Is your property Nest Egg A good egg?
Enhancing your property’s value: Factors to Consider for Maximum Return
Your own home or property earns the distinction of being a sound investment when it harmonises with your financial aspirations, risk tolerance, and overarching investment strategy.
Your property may just be a sleeping beauty! Let us help you awaken it’s potential
The assessment of considerations such as renovations, improvements and additions to the property should be factored into the equation. Opportunities are everywhere, you just have to know where to look.
If you are interested in an evaluation of your property’s status and would like to know how you could get even more out of your nest egg, reach out to our Investment Services team for a comprehensive Property Health Check, and let them show you the bigger picture.
client testimonial
“Leah Jay’s Investment Services Team provided me with expert advice about the type of investment property that would best suit my needs. Pippa gave me so much information and feedback on the different options I had, and even gave valuable insight into the suburbs I should consider.
Her recommendations involving lawyers, building inspectors and insurance brokers was such a help! I’d have been lost without the professional and responsive way she guided me with my purchase, and then again with the renovations. I’m really looking forward to Leah Jay managing my first investment property!”
– Grace. B
INVESTMENT PROPERTIES:
IMPRESSIVE RENTAL YIELD
Another Leah Jay service is aimed at assisting individuals seeking to purchase an investment property. Many of these are Mum and Dad investors who have paid off their mortgages and view property investment as a logical next step. Others prefer to prioritise real estate over a portfolio of shares, while others are motivated by diversification.
Effective property investment demands meticulous analysis,
strategic planning, and a focus on long-term outcomes.
Our dedicated Investment Services team will collaborate to ensure you have informed financial calculations that optimise your returns. The team provides guidance and support throughout your entire investment journey by connecting you with specialists in various domains, including Financial Advisors, Independent Mortgage Advisors, Buyer’s Agents (if relevant), and conveyancers.
During a strategy session, we delve into the underlying reasons ‘Why’ you have decided to invest. This will include the preferred locations with growth potential, different property types, expectations you have as an investor, projected rental income, operational costs, tenant suitability, and potential considerations such as renovations or development opportunities.
CASE STUDY:
Recently, one of our clients expressed interest in a property with development potential. In response, we discussed looking for properties with spacious plots for expansion or the option to construct an additional dwelling. An opportunity emerged involving an existing property with a recently built Granny Flat, although the main house presented challenges necessitating improvements.
The clients proceeded with the purchase, achieving an impressive initial Rental Yield of 5%.
Leah Jay took over the management of the properties, while the investment services team guided the owners with various enhancements to the existing property, including rent adjustments for both properties. The yield on the property and Granny Flat has since risen to 6%.
You have the idea but don’t know if you have the finances to follow through?
Leah Jay has partnered with Castle finance to give you access to an online calculator, giving you an immediate estimate of your borrowing power.
FAQ's
Answers to the crucial questions asked by investment property owners.
General
Leasing Your Property
We can work with you to maximise your investment and ongoing yield through targeted improvements to your property. This can be done with regular maintenance, freshening up the property and maximising the presentation through painting, pruning of trees etc.
The underlying aim is to help maximise the benefit from your investment right through the investment lifecycle, from acquisition to divesting.
Our Investment Services team can assist you with guidance about the local rental market, what is in demand and what rent can be achieved.
A lot of real estate agents add ‘property management’ onto their standard buying and selling of homes. Often these companies will charge lower fees because their core focus is on the income they make from sales commissions. We focus 100% on property management, have managed properties for over 27 years and have a strong team, which together give you the service you deserve.
We strongly recommend that you have landlord insurance in addition to building insurance. This covers you for tenant-related risks, including loss of rental income and loss or damage to your contents and building by the tenant.
Routine inspections of the property are carried out eight weeks after the tenancy has commenced and then every six months thereafter. Owners receive a copy of all reports and your property manager will communicate any concerns they may have with you. We encourage owners to view their property at least once a year – this should be arranged with your property manager.
Approximately 63% of Australian households own pets. The majority of pet owners are responsible and ensure no damage is caused to the property or grounds. It’s certainly worth considering when you are looking for a good tenant that you consider tenants with pets.
Here’s some more information about pets in rental properties.
The owner is responsible for the supply and installation of Australian Standard approved smoke alarms, ensuring there is the correct number in the right location in accordance with Regulations. If preferred, Leah Jay can arrange a professional inspection by a smoke alarm provider for an annual fee.
If your property has a swimming pool or spa then a copy of a valid Certificate of Compliance issued in the past three years is required. This must be done prior to any lease or renewal being signed; without this your property cannot be leased.
For more information about swimming pools in rental properties, take a look at our article: Is Your Pool Compliant?
Your property manager can arrange all maintenance and repairs to be carried out on your behalf should you prefer. General repairs and maintenance are included in our management fee. However, there is a fee applicable for insurance claims and larger projects.
Due to the recent COVID-19 legislation introduction the notice period to terminate a tenancy agreement has changed when providing notice to a tenant. You are now required to provide 90 days’ written notice when in a fixed term agreement. The notice may be given at any time up until the fixed term expires but this cannot take effect until the agreement term ends. You as the owner must give 90 days’ notice and the tenant must give you 14 days’ notice.
If the lease agreement has expired, it may be ended by the landlord or the tenant by giving written notice of termination. The notice may be given at any time. The owner is required to give 90 days’ written notice and the tenant must give you 21 days’ notice.
If the property has sold and the lease agreement has expired, the owner may terminate the agreement by giving 30 days’ written notice, on the exchange of contracts for sale. The tenant is not required to give counter-notice during this time if on an expired lease.
If you decide to sell your investment property, talk with our Investment Services team about the process. We have preferred real estate agents who share our values that we can put you in touch with.
If the property has sold and the lease agreement has expired, the owner may terminate the agreement by giving 30 days’ written notice, on the exchange of contracts for sale. The tenant is not required to give counter-notice during this time if on an expired lease.
We process funds on the 10th and 25th of each month. If these dates fall on a weekend or public holiday we will process the business day beforehand.
It’s vital to have high-quality photos. Yes, you or your property manager can probably take passable shots yourself – but ‘passable’ shouldn’t be what you’re aiming for! There’s a noticeable difference between a photo taken on a phone or amateur camera, and one taken by a professional photographer with top equipment.
Professional photos can help you highlight the best features of your property and make them the focus of your listing. A photographer knows exactly how to frame and present photos to show a property in its best possible light (both literally and figuratively).
KNOW A GOOD OPPORTUNITY WHEN YOU SEE ONE
Property investment involves more than just owning a property. It means pursuing particular goals while foreseeing the potential for an increase in value over the duration of your ownership.
