Selecting a rental property to live in is a personal decision. But there are some general features to look for, whether you’re renting in Eden, Bega, Cooma or Merimbula.
• Security features are an important starting point. Deadlocks, locks on windows and alarms will all help to keep your personal effects safe and secure. They will also affect insurance premiums.
• Designated spaces for fridges and washing machines should be measured. The last thing you want is to have all your furniture moved and to realise that some items do no fit through doors or into the areas you want them to.
• If you are renting a unit in Merimbula, for example, the owner of the unit normally maintains gardens. If you are in a house, however, make sure the amount of maintenance you need to perform isn’t too extensive.
• The heating and cooling of a rental property is extremely important. If you are looking at Cooma rental properties, make sure the heating and cooling systems work effectively. In Bega rental properties, this is also important. You want to live comfortably, and if the rental property lacks in either heating or cooling, those winter months will not be pleasant.
There seems to be a certain amount of optimism in property at the moment. In the Merimbula, Eden, Bega and Cooma areas there appears to have been more properties selling in this last month and a heightened increase in investing again. A compelling argument could be made for 2012 being the best year in the past decade to buy residential property.
Australia’s housing market correction appears to be slowing, with values achieving their best result in seven months, according to RP Data. The company’s home value index reports regional house values recorded a positive result in the month of September, rising by 0.1 per cent.
The 8.1 per cent lift in consumer confidence, as well as rising speculation that interest rates are continued to head south, are likely to be drivers of this improvement.
There has been continued strong growth in rents, which according to the Australian Bureau of Statistics expanded by 1.2 per cent in the September quarter and by 4.6 per cent over the year. This has meant that gross total returns for homeowners have actually been positive.
In today’s challenging times, property owners can’t afford NOT to have professional property management watching out for their investment and maintaining the value of their asset. Property management services are affordable. When weighing your options and making the decision of whether you will manage your investment portfolio yourself or hire a property manager, there are many things to consider.
• You should consider the time and energy you will expend to manage, maintain, market, and lease your building over the duration of ownership.
• Also consider the time it will take you to research and educate yourself to stay current with changing laws.
• Think about the hours spent fielding tenant calls.
• Don’t forget doing regular and frequent property inspections.
• And to build in time for building and maintaining relationships with your tenants!
Ask yourself, “what is my time worth to me?”
Call our property managers if you want help to make a profit, while maintaining the value of your asset.