Oct 022017
 
Airbnb Welcome Guide

With almost a decade in the market, Airbnb has helped thousands of homeowners make extra cash in billions by renting out spare real state or space. The site has grown tremendously in Australia with more than 40,000 listing in this country. Do you know that it’s extremely very easy to start making money with Airbnb? Well, all you need is a spare space to list your home on the site. What tricks are people using to make money via this platform? 

Airbnb Home Rental Tips

If you are getting started, here’s an airbnb tip guide to getting your home Airbnb ready…

Keep a Competitive Price

Airbnb Rental PriceLike in any other business, pricing is paramount in this business. One of the reasons why Airbnb has grown tremendously worldwide is due to its competitive prices for the accommodation. It’s much cheaper compared to hotels, and thus you need to decide your pricing carefully. The price should be in tandem with the facilities and services that you are offering. It’s advisable to invite a professional to help calculate the best prices cutting the potential renters a good deal will see you receive often.

Anticipate Guest Questions

Communication is crucial. Be very clear particularly with answering guest’s questions. The best way to go about it is anticipating questions. Competition is fierce on Airbnb, and thus you need to be clear so that guests can have confidence in you. Have everything starting from amenities, decorating style, transport system convenience, and other answers to potential questions at your finger-tips. Sometimes brochures and maps can do the trick.

Guest Guidebook

Airbnb Welcome GuideThis is something that can make a huge difference in your new venture. After the guest has come to your place, they will need some time to get used to the house. It can be annoying if they have to call you anytime they need anything. That is why creating a guest guidebook is important to help them adapt quickly with contacting you now and then. The guide should contain information such as Wi-Fi password, how to use the remote control and other appliance, and the meter box location amongst other things.

Stock Provision

The main trick of making good money on Airbnb is going beyond what’s deemed standard. Imagine providing your guest with provisions? Everyone loves food, and thus the guest will feel great if they find the fridge loaded with foodstuff. Provide them with condiments, coffee and tea, eggs, Milk, cereals and bread enough to take them a day or two to enable them to settle comfortably.

Reference:
https://www.forbes.com/sites/alexandratalty/2014/02/18/seven-tips-to-make-bank-on-airbnb/#eb79ca83fbaa
https://www.domain.com.au/advice/how-to-prepare-your-home-for-airbnb-20150805-girulu/
https://www.mnn.com/money/personal-finance/stories/ways-get-your-space-airbnb-ready

Oct 282014
 

Deciding to manage your own investment property is a big decision and many DIY landlords don’t always understand the complexities involved. Many investors see it as an easy way to save a buck and cannot justify enlisting a property manager. Brisbane property management is also a highly competitive industry, and finding a reliable property manager can be difficult. However, especially if this is their first time renting a property, landlords quickly realise there is more to being a rental manager than just collecting rent!

DIY Property Management Problems

5 Problems Faced by DIY Landlords

Legal:

As with so many industries nowadays the biggest issue facing landlords is the legal implications. QCAT (Queensland Civil & Administrative Tribunal) can be a nightmare for first time landlords. Keeping regular records detailing your property’s condition pre, during, and post rental is essential. If you’re going to be a DIY rental manager, you will need a solid knowledge of the tenancy legislation for Queensland (or your particular state), along with all the required paperwork. No one wants to go to court, it’s a waste of time and is very expensive. Common issues that may need to be address legally are fail to maintain your property, failure to pay rent, and having pets without approval just to name a few. Mismanagement in these situations could cost you from a legal standpoint.

Tenants:

Screening possible occupants is extremely difficult for DIY property managers. Property management companies have access to professional databases which give them a plethora of information including the applicant’s previous rental history, credit checks, employment checks and much more. This is all very time consuming and hard to achieve for the average property investor. Unfortunately, some tenants are serial offenders who aim to take advantage of landlords. These types of uncontrollable tenants know the laws which can often make it quite difficult to deal with. Professional property managers are trained in these areas and can help to avoid these problems from arising through proper screening and management.

Inspections:

The laws for each state highlight the procedures for conducting inspections and how much notice is required. Failing to meet these requirements leaves you liable legally and can attract costly penalties. There are obligations for landlords to inspect properties to carry out pest control, smoke alarm checks, and other safety checks. Organising these with tenants can be difficult. Landlords must also adhere to the appropriate authoritative bodies such as the RTA (rental tenancies authority). If this is something you have not done before it can be quite overwhelming.

Costs:

Not only is property management a time intensive job. There are a lot of associated costs that go along with it. For most landlords, they are trying to do their day job while managing their investment property. It’s simple, you wouldn’t do a plumbers job because it would take you a week to change a washer. Same thinking applies to rental management- employ a professional and get a professional result.

Protecting your investment:

Chasing up late rent can be extremely frustrating and can quickly become a financial burden. Can you afford to be locked out of your own home because you cannot evict dodgy tenants? These emotionally charged situations can become quite dangerous for landlords and can often result in damages to your property. With a professional property management team, these sorts of problems are much less likely to occur, and keeps you, your property, and your income safe.

Jun 232014
 

Having as much knowledge about the state of a property you are interested in buying before you make a purchase helps to dodge any issues that may only surface after a few years wear and tear.

Obviously, having a qualified building and pest inspector look over the house is the best option, but you may be able to save yourself a massive amount of time, hassle and heartache by looking for these issues on your first inspection. The project marketing team at Ray White project marketing Queensland have provided us with these tips.

  1. Cracks- interior and exterior

This is a big one. Any cracks on the interior or exterior walls indicates that there may be issues with the foundation of the building. If the cracks are visible in more than one area of the house or if they’re wider than 2cm-2.5cm, a building inspection is a must. Foundation problems are extremely costly and time consuming to fix so keep an eye out.

cracked floor real estate

  1. Mould

Mouldy walls and ceilings are a health hazard that should be attended to by professional cleaners. Often a mouldy smell is the only indicator that there may be a problem, also look for grey clouds on the interior walls as this may be a sign of recent cleaning. Visible mould growth could be an indicator of a much larger mouldy area in between the walls or under the floor. It also raises the question as to where the moisture is coming from in the first place. Are there visible water stains or signs of leaks? Unless you want to investigate it might be wise to move on.

  1. Asbestos

Asbestos use in Australia was prolific up until the 1980’s. Chances are if the house was constructed before then it will contain some form of asbestos. This is more important to those looking to renovate as it can be quite expensive to remove asbestos from your property. It can be difficult to identify just by looking at it so if you are thinking of making an offer, make sure you’re building inspector tests for it.

  1. Termites and other Pests

Every real estate purchase in Queensland is subject to a pest inspection. This will identify problems such as termites, cockroaches, spiders, bird and paper lice, fleas, ants and so on. On your first property inspection, Jim from Pesky Possum, our pest control and possum removal expert suggests looking in the roof. Keep an eye out for animal droppings and nests, as well as chewed wires and scratched timber.

  1. Saggy Ceilings

If the ceilings are more bowed than a cowboy’s legs after a ride across the wild west then it may be a sign to look elsewhere. All the joins should sit flush and straight. Take a level with you if you are in doubt or even simply looking at the reflection of the light may be enough to spot a sag in your roof.

  1. Water Damage

We touched on this in the mould section as they usually go hand in hand. Look for water stains or discolouring on walls, ceilings and floors. Peeling and cracking of paint can also be a sign of water damage, as is the above point. Check under the sinks in the laundry, bathrooms, and kitchen as well as around the toilets as water damage tends to originate here. In Queensland, property marketers don’t have to indicate storm damage although a record of flooded areas is available from the council.

  1. Gutters and Downpipes

Most gutters are originals from when the house was built, so chances are they are quite old and rusty. Get a ladder and have a look from the top side to see if any replacements are needed. Walking around the outside of the property will reveal whether all the storm water pipes are configured correctly and not just running into the backyard. Any signs of previous flooding could prove costly to fix and installing stormwater run offs on an old property can be expensive so a test with a hose might be a good idea.

  1. Don’t get caught up on superficial beauty

Go beyond judging the tacky interior that the previous 80 year old couple has loved since they moved in before you were born. Superficial changes are the easiest to make and the cheapest to fix (in most cases), so don’t let your feelings of how much you love or hate an interior sway your decision.

This isn’t the be all and end all list of things to check for when buying real estate, but if you keep an eye out for these major issues, you’ll be well on your way to securing your dream home minus the hassle.