Six Tips for Choosing a Property Manager

Around 30 per cent of Australia’s residential dwellings are rental properties. As you accumulate properties in your portfolio, you might find it practical to have someone else manage your properties on your behalf. Unlike, for example, conveyancing fees, property management fees are usually calculated as a percentage of rental income on the property, a pay structure designed to keep property managers motivated. Property owners still need to choose their managers carefully to protect their investments.

Dedicated Property Management Department

Does your property management company have a dedicated property management team? Many property management companies are departments of real estate companies, and these companies may not attach the same importance to the property management arm of the business. Make sure their property management department is robust and fully functional before you sign on with them.
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How to Buy Property Using Home Equity

If you’re a keen property investor, there’s no need to wait a long time between buying property if you have some equity built up in your portfolio. Even home owners can think about getting into property investment if they have paid off a good part of their mortgage. Lots of people choose to leverage their equity to take advantage of property investment opportunities.

How it Works

Typically, a home equity secured loan is a line of credit loan, though lots of lenders provide variations on this type of loan and refer to it as an “equity facility” on your home. You can use these funds in absolutely any way you want – whether it’s to cover the costs of anothe property purchase (e.g., deposit, stamp duty, conveyancing fees), renovate your investment properties, or to invest in shares.
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Four Home Loan Options for Buying Property

There are hundreds of different home loan products available in Australia. Getting a quick overview of different home loan types is helpful before you start looking for a property, getting a conditional loan approval, or thinking about purchasing issues such as conveyancing.

Variable Home Loans – Standard and Basic

Standard variable loans have more features than basic variable loans. Basic variable loans are great if you want to pay a fixed amount over the duration your mortgage, but not suitable if you intend on paying off your home loan as quickly as possible.
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Commercial Property vs Residential Property

Both commercial and residential properties have their advantages and disadvantages. Commercial property tends to necessitate involvement on a larger scale, while entry to residential property investment does not require the same level of investment. Commercial property leases also tend to run for longer than residential property rental agreements. It’s ideal to consult a conveyancing professional if you have any general questions as common practice can differ state to state depending on the applicable legal rules and requirements. The following comparison is generally applicable to most types of commercial and residential properties.
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Five Tips for Buying Interstate Property

Buying interstate property can broaden the pool of properties from which to choose your purchase. Many Australians have successfully expanded their portfolios and planned for a comfortable retirement by incorporating interstate property. Keeping in mind that consulting a conveyancing professional is a good idea if you have any questions, these are the top five tips to keep in mind for investing in property interstate.
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Six Essential Strategies for Choosing Investment Property

Along with shares, property ranks highly as an investment vehicle among people of all ages in Australia. While every property is unique and there are no simple rules that will guarantee high returns, these six key aspects are regularly used by anyone investing in property, from professional property investors to those who are just getting started in property investing.
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Five Essential Tips for Buying into Strata Schemes

Strata schemes are buildings or a lot of buildings where the owners have title over individual parts of the building but also collective own common property. Examples of strata schemes are apartment blocks, units, and townhouses where there are common areas. The key difference in buying into a strata scheme is that every owner will be impacted by the activities of other owners, so there are collective responsibilities and individual obligations.
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Do You Need a Pre-Purchase Property Inspection?

Before you finalise the sales contract and start looking for a conveyancing service, it’s a good idea to obtain a pre-purchase property inspection if you have any doubts about the property you’re going to buy.
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Mortgage Insurance Explained

What’s commonly known as mortgage insurance is probably more accurately known as lenders mortgage insurance. Lenders mortgage insurance is so named because it protects the lender in the event of a default on mortgage payments by a borrower. This is contrary to the popular belief that mortgage insurance covers the borrower and not the lender. If you have any doubts about any of the costs associated with buying property, you should speak to a conveyancing professional.
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Advantages and Disadvantages of Buying Off The Plan

Buying off the plan means you agree to purchase a property before it has been subdivided and built, basing your decision on the plans that the vendor has presented to you. Technically, the property doesn’t exist at the time of formalising the contract and the subdivision may not yet have been approved. Buying off the plan (‘OTP’) comes with a number of advantages. Due to the long term nature of most OTP purchases, it’s advisable to speak with a conveyancing professional before you make a decision.
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