Blog

Thanks for the Award!

There we go, my first video.  If you don’t want to watch it (don’t blame you) we just wanted to thank all our landlords, tenants and trades for winning the Property Management Department of the year across the whole Eview group (3rd year running – must be doing something right).

So if you want your property to be managed by an award winning property management team, get in touch!  I can be reached on 0497 888 087, michelle.evans@eview.com.au!

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Yes… that is free landlord insurance.

Yes, it’s as good as it sounds – sign up your hard earned investment with Eview Werribee in Spring, and we’ll pay for your landlord insurance (or landlord insurance renewal).  What are the conditions you ask?  No fine print hidden here- all you have to do is sign a 12 management authority with us, so that we can look after your investment property.  The insurance company will need to talk to you (just to confirm that you’re the owner of the property and you want landlord insurance – who doesn’t).

Call or email me today to discuss! michelle.evans@eview.com.au / 0497 888 087.

Why is Landlord insurance so important?  Many who are new to investing, my not realise that building insurance does not cover you for a lot of things when your house has been turned into a rental property.  For example, if someone stole your appliances while the house was vacant – Landlord insurance covers this!  The same as accidental damage from the tenant – cooking fires and the like are not covered by most building insurance policies when the property is tenanted.

Don’t risk it – select the right, experienced agent to look after your rental (us of course), combine that with landlord insurance for the unexpected, and your investment will basically be bullet proof!

What did that rent for?

Have you ever wondered what a property leased for?  When it comes to real estate – information is power.  Good agents make recommendations based on market data and to do this, we have access to information the general public does not.

For rental appraisals for example, we offer our owners current market data, and recently leased market data so they in turn can make an informed decision on what to do with their property (whether it’s a rent increase or determining what price to set their rental price at).

If you have an investment property, when was the last time you conducted a rent review?  Any rent review should be completed 3 months before the lease ends (to allow for sufficient time to send out appropriate notices), or, every 6 months.

Would you like to have this information on your property?  All you have to do is get in touch with me, provide me a property address in Victoria and I’ll arrange an appraisal for you!

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Nightmare house part 2

As you would have seen last week, we were left with a house destroyed by drug dealing tenants (confirmed by the police).  It took 2 months to get them out of the house (even though by that time they were almost 5 months behind in rent – but that’s another story).  The damage – all that was covered by insurance were the doors and the tiles – malicious damage, everything else  considered wear and tear.

Was rent covered?  No – this you need to be aware of, if you buy a house and the tenants are in rent arrears, no matter whether or not this is your fault, it is not covered by insurance.  So out of what was over $15,000 in the end, the owners only received $6,000 to put towards the repairs.

Depressing story, I know, but now that it’s July, and the owners have put in a fair amount of elbow grease, and the house is ready to lease (tenanted same week it was available).

Images below!

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It is now rented to a lovely family, in Werribee (it’s a 3 bed 1 bathroom property), at $300pw (considering it was getting $1000pm prior, $300pm more isn’t a bad increase – not enough to cover the work involved, but again, that’s another story).

How did we help?  For no additional charge, we evicted the past tenants, obtained the bond, did the insurance claim for the owner and helped them through the renovation process until the happy ending of a new tenancy!

Self managed nightmare repair part 1

Happy new financial year!  I thought I’d start off with a 2 part story about a self managed property.

Here we have our poor hopeful lovely owners who secured a ‘bargain’ property sold through a local Werribee agent.  It had tenants in it, was receiving regular income, great!

The day prior to settlement though, their conveyance receives notice that, sorry, owner self manages the property and was only using an agent to sell, he made a mistake and the rent was in fact, 2 months behind. Oops, sorry.  Also, they didn’t get to do a pre-settlement inspection – sales agent said it would be fine and the tenants were tired of allowing access…

For most investors, alarm bells would be ringing loud and clear!  But sadly, our lovely owners went through with settlement, thinking the sales agent said their property management department would take over management and all would be well.

A week after settlement, the owner received the property file in the mail – sorry, too hard for us to manage, we’re terminating our agreement to manage the property.

Here is we step in.  Short story sort, another 2 months later and finally we get possession of the house (kicking, screaming, police at the property, lock changing possession)

Below is what the house looked like after that moment;

This was in February 2017.  Tune in next week for what it looks like now!

Scary drug house story – why you should work with your agent!

Below is an abbreviated version of a story published on domain.com.au in relation to an agency who seemed to care more about getting the money to the landlords whatever the cost, more so than doing the job properly to ensure the right tenant is found.

A recent VCAT case and consumer affairs investigation has recently found a south east Melbourne agency guilty of breaching the agents code of conduct.  It has been found that said agency leased 21 properties to a local sports bar manager.

Depreciation Schedule – do you have one

If you’re a first time investor, then you might not know about depreciation schedules.  The basics of it are – you send out a qualified depreciation agent to go through the property so that everything in the property can be given a depreciation value over 10 years.  This then applies against your tax return saving you money!

To ensure we look after our clients, we have arranged a discounted rate through Costin Quantity Surveyors.  Mention Eview when booking your tax depreciation to get your report for $440!  (the cost is also tax deductible).

Wise words I once heard from an accountant were ‘We all have to pay taxes, but there is no need to leave a tip!’.

If you want to discuss any other things that can help minimise your taxes against your investment property, get in touch!

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3 Months free management offer

So, we’re in the last month of the financial year and this is the best special offer we’ve ever run.  For all new landlords that transfer their property to us this month, they will receive 3 months free management!  On a $300pw property, this is a saving of $258.13 to start your new financial year off on the right foot!

Why transfer your property?

  • We offer great service with experienced staff (21 years alone between myself and Neval, our other property manager)
  • We care about your properties! (When was the last time you received a photo texted to you simply because your PM was in the area – if you only hear from your PM with bad news, then you’re not getting the service you deserve)
  • We tell it like it is – are you a long term investor that has experienced issues in the past because your PM was too afraid to tell you something?  Maybe they thought no maintenance was good maintenance, or they tried to sweep those 3 dogs and their land mines under the carpet once they found out the no-pet application miraculously had their long lost pets found against all odds?  Then this is part of our service that you’ll actually appreciate.
  • We’ll fight for you! Have you ever had someone simply write off an arrears debt because it was over the bond?  Just this week we recovered the last of an outstanding debt from a vacated tenant – apparently they didn’t appreciate us contacting all their emergency contacts / references and workplaces to finally collect what was fully owed.

What are you waiting for, contact me today so we can get the transfer process started.  What’s the small print you ask?  Easy.  To qualify for the 3 months free management, the management fee is 6.6% including gst, and all we ask is for a 6 month commitment.  If you’re not satisfied after 6 months of our service, you’re free to leave.

24 Hour Service?

This is a question that many property managers discuss among themselves.  Do we provide a 24 hour service?  Emergencies can happen at any time, so is a property manager on call every moment of every day?

When asking a property manager, the answer is ‘No, don’t be silly.’  But when you ask a landlord or tenant, the answer is increasingly becoming an indignant ‘Yes ,of course’ and often when they call at 7am in the morning or 3pm on a Sunday afternoon they’re surprised that no one answers.

Here’s the challenge we face – mobile phones, laptops, tablets – they all allow us to be accessible 24/7, but if you think about those industries that are on call, available 24/7, think about how much they charge.  A lawyer is going to answer / have meetings with their clients at any time of the day, but I’d shudder to think of the hourly cost – $300ph, $500ph… Yet, on a $300pw property, how much do you think a company is earning – somewhere between $15-26 per week, and that’s not what the property manager themselves is being paid.  Turn that into 150 properties and that’s $2250 – $3690per week.  168 hours in a week = $21ph best case scenario (And again, that’s the company, not what the PM is getting paid)

Would you be on call 24/7 for well under $21ph?

Thanks, but no thanks.

So how do we get around the seeming need for 100% access 100% of the time?  Without charging 15% management commission? (Though, if you want to list 150 properties with me at %15 commission, I’d put my hand up as a business owner to be available 24/7 I can tell you that now)

Here’s how we provide our service;

  1. The after hours contact is spread around.  So it’s not 1 person on call all the time.  We have an office number, with a voice mail that provides urgent trade contacts and an emergency mobile number.
  2. We understand that not all hard working landlords or tenants can be available during the day, so we offer an after hours call schedule – it’s much easier (and a much better work life balance) to book in a phone conference at a set time outside normal business hours than it is to have someone call you in the middle of trying to get your kids to bed for example.
  3. Business owner is always available.  It’s a hard job, but someone has to do it.  as the owner of Eview Werribee, Bryan’s number (which is on all his cards, online, on the website) makes him accessible 24/7.  Will he answer the phone at 3am in the morning?  Unlikely, but if you book in this time for an international conference call then that’s a different story.

Am I available 24/7?  Almost.  The benefit of being an employee over being a business owner.  (I am typing this on a Sunday afternoon but hey, it’s more interesting than the footy right now).

As a landlord, what are your expectations?  As a tenant, how contactable do you think your property manager should be?  Let me know, I’m always interested in feedback.

We’re expanding!

Exciting news.  Eview Werribee is expanding!  With recent staff additions (We hire before we need to so that we can continue to service our clients during periods of growth), we now manage not only the West of Melbourne, but the North as well!

I personally owned my own investment property and lived in Craigieburn for 5 years and now, we have Dianna who joined our office at the start of the year, who still lives there!

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So, as per my awesome map, we now look after a broader area.  Already some of our current landlords (who had been asking for some time for us to look after their other properties) have bought over their investments so why don’t you do the same?

How do we manage such a wide area some may ask?  It’s simple – we manage where we live.  I live in Bacchus Marsh, our office is in Werribee – so it makes sense to manage everything in between because I drive it every day.  Same goes with our other staff who live in Geelong Craigieburn, Point Cook, Sanctuary Lakes, Wyndham Vale and Hoppers Crossing!

Would we manage outside this area?  Currently, no, as a company, we are only prepared to manage the areas where we are able to deliver a high standard of service.  So what are you waiting for, tell your friends and family that we can now offer a wider range of help with their investment homes!