towers Property Management

Managed Property service Casino Towers  and provide property management services to Casino Towers for only $22 per week.

Own a Casino Towers investment property? Consider getting it managed by a local property management company for a great rate.

Managed Property are conveniently located in Fortitude Valley, within 1km of Casino Towers and are open Monday to Saturday from 9am to 5pm.

Al of our New Farm rental listings are advertised on realestate.com.au and domain.com.au.

Whether your Casino Towers investment property rents for $100 or $1000 per week, Managed Property provides full service property management for one low fixed cost.

Our service includes:

– Routine inspections every 16 weeks
– Tight arrears control
– Processing of all invoices for rates, body corporate and water
– Collection of rental and disbursement

We also do letting of your property for the standard rate of one weeks rent + GST which includes the entry/exit condition report.

Try our service today.

Call Managed Property on 07 3139 1701 or email rentals@managedproperty.com.au

Emporium Property Management

Managed Property service Emporium and provide property management services to Emporium apartment owners for only $22 per week.

Own an Emporium investment property? Consider getting it managed by a local property management company for a great rate.

Managed Property are conveniently located in Fortitude Valley, within 1km of Emporium and are open Monday to Saturday from 9am to 5pm.

Al of our Emporium rental listings are advertised on realestate.com.au and domain.com.au.

Whether your Emporium investment property rents for $100 or $1000 per week, Managed Property provides full service property management for one low fixed cost.

Our service includes:

– Routine inspections every 16 weeks
– Tight arrears control
– Processing of all invoices for rates, body corporate and water
– Collection of rental and disbursement

We also do letting of your property for the standard rate of one weeks rent + GST which includes the entry/exit condition report.

Try our service today.

Call Managed Property on 07 3139 1701 or email rentals@managedproperty.com.au

M on Mary Property Management

Managed Property service M on Mary and provide property management services to M on Mary apartment owners for only $22 per week.

Own a M on Mary investment property? Consider getting it managed by a local property management company for a great rate.

Managed Property are conveniently located in Fortitude Valley, within 1km of M on Mary and are open Monday to Saturday from 9am to 5pm.

Al of our M on Mary rental listings are advertised on realestate.com.au and domain.com.au.

Whether your M on Mary investment property rents for $100 or $1000 per week, Managed Property provides full service property management for one low fixed cost.

Our service includes:

– Routine inspections every 16 weeks
– Tight arrears control
– Processing of all invoices for rates, body corporate and water
– Collection of rental and disbursement

We also do letting of your property for the standard rate of one weeks rent + GST which includes the entry/exit condition report.

Try our service today.

Call Managed Property on 07 3139 1701 or email rentals@managedproperty.com.au