May 2013

PROPERTY MANAGEMENT

NEWS  

1

A   'hands   on'   tenant   has   cut  a   hole   in   the  floor   of   his   rented   apartment   to   expand  the  property  into  two  vacant  neighbouring  units,   according   to   a   shocked   property  manager.  

The   St   Kilda   tenant   has   given   a   new  meaning   to   DIY   when   he   decided   to  expand  his  property  on   level  two   into   the  level   one   unit   below   and   then   across   to  unit  four.  

According   to   Tara   Hore,   the   Melbourne  Property  manager,   the   tenant  had  been  a  trouble-­‐free  client  for  over  five  years.  That  was  until  an  open  inspection  of  one  of  the  neighbouring  units  recently.  

"We've   never   had   any   trouble   with   him  before,"   she   told   Residential   Property  Manager  yesterday.  

According  to  Ms  Hore,  the  tenant  cut  a  1-­‐metre   by   2-­‐metre   hole   in   the   concrete  floor   of   his   apartment   in   order   to   gain  access   to   the   unit   below.   There,   he  demolished  the  kitchen  to  make  way  for  a  staircase   to   connect   the   apartments.   But  he   didn't   stop   there:   the   tenant   then  knocked   a   hole   through   the   double   brick  wall  to  unit  four  next  door.  

"When  we  entered  unit   four  and   saw   the  hole,  we   instantly   contacted   the   landlord.  He  knew  nothing  about  any  renovations  so  I   knew   obviously   something   was   very  

2

wrong,"  she  explained.  

"As   soon   as   I   accessed   unit   two,   I  contacted  the  police.  

"Apparently   the   tenant   had   told   his  neighbours   that   he   owned   the   units   and  was   doing   renovations,   so   they   thought  nothing   of   it   when   they   heard  machinery."  

"Unit  one  downstairs  has  been  vacant  for  the   last  six  months  as  the  owner   is  going  through   the   process   of   getting   it  commercially   leased   so   no-­‐one   has   been  in   there   since   March   of   this   year,"   she  said.  

"We've   just   currently   started   open   for  inspections   on   apartment   four,   so   we've  been   in   and   out   of   there.   The   last   hole  would   only   be   between   five   and   seven  days'  old."  

Luckily  the   landlord  had   insurance  on  the  property.  

According   to   Ms   Hore,   no   charges   have  been  laid  yet  as  police  are  still  conducting  investigations.   The   landlord   is   also   going  through   the   process   of   evicting   the  tenant.  

It   is   unknown   if   the   tenant   has   any  building   experience;   however,   he   was  sighted   by   neighbours   wearing   safety  goggles  and  a  high  visibility  vest.  

TENANT CUTS HOLE THROUGH CONCRETE FLOOR

Auction Results

SUMMARY AUCTION

RESULTS REPORT for all suburbs in QLD from 29 April 2013 to 30 May 2013

TOTAL SOLD 485 44.2% TOTAL PASSED IN 557 50.9% TOTAL WITHDRAWN 54 4.9% TOTAL NO. OF AUCTIONS: 1096 100%

AREC13 What A Fantastic Event!  

Charles   Whiston   and   Jane   Seymour   from   our   Sales   team   attended   the   world’s   2nd  biggest   Real   Estate   Conference   at   the   Gold   Coast   this   month.   Both   gave   us   raving  reviews  of  the  event.  The  world  class  lineup  of  speakers  at  the  conference  made  it  a  one  of  a  kind  event  with  names  such  as  Alan  Jones  (radio  presenter  and  ex-­‐wallabies  coach),  John  Symond  (CEO  of  Aussie  Home  Loans),  David  Knox  (World  renowned  and  internationally  acclaimed  Real  Estate  Trainer)  and  Chris  Martin   (Author  of  Pursuit  of  Happiness)  taking  the  stage  and  giving  highly  inspirational  and  relevant  talks.  Charles  and  Jane  both  agree  it  was  an   inspirational  event  and  will  be   implementing  many  of  the  clever  strategies  into  our  own  department  routines.  

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"At   least   we   know   he   complied   with  OH&S,"  Ms  Hore  laughed.  

Extract   from   an   article   in   Residential  Property   manager   (Article   by   Stacey  Moseley  -­‐  Thursday,  09  May  2013)  

PS   –  While   at   the   extreme   end   of   the  spectrum,   these   incidents   do   occur,  and  brings  home  to  us  the   importance  of   ensuring   that   we   have   suitable  Insurance.  

Suburbs&

Flats& Houses&

1&bed& 2&bed& 2&bed& 3&bed& 4&bed&

10& 11& 12& 10& 11& 12& 10& 11& 12& 10& 11& 12& 10& 11& 12&

Balmoral 320 405 340 360 390 385 370 385 390 440 440 475 760 885 890 Bulimba 320 405 340 360 390 385 370 382 390 440 440 475 760 885 890 Cannon Hill 240 245 300 360 355 375 350 390 390 410 450 450 450 600 660 Camp Hill 220 230 230 330 350 350 325 400 385 410 420 420 510 530 570 Coorparoo 245 260 260 330 340 350 350 360 360 400 425 450 430 540 600 East Brisbane 310 310 325 430 440 470 355 385 415 450 495 495 545 660 650 Greenslopes 240 260 275 315 320 350 335 370 400 400 400 430 490 N/A 540 Hawthorne 320 405 340 360 390 385 370 385 390 440 440 475 760 885 890 Morningside 240 245 300 360 355 375 350 390 390 410 450 450 450 600 660 Murarrie N/A N/A N/A N/A N/A N/A N/A N/A N/A 365 395 420 450 570 580

Norman Park 240 245 300 360 355 375 350 390 390 410 450 450 450 600 660 Tingalpa N/A N/A 213 285 290 290 N/A 290 N/A 365 385 415 430 430 455 Woolloongabba 220 210 275 380 440 420 375 430 370 380 450 450 550 440 690 Wynnum 200 205 220 300 310 310 320 330 350 380 375 390 500 470 505

June 2012

PROPERTY MANAGEMENT

NEWS !

1

It# has# been# relatively# quiet# on# the#Sales# front# this# month,# inspite# of#the# fact# that# we# currently# have# a#well# stocked# book# of# fairly# priced#listings.# # First# home#buyers# are#out#and#about# in#the#market#place,#but#they# are# difficult# to# pin# down,# and#very# price# aware.# Investors# are#

In#preparation# for# tax# time,# the#ATO#has#put# together# some# tips# to# help#investment# property# owners# correctly#claim# rental# property# deductions# this#year.# # Here# are# some# tips# to# avoid# a#follow#up#from#the#ATO.#Click#on#the#link.#

2

around# too,# but# many# are#submitting# low# offers,# and# are#willing# to#walk# if# their# price# is# not#met.# # Another# interest# rate# drop#would# certainly# help# boost#confidence,# but# we# may# have# to#wait#until#later#in#the#year#for#this.#

1

The#RTA#June#quarter#median#rents#report#has#now#been#released,#with#no#real#surprises.##We#have#compiled#a#condensed#version#including#some#of#our#main#areas,#which#shows#the#2010#–#2012#year#on#year#comparisons.##With#the#exception#of#a#couple#of#glaring#spikes#in#particular#categories#(these#are#usually#caused#by#a#bulk#supply#of#newly#released#stock#within#a#suburb#which#skews#the#local#area#trend)#there#is#a#consistant#thread#

2

showing#an#approximate#10%#increase#in#rental#values#across#all#categories#since#2010.###

We#consider#these#factors#when#we#review#and#make#recommendations#for#rent#adjustments#on#our#management#properties.#We#also#use#these#statistics#to#help#tenants#understand#that#their#rent#increases#are#representative#of#fair#market#value.##See#the#attached#link#for#full#report.#RTA#Median#Rents.

#

Refer&a&Friend&and&Receive&3&months&Free&Management&Fees.&

If#you#know#anyone#who#is#unhappy#with#their#current#service,#Send#Them#to#Us#and#We#Will#Rebate#Your#Fees#For#3#Months!!#

141 Riding Rd Hawthorne Q 4171 Ph: 07 3899 1888 Fax: 07 3395 7246 www.maryannebirch.com.au rentals@maryannebirch.com.au

Property of the Month: BRAND NEW BULIMBA APARTMENTS FROM $379,000!!! Limited  Off  the  Plan  Offer  

2  Bedroom,  2  bath  units  are  priced  from  $499,000  

Register  your  Interest  NOW  to  be  one  of  a  Very  Limited  Number  to  buy  off  the  Plan  and  secure  one  of  these  Superbly  Appointed  Residences  by  a  Reputable  Local  Developer.  

Those  Who  Register  Their  Interest  Early  Will  Have  The  First  Opportunity  Upon  Official  Release.  Designed  Specifically  for  the  Bulimba  Market,  and  delivering  Excellent  Value  For  Money,  Generous  spaces  and  a  Timeless  Style  this  exclusive  offer  is  both  Affordable  and  Risk  Averse  Full  Plans,  Specifications  and  Price  List  are  expected  in  early  July.  Construction  will  commence  January  2014  for  expected  Completion/Settlement  in  September  2014,  Excellent  High  Returns  for  Investors  Spectacular  City  View  (top  floor).  

All  Units  in  441  will  have;  individually  designed  Interiors  by  Renowned  Brisbane  Architects  HAL  Hayes  Anderson  Lynch  Architects,  Spacious  open  plan  entertaining  and  generous  balconies,  Air  Conditioning  and  Designer  Two  Pac  kitchens.    

Another  Glorious  Insult  from  the  Past:  

 "He  has  never  been  known  to  use  a  word  

that  might  send  a  reader  to  the  dictionary.  

"William  Faulkner  about  Ernest  Hemingway Old Sea Story…

There's an old sea story about a ship's Captain who inspected his sailors, and afterward told the first mate that his men smelled bad. The Captain suggested perhaps it would help if the sailors would change underwear occasionally.

The first mate responded, "Aye, aye sir, I'll see to it immediately!" The first mate went straight to the sailors berth deck and announced,

"The Captain thinks you guys smell bad and wants you to change your underwear." He continued, "Garrett, you change with Bowen, Smith, you change with Crean, and Brown, you change with Ferguson."

THE MORAL OF THE STORY: Someone may come along and promise "Change", but don't count on things smelling any better.

Some  renters  may  not  feel  interest  rate  decisions  are  relevant  to  them,  but  those  rates  can  make  a  big  difference  if  you’re  saving  to  buy  or  monitoring  the  market  looking  for  the  right  time  to  make  an  investment,  or  change  your  situation.  Interest  rates  influence  the  housing  market,  including  rental  prices.    

Below  are  the  results  of  a  recently  conducted  survey  of  people  renting  and  sharing.  It  gives  an  interesting  snapshot  of  our  renting  opinions  and  behaviour  around  the  state.  

Queensland  

7%  are  living  in  share  accommodation  22%  are  renting  without  a  lease  (i.e.  month  to  month)  30%  have  been  living  in  their  current  rental  property  less  than  a  year  5%  have  been  living  in  their  current  rental  property  more  than  6  years  46%  rent  because  they  cannot  afford  to  buy  27%  prefer  renting  because  they  can  move  when  they  need  to  18%  can  rent  in  a  better  area  than  they  can  afford  to  buy  11%  prefer  renting  because  they  don't  want  a  mortgage  16%  of  renters  liaise  directly  with  their  landlord

The  Reserve  Bank  of  Australia  has  this  month  cut  rates  from  3.00%  p.a.  to  2.75%    

The  RBA  has  held  interest  rates  steady  since  December  2012,  saying  it  wanted  to  give  them  a  chance  to  stimulate  the  market.  Though  there  have  been  signs  of  growth  and  recovery,  the  RBA  seems  to  have  heeded  calls  for  yet  another  cut  to  push  that  recovery  over  the  line.  

Experts  were  unsure  which  way  the  decision  would  go  and  the  rate  cut  may  have  surprised  some,  but  it  is  very  welcome  to  those  who  already  have  a  current  mortgage,  or  those  trying  to  buy  for  the  first  time.