Property Management

NSW Reforms & Property Management Compliance


There are certain components of the upcoming Licensing Reforms (23rd March reminder!) that specifically concern Property Managers and Property Manager compliance. As a quick summary, these points are: Current License holders will transition to Class 2 License holders Certificate of Registration holders will transition to Assistant Agents If you’re currently approving EOM payments, you will not be able to do ... read more >>

NSW Reforms & Property Management Compliance2020-02-18T23:55:09+00:00

The ATO Crackdown on the Holiday Rental Black Market


The End of the Holiday Rental Black Market It is true that holiday rental platforms such as AirBnB, Stayz and the like have transformed the way Australians travel and book holiday accommodation. Additionally, they have also opened up additional revenue streams for the average Australian by renting out their homes or rooms for additional income. In essence, the scheme is ... read more >>

The ATO Crackdown on the Holiday Rental Black Market2019-12-10T05:16:10+00:00

Tenant Dishonoured Rent Payments ~ Best Practice Tips


What is a dishonoured rent payment? A dishonoured rent payment occurs when a rental payment made by the tenant bounces in the trust account. As a result, it is shown on the debit column of the bank statement. So when this happens, what do you do? We detail the best practice solution you can implement when a dishonoured tenant rent ... read more >>

Tenant Dishonoured Rent Payments ~ Best Practice Tips2019-10-10T02:39:21+00:00

How to Keep your Real Estate Agency Start-up Costs Down


Let's be honest, starting out a small business is never easy. Keeping one afloat can be even more difficult. There are approximately 2.1 million small businesses operating within Australia. Of those, 54, 992 business went bust in the 2018 financial year, a 12.7% increase from the year before. On average, 60% of Aussie small business close their doors in the ... read more >>

How to Keep your Real Estate Agency Start-up Costs Down2019-09-21T06:45:33+00:00

Can Sales and Property Management Departments Work in Harmony?


Unfortunately, Sales and Property Management often work as though that are polar opposites. Magnets resisting the push and pull of one another. It is sad that this is the case in many agencies across Australia. In my time within Property Management, the tension was so thick you could often cut it with a knife. And a good chef's knife at ... read more >>

Can Sales and Property Management Departments Work in Harmony?2019-03-28T06:24:44+00:00

Creating Harmony Between Bookkeeping & Property Management


Trust Accounting and Bookkeeping are very different entities. Yet despite being in different worlds, it is important that bookkeeping and trust accounting operate in succinct harmony. Some agencies may have one staff member managing the trust account and reconciling the general account. This is completely acceptable. Other agencies may keep the roles completely separate. Also acceptable. What is important is ... read more >>

Creating Harmony Between Bookkeeping & Property Management2019-03-28T06:24:44+00:00

Rent Roll Purchase Tips to Avoid Buying a Lemon


The Appeal of Rent Rolls There’s no doubt rent rolls are hot property in Sydney at the moment. The Inner West and North Shore areas are leading the charge as favourites where we have heard reports of agents paying in excess of $4.50. Rent rolls are a stable source of income if managed correctly. They are highly sought after by ... read more >>

Rent Roll Purchase Tips to Avoid Buying a Lemon2019-03-28T06:24:45+00:00

How to Maintain Good Tenant Retention Rates


Finding a good tenant is one thing. Tenant retention is another! Many would argue – "why should I care about the tenant?" Well, the truth is pretty simple. Tenants own properties too! They can, or may already be, landlords, purchasers and have a connection of friends and family with rental properties of their own. So in short, yes you should ... read more >>

How to Maintain Good Tenant Retention Rates2019-03-28T06:24:47+00:00

First Class Trust Management for Landlords


With the ups and downs naturally associated with the real estate sales market, it is important to take care of your rental roll clients. Your rental roll clients are the ones that will (hopefully) be there through the thick and thin of the sales cycles. When sales times are low, the rental roll keeps clicking along. Just the same, when ... read more >>

First Class Trust Management for Landlords2019-03-28T06:24:47+00:00

When Landlords Change Bank Details


How to Ensure Your Money is going to the Right Place Landlords changing bank details is a common occurrence in property management. When the correct systems and protocols are in place to advise tenants of the new details and timings, things can usually go without a hitch. Unfortunately, criminals are on the lookout for any new ways to make a ... read more >>

When Landlords Change Bank Details2019-03-28T06:24:51+00:00