Lend A Hand For Renters

Is NRAS is losing its edge as affordability improves?

While the network supports NRAS in principle, it is no longer effectively impacting on rising rents, leaving those most in need of assistance flailing in their efforts to make ends meet.

First National is calling on the government to look at changing NRAS so it has more relevance and achieves what it set out to do, or consider other forms of assistance such as bringing back some of the grants and other incentives that were obviously phased out too soon.

First National says while it is good news for the property market to get first home buyer activity increasing as a result of the market conditions, it is not good when it is done at the expense of those renters who can least afford it.

Struggling renters need access to assistance schemes that meet their circumstances and offer real assistance, which NRAS initially did, but has since failed to recognise the growing demand of assistance required, making it obsolete.

We don’t see property market conditions altering too dramatically in the near future, and certainly not to the extent that they will improve the situation soon enough.

How do you avoid the wild goose chase with utility connections?

Give the birds the flick next time you move…

Did you know that the average time it takes to disconnect the average home’s utilities and reconnect them at your new address is nearly six hours?

Who has that sort of spare time when they’re in the middle of moving?

It would be great if it were only the water, electricity and gas you had to contend with. However, these days there’s usually also the phone, pay TV and Internet that all need to be disconnected and then re-connected. That means dealing with tedious call centres, waiting in time-consuming queues, and usually having to put up with providers trying to upsell you to different products from the one’s you’re using.

First National agents recognise that you need help and we have the ideal solution. One phone call to Direct Connect will see all your utilities transferred to your new address expertly and efficiently.

Direct Connect will even let you know if there’s a better deal for you if you want them to. They keep you informed and you can spend your valuable time looking after the unpacking, the kids and getting set up.

Just ask your First National Burnie property manager for the details.

Do I really need Landlord insurance?

Not all tenantsare bad, but you do need to make sure you are covered
Guard against this sort of nightmare...
Guard against this sort of nightmare…

should something go wrong.

While most tenants take good care of the proper they are leasing, those that don’t may intentionally cause extensive damage. Intentional damage is not covered by many standard home insurance policies nor is the failure to pay rent.

The valuable common features of a Landlord Insurance policy include:

  • Malicious or intentional damage to the property by the tenant or their guests
  • Theft by the tenant or their guests
  • Loss of rent if the tenant defaults on their payments
  • Liability, including for a claim against you by the tenant, and
  • Legal expenses incurred in taking action against a tenant.

It’s important to remember that not all landlord protection policies are the same. Some, for instance, are designed to be used in addition to a typical home and contents or strata title policy while others are more comprehensive.

Some policies allow cover for the contents of the property. This is particularly important if you rent a partially or fully furnished property. Speak to your First National Property Manager and they will be able to help you find the right policy.

What’s the best way to combat mould in your home?

Unsightly, unhealthy and unwelcome...
Unsightly, unhealthy and unwelcome…

Mould spores are always present in the air around us which is why it is so important to keep your home properly ventilated.

As simple plants belonging to the fungi group, these tiny aviators need moisture in the air and are always on the lookout for a nice enclosed area in your home where ventilation is poor. That’s why cupboards and wardrobes often present the ideal moisture and temperature combination for mould and mildew to thrive.

To combat mould, you need to reduce moisture levels, consider insulation and increase ventilation.

Ideally, start by opening the windows to create cross ventilation regularly. This is the most energy efficient and inexpensive approach. Too cold? Alright, but open the windows just a little. Remember, the important thing is to keep air moving.

Next, check what’s going on with insulation. Insulation prevents heat loss from walls and ceilings, thereby keeping a room warmer. When the walls and ceiling are warmer, moisture is less likely to condense on these surfaces, so your home is kept dryer.

Alternatively, another common method is to use an electric dehumidifyer. Most hardware and department stores can recommend the appropriately sized unit for your affected room.

Other areas that mould and mildew really enjoy are closets and the clothes they contain. As moulds grow they cause considerable damage. Mildew secretes an enzyme that decomposes organic matter and uses it for growth and reproduction. It often leaves a musty odour in clothes and causes unsightly black stains and rot.

One well-tested and successful method is to place a small low wattage electric light globe, say between 40 and 60 watts. The dry heat prevents mildew and mould growth although this can be expensive.

Many people prefer to buy chemical dehumidifyers such as ‘Damp Rid’ and ‘Closet Camel’ at the supermarket or hardware store. These small plastic buckets contain refillable mineral salts that absorb moisture, collecting it below in a small reservoir that you need to empty periodically.

Maximise Your Property Investment Returns

For investors to maximise the financial benefits of their property they need to look at their investment as more than just collecting rent or striking a deal on management fees.

The crucial component for a successful rental property yield is to appoint a trusted and reliable property manager such as a First National member agent who can provide expert advice on the opportunities available for them to take advantage of to improve the yield of their property investment portfolios.

First National agents have an in-depth knowledge of their local markets and can assist with the two most important criteria when choosing an investment property – location and quality.

Properties located close to transport, schools, place of work, shops and recreational facilities will be in greater demand and usually command a higher rental.

It is also wise to maintain the real estate asset in good repair and ensure it is well presented.  That way,
rent is maximised, vacancy periods reduced and a high standard of tenant attracted, who will ensure their rent is paid on time.

Sometimes, simple improvements like a fresh coat of paint in bathrooms and kitchens, or installing new window coverings, can make the world of difference.

As an experienced property manager, supported by rigorous processes and systems, First National Burnie provides the highest standard of advice to investors, backed by leading edge technologies that match tenants to vacant properties and comprehensive marketing programs.

A professionally prepared tax depreciation schedule can also play an important role in the efficient management of the property investment.

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