I’m old enough to remember a time when real estate agents did not use mobile phones, when our desks did not include a computer and when our customers used to visit our office to inquire about properties.

Today, it seems, technology has removed many of the human touches agents of my generation remember. But it seems most people like the changes created by the internet.

For example, almost all tenants these days search for available rental properties on the internet – they no longer look in the local paper and very few come in to our office to make an inquiry. At our offices they can find a property on the internet, book an inspection online to view the property at a time to suit them and have the whole thing confirmed by email and by text message in less than a minute. How’s that for service!

And buyers are quickly catching up. Most buyers like the convenience of searching for properties online when they come home from work. These days most property listings include more than a few photographs. Some properties (ours, at least) include a video showing each of the rooms and the backyard. With so much available at the click of a button buyers can “see” homes from the comfort of their lounge room without having to visit an agent.

And our use of real estate websites is increasing every day. According to Alexa.com, the internet information site, Australia’s most visited website is google.com.au. The most visited property site is realestate.com.au (No. 24) followed by domain.com.au (No. 43) each with thousands of visitors every day.

So, with internet usage increasing, especially when it comes to real estate sites, most property consumers will welcome the advent of the National Broadband Network (NBN) which will provide much faster search speeds and better access to a growing amount of property related information. It has not yet arrived in my area, but I cannot wait.

As buyers, many of us don’t bother looking at properties which do not have the features we are looking for. Most people would be surprised at the very thought, however, there are times where it may be worth your time.

The number of properties a prospective buyer needs to inspect before making a decision varies from person to person. Most people need to look at quite a few before they are ready to take the plunge.

But what do you do when there is very little for sale and almost nothing that matches your criteria? It can take a long time to look at enough properties to feel you have the market worked out. And what happens if you find something you actually like but you don’t feel ‘ready’?

This dilemma often happens when there are lots of buyers and very few properties on the market. Often called a sellers’ market – as it tends to favour sellers and disadvantage buyers – it is frustrating for buyers who just want to find something they like in a reasonable time frame – and often before the prices go up.

This is where it can be useful to inspect even properties that don’t appear suitable. After all, they can still help you to get to know the market and what prices properties are actually achieving and you are likely to be knowledgeable enough to buy sooner – with the potential to save money as well as time if the market is rising.

The grass doesn’t have to be greener on the other side – giving your front yard a make over will create a welcoming and pleasant first impression for buyers and potential tenants. To create a healthier and greener lawn, simply follow these steps:

1) Raise the Blade – Set your mower blade to about 6-7 centimeters. This is generally quite long – longer grass means deeper roots. Having your mower blade set too low can also cause your lawn to experience shock and stun growth.

2) Mulch then Mulch Some More – Mulching can be super easy! Simply collect the clippings from your cut grass and spread across your lawn. Short clippings help feed your lawn as they decompose. You’ll reduce waste and ensure a thicker and greener yard. Mulching also helps plants retain moisture, so less watering is required saving you more dollars.

3) Water Less Frequently– It’s a common misconception that a lawn should be mowed daily. Water only once or twice a week. This forces grass roots to grow deeper allowing them to find water naturally – handy in times of water shortages. Approximately two to four centimeters of water once a week is plenty for most types of grass

4) Aerate Your Soil – Drilling lots of little holes all over your yard allows oxygen to penetrate the ground and gives your grass better access to water and nutrients. You can find aerating machines at your local hardware store or you can use strap on metal shoes with spikes to get the job done. Aerating your soil can make a huge difference and is often the most important step, especially if your lawn gets foot traffic which compacts the soil and strangles the roots.

5) Fertilize Carefully – You should consult your local garden centre about fertilizing your lawn as different species of grass have many different needs. If you can, try to invest in a fertilizer which has a slow release component which will feed your lavish lawn slowly over time.

These simple yet effective tips will ensure visitors are greeted with a luscious and beautiful green lawn – remember, first impressions do count! For more handy tips feel free to contact our office and speak to a salesperson – they’d love to hear from you!

Many of the ways people go about putting value into their homes results in unrealistic expectations of the final selling price. For example, some sellers decide to set a price for their home based on what they need to purchase the home they want. This is not the best way to price a home and can in fact deter potential buyers.

The best way vendors can determine their likely selling price is to do their homework on local sales of similar properties – with emphasis on the word ‘similar’ because some vendors just can’t help over – valuing their properties by looking at their own asset with rose-coloured spectacles (is the fourth bedroom really a bedroom or would it be better classed as an office?).

Agents often hear purchasers on inspections joke about the ‘harbour glimpses’ or the ‘double garage’ or the ‘level block’ or ‘walking distance to the shops’. If a property’s features are over-stated in the advertising materials, disappointed purchasers often point the finger at the ad writers or real estate agents when in fact the ‘puff’ is vendor-driven as unrealistic vendors push for prices that only someone with the bias of ownership could come up with. Conversely, purchasers visiting their umpteenth open for inspection rarely come equipped with rose-coloured spectacles!

Bridging the expectation gap can be a confronting experience for vendors and many only realise too late that timing is one of the most crucial aspects of achieving the highest price. If they keep the rose-coloured spectacles on for too long and turn down offers they later realise were reasonable, it is likely that the property will become stale and purchasers will lose interest.

This is the scenario that vendors should avoid at all costs by taking a reality check early in the piece rather than waiting months until it becomes so obvious that the price is wrong that only the bargain hunters are still interested.

The good news is that many vendors ultimately finish by achieving a sale price they are ultimately happy with – which is not the same necessarily as getting what they originally wanted. Take the advice of your Real Estate agent, they have likely discussed your home with colleagues and a price recommendation is often very well-thought out and planned.

One of the drawbacks of renting is that landlords may want you to move out at some stage. This could be for reasons that you can’t help such as their needing to sell the property or wanting a family member to live in it, but sometimes even the decision to sell could have been influenced by the tenants themselves. What can you do to minimise the risk of this happening?

1) Always pay rent on time – Many tenants make the mistake of thinking their landlord is very wealthy. In fact, many landlords are young people, couples or small families investing in homes to prepare for retirement. These people often give up holidays or live in shared accommodation to help pay their bank loans. As a result, tenants which pay on time are always appreciated and viewed as highly valuable.

2) While serious repairs are necessary, many tenants choose to take care of small maintenance issues themselves. On the other hand, some tenants ignore problems and let them become more expensive as time goes on.

3) Think of the impact you have on neighbors – If your neighbors complain about noise or rubbish left laying on the ground, it goes without saying you will be seen negatively in the eyes of your landlord.

4) Keep the home clean and tidy – If the home looks well cared for, especially during inspection time, your Property Manager and landlord will be more likely to see you as a good tenant and want to keep you for longer.

5) Ask before making changes to the property – Putting nails in the walls or otherwise changing the home can be viewed quite negatively. Ask your Property Manager before you do this, or better yet, use adhesives which are wall-safe such as 3M hooks for photo frames.

In most cases, using your better judgment is the best way to being a good tenant. If in doubt, your Property Manager is only a phone call away and more than happy to assist.

The main reason investors like to buy rental properties is that there is some financial benefit to them. The benefits are immediate in the form of the weekly rent that is paid. However, when tax time arrives there is likely to be some extra financial benefit here too.

There is much information to take in when you become an investment property owner and it can seem daunting. Nevertheless, through with the right guidance and fantastic advice, you will soon feel confident when the time arrives to claim taxes, in knowing that your investment is safe and that you have made the right choices.

To shed some light on how your investment can benefit you at tax time and what you are unable to claim, read further.

Items you can claim

The interest charged on the loan you receive to purchase the property can be claimed, including if you buy land to build a rental property. The interest on any finance to carry out renovations on the rental property can be claimed too, for example, if you get finance to add a covered entertainment area or a carport. If you renovate a kitchen in need of a facelift then this interest can also be claimed.

The interest for loans on depreciating assets can be claimed also, such as air conditioners. Repairs that are required on the rental can also be claimed, you will need to provide supporting documentation such as receipts for these.

You should always seek advice from a professional such as an income taxagent or a property management company to be 100% sure about what you can claim.

Items you can’t claim

While you can claim interest on the home loan while the property is a rental, once you start living there yourself or use it for private use, you can no longer claim the interest. If you use any money from the loan on personal items such as to buy a new car or to invest, you cannot claim the interest on this portion.

If you obtain a new loan to purchase a property that will not be used to generate income, you are cannot claim the interest on this particular loan. To make things simpler when it comes time to claim, it might be wise not to combine loans.

Gone are the days where you signed up for a home loan with the same rigid contract terms that everyone else had to agree to. Today you will find banks and lenders are more flexible with their loans and the terms as they realise that to reach a greater market and to accommodate more customers, they have needed to change their methods to suit yours.

This is fantastic for those who are looking for the perfect home loan, as the chances of finding and securing one are higher. It is advantageous to obtain good advice regarding the current home loans that are available, as the different options can make the process seem confusing or even daunting. An expert real estate company such as Prudential Real Estate would be ideal to include in your list of people where you can seek advice.

Why talk to Prudential?

The team at Prudential Real Estate are experts in their field. Their years of proven experience in the industry and their ability to grow from one office to many are proof enough that they don’t make decisions lightly. And choosing the right home, or home loan, is not something to be rushed.

Prudential Real Estate offer fantastic information on their site regarding the different types of home loans and a calculator to give you an estimate on the amount you can borrow. Furthermore, in order for you to get a much more accurate idea, they recommend a mortgage consultant whom you can call for information and advice.

Available loans

Variable and fixed-rate loans are two of the more common kinds of loans available. A variable home loan means the interest rate and therefore repayments will change, whereas a fixed rate is a loan where the interest rate will stay the same for a period of one to five years.

Each of these loans will have different conditions that vary from lender to lender so make enquiries regarding each method. However, if you are looking for as much flexibility as possible then a transactional mortgage may be for you. The mortgage itself acts like your own personal bank account so you may pay and draw money as it suits; however, a downfall is that you have to exercise a lot of restraint.

Low doc home loans are fantastic for those who are self-employed or who don’t fit the criteria for a standard bank home loan. You won’t need as much paperwork for approval, although the interest rates are usually higher.

For more information on these loans and others, visit Prudential Real Estate online at http://www.prudential.com.au/ today.

Tenants are expected to take their role seriously when it comes to tenancy
agreements and even though as a renter they have many rights, they don’t have
the right to make changes, additions or repairs whenever they see fit.

There may be instances of course when repairs or renovations are required
but these can’t just be carried out by the tenant. If you’re after a better idea
of what these might be, keep reading to learn some more about renting.

Any changes you make to the property, big or small, can either increase or
decrease the value of it. So regardless of if you are willing to spend your own
money to make the changes, the owner still needs to give permission regarding whether
or not you can make the changes.

Minor adjustments

Tenants may wish to make changes to a property such as the plants in the
gardens or hang pictures by adding hooks, which may seem like a reasonable thing
to do, but you still require permission to do this.

If it’s just a matter of putting pictures up on the walls, then be smart and
use the adhesives that are removable and that won’t damage paintwork or
wallpaper. If you wish to add a few extra plants, then it’s a simple matter of
contacting the real estate office that you rent through and ask them to get permission from the lessor.

Major adjustments

If you decide that the kitchen bench is worn out a little too much for your
liking or the bathroom recess needs changing and you consider yourself to be a
bit of a handyman, it doesn’t matter; don’t do it. The same goes for all other
kinds of renovations or repairs.

Again, getting approval first is necessary, especially if it is an electrical or
plumbing repair. These will need to be carried out by a professional to ensure
that all work is done correctly and will not be a risk to anyone residing on the
premises.

The same goes for wanting to paint a new colour or change the flooring in the
home, even if it is an obvious improvement, permission must be sought and
approved.

There are many more scenarios in which you must get permission before you
make any changes to a rental property; therefore, if you are unsure of anything,
always check with your property manager first.

With the real estate market in its current condition, it is the perfect time to think about buying or planning to buy your first home. Some experts are saying it will be some time before the market picks up again and so for those who are willing to put in some hard work towards saving a deposit, the dream of owning a home may not be so unattainable. Below, are some tips to get you there.

Be prepared to sacrifice

With savings comes sacrifice. You need to be prepared to cut back on those luxuries you may often afford yourself. These  might include eating at home instead of eating out or ordering takeaways, the new pair of shoes you thought you had to have and the new piece of electronic equipment you think you can’t live without. Every little bit of cutting down will go a long way and if you don’t cut down, it will take longer to get there.

Instead, plan your weekly meals and budget better; don’t stray from your budget unless you absolutely have to and instead of buying into the latest fashion, stick with what you have just a little longer. Styles change, so those shoes will be out of fashion soon enough. Another area to sacrifice is putting away a chunk of your salary. At least 20% of your salary should be put away for savings if you are serious about reaching your goal.

Don’t wait until the last minute

Be realistic about buying a home; if you are just beginning to save then accept that it may be a couple of years before you can buy. Trying to buy too soon and scraping together a deposit at the last minute won’t do your stress levels any favours and you could miss out on better opportunities. Get your deposit together first.

Savings accounts with high interest

There are plenty of fantastic savings accounts available from all banking institutions; do your homework and find the one that best suits you. Open an account and when you start putting money in, don’t take money out. If it makes it easier to put aside, have it directly debited from your salary rather than rely on yourself to transfer it; this could put the temptation to spend in your way.

Talk to the experts

Last but not least, talk to the experts about saving and affording a home. Naturally, enquiring with lenders and financial experts will point you in the right direction of savings accounts, shares and the different kinds of loans available.

Prudential Real Estate will also be able to offer some fantastic advice on reaching your goal of owning your dream home and then finding it with their expert assistance. If you would like to find out about reliable real estate, visit them online at http://www.prudential.com.au/ today.

The finalists have been announced for the LPMA 2013 Awards for Excellence. Local property management Business Development Manager, Nick Giles is a finalist in the Excellence for Business Development Award category.

The Prudential Real Estate team is thrilled to have been named as a finalist in the award for Excellence, by LPMA.

We would like to thank all of our wonderful team, including landlords, tenants and tradespeople, whose support and encourage has brought us to where we are today.

LPMA is an elite group of professionals made up of the very best property management practitioners and companies. They are at the forefront of Australian property management practice, and their Awards are highly sought after. By being announced as finalists, these firms and individuals are recognised as the very best in the property management industry. They lead the way in professionalism, professional development and industry standards.

Bob Walters, Executive Director of LPMA said “All finalists in these Awards are of such a high standard that it is difficult to separate the winners”.

“LPMA Members are governed by a Code of Practice and exemplify the highest levels of professionalism and innovation, therefore these Award finalists are deserving the highest honour that we can bestow: Bob added.

Winners will be announced at the LPMA 2013 Gala Award Dinner being held at Jupiter’s Casino and Hotel on Queensland’s Gold Coast, on Thursday 18th April.

We would also like to congratulate all of the other award finalists on their amazing achievements also.