Developing Our Farm

Co-investing in property with your siblings

Posted by on 4:01 pm in Uncategorized | Comments Off on Co-investing in property with your siblings

With the growing price of housing in Australia, finding the deposit for a property investment can be hard. If you are not yet ready to settle into a property purchase to live in but want to park your existing home deposit in the property market then co-investing in a investment property with a sibling can be a good option and is becoming more and more popular. Here are some things to consider when contemplating co-investing in property with your sibling.  Will either of you be looking at living in the home? If one of you is looking at this purely as an investment, while the other will live in the property, then this can make the decision in choosing the property harder. Make sure that both parties have an equal or proportional vote in selecting the property you will buy, as you both want to be happy with the decision. Decide early on how to prioritise which areas you will be looking at as well as the type of properties you will look at (houses, units or villas). These will depend on whether you are prioritising something that will earn bigger rentals now or is more likely to have longer term capital gains (but is less desirable at the moment).  How will you manage the decision relating to the property? If one of you is hard to locate with, for example if you are on a working holiday overseas or working in a remote site you might need to delegate authority to the other sibling or use a rental agent to make similar decision in the short term. By discussing early on how you will make any decisions you can avoid later arguments about repairs and bills.  How will you exit the property? While you might buy the property together as singles, over time one or both of you might like to either buy a house by yourself or with a partner and need to access the money you have tied up in your investment property. This might not necessarily come at a convenient time for the other sibling, so it’s best to agree ahead of time on how you will deal with it if one of the siblings needs to sell out before the other. It can be useful to record some of these decisions in a document you both sign so you don’t need to remember all of the conversations. Once you have made all these important decisions it’s time to move on to the next decision, choosing a suitable property. A real estate agent or broker can help you to find the perfect property for sibling property...

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Property Owners: Are You Too Emotionally Involved With Your Investment?

Posted by on 12:49 pm in Uncategorized | Comments Off on Property Owners: Are You Too Emotionally Involved With Your Investment?

There’s nothing wrong with being overly proud of owning an investment property, but is this pride interfering with the way you deal with it? As a first-time investment property owner, you need to know about the dangers of becoming emotionally involved with your rental property. Being able to recognise in advance that you aren’t dealing with this situation effectively could stop you from losing money in the future. What Are The Signs Of Emotional Attachment? Before you can tackle being emotionally involved with your investment property, you first have to recognise some of the signs that you have this problem. Do any of these ring true to you when you think about your rental? Your list of rules you expect tenants to abide with is as long as the list you have for your teenager. You constantly think about the property and make up reasons to visit it. You are overly picky about the quality of tenant who applies for the property. You get offended if there is an issue with the property and the tenant contacts you about it. If you nodded your head to any of these statements, then you can admit to having an emotional attachment to your rental that is going to make it hard for you to manage this investment. Why Is Being Emotionally Attached A Problem? There are two main problems when it comes to being overly attached to a rental property. Firstly, you could be overstepping the boundaries of the rental laws of your state with your constant visiting. In Queensland, for example, the Residential Tenancy Authority states you can only enter the property at any time if the tenant agrees. If they do not agree, then you have to give written notice of your intention to enter. If you wish to do a visual inspection, for example, you need to give 7 days written notice, and you can only do this inspection every three months. If you overstep these boundaries, your tenant can lodge a complaint with the RTA. Secondly, requests for improvements to a rental property are going to increase its value at the end of the day, and they are not a personal attack on you as the owner. When you can’t see that, you could be ignoring maintenance requests that will grow into more expensive problems when they are ignored. If you don’t think you can take a step back from the day-to-day running of your property, then you need to enlist the help of a property management company to take care of this for you. When you’re not forced to think about the property on a daily basis, you will be able to break your emotional attachment to it. This means you can make wiser business decisions with your head rather than your heart. For more information, talk to a company like Verse Property...

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Bed Bugs: The Two Best Products For Stopping Them Without Spending A Fortune

Posted by on 3:15 pm in Uncategorized | Comments Off on Bed Bugs: The Two Best Products For Stopping Them Without Spending A Fortune

Bed bugs are the silent bandits, staying hidden under your bed sheets and causing mayhem. If you’re suffering from a persistent itch when you sleep in your bed, or you notice small blood spots on your sheets, there is a good chance that you have a bed bug infestation. The reason that bed bugs stay under your sheets, and in dark places, is because they love the warmth and they have easy access to food. Not only do they thrive in bed sheets, but bed bugs are also attracted to areas that contain food sources. This means that you can find them anywhere in your home or even your car. Therefore, you will want to get rid of these nasty pests quickly. In many scenarios, particularly if the bed bug infestation is highly severe, you will likely need to call in a pest treatment professional. However, there are a number of incredibly efficient and cheap tactics you can use in your home to reduce the spread, while protecting yourself from the bites.  The Magic Of Baking Soda Baking soda is an effective bed bug repellent due to the strong drying properties in the powder. As a result, baking soda is effective in absorbing the moisture from the bed bugs. It can therefore act as a strong repellent. There are a few ways to apply baking soda to reduce the impact of bed bugs. If your bed bug infestation is under your sheets, an easy and effective method is to simply sprinkle the baking soda under the bed itself. Along with this, you can sprinkle some of the baking soda directly on your mattress, but only before placing the cover over. This is to avoid smearing the powder on your clothing when you sleep. When doing this, make sure you sprinkle the baking soda in the creases of the mattress. This is because the creases are a popular breeding ground for bed bugs.  It is recommended that you vacuum the baking soda from beneath your bed after a few days, before you decide to re-apply. Lavender Oil As A Handy Alternative While baking soda is the most effective solution that you can use at home, there are alternative options available to you, including lavender oil. While also incredibly cheap, lavender oil is simple to apply and works as a great bed bug repellent. This is because the bed bugs hate the powerful, pleasant smell that is produced by the oil. You can apply a few drops on your bed, particularly on your mattress. This will last for a few days and will help keep the bed bugs away.  ...

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Tips for Buying a Holiday Home

Posted by on 11:25 am in Uncategorized | Comments Off on Tips for Buying a Holiday Home

Making sure that you have enough money to live well in your twilight years is extremely important, but it’s not easy to know how and where you should be investing. But what if your investments for your future could actually enhance your quality of life today and not just in the future? A holiday home is one such property investment – something that will grow in value over time (with luck), that you can rent out to other holiday-makers, and that you can use for your own holiday adventures. But investing in a holiday home is easier said than done. What should you be aware of before you sign on the dotted line so that your investment gives you the best possible return? Rent before you buy. Although you might want to make a purchase straight away, it’s a very good idea to rent for a while in your chosen area and experience it across all four seasons. This is important because you want your holiday home to make money for you throughout the year, and you can only know if this is possible by actually experiencing it during all the seasons. For example, if the main draw of your property is that it’s beach facing but you are unaware that seaweed litters the shore for four months of the year, this could be an issue. Understand the maintenance costs. Just because you don’t spend as much time at a holiday home doesn’t mean that it’s maintenance free. In fact, it could actually require more maintenance than your regular home. For example, oceanfront properties can get attacked by waves, which could lead to things like damage to the paint job of your home, damage to the structural integrity of your home, or even flooding in extreme situations. Be sure to factor in the cost of property management before you invest. Up and coming areas. If you are lucky enough to be able to buy property in prime tourist hotspots, you will almost be guaranteed a certain amount of rental trade as long as your home is kept well – although you should be wary of paying over the odds for any property because you might experience less growth in the value of your property. Instead, it could be worth punting on a property that you believe is in an up-and-coming area for tourism. This way, your initial investment will be lower and there will be greater scope for your investment to grow over...

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Five Tips for Successfully Packing Your Children’s Rooms

Posted by on 3:22 pm in Uncategorized | Comments Off on Five Tips for Successfully Packing Your Children’s Rooms

Packing your home for a move is always a challenging process, and children can make it even harder. Luckily, there are tips that can help. When packing your kids’ rooms, in particular, take advantage of these ideas: 1. Progress slowly. Don’t shock your child by packing up almost everything they own while they’re away at school or daycare. Instead, progress through the process slowly. This helps your child acclimate to the idea of moving while also allowing you to get things done. Start with the closets and the least used drawers. Take the opportunity to purge what your child no longer needs and pack the rest. 2. Remove packed boxes. Once you’ve packed the boxes, don’t leave them in your child’s room. For small children, they can be a dangerous climbing temptation, and older children may unpack them. Instead, move them to a central location — a storage pod from a removalist company, your garage or the living room. 3. Leave out some toys. Your kid will need something to do so make sure you leave out at least a few toys, some art supplies or their favorite electronics. To keep it pared down to the essentials, use the box test — leave an unsealed box on their dresser, desk or floor. All of the not-yet-packed toys should fit into it. 4. Get the kids involved. If your kids want to be involved with the process, keep them busy by assigning them tasks. Direct older children to choose toys or clothes to donate to kids in need — knowing they are helping others can be a great motivator if they are reluctant to purge their possessions. To keep kids who are too young to really help involved, give them a small box, and let them pretend to pack some of the toys you are packing yet. 5. Make it fun. Don’t leave your packing to the last moment and attack it in a stressed and harried manner. Instead, start early and make it fun. Listen to music you and your kids have listened to throughout the years in your home, and as you decide which items to keep or discard, take a few moments to remember together. Make it fun for the kids by letting them decorate the boxes with fun art supplies and by dancing as singing as you pack. For more tips on packing children’s rooms or other areas of your home, contact a removalist in your area....

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4 Important Things To Look For In A Commercial Property Maintenance Company

Posted by on 4:53 am in Uncategorized | Comments Off on 4 Important Things To Look For In A Commercial Property Maintenance Company

If you are responsible for the management of a commercial property, working with a commercial property maintenance company can greatly ease your workload. The company can step in to work on maintaining the state of the property while you focus on other aspects of the property such as security, tenancy, and the customers. In general, there are 4 major factors you should look into when looking for the ideal commercial building maintenance provider. Read on to see what they are. Brand reliability Above everything else, the most important quality you should look for in such a company is their reliability. That is, can they deliver as expected? Will they carry out repairs on time and to the expected level of quality? There are several indirect ways to ascertain this. One of them is to check the size of the company. How many staff members do they have and do they have the necessary equipment? You can also ask what other clients (preferably with buildings as large as yours) they are currently serving. You can then contact the property manager(s) there and find out if they are satisfied with the work being done by the company. Variety in services offered Considering that a commercial property maintenance company is supposed to make your work easier, it’s best if they can handle all the jobs you need done. That is, they should be a one-stop-shop for all your maintenance requirements. This will allow you to only work with one company instead of having to look for other companies now and then in order to fill in the left out responsibilities. As such, cross check that they offer everything you need, from property cleaning to electrical servicing, plumbing, outdoor work and gardening, building repairs, etc. Close proximity to your property Another factor worth checking into is how close the company is in relation to your property. The closer the company is, the lesser the transport costs you can expect to pay. Also, close proximity assures you of immediate responses in case of emergencies. Thirdly, proximity helps in ensuring that the maintenance company is aware of any locally-sensitive issues that they should pay mind to when doing their work. For example, they likely will know if the area is highly susceptible to termites, waterproofing, concrete cancer, security issues, etc. Liability insurance Last but not least, make sure your prospective maintenance services provider has a proper liability insurance cover. Professional as they may be, things can go wrong, e.g. injury to clients, damage to the property or damage to third party property. With a liability insurance cover in place, such losses can be compensated in time without unnecessary complications. With the above checked and verified, you can enjoy handing your property over to a maintenance company without having to worry about how your asset will be looked...

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Furnished Apartments | 3 Vital Factors Every Potential Tenant Must Know

Posted by on 9:38 am in Uncategorized | Comments Off on Furnished Apartments | 3 Vital Factors Every Potential Tenant Must Know

It’s a well known fact that the real estate rental market tends to favour the landlord over the tenant. But that doesn’t mean that a tenant is without any rights. Landlords of furnished apartments have certain responsibilities like ongoing repair and offering the apartment in a clean state. Before signing a lease agreement with your landlord, be sure to know your own rights and consider these vital factors involved in renting out furnished apartments. Check Furniture Closely… And Point out Blemishes in Writing As a potential tenant on the premises, you have the right to inspect every piece of furniture thoroughly, and you must point out any faults in advance in writing. This way you will avoid any future misunderstandings and complications. For example, a couch with a tear on one side should be written down in your property inspection report, so there are no quarrels after your tenancy agreement ends. Similarly, a broken chair leg should be accounted for in the report. Far too many tenants have paid the price for blemishes that occurred in the home before they even moved in. Being clear about faults in advance will ensure that you get your entire deposit back without any deductions at the end of your lease term. Remember verbal agreements are easily forgotten after a year or more, so be sure to have everything in writing to avoid any complications. Monitor All Appliances to Ensure they are in Working Condition Usually furnished apartments come with everything from a refrigerator and microwave to a washing machine and oven. Keep in mind that the rent you’re paying covers the cost of all these items advertised, so ensure that every appliance in the home is in good working condition before signing on the dotted line. It could be difficult to get the landlord to fix an oven a few weeks after you have moved in because you forgot to inspect it. If you find that any appliances are not in working condition, make sure the landlord gets it fixed or replaces it before you move in. It pays to be an informed tenant, because you certainly don’t want to pay the price of repair when it isn’t your responsibility (yet). Get a Proper Checklist of all Items Provided with the Furnished Apartment Every furnished apartment has a different number of items provided by the landlord, so be sure to get a proper checklist that covers every single item — even if it means listing down small items like the number of utensils and plates. Make sure the landlord covers every item in his unit without leaving out any details. This helps to avoid any confusion in the future and will help secure your deposit refund without any possible deductions. Check out apartments like Adelaide Dresscircle Apartments in your area if you’re interested in moving to a furnished...

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Real Estate Properties | 3 Smart Strategies To Obtain Return Value From Your Home

Posted by on 10:22 am in Uncategorized | Comments Off on Real Estate Properties | 3 Smart Strategies To Obtain Return Value From Your Home

Buying a real estate property is perhaps the shrewdest and most expensive decision you’re ever going to make with the average cost of a dwelling in Australia hovering at $563,100. Landlords should carefully consider their choices to ensure that they get better return value on their homes in the form of rental cash flows or by reducing outgoings. If you’re looking for ways to make your property pay for itself, follow these smart strategies. Rent out a Room If you’re thinking of ways to increase your income stream, why not rent out a room in your real estate property? Renting out an additional room is a creative way to pay your bills without worrying about them eating into your income. You can even use the money to offset the cost of your mortgage or to pay off your credit card debts. No matter what you decide, the added income from renting out a room will help you take care of certain costs faster. For example, you can claim tax deductions for associated expenses from your rental income, such as wear and tear, and interest on home loans. Install Energy Efficient Appliances and Lights Replacing your old appliances and lighting fixtures with modern energy efficient solutions is a smart long-term strategy to make your home pay for itself in the form of reduced energy bills. For example, good quality LED lights can reduce energy consumption by up to 50%, making them a smart and energy efficient lighting choice. Good insulation also helps to lower energy bills, so consider installing curtains or blinds on windows to prevent heat from escaping out during cold months. Similarly, shading prevents heat from entering the house in summer to reduce air conditioning bills. Grow Your Own Vegetables and Fruits Growing your own fruits and vegetables in your backyard is perhaps the smartest way to make your real estate property pay for itself. You’re likely to save hundreds of dollars every month by simply growing the items you use the most at home for cooking. With a little business ingenuity, you may also find a way to sell your locally grown produce to cafes and restaurants or even at a fresh food market. Citrus trees, tomato plants, leafy greens, carrots, green beans and many herbs are easy to care for and make useful additions to your garden. Living in your own real estate property can be an expensive proposition. Luckily, these tips are designed to take the cash burden off your shoulders by enhancing return value from your...

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Why Opt for a Transportable Home Versus One Built Onsite?

Posted by on 6:27 am in Uncategorized | Comments Off on Why Opt for a Transportable Home Versus One Built Onsite?

A transportable home may be built on wheels itself or it may have special design features that allow it to be easily moved with the use of a trailer. Many people are finding that a transportable home offers them options and benefits that are very different than homes built onsite. Note a few of the reasons why you might want to opt for a transportable home versus one built onsite: 1. Temporary housing A transportable home is a good solution for when you need temporary housing or separate housing that is set away from your main home. For example, you might want to have an older parent stay close by so you can monitor their health and safety, but they may not feel comfortable living in your home with you. A transportable home can be set up on your property so that your parent has their living space but is still very close. This can also work for older kids who are away at university; they can have their separate space when they come home for vacations and holidays, but not need to maintain an apartment. Once you no longer have the need for the home, you can easily sell it and have it removed from your property very quickly and easily. 2. Environmentally friendly When you have a home built onsite, you need to dig up the area for the foundation, and once the home is constructed, it puts tremendous weight on the soil. If the home is torn down, it can take years for this environmental “scar” to heal. A transportable home, however, doesn’t need this huge hole for a foundation, and is much lighter so that it doesn’t cause as much damage to the environment once it’s erect. After you move the home, it is often easier to repair and restore the pad or site on which it sat than it would be with a standard home built onsite. Along with its weight, a transportable home is often much smaller than standard homes. In turn, it will typically need less energy to keep it warm or cool throughout the year. Using less energy means less pollution created at power plants. Since they can be moved with you, this too also means less chance of needing to harvest virgin materials to have a new home built once you want to relocate. This makes transportable homes for sale a more environmentally-friendly choice over a home built...

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Property Owners: Five Tips to Follow If Your Tenants Pay the Rent Late

Posted by on 7:44 am in Uncategorized | Comments Off on Property Owners: Five Tips to Follow If Your Tenants Pay the Rent Late

Dealing with tenants who haven’t paid the rent is one of the hardest parts of being a landlord. No one wants to be the melodramatic landlord with the twirling mustache “harassing” tenants for money, but on the other hand, you certainly don’t want to lose money on your investment property. If your tenants aren’t paying the rent on time, here’s what you need to do: 1. Contact your tenant This tip may sound obvious, but it is a step that is often overlooked by landlords who wish to avoid conflict or confrontation. However, if your tenants haven’t paid the rent, you need to contact them. Don’t stop by unannounced – it creates a precedent of disrespect, which may in turn cause your tenants to care even less and pay even later. Instead, call or email and find out what’s going on. If you truly believe the situation is rare and not going to be repeated every month, offer to work with your tenants. 2. Accept a payment plan If your tenant is relatively responsible and takes care of the property, consider working with him or her for a month or so. There are a range of payment arrangements and alternatives you could consider. For example, you could accept half the rent now and half in the middle of the month, or you could allow your tenant to trade some work on the property in exchange for a reduction. 3. Clearly outline (and write down) expectations If you accept a deviation from your standard rent agreement, make sure you clearly explain your expectations to your renter for future months. You don’t want your tenant to assume he or she can pay late every month. 4.Generate a late rent notice If you don’t want to offer your tenant alternatives or a payment plan, be sure to generate a late rent notice. Giving your tenant written notification that the rent is late advises him or her that you are serious, but it also helps to create a paper trail. Ultimately, if you want to evict your tenant, that paper trail could be essential to prove your case. 5. Hire professional help If you don’t want to be knocking at doors or sending notices about late rent, you don’t have to do it on your own. Instead, hire a property management company. These professionals know how to screen tenants carefully to ensure you avoid tenants who are likely to pay the rent late. If you do have a tenant paying late, a property management company can help you generate the right paperwork, deal with any legal issues and find a new tenant if needed. To learn more, contact a company like Calibre Real...

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