The Benefits of Professional Photography

Source: An article by Josie Hodgson

It is common in the market place to see property managers being a jack of all trades. They are accountants, interior designers, marketing experts, problem solvers, counsellors, property stylists to name but a few. Now we are expecting that they become professional photographers as well. Why?  

Is it because most property management departments believe that their Landlord will not pay for professional photography?   Whilst this may be the case in a few instances if the owner is educated correctly and shown the benefits they almost always agree to pay for marketing photographs, they just have to see the benefits.

When a landlord asks “Why do I need professional photography for a rental property?”

Tell them why…

A recent survey showed that more than 80% of people search for their new home on the internet.

So with the majority of people searching online for their new home, if your property does not look impressive, tenants are just not going to bother to inspect it.

The way a property presents is an important factor, if not the most important factor in generating interest. As the old saying goes “a first impression is a lasting impression, whether good or bad”.

When photography is left to property managers who in most cases have the use of an expensive camera with all the bells and whistles. It sounds fantastic and easy all you have to do is point and shoot and we expect the camera to do the rest. Whilst in some situations the photographs are acceptable in most, they are not.

This is not always the fault of the property manager as they are not trained in this field. Would you recommend a friend photograph a wedding or a professional photographer? Whilst leasing a property the images are not a lifetime memory they are usually the first impression a prospective tenant has of the property and they will decide in only a few short minutes if they will inspect the property or not.

The photos below show the same property – the property manager has taken the first photograph and a professional photographer has taken the second.

Unedited photograph

Edited photograph

Professional photographers bring out the best in a property. Proper lighting techniques, clever angles, composition and some tricks of the trade that only professional real estate photographers have ensures that the property looks its absolute best. Not to mention it is a tax deduction as well.

It is no secret that properties that are well presented have more enquiries, more inspections, fewer days on market and in some cases achieve a HIGHER RENT.

Property Observer recently reported that less-than-ideal photographs could be a contributing factor for properties that have not been tenanted for a while. Still not convinced? Take a look at www.terriblerealestateagentphotos.com.

At Toop&Toop we have two professional, full-time photographers who are available to photograph your investment property.

Buying appliances for your rental property

Making the right decision to maximise your investment returns

Replacing appliances in a rental property is often a huge headache for owners, but it’s all part of your investment business. Making sure you make a decision that is right from an investment perspective is more important than your personal preference.

You need to balance quality, durability and price to provide your current residents and future renters the equipment to ensure they have working appliances.

Practicality and cost effectiveness is the key

Tenants don’t expect all the extras, but they do want a product that works consistently effectively and economically as they are paying the utility bills.

The more features an appliance offers means more things that can go wrong with that appliance. If your property is at the higher end then there is an expectation that a premium brand appliance will be used, but for most rentals go for practical and durable.

It doesn’t mean going for the cheapest however, you need to consider the warranty, availability of parts, costs to service the machine and access to contractors who fix those specific brand of appliances.

Save on energy
Looking at energy efficiency has obviously become a priority. Tenants are concerned like home owners of skyrocketing utility bills. The manufacturers are taking this into consideration and including energy star ratings on their products.

Go to http://reg.energyrating.gov.au/comparator/product_types/ to check out recommended brands.

Consider different model styles

Consider the more economical replacement types for refrigerators, dishwashers, ovens or washers/dryers. Buying an older-styled or refurbished model might save you hundreds of dollars, without sacrificing on quality. These savings can especially be found for refrigerators, where top-freezer models sell for hundreds of dollars less than the more stylish and larger side-by-side or bottom-freezer models.

Get the best price

There are a number of ways to find great prices on appliances. Start with an online search for the base price of a particular model. Pricegrabber.com and Google’s product search are two smart places to check. Once you have a sense of the going price range for a certain appliance, you can begin shopping in earnest.

Look for reduced-price floor models or scratch and dent savings or run out models.

Be proactive

Replacing appliances is a necessary part of being a landlord or property manager. Shopping around early rather than waiting for the call from the tenant to say the appliance is not working will save you time and money.

There is a limited time to get a fix for a tenant, so you want to make sure you are making an informed decision and not one on the run.

At Toop&Toop we have a list of preferred models that fit the criteria and suppliers who can install and service at our fingertips.

Market Wrap Up - June Quarter 2013

In South Australia, the median weekly rent of $325 remained steady since the beginning of the year. The average turn round time on properties for the industry is 27 days. Toop&Toop’s vacancy rates have been sitting around 14-20 days well under the average.

Consumers demand A Better Industry

Consumers are becoming increasingly savvy about their rights and demanding in terms of their expectation on service levels.

Specialist knowledge of local areas and a depth of understanding of maintenance issues is the necessary to meet consumer needs.

Residential Tenancy Legislation Changes

The burden on owners and agencies has increased with the new legislation. New laws around hanging abandoned goods, the decreased time frames for inspections and increased privacy requirements.

One bonus is that documentation regarding a tenancy can now be emailed rather than snail mailed which will save time and prevents claims of documentation not being received.

As a private landlord it is becoming a logistical minefield adhering to these new laws and the requirement for all documentation to be submitted and processed on time.

Delays in actioning maintenance

Tenants believe that their repairs and maintenance issues are not being addressed in a timely manner once reported.

Over 47 per cent on a national survey responded that they experienced significant delays in their requests being actioned.  From an agents perspective there is always a question of balancing between what is classified as landlord or tenant responsibility.

It also depends on the rent and the age and condition of the property when it was tenanted. A $210 per week property is not going to be in the same condition as a $410 per week property. 

There is however the safety issues for example  any electrical repairs or what is considered an emergency such as blocked drains or flooding.

An agent is able to act as the broker and with their experience can successfully navigate between both parties rather then have the tenant and landlord at opposing ends in terms of view point of who should do and pay for what.

It is important that all maintenance is followed up and addressed even if it is to inform the tenant that they are responsible.

With tighter budgets landlords have become less willing to approve repairs as economic times have put a squeeze on their returns. The influx of sales properties has also meant the rents have remained the same and in some case declined. This has allowed tenants to be fussier and take preference over homes that are in a better condition or have upgraded facilities.

Checking tenants information

On 1 November 2010 the Office of the Privacy Commissioner was integrated into the Office of the Australian Information Commissioner and a new website established at www.oaic.gov.au.

Major changes to the Privacy Act 1988 will into effect in March 2014. Agencies, businesses and not for profits need to start preparing for these changes.

Many tenants ask the question - A real estate agent* has listed me on a residential tenancy database. Can I access the information the residential tenancy database holds about me?
The answer is yes, but there are conditions on it and some are only accessible by agents and or have a licence fee attached.

All residential tenancy database operators are covered by the Privacy Act. But, sometimes they do not have to give you access.
Giving access may mean allowing you to inspect your record or giving you a copy of it. You may also be charged a fee for access. A fee should not be excessive and you should not be charged simply for making a request for access.

Some of the major residential tenancy database operators in Australia are:
TICA (Tenancy Industry database) http://www.tica.com.au/
National Tenancy Database http://www.ntd.net.au/
EAC Multilist http://www.eac.com.au/
Trading Reference Australia https://tradingreference.com/
RP Data http://www.rpdata.com/

Other sources such as Google, Face Book, Linked in will depend on whether there are privacy settings on their website but you would be in dangerous territory publishing anything defamatory.

The golden rule is to check and check again.

Townhouse - cosmopolitan lifestyle

Live the cosmopolitan lifestyle with this surprisingly well sized secret nestled off of King William Road. Walk to local shops, restaurants and cafes and come back to your sanctuary so quiet that you'd have no idea the bustling road is just 100m away.

With a spacious living area downstairs that leads out to a generous court yard, imagine eating breakfast in the patio on a Sunday morning, basking in the morning sun. Kitchen is roomy, looking out to the courtyard, with lots of laminated bench top space. Behind the kitchen is a hidden laundry, well spaced again, with a convenient downstairs toilet.

Head upstairs and find three comfortably sized bedrooms. Main bedroom features a walk in robe, ensuite and balcony. The other two bedrooms feature built in wardrobes and the upstairs bathroom is well designed to even fit a bath, ideal to soak in after a day of shopping along King William Road.

Perfect for the investor, first home buyer or those that want to live a low maintenance lifestyle, this townhouse is perfect living in a perfect location.

Features:

• Intercom security to gate
• Under stair storage/cellar
• Secure parking
• Ducted r/c air-conditioning
• RLA 2048

Checking tenants' information

On 1 November 2010, the Office of the Privacy Commissioner was integrated into the Office of the Australian Information Commissioner and a new website established at www.oaic.gov.au.

Major changes to the Privacy Act 1988 will into effect in March 2014. Agencies, businesses and not-for-profits need to start preparing for these changes.

Many tenants ask the question - "A real estate agent has listed me on a residential tenancy database. Can I access the information the residential tenancy database holds about me?"

The answer is yes, but there are conditions on it and some are only accessible by agents and/or have a licence fee attached.

All residential tenancy database operators are covered by the Privacy Act. But, sometimes they do not have to give you access.

Giving access may mean allowing you to inspect your record or giving you a copy of it. You may also be charged a fee for access. A fee should not be excessive and you should not be charged simply for making a request for access. 

Some of the major residential tenancy database operators in Australia are:

• TICA (Tenancy Industry database) http://www.tica.com.au/
• National Tenancy Database http://www.ntd.net.au/
• EAC Multilist http://www.eac.com.au/
• Trading Reference Australia https://tradingreference.com/
• RP Data http://www.rpdata.com/

Other sources such as Google, Facebook, LinkedIn will depend on whether there are privacy settings on their website but you would be in dangerous territory publishing anything defamatory.

The golden rule is to check, and then check again.

Looking for that perfect investment property? Take a look at these two beauties!

Neat Investment for only $240,000!

7/61 Milner Road, Richmond
Recently updated and renovated, this fabulous upstairs unit serves perfectly for an active yet easy lifestyle. Featuring floating timber floors through the living zones and a brand new kitchen. Earthy tones throughout including feature walls in the bedrooms and living. The large master bedroom boasts a full wall of built in robes.

Two balconies and a new RC AC keep those summer days cool and the winter nights warm. Dedicated off street car park.

Great location near the CBD and easy access to Hilton Plaza.

Price: $240,000

Contact: Tim Thredgold - 0418 817 407
Webpage: www.7-61milner.toop.com.au 


First home owners - take note!

3/429 Glynburn Road, Leabrook

A solid cream brick home in the popular Eastern suburbs, this two bedroom home is the perfect first home or investment.

Neatly tucked behind a high fence, the home has two bedooms, one under cover carpark, a seperate laundry, good sized kitchen and dining, a generous living room and a quaint rear garden.

Add this great home to your investment portfolio, or for the first home owner, move in and enjoy the great location close to shops, quality schools and minutes from the CBD.

Price: $319,000
Contact: Tim Thredgold - 0418 817 407
Webpage: www.3-429glynburn.toop.com.au