Ljg Expresso August Newsletter

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Ljg Expresso August Newsletter

  1. 1. TENANCY AGREEMENTS — TO FIX OR NOT TO FIX? Security is the long standing argument for having a fixed term tenancy agreement in place but there is more at risk for owners than just the Conversely, Christmas is the worst time of the year for the rent coming in. In this issue property to become vacant as of Espresso we look at the a majority of the market will three most important points be on holidays or not in a to consider when setting financial position to make a tenancy terms. change. If the lease ends at this time you could be exposed Start and end dates to uncomfortable periods of The period with the highest vacancy. demand is the beginning of the The solution is to end a fixed calendar year before school term tenancy agreement in and university starts. For an late January so if the tenant owner this can mean elevated does vacate the property, the rent and a choice in tenants. market is in your favour. Remember, fixed term tenancy How long has it been since agreements do not have to be you checked the light bulbs in six or twelve months, they can your investment property or start >> your own home? Energy DID YOU KNOW efficient light bulbs last six Ketchup was once used as a medicine in the United States. In the 1830's it was sold times as long and are therefore as Dr. Miles Compound Extract of Tomato. six times more energy efficient than the old incandescent
  2. 2. << and end when it suits The tenant might say, “we‟re the owner. vacating due to the increase in rent”, they may agree to Validity of insurance renew the fixed period, they You may have a landlord may attempt to negotiate. insurance policy, but did you Whatever the outcome, you know that with most policies, have all the information to you will only be covered for make the decisions that work rent default relating to a best for you. tenant absconding if the tenancy agreement is fixed? Sure you can increase the rent That‟s right. Without a fixed on a periodic lease but when Kulbinder Singh term agreement in place, your will you remember to do this Your Personal Marketing Expert insurance premium is probably again? At least the fixed term Being auctioned off for charity wasted and you are at risk. keeps you to a schedule for the at a conference Make sure you check this point investment. My ideal tenant in your policy and if you find I know what you‟re thinking - a One who works with us to get that you are not adequately fixed term tenancy might still the best for everyone protected, it‟s time to do make it hard to increase the concerned. something about it. rent, but the opposite is true. Increased rental yields A smart negotiation includes a My favourite restaurant Prior to the end of the fixed rent increase at a pre- Wasabi Japanese restaurant term is the perfect time for an determined date during the What I love about Brisbane inspection of the property and fixed term. The tenant still The coffee, the food and the to make sure you would like to needs written notice, however multicultural vibe. keep the current tenants. It is the legislation does allow for also the time to consider a an increase, as long as it is LJ Gilland Real Estate rent increase. Put the offer to written into the terms at the PO Box 19 the tenant in advance of the commencement of the tenancy Zillmere 4034 fixed period ending and seek agreement. T 07 3263 6085 their intentions. If your property is a wealth E admin@ljgrealestate.com.au Following this strategy gives an tool yet your tenants are not owner all the options. currently on a fixed term lease, perhaps now is the time to ask whether a periodic tenancy is really in your best interests for growth.
  3. 3. Go online for inspiration! The latest online statistics released in Australia support what many of us know already – that approximately 70% of purchase decisions are researched online first. So in celebration of this trend to better information gathering I have put together a selection of some of the best property, business and lifestyle destinations on the internet. 1. apimagazine.com.au Australian Property Investor has it all, from trends and market hotspots to renovation case studies and financial articles. An essential bookmark for property investors. 2. energyrating.gov.au Compare the energy efficiency of appliances in your home or investment property with this comprehensive government resource. 3. smartcompany.com.au Stay on top of the latest issues that influence small to medium businesses in Australia. Smart Company is full of news, views and an incredible array of resources for successful business life. 4. homelife.com.au This home lifestyle website lives up to it‟s tag line of „Grow. Create. Decorate.‟ with a gorgeous site that packs in great food and gardening ideas, a design gallery and the all important competition section. I hope you enjoy browsing these websites and look out next issue for our new „Hot Sites‟ feature corner. espresso is created by apmasphere.com Whilst every effort has been made to ensure the accuracy and completeness of the information, no guarantee is given nor responsibility taken by apmasphere.

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