Hype Realty Monthly Newsletter
What a crazy, can you believe it is really happening, kind of month we have had. Have you felt the same?
With Melbourne under Stage 4 lockdown restrictions and the rest of Victoria not much better, the other States are all carefully watching how things are playing out “down South”. Who could have imagined that in Australia where we often take our safety and security for granted, an 8pm curfew would be enforced on part of our population or that we are all talking about border closures? It all feels very surreal.
Those families who have sadly lost family members during this time, and not just due to COVID-19, our thoughts are with you. How we can say goodbye to loved ones is yet another example of how our lives have been disrupted by this dreadful virus. Watching a funeral on a live stream is now not just something offered to those relatives who could not get back in time for the actual service, it is often the only way someone can “attend”.
The interesting thing is, that we (and the rest of the world) have adjusted. It isn’t always easy, but somehow, we manage to come up with alternative ways of doing things so that we can keep moving forward.
Gotta love that about us humans!
The Leasing Market
How lucky are we? With some parts of Australia really struggling with long vacancy periods andrent reductions of close to 20%, we are fortunate to be enjoying such a buoyant rental market.
With a shortage of properties available, our current tenants are very keen to ensure their lease is secure and we are not having to chase too many people to return their completed renewal agreements – always a sign of a tight market.
We currently have a minimal supply of vacant properties, which is a good thing……. but it would be great to have available properties to show prospective tenants. If you know of anyone with a vacant property (or properties) who would like help finding the right tenants – we’d love to speak with them!
Nothing screams “rental property” more than small shrubs growing out of the gutters on a roof and apart from looking untidy, clogged gutters can quickly cause a lot of damage to a property.
Clogged gutters rust out more quickly and cause rainwater to go where it is not supposed to, which in turn, can stain external paintwork, wash away gardens, and even cause leaks internally.
Usually, this type of maintenance is the responsibility of the property owner. Our general rule of thumb is whenever a ladder is required to maintain the property, the task falls back to the owner. There is simply too much of a risk when a tenant climbs a ladder and the liability will rest with the owner if an accident occurs.
Of course, if the gutters are clogged by tennis balls or frisbees because the tenant’s kids have managed to throw them on the roof, this then becomes their responsibility. We are referring to property maintenance only.
Our recommendation is that the gutters are checked and professionally cleaned at least once per year, rather than waiting until a problem occurs. Being proactive can really save you some dollars. Also, if your property is surrounded by trees and their leaves are the cause of a problem on a regular basis, the installation of “gutter guard” might be worth investing in.
If you would like us to organise a quote on your behalf, please reach out.
Will Temporary Covid-19
Legislation Stick Around?
We certainly hope not, but ……
Victoria and Canberra have already extended the moratorium on evictions and their temporary laws introduced in response to the Coronavirus Crisis. The rest of Australia is still looking at the end of September for legislation to revert back to “normal” at this stage. But, given the rise in the number of new cases being reported, border closures and the recent unemployment numbers, we will not be surprised if at least a few other States follow suit.
Just another example of the uncertainty we are all facing. Is it wrong that we miss being able to issue Notices to Increase Rent?
The Latest at Hype!
Our friends (and office neighbours) at Fully Promoted in Nerang, were unfortunately broken into. It was a Saturday morning at 9.30am. The lady (who has now been arrested), broke in, made herself a couple of Sao and vegemite crackers. She then proceeded to change the clothes on a few of the mannequins they had in the shop, changed her own shoes into a pair of their work boots, throw chairs and computers around the shop and then lit a fire! Who would’ve thought that in broad day light on a Saturday morning, craziness like this can happen! Our take away has been that you never know what could happen (um – hello 2020). Take the opportunity to double check your insurance policies are up to date and have the correct coverage. Remember to shop around – there are some competitive deals around at the moment!
That’s a wrap from us at Hype Realty. Until next month, please stay safe and we will see you