CENTURY 21 AGENTS. SMARTER. BOLDER. FASTER.
With compliments
INSIDE THIS ISSUE
PUBLISHER Century 21 Australia Pty Ltd
LIFESTYLE
PROPERTY
HOME IDEAS
SUMMER | 2017 Summer home ideas
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Decorating for summer
10
Bathroom renovating 101
13
Garden guide
17
DIY delights
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Why investors should look beyond property hotspots
4
Strength of Kiwi real estate set to continue
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Investing with another party
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Multiple owners increase depreciation claims
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New Year’s Eve proof your investment property
40
Sydney to Hobart sets sail
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Tauranga 28
CONTRIBUTORS Charles Tarbey Geoff Barnett Cherie Barber Chris Gray Bradley Beer Carolyn Parrella Emma Blomfield Hamish Chapman Kerry Pearson Michelle Lukman EDITORIAL ENQUIRIES Rebecca Pratt T +61 (02) 9025 9590 rebecca@zmmgroup.com ADVERTISING ENQUIRIES Marketing Department T +61 (02) 8295 0600 askmarketing@century21.com.au ART DIRECTION/DESIGN Thomas Felgueras T +61 (02) 8295 0600 askmarketing@century21.com.au PRINTER Excel Australasia T +61 (03) 9775 1411 info@excelaustralasia.com.au DISCLAIMER We have in preparing this information used our best endeavours to ensure that the information
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contained therein is true and accurate, but accept no responsibility and disclaim all liability in respect
Spotlight on Alchemy
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of any errors, inaccuracies or misstatements contained herein. Reproduction in part or full is not permitted without the express written permission of the publisher. Century 21 Australia Pty Ltd cannot be held responsible for the accuracy of
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statements made in advertising or editorial in this publication, nor the quality of services or products
TECH
promoted. The publisher excludes any liability for
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App review
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any loss or damage sustained by readers arising from, or in conjunction with , the supply or use of information in this publication through any cause. Opinions expressed in this magazine are of the writer or contributor and are not necessarily the opinion of Century 21 Australia and Century 21 New Zealand or its advertisers.
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PROPERTY
WHY INVESTORS SHOULD LOOK BEYOND PROPERTY HOTSPOTS By Charles Tarbey, Chairman and Owner of Century 21 Australasia.
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SUMMER | 2017
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ydney has long been considered one of the jewels in the Australian real estate crown and has continued to attract attention for its rising property prices and bullish market conditions. However, recently signs have appeared that Sydney’s reign as a growth leader may be losing steam. CoreLogic’s September Home Value Index reported that Sydney dwelling values edged 0.2 per cent higher over the September quarter, however slipped 0.1 per cent lower over the month. This was the markets first month-on-month decline after 17 months of consistent capital gains. Melbourne is another market that has attracted considerable attention yet one that has also started to show signs of slowing. Melbourne dwelling values increased 0.9 per cent over September, and CoreLogic noted issues related to off the plan unit sales in certain parts of the market. I believe it may now be time for investors to shift their focus away from the ‘hotspots’, and considering looking towards markets that may not have benefitted from the same capital growth experienced by markets such as Sydney and Melbourne. Investors may wish to consider markets that are less talked about, such as areas that have long been suffering or that have experienced very little growth at all. For example, Perth is a market where some have been struggling to complete their transactions however also a market that investors may benefit from taking a close look at. Parts of the WA market appear to have gotten close to, if not reached, rock bottom in the property cycle and in some cases, prices are lower than what they were pre-boom. Brisbane has had relatively little growth in a decade, particularly when compared to Sydney and Melbourne. CoreLogic’s September Home Value Index showed a 2.9 per cent increase in dwelling values over the year. Despite this, the
market offers many appealing qualities such as lifestyle, accessibility and a well-established owner-occupier base compared to other coastal areas. There are two key advantages that arise from markets that are not ‘hotspots’ and that may benefit first home buyers and investors alike.
remains the same is the necessity for extensive research, due diligence and professional advice. This will help you better weigh up your property goals and ensure any decision to invest in real estate over the coming months suits your own personal circumstances.
Firstly, they may allow a less frenzied approach to be taken when contemplating a property transaction. Buyers may encounter opportunities without the pressure of a boom, and can weigh up a transaction with less pressure to rush in and purchase. Secondly, they may be faced with more room for steadier capital growth prospects. A struggling real estate market may initially be approached with hesitation by some, but I remind Australians that real estate is best approached as a long term investment. Investors may be able to enter the market and purchase property at a more achievable price compared to boom markets, and may achieve better growth prospects by holding the property and riding the real estate cycle. Regional markets are also proving to hold good prospects beyond the capital city hotspots. In September, CoreLogic reported that the Illawarra region of New South Wales was once again the top performing regional market for the June 2017 quarter. The region recorded the largest annual increase in home values, up 15.8 per cent for houses and 14.4 per cent for units. Other areas such as the Sunshine Coast, regional Melbourne, Canberra and the south coast of Sydney are areas that were picked by Century 21 to hold good growth prospects over a year ago and have proven to be very dynamic markets. It is likely the halo effect may continue to propel growth in these areas so they may be worth keeping an eye on.
ABOUT CHARLES TARBEY Charles Tarbey is the Chairman and Owner of Century 21 Australasia, one of Australia’s largest and most diverse property groups. Charles has been actively involved in the property industry since 1972, and has trained and given advice to thousands of real estate agents, vendors and purchasers. He is also the author of two real estate books, Profit Driven Real Estate and Listing Rich. Scan the qr code below or head to www.charlestarbey.com.au to get your free copy of ‘Listing Rich’.
However, regardless of what people are talking about and whether a market is considered a property hotspot, what
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PROPERTY
STRENGTH OF KIWI REAL ESTATE SET TO CONTINUE Geoff Barnett, National Manager of Century 21 New Zealand, shares his market outlook.
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SUMMER | 2017
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ithout a doubt, 2017 saw a steadying of Auckland’s house prices. Nationwide, there’s a slowdown in total sales and selling times, but overall the outlook for New Zealand real estate remains strong for 2018. Twelve months ago, commentators were predicting doom and gloom, plummeting prices, and fast rising interest rates. Instead, as I predicted, the country’s real estate has experienced a nice soft landing, taking it to a more normalised and sustainable market. Measures to increase the country’s housing supply and our Reserve Bank’s tougher loan-to-value ratios (LVRs) have helped take much of the heat out. Gone are the days of silly prices and quick sales. Instead we’re seeing more buyers setting the price with vendors’ expectations slowly but surely getting more realistic. Auckland is still going well, helped by the fact that it remains one of Australasia’s fastest growing cities, expanding by about 40,000 people every year. It is already home to one third of New Zealanders, and next decade it will reach a population of two million people. Such strong population growth provides some ongoing resilience to New Zealand’s real estate market, but so too does our economy. Growth forecasts remain solid, as does business and consumer confidence, all while interest rates remain relatively low, with many fixed rates still well under five per cent. What’s more, New Zealand’s shortage of housing remains and will do for some years. So all in all, the conditions for an ongoing sustainable and stable real estate market remain in place. As well as the return of a more normalised market, one thing any visiting Australians would notice is the sheer number of new housing developments underway. Not only in Auckland, but there’s huge subdivisions
happening in some of our smaller provincial centres and even on edges of our smaller country towns. 2018 will see the continuation of the building boom, with dozens of tower cranes noticeable on the Auckland skyline building apartment complexes in and around the central city. Another observation the wider industry is experiencing is the fact that everyone’s seeing more deals falling over solely due to finance. Many first-time buyers in particular seem to be struggling to secure a mortgage.
In spring, Century 21 New Zealand launched its own cadet programme with the aim to recruit new real estate agents who are industry-ready. Such an initiative is yet another reflection of Century 21’s growing strength and recognition in the New Zealand marketplace. Not only will Century 21 have another strong year locally but so too will Kiwi real estate generally. So, here’s to 2018!
That’s why I called for the 20 percent deposit requirement for first-home buyers to be scrapped for lower valued properties. REINZ also called for a review on LVR restrictions given house prices are now normalising. We’ve got young couples in Auckland earning a quarter of a million dollars between them, who could easily service a mortgage but because of high rents and living costs, they struggle to save a big deposit. It’s over $200,000 in deposit just to buy the average Auckland home! I remain adamant that many firsthome buyers should be exempt from the blanket high deposit requirements. They should still pay a deposit and their savings history and ability to service the mortgage must still be heavily scrutinised, but it’s time they got a fairer go. Many agree. In the meantime, for those who can get a deposit together, it’s a great time to buy in New Zealand. The Reserve Bank has indicated that interest rates look set to remain low in a historic sense, and coupled with the fact that rents continue to climb, prospective buyers are getting on the mortgage calculators and doing their sums. Subsequently, quite a few are pleasantly surprised when they compare mortgage repayments to their rental costs.
ABOUT GEOFF BARNETT Geoff has been involved in the real estate industry for some 10 years. Prior to this he had over 30 years’ experience in business development and business management. Geoff has welldeveloped business networks and a thorough understanding of the day to day issues business owners face in running a successful business. Geoff is also very active in the community, as he is a member of his local Lions club, and current regional manager of Camp Quality Auckland Northland. He is also a trustee of other community trusts.
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HOME IDEAS
SUMMER HOME IDEAS Brighten up your home with this season’s latest pieces. KIDKRAFT DOUBLE CHAISE OUTDOOR LOUNGE The Double Chaise Outdoor Lounge from Zanui will be the perfect spot for your little ones to get some shade from the hot sun. Its two mini lounge seats come in a sweet stripy design, with a three sided cotton and mesh canopy to provide sun protection. The lounge is also weather resistant to withstand the summer heat. $259.95 AUD
SOMMAR CUSHION COVER It’s the best season to inject some vibrant colour into your living area, and the Sommar Cushion Cover from IKEA does just that. The greatest part about the cover is that it has two different designs on either side, so if you want to stick to monochromes you can do just that. $14.99 AUD
MASTHOLMEN TWO SEAT SOFA This Mastholmen Two Seat Sofa from IKEA is handmade and is the perfect outdoor piece for summer. The sofa is made of natural fibres and is lightweight, but also sturdy and durable. Its plastic feet protect it from moisture, and its cushions feature a water repellent lining that is easy to clean. Grab a book, some sangria and hang out in the sun. $229 AUD
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SUMMER | 2017
FRUTTI ROUND DRINK DISPENSER Delight your guests with ice cold drinks from the Frutti Round Drink Dispenser from Zanui this summer. Whatever the concoction, be it fruit punches, iced teas or homemade cordials, the dispenser is as practical as it is stylish. This is the perfect piece for entertaining, no matter the occasion. From $49.95 AUD
SOLVINDEN LED SOLAR-POWERED PENDANT LAMP Light up your outdoor area with the Solvinden LED solar-powered pendant lamp from IKEA. Featuring an eye-catching design, the lamp will help you save energy and reduce your environmental impact. Mix and match with different designs to give your outdoor space some environmentally-friendly mood lighting. $19.99 AUD
LUXE SWAN FLOAT Snap the perfect Instagram picture with this delightful Luxe Swan Float from Zanui. This is the perfect pool accessory to laze about on hot days with a drink in hand, and is sure to be a favourite for all ages. $99.95 AUD
TO FIND OUT MORE, VISIT www.ikea.com/au/en www.zanui.com.au century21.co.nz | century21.com.au | 9
HOME IDEAS
DECORATING FOR SUMMER How to get your home ready for the entertainment season.
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SUMMER | 2017
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HOME IDEAS
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re you ready for it? The balmy evenings outside with a glass of wine, the weekend barbecues with friends, endless silly season parties, salty hair after beach swims and finally being able to fling the doors open and leave them open all day long without freezing to death when the night chills hit. That’s right, summer is here! It’s time to get your home looking fab for the entertainment season ahead. If it’s on your to-do list to jazz up your home prior to Christmas then here is your permission slip to go forth and redecorate. I am typically a winter lover décor-wise but summer has so many appealing features that it would be easy to switch sides. Here are five of my top tips for decorating your home in summer. 1. Rethink your sofa and bedroom soft furnishings. These are items that can be changed depending on the season as they are inexpensive to change, as opposed to changing your bed head each season (unless you’re swimming in cash!). You don’t need to spend a fortune here, two patterned cushions (50 x 50cm in size) on your bed with crisp white bed linen makes enough of a statement for
your room. The same goes for the sofa, maybe you only need to add a couple of new cushions to make an impact. 2. Invest in some new pieces for entertaining. You don’t need to go out and buy brand new dinnerware and glassware sets – instead you could just purchase some key pieces like candlesticks, tablecloth, placemats and napkins all in a fresh summery feel. Then, every time you invite guests over for dinner, you have a set ready to go to throw onto the table and refresh the table in an instant. 3. No room is ever complete without a bit of life or greenery added to it in my opinion. Fresh flowers for the coffee table or kitchen bench won’t set you back more than $40. Hot tip - break up a bigger bouquet and use a few stems around the house in other rooms. 4. If you’re up for more than just a DIY challenge, powder coating your kitchen cabinets in a new colour will change the look and feel of your kitchen significantly. Then change your door knobs for additional impact. 5. Refresh your outdoor living space with some new pots dotted around your patio or garden. Add some citrus trees to the pots to get a fun yellow or orange pop of colour throughout the year.
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ABOUT EMMA BLOMFIELD Emma Blomfield is an interior stylist and homewares buyer. Emma is passionate about making decorating affordable and accessible to all Australians. Emma’s decorating services are available not only in the Sydney metro area but also rural and regional towns for people looking for a more hands on decorating approach. Emma runs regular decorating workshops around the country helping her students to become more empowered in their decorating choices. www.emmablomfield.com
SUMMER | 2017
BATHROOM RENOVATING 101 Here are Cherie Barber’s tricks to make the most of a bathroom update.
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hat buyer doesn’t love walking into a beautiful bathroom, complete with all the modern trappings, divine towels and accessories, and maybe some fresh scented f lowers? It’s such an important room that it’s often said that for every cent you spend, you potentially reap up to a tenfold return. Of course, that assumes you’ve invested your money wisely and directed every cent towards the features, finishes and general upgrades that hit the right note with buyers. If the bathroom is completely dilapidated, then you obviously have no choice but to gut and start over. While it’s the most costly option, it does provide the opportunity to design exactly the bathroom you want. The next option is to strip out the existing bathroom fixtures and fittings, keeping all the plumbing exactly where it is, and update with new a toilet, vanity, tiles, shower screen, etc. This will mean there are no structural changes, and plumbing costs are kept to the absolute minimum.
Then there’s the bargain basement option that will probably cost you less than $1000: a cosmetic refresh that consists largely of specialty paints, resurfacing products and updating hardware like taps, towel racks, a new mirrored cabinet and window furnishings.
Take the time to visit bathroom showrooms, consult the professionals, check out design magazines and websites, and explore all the possibilities before you decide on a final plan that fits your budget.
If you’re going down the road of a complete bathroom renovation, and thinking of project managing the reno yourself, then it’s really important to be across all the steps of the process. Here’s a quick guide to what’s involved.
A complete bathroom renovation could cost anything from $10,000 upwards, depending on a whole load of variables, including bathroom size, complexity of the job, quality of the fixtures and fittings, whether you’re managing the renovation yourself or hiring someone to project manage it… but the important thing is to start with your budget and work back from there, so you’re realistic about what you can afford. If you’re renovating for profit, my rule of thumb is to allocate 2 per cent of your current property value as your bathroom reno budget.
WORK OUT THE BEST LAYOUT If you’re gutting an existing bathroom, you may be fortunate enough to find the current layout works perfectly. Other times it may be worth the added expense to rejig a couple of things – move the toilet to a more discreet spot or shuffle the basin to the long wall so you can have a nice, big vanity. Reece has a handy bathroom planner on its website that can help with inspiration w w w. r e e c e . c o m . a u / b a t h r o o m s / bathroom-planning
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BEFORE
CALCULATE A BUDGET
GET YOUR HEAD AROUND WHAT NEEDS DOING For a full bathroom renovation that will involve multiple trades, it’s incredibly important to know the correct order of works, otherwise you’ll have tradies
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AFTER A BATHROOM IN BLACKTOWN RENOVATED FOR $2500
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Work done:
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Removal of dated fixtures & fittings Remove small bath tub & install new standard size bath
backwards and forwards unnecessarily. For example, for the demolition you’ll need the plumber and sparkie out: power points need disconnecting and plumbing outlets shut off before you yank those off the walls and there may be some “roughing in” if you’re moving things around. Then you need those two trades back later when it comes time to install lighting and plumbing fixtures. Then there’s a whole load of different trades that need to dovetail around them: tiler, maybe a carpenter, demolition guys… Get the picture? If you’re not up to the job of project managing the renovation, it may be best to leave it in the hands of a builder or kitchen company. They’ll
Tile paint existing wall tiles Install new tiles on one side of the bathroom as a feature DIY re-painting of walls & ceiling Installation of new floor tiles Updating existing bathroom lighting Installation of new toilet, vanity, mirror, fixtures & fittings
take their cut, but at least you’ll have peace of mind it’s in the hands of pros. PROJECT MANAGING THE RENO If you’ve decided you’re up to managing the renovation yourself and coordinating all the trades and ordering of materials, then draw up a detailed project plan, which has: • an order of works (what tasks need doing when) • scope of works (fleshing out the precise details of what needs doing so your trades are properly briefed) • costs • timeline
AFTER You can create a project plan using software such as Microsoft Project, where all the tasks, costs and estimated time lines can be inputted, and it will automatically update as you go. Or you can use an Excel spreadsheet. HIRE YOUR TEAM OF TRADIES Start by asking friends, colleagues and family for their personal recommendations. That’s probably the most reliable source of quality leads. Jump online and look up your tradie on www.licensedtrades.com.au. This portal site covers all state government bodies responsible for registering the various trades, so you can enter the
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HOME IDEAS
name of your prospective tradie and check that they are just not licensed, but hold the correct licence for the work they are doing. You may discover the licensed builder you were hoping to hire is actually only registered as a carpenter! CHOOSE YOUR FIXTURES AND FITTINGS This is the fun part! If you want a
contemporary, but timeless, look, go for warm, clean, neutral colours. The trouble with choosing “right now” trends is they can look “so yesterday” just a couple of years down the track. For the floor, a matte or non-textured non-slip tile in a darker colour than the walls will hide inevitable dirt and hair that bathrooms attract.
Whether it’s tapware, sinks, towel racks or baths, establish the look you’re after then shop around for the bargains. Gumtree, Grays Online, eBay, discount warehouses or even clearance sales at bathroom suppliers… they’re all rich pickings if you’re looking to save money.
BEFORE
AFTER
ABOUT CHERIE BARBER A BATHROOM IN COURIDJAH RENOVATED FOR $8000
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Work done:
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Cosmetically refresh the bathroom joinery by adding MDF trim to the existing doors, new hardware and laminate paint Install stone look laminate benchtop
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and dual vanity dual sinks Install new feature lights to the vanity area Waterproof and retile the bathroom floor and walls Install freestanding bath, open shower and new toilet Install new bathroom fixtures and fittings
Cherie Barber is a public speaker, TV renovator on Network Ten’s ‘The Living Room’ and the owner of Renovating For Profit, a company that teaches everyday people how to buy and renovate properties for a profit. To find out more, visit www.renovatingforprofit.com.au
SUMMER | 2017
GARDEN GUIDE Keep your garden looking lush in the summer sun.
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HOME IDEAS
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ummer is the time of year when we are able to take greatest advantage of our gardens and outdoor spaces. The days are long, the sun warm, and it is a time of year when many of us are able to take a break from work and routine to enjoy the festive season and its more relaxed aftermath. Whether you are looking to sell your property over the summer months, put on a big Christmas bash, or simply want to enjoy spending time outdoors over the summer break, here are some of my tips on how to get the most out of your garden.
Though the summer sun is inviting, it is also a significant stress-factor for
plants, causing them to use more water at a faster rate. This is true of much of Australasia, where even temperate areas are subject to more and more regular days of over 30-degree heat. Ensuring your garden is well-watered on a regular basis is vital if you want to keep it looking healthy. Give plants a proper soak in the morning or afternoon at least once a week, and additionally on particularly hot days. Avoid watering in the middle of the day, and ensure you water around the base and roots of yours plants rather than spraying the leaves and flowers, as this can burn them. Where possible, when watering in the afternoon or evening, allow enough time for the foliage to dry out – your plants may end up with mildew or other
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fungal problems if they are left soggy in humid conditions. Of course, some plants will tolerate the heat better than others, so keep an eye out for signs of stress and top up the water as required. In addition to water, plants will greatly appreciate a regular dose of Seasol or other similar solution to help them cope with the heat. New, struggling or damaged plants will benefit in particular from this, as will potted plants. Water soluble fertilisers are beneficial during times of faster growth for plants, but should not be applied in extreme heat or when a plant is struggling. Fertilising your lawn can be a good idea to keep it looking lush and healthy.
SUMMER | 2017
Again, it is best to avoid doing this during very hot weather or when the lawn is looking stressed. Fertilising when a good amount of rain is due will ensure the fertiliser soaks through into the soil effectively. Specialised lawn fertilisers will provide your lawn with an appropriate amount of nutrients to keep it looking good and to help it thrive throughout the hot summer. More regular mowing will be required through the summer but it is important not to mow lawns too short, as this can leave them stressed and prone to being burnt by the sun. Using selective herbicides on weedy lawns will often temporarily impact the health of the lawn itself, so again avoid doing so if very hot weather is expected. Plants and weeds grow faster throughout the summer. Hedges and shaped plants will require more frequent trimming, and you will need to keep a close eye on weedy areas if you want to keep your garden looking neat. Adding a good layer of mulch after thoroughly weeding will help keep unwanted plants at bay and will assist the retention of water in the soil, benefitting your plants. Thick mulches can become hydrophobic as they dry out, so it is important to agitate or break up the mulch layer and check that water isn’t just running straight off. In very weedy patches of the garden, laying down and watering in a layer of newspaper four or so sheets thick after you’ve given the site a good weed will help a great deal in stopping the weeds from popping up again. A number of popular garden plants will appreciate being cut back fairly hard after their spring blooms are past their best. Cutting back and feeding azaleas will encourage new green growth and will improve the vigour of the plant into the future – this is worth it in the long run but since they will look a bit raw for some time afterwards this is probably not appropriate if you are selling soon.
Cutting back and feeding roses in the summer will encourage another flush of flowers in the autumn. Regularly removing dead and dying leaves and flowers from most plants will encourage new growth. Using a water-soluble fertiliser to feed plants such as camellias that bud through the summer will encourage a stronger floral display down the track.
Finally, and most importantly, enjoy your time in the garden. When working, ensure you stay hydrated, protect your skin and eyes from the sun, and be cautious not to overexert yourself. Set aside time to spend at leisure outdoors, not working, but admiring the outcomes of your hard work and sharing your outdoor spaces with family and friends.
While the best time for repotting your potted plants is generally spring, if you’ve missed your chance this year, repotting in summer is still viable and beneficial. Ensure you use a high quality potting mix, and if you have to cut the roots back hard, also ensure the plant gets enough water while it recovers. If repotted plants are looking stressed, it can be worth cutting them back a bit or removing some of the leaves. The peak of summer is generally not the time for planting, and where possible you should wait until the end of summer and into autumn to do your planting out. If this can’t be avoided, or you want to fill in some gaps to get your garden ready for sale or an event, again you should ensure you keep the water up, and cut the plant back a bit or remove some of the leaf mass upon planting to reduce the stress the plant will suffer as it settles in. Summer is a good time to observe what plants are thriving in the garden, and which are failing. If certain plants are requiring too much attention, think about where they could be repositioned to once summer’s peak has passed. If there are parts of the garden or rooms in your home which become unbearably hot over the summer, consider where you might be able to position shadegiving trees in the future. These can help reduce heat stress on underplantings, and can help you improve the cost- and energy-efficiency of cooling your home.
ABOUT HAMISH CHAPMAN Hamish Chapman is a passionate gardener and landscaper, and after completing his studies in Landscape Architecture at The University of New South Wales has amassed extensive experience working with expert horticulturalists. Hamish tutors at UNSW, in subjects that focus on horticulture, ecology, and planting design, whilst continuing to maintain a number of large gardens on Sydney’s north shore. He recently began working at a boutique landscape design firm, Adam Robinson Design, which specialises in stylish, and contemporary residential garden design and landscaping.
To find out more, visit
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HOME IDEAS
DIY DELIGHTS Try this handmade soap for a fun and thoughtful Christmas gift.
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SUMMER | 2017
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oap making can be a pleasurable and rewarding experience that will provide a better quality product than most mass produced soaps. Melt and pour bases are a great introduction to this hobby with a need for only a few items to complete your project, and it is also suitable for children if supervised by an adult. This creation is a layered soap with embeds to make it pretty and practical. YOU WILL NEED •
Clear melt and pour soap base
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Goats milk melt and pour soap base
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Miniature silk roses
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Heart mould
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Fragrance of your choice
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Isopropyl alcohol (rubbing alcohol) in a spray bottle
PROCESS 1. To begin your project you first prepare your mould in a location that can remain undisturbed for about an hour. Decide on the organisation of your embeds and have them close at hand as time will be
limited when you need to use them. 2. Cut 200gm of the clear soap base into 2cm cubes and place in a microwave safe glass jug. Microwave on high for 30 seconds. Stir and repeat until the base is melted. 3. Add 20 drops of fragrance of your choice (one clear in colour is ideal), stir well, and pour carefully into your mould. Spritz the soap with the alcohol to remove bubbles and position your embeds. They should sink slowly and can be positioned with a skewer if they move from their desired location. Allow to set completely. 4. Prepare 260gm of the goat’s milk soap base by cutting into cubes and melt the same way as before. When melted, add 25 drops of fragrance and stir well. Allow to cool, but not form a skin, so you don’t melt your clear layer. Spritz the clear soap with alcohol before pouring your next layer. Pour your goat’s milk soap over the back of a spoon onto your previous work. Spritz the back of your final pour with alcohol to remove any bubbles. Allow to set and completely cool to room temperature. 5. Carefully remove from the mould by applying pressure to the centre of the clear side. Wrap tightly with cling film until ready to use.
ABOUT KERRY PEARSON Kerry Pearson is the managing director at Heirloom Body Care, a company which has been supplying materials to small crafters across Australia for 14 years. Heirloom Body Care supplies ingredients for soaps, candles, moisturisers, toiletries and makeup, tailoring their services and supplies to many different skin conditions and needs. Kerry and her team at Heirloom also teach classes out of their Penrith headquarters, helping small businesses and crafters create better and higher quality products. To find out more, visit www.heirloombodycare.com.au
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Your investment Your return
Contact Australia’s leading property tax depreciation experts today and discover the deductions claimable from your investment property. 1300 728 726
info@bmtqs.com.au
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2017_AD497
Make your dreams become reality with the funds claimed from property depreciation.
SUMMER | 2017
SYDNEY TO HOBART SETS SAIL TwentyOne discovers what it takes to compete in one of the world’s most prestigious yacht races.
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LIFESTYLE
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n Boxing Day each year, Australians look forward to one of summer’s most renowned sporting events. In its 73rd year, The Rolex Sydney Hobart Yacht Race 2017 will once again captivate the nation with yachts from all over the world competing for the finish line. Starting in the world famous Sydney Harbour and concluding at the finish line off Hobart’s historic Battery Point, the race is a 628 nautical mile course and is often described as the most gruelling long ocean race in the world. The race was first conceived when a group of friends got together with the idea of taking a cruise to Hobart. One member of the party, Captain John Illingworth, suggested making a race of it, and thus The Rolex Sydney Hobart Yacht Race as we know it today, was born.
John first became involved with the race in 1997 as a competitor. In 2008, he joined the board of the CYCA and became more involved in the administration side of the race, eventually becoming Commodore. Having competed himself, Commodore Markos says it’s very exciting to be involved in the race. “The most exciting thing I remember is the start of the race. It’s quite an amazing scene to be amidst so many spectators as you exit the harbour. Then there’s the challenge of actually contesting the weather conditions, because Mother Nature can certainly throw it at you.”
after Captain John Illingworth. The yacht that wins the handicap honours will take home the Tattersall’s Cup. The winner of the handicap honours is calculated using the International Rating Certificate (IRC) rating system, which
Commodore Markos says all the emotions that come with finishing the race are also very overwhelming.
“Many people know that it’s grown to be one of the world’s most iconic races” says John Markos, the Commodore of the Cruising Yacht Club of Australia (CYCA).
Many yachts of different sizes will compete, with the age of the sailors ranging from 18 to 80. However, when it comes to the winners, things are slightly more complicated than your average race. The yachts competing in the race may contend for line honours or handicap honours.
Based in Rushcutters Bay, Sydney, the CYCA is one of Australia’s premier yacht clubs and is the proud host of the race.
Line honours is the most straightforward – the first yacht across the line will take home the J.H. Illingworth Trophy, named
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John Markos - Commodore of the CYCA
SUMMER | 2017
boat and without a crew. Around this time, he attended the funeral of the skipper and owner of the Impeccable – another boat he used to sail on. His old crew was there and it was there that they decided to get together to compete. With only weeks to go, the crew found themselves rushing to make the boat sailable right up until Christmas Day right before the race. “The boat went really well on that first Hobart, and has improved ever since. I think we’re going to get close to winning it… eventually!” Jim Delegat (centre) - owner of Giacomo, Overall Winner of 2016 Rolex Sydney Hobart takes into account yacht size and other factors. It’s designed to allow different boats to compete together, explains Commodore Markos.
will then take home the Tattersall’s Cup.
“Some of those factors include measurements of the boat like length and weight, displacement, and the size of the rig will be taken into account, as well as the overall sail area.”
Shane Kearns is the owner and skipper of Komatsu Azzuro. Having been a career soldier, Kearns was looking for another sport to do whilst in the army. He completed a basic sailing course at the sailing club in Rushcutters Bay and has not looked back since. He first competed in the race in 1994.
Once all the factors have been considered, then a Time Correction Factor (TCF) is determined and applied to the elapsed time to produce a corrected time. The fastest boat according to this formula
In 2014, Kearns decided to buy a boat in Mooloolaba. It was his plan to compete in that year’s race. However, nine months later, Kearns found himself still in Mooloolaba with a less than seaworthy
His crew’s experience spans decades, and Kearns say it is that experience that makes them invaluable when it comes to unpredictable weather. “When a storm hits, they’re the people that you want – experienced, can do the job, and can keep the boat safe.” “I think if you’ve got a core group and you all like each other and have a common goal, experience, and especially are not panicky when things do go wrong, then you have a winning crew – it takes years to get a crew like that.” Kearns has seen his fair share of tumultuous weather and less than ideal sea conditions, but when it comes to challenges, he says the biggest one of
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LIFESTYLE
them all is preparing for the race itself. “There’s an old saying in sailing – ‘to finish first, first you gotta finish’. So a lot of boats start off in blades of glory but things will happen. For me it all comes down to preparation, so that when we actually cross the starting line, I actually relax a bit.” Taking out the winning position is something that many vie for but few have achieved. Jim Delegat is one of those few. He is the owner and skipper of the boat, Giacomo, and he and his crew were the overall winners of The Rolex Sydney Hobart Yacht Race in 2016. Delegat first competed in the race in 2013. “It was a long held ambition, a childhood dream. We’re very passionate about ocean racing, and we saw the Sydney Hobart as one of those things we wanted to achieve.”
On their win in 2016, Delegat says, “It all came down to teamwork and execution and really understanding the weather patterns. It was really something of a reward for a long learning curve.” On the day of the race, Delegat thought there were many boats that were faster on paper, but he believed that if his crew sailed well, they still had a chance. When it comes to the crew, Delegat, like Kearns, says a good crew is indispensable. “My favourite part about sailing is the teamwork. It’s a team sport, and the key is high quality execution and timeliness, and understanding where you want the boat at any one time. It’s critical that we all rely on each other to play our part.” Joining the crew on the Giacomo are Delegat’s sons, “They’ve been sailing with me since they can remember, and we’re a sailing family. They are young
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and fearless sailors.” Having won the title of last year’s overall winner, Delegat will not be re-entering this year. Kearns, on the other hand, has still got his eyes on the prize, and hopes to be able to top the board soon. “I reckon we’re coming pretty close.” With boats of all sizes hailing from all over the world, this year’s race is bound to be another exhilarating one. Large yachts versus small, man versus Mother Nature, and the team work leading to race triumph are the elements of the race that stir excitement each year and Australians will be again waiting with baited breath to see who will join the esteemed winner’s circle this year. See them in action on 26th December, taking off from Sydney Harbour at 1pm at the firing of the starting cannon.
SUMMER | 2017
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Australia’s Leading Landlord Insurance Specialist *Across Australia, 82% of Terri Scheer customers paid $1 or less a day for their Landlord Insurance policy. Premium is based on all Terri Scheer Landlord Insurance policies purchased or renewed in the 24 months to 01/01/15 – 31/01/17, inclusive of taxes. Conditions and eligibility criteria apply. Consult your tax advisor in relation to tax deductibility of premium. Insurance issued by AAI Limited ABN 48 005 297 807 AFSL 230859 trading as Vero Insurance. In arranging your insurance, Terri Scheer Insurance ABN 76 070 874 798 AFSL 218585 acts under authority given to it by Vero Insurance. Read the Product Disclosure Statement before buying this insurance and consider whether it is right for you. Call 1800 804 016 for a copy.
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LIFESTYLE
TAURANGA
TwentyOne explores a gem of New Zealand’s Bay of Plenty.
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SUMMER | 2017
itting on the water’s edge and known for its warm climate and relaxed lifestyle, Tauranga is the Bay of Plenty’s jewel in the crown.
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Steeped in Maori history and mythology, the extinct volcanic cone’s Maori name is Mauao. It was once home to several historical Maori villages.
Tauranga is about two and a half hours’ drive south-east of Auckland. With a population of over 130,000, it is New Zealand’s fifth largest city and one of the country’s fastest growing. It offers everything from a cosmopolitan coastal experience to great walks and golf courses.
Today the mountain itself boasts a network of popular and well-maintained walking tracks. From its summit, the views are breath-taking including out along the entire Bay of Plenty coastline, and across the harbour to Tauranga. In the summer, large luxury cruise ships can often be seen anchored below.
Tauranga’s main hospitality area is right on the waterfront and is enjoyed by locals and visitors alike. Called the Strand, there are plenty of bars and restaurants where fine dining and international cuisine is served alongside bar snacks and tapas platters. It’s a popular spot.
Mauao also overlooks one of New Zealand’s most iconic beaches, apartment towers, shops, cafes and restaurants. Just a few minutes’ drive from downtown Tauranga, Mt Maunganui is a holiday paradise for those wanting to surf, swim, shop, dine or simply relax and soak up the atmosphere.
The area’s best-known landmark is Mount Maunganui. Standing 232m above sea level, the green mountain marks the entrance to Tauranga’s harbour and port.
While the area is a great place to relax and have fun it is also a serious centre of commerce, with the bustling Port of
Tauranga the country’s largest export port. At the same time, the Bay of Plenty has a growing arts scene. On Tauranga’s water’s edge, children love clambering over the Hairy Maclary bronze sculptures – a story-book scene featuring the beloved characters from Tauranga author Dame Lynley Dodd’s famous children’s books. However, without doubt, the region is best known for its many stunning beaches that attract hordes of swimmers, sun bathers and surfers in summer. In fact, Mount Maunganui’s Main Beach has been crowned the ‘Best Beach in New Zealand’ by TripAdvisor, and ranks among the top 25 best beaches in the world. It’s not surprising that more and more international visitors are adding the Bay of Plenty to their holiday itineraries.
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LIFESTYLE
SUN, SAND AND WATER TwentyOne’s guide to the best swimming spots.
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SUMMER | 2017
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ith the mercury rising, Aussies flock to the water and we are blessed to have so many beautiful beaches and bays around the nation. Top up your esky and don’t forget to bring the sunscreen. Here are TwentyOne’s picks for the best swimming spots around the country.
Western Australia. It’s a naturally formed watering hole with luscious vegetation along the shore providing ample shade. Explore the local trails around the pool, and when it gets too hot, you can cool off with a dip.
SALMON HAUL BAY
The unique Wineglass Bay in the Freycinet National Park in Tasmania is a truly spectacular sight. It boasts a unique shape and stunning turquoise water, and many visitors come to go snorkelling, kayaking and bushwalking. There’s also plenty of native Australian wildlife around to see.
This beautiful and often quiet little bay is located in Cronulla, Sydney. Recline on the big rocks with a big book or spread your towels in the shade for a big picnic. Salmon Haul is a great place to go for a dip because there aren’t any waves knocking you about (unless there’s a boat in the water). However, the area is unpatrolled so make sure to keep a keen eye on the little ones. WHITEHAVEN BEACH Located in the Whitsundays, Whitehaven Beach is one of the most famous and most photographed beaches in Australia. Famous for its pure white silica sand (an extremely fine and pure form of sand) contrasted with the stunning blue of the water, the beach stretches over seven kilometres along the coast, so that there’s plenty of room for everyone. Swim, sail or snorkel, there’s plenty to do at this stunning beach. BARRUBUP POOL
WINEGLASS BAY
MAIN BEACH Main Beach is one of the main tourist attractions in Byron Bay. Being Australia’s most easterly point, it’s a great place to surf. Dotted around the beach town are also some great cafes and bars – perfect for getting yourself an after-swim bite. MISSION BAY Only a short distance from Auckland’s central business district, Mission Bay is a great beach to escape the hustle and bustle. Restaurants, bars, cafes and pubs are dotted on the beachfront, and its proximity to the city makes Mission Bay the perfect spot for an impromptu getaway on a sunny day.
If you’re a nature lover, you will love Barrup Pool just outside Nannup,
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LIFESTYLE
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SUMMER | 2017
SPOTLIGHT ON ALCHEMY TwentyOne visits one of Brisbane’s dining hotspots.
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lchemy Restaurant & Bar is located on the stunning Brisbane River. Helmed by award-winning chef Brad Jolly, the restaurant offers exquisite cuisine alongside spectacular views. TwentyOne spoke to the team at Alchemy to find out more about one of Brisbane’s finest restaurants. At Alchemy, the food philosophy is quite simple, and that is to allow the food to speak for itself. This is reflected in the way the food is prepared. “Finding the best produce and to work with it as little as possible. Sometimes the least touched meals are the best.” In terms of must-try’s and crowd favourites, Alchemy tells us that you
can’t go past the beef cheeks. “They have been on the menu from our previous restaurant and really came onto Alchemy by request of customers.” What makes Alchemy truly unique is its relaxed dining experience paired with its fantastic backdrop of the Story Bridge. The interior itself is striking, featuring hand-blown Murano glass chandeliers paired with the warmth of timber and stunning floor to ceiling windows. It’s an aura of “relaxed elegance” that the restaurant is known for, and its goal is to make all guests feel comfortable and at ease. Alchemy tells TwentyOne, “We are known for refined dining. Not fine dining.” With
summer
finally
here,
the
restaurant will also be offering a crop of new and tasty dishes. The warmer weather will bring cured dishes such as ceviche and carpaccio, and guests can also look forward to fresh grilled quail with Asian spices, handmade pasta with crumbed pork, white wine, peas and spring vegetables. Alchemy also offers an extensive selection of wine, unique cheese and caviar. Undoubtedly, there will be something for everyone at Alchemy this summer.
175 Eagle Street Brisbane City QLD 4000 (07) 3229 3175
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LIFESTYLE
TIME PREPERATION: 1hr 30mins SERVING SIZE: 4-6 INGREDIENTS: Caramelised chocolate pave: • • • • • •
245 wholemilk 165g white sugar 160g thickened cream 65g egg whites (at room temperature) 65g double cream 1tbsp vanilla extract
• • •
4.3g gold leaf gelatine 4tsp full dulce de leche 1/8tsp salt
Vanilla meringue shards: • 120g egg whites (at room temperature) • 60g caster sugar • 1 tsp vanilla extract • 1/8 tsp cream of tartar or a drop of lemon juice Sparkling mint lime granita: • 150mL sparkling water (cold) • Juice and zest of 2 large limes
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• •
95g white sugar A handful of fresh mint leaves
Caramelised white chocolate crumbs: • 200g Callebaut white chocolate callets • 1/4tsp salt Garnish: • Fresh baby mint leaves
SUMMER | 2017
CARAMELISED CHOCOLATE PAVE WITH SPARKLING MINT LIME GRANITA, VANILLA MERINGUE AND FRESH MINT MasterChef’s Michelle Lukman shares her sweet summer dessert. METHOD 1. Bloom gelatine. 2. In a small saucepan, cook together milk, vanilla and 35g sugar until the sugar dissolves. Add gelatine then strain into a clean bowl to cool. 3. Meanwhile make an Italian meringue. In a saucepan combine together the remaining sugar and 1/8 cup water. Bring the sugar syrup to 120 degrees. In the meantime, using an electric mixer or a hand mixer, whisk egg whites until frothy, then slowly stream in the sugar syrup. (Tip: make sure there’s no remaining liquid egg white at the bottom of the mixer when streaming the sugar syrup as this will curdle the egg whites). Whisk on high speed until the Italian meringue cools. 4. In a clean bowl, whisk both cream together until stiff peaks. 5. Add half of the milk mixture into the cream and whisk until there’s no lump left, then fold in the remaining milk mixture and meringue. Pour into any silicone mould of your choice then freeze for 4-6 hours until frozen. 6. Preheat oven to 100 degrees. To make the vanilla meringue shards, using an electric beater, whisk egg whites until soft peaks, then slowly add both sugar and cream of tartar and vanilla, whisk until stiff peaks. (Tip: tilt the bowl upside down, if nothing falls, then your meringue is done). Using an offset spatula, spread meringue thinly onto a tray lined with baking paper then bake
in the oven for 1 hour until crispy, let cool. 7. To make the sparkling lime granita, dissolve sugar with 95mL sparkling water in a saucepan. Combine lime juice, zest, and cooled sugar syrup together, then add remaining sparkling water. Pour into a flat tray then set aside in the freezer until frozen. Using a fork, scrape the surface of the frozen block until it resembles shaved ice. Chop fresh mints finely then add into the granita, set aside in the freezer. 8. To make the caramelised white chocolate, spread chocolate callets onto a tray lined with baking paper then bake in 180 degree oven for 10 minutes, crumbling them halfway through with a fork until they are golden brown all the way through, then set aside to cool. 9. To assemble, add 2 tbsp full of mint lime granita onto the centre of a smallmedium round white plate, then add caramelised chocolate pave in the centre above the granita. Sprinkle a teaspoon of caramelised white chocolate onto the pave, scatter a few baby mint leaves around the granita then place a shard of vanilla meringue next to the pave. Enjoy!
ABOUT MICHELLE LUKMAN Michelle Lukman was one of the youngest MasterChef Australia contestants of 2017. As a 19 year old with Indonesian background, she carried her cultural identity throughout MasterChef Australia by cooking variations of Indonesian sweet and savoury dishes, brought together from her childhood memories and what her grandmother taught her growing up. After wowing the judges with her dessert ‘Golden Ball’, she has received plenty of positive affirmation in wanting to become a pastry development chef, and is focusing on areas of creating modern conceptual desserts at the same time as studying Nutrition and Food Technology at RMIT University, Melbourne.
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PROPERTY
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SUMMER | 2017
INVESTING WITH ANOTHER PARTY Chris Gray shares his advice about this growing property investment trend.
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ith housing affordability in some Australian areas at an all-time low, home buyers and investors need to become more creative to enter the market. Purchasing a property with a relative, friend, colleague or a savvy investor can be a great solution to housing affordability, but there are some risks that you need to be aware of. One of the main benefits of investing with another party is the opportunity to pay a lower amount for a property. If you don’t have a large enough deposit, or simply aren’t in a financial position to service a hefty mortgage alone, investing with another party can allow you to get your foot on the property ladder sooner, instead of waiting to save the funds yourself, which could take years. Owning 50 per cent of a property is better than 100 per cent of nothing, and you can always sell the property and buy your own later down the track, or buy the other person out on the property in question. In addition, buying a property with another party can provide you with access to higher quality properties and better areas. If you only have a limited budget, you may be forced to buy in a suburb that’s out of town and not likely to grow quickly over the coming years. By buying with someone else, you’re likely to have a bigger budget to afford a much better home or investment. Finally, purchasing with another party can also give you access to skills and expertise that you may not have. Buying a property takes a deposit, income serviceability, knowledge of where to buy, time to look at multiple properties, existing relationships with agents to get better deals, negotiation skills and renovations skills or contacts. Not everyone has the time to research the market and develop these skills. Investing with another party who is skilled in property investment can save
you time and potentially help you secure a better investment. While investing with another party affords several advantages, it also presents some additional risk. If you buy a property 100 per cent in your name, you have full say over what’s done with it and whether it gets held or sold. You can choose to live in it or rent it out. When you invest with another party you may lose some of that control, and can face problems if you want to sell later down the track if they want to hold, or vice versa. If you’re thinking about investing with another party, one of the best ways to mitigate some of the risk involved is to make your agreement legal. Even if you’re investing with a family member, have a solicitor draw up a legal agreement detailing how the deal is going to work, both parties’ obligations, who is going to manage things ongoing and how the expenses and profits will be split. Work out what will happen in the worse-case scenario (i.e. you have a fallout with each other). This can save you a lot of time and money later down the track. It’s also important to be aware of the terms of your loan so as not to limit your serviceability for future deals. You might think you only owe $250,000 when you buy a $500,000 property 50/50 with someone else, but in the banks mind you both owe $500,000 as you might wear the full debt if the other person disappears. It’s advisable to use a good mortgage broker who understands your goals as they will be able to find the best finance solution to suit your needs. Provided you buy with someone who has similar goals and is trustworthy, investing with another party can be a beneficial way to set foot on the property ladder sooner, especially as prices continue to rise.
ABOUT CHRIS GRAY Chris Gray is one of Australia’s leading independent property experts, hosting “Your Property Empire” on Sky News Business Channel, and previously the Financial Judge on Channel 10’s The Renovators and the Property Expert on Channel 9’s MyHome TV. Chris’s knowledge comes from being a qualified accountant, mortgage broker and buyers agent, but more importantly from having personally invested in property from the age of 22 and having semi-retired from the age of 31. He is the founder and CEO of “Your Empire”, a specialist property buyers agency which builds property portfolios for time-poor people – searching, negotiating, renovating and managing property on their behalf, providing a unique insight into market conditions and buyer and seller sentiment. For more information or to download his latest book for free, visit www.yourempire.com.au
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PROPERTY
MULTIPLE OWNERS INCREASE DEPRECIATION
CLAIMS
Bradley Beer explains how split reports can help accelerate deductions.
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SUMMER | 2017
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n increase in BMT Tax Depreciation Schedules for more than one owner suggests coownership is becoming an increasingly popular trend.
In a situation where ownership is split 50:50, by calculating an owner’s interest in each asset first, the owners will qualify to pool assets which cost less than $2,000 in total to the low-value pool.
Owning a property with others can provide improved purchasing power. This can be particularly useful in capital cities where it can be difficult to break into the property market.
Distributing the value of assets based upon the percentage of ownership first will increase the number of assets which investors are eligible to claim an immediate write-off or low-value pooling for. As a result, the rate at which depreciation deductions can be applied will be accelerated and the owners will receive increased deductions in the earlier years of ownership.
It can also balance out the expenses of owning an investment property including ongoing repairs, maintenance and fees. Additionally, co-ownership can provide improved depreciation deductions, allowing more items to be depreciated at a higher rate. This is where a BMT Tax Depreciation split report can assist. HOW DOES A SPLIT REPORT WORK? A split report calculates depreciation deductions based on each owner’s percentage of ownership for each asset. This involves splitting the value of the assets based upon each owner’s interest in the assets before applying depreciation rules. In a scenario where there is just one owner, legislation* allows property investors to claim an immediate writeoff for assets with an opening value of $300 or less. However, when an investment property is co-owned by two parties with a 50:50 ownership share, a split report allows the owners to each claim an immediate write-off for items where their interest in the asset is below $300. This means the owners can claim an instant write-off for items which are less than $600 in total value. The same method can be used when applying low-value pooling. Where an owner’s interest in an asset is less than $1,000, these items will qualify to be placed in a low-value pool. This means they can be claimed at an increased rate of 18.75 per cent in the first year regardless of the number of days owned and 37.5 per cent from the second year onwards.
BMT’s split reports simplify this process and allow owners to get more from their investment. Each split report can also be provided in CSV format for easy importing into accounting software. There is an option for owners who prefer a depreciation schedule without any split applied should this be required. * Under new legislation outlined in the Treasury Laws Amendment (Housing Tax Integrity) Bill 2017 passed by Parliament on 15th November 2017, investors who exchange contracts on a second-hand residential property after 7:30pm on 9th May 2017 will no longer be able to claim depreciation on previously used plant and equipment assets. Investors can claim deductions on plant and equipment assets they purchase and directly incur the expense for. Investors who purchased prior to this date and those who purchase a brand new property will still be able to claim depreciation as they were previously. To learn more visit www.bmtqs.com.au/budget-2017 or read BMT’s comprehensive White Paper document at www.bmtqs.com.au/2017budget-whitepaper Article provided Depreciation.
by
BMT
Tax
Bradley Beer (B. Con. Mgt, AAIQS, MRICS, AVAA) is the Chief Executive Officer of BMT Tax Depreciation. Please contact 1300 728 726 or visit www.bmtqs.com.au for an Australiawide service.
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PROPERTY
NEW YEAR’S EVE PROOF YOUR INVESTMENT PROPERTY Why investors should be preparing for the silly season.
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SUMMER | 2017
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ew Year’s Eve rental property parties can leave an expensive financial hangover and be a source of stress for unsuspecting landlords.
ENFORCE LEASE AGREEMENT
Australia’s leading landlord insurance provider Terri Scheer Insurance has warned while tenants should be responsible for the rental property, invited party guests, who often have no attachment to the property, may not treat it with the same respect as they would their own home.
“A rental agreement may allow landlords to enforce noise restrictions, such as no loud music after 10pm, and a maximum number of guests at the property at any one time.
“Setting the ground rules upfront and in writing can help avoid future headaches,” Ms Parrella said.
“New Year’s Eve parties that get out of hand can leave landlords susceptible to costly damage and clean up bills, but it doesn’t have to be that way,” said Carolyn Parrella, Terri Scheer Insurance Executive Manager.
“It’s a common oversight by landlords not to use the formal rental contract as a way to outline a tenant’s responsibilities. This can help prevent the likelihood of parties and trouble arising on New Year’s Eve. As the holiday season approaches, it’s also an opportunity to remind tenants of their obligation set out in the rental agreement.”
Ms Parrella has offered the following steps to help landlords “New Year’s Eve proof ” their properties.
MAINTAIN RELATIONSHIPS AND COMMUNICATION
SCREEN TENANTS
“Maintaining a positive, open and transparent relationship with tenants will help put landlords in good stead ahead of New Year’s Eve festivities,” Ms Parrella said.
“Prevention is often better than the cure,” Ms Parrella said. “Tenants are entitled to enjoy their time at the property however it must be done with respect and consideration for the landlord. “Including lifestyle questions on the lease application can help to identify and minimise future issues. Does the applicant have regular visitors or guests? What type of activities will be undertaken at the rental property? Landlords can use such questions to help filter potentially troublesome tenants. “Renter history checks can also identify any past issues of accidental damage that may be attributed to out-of-control partying.”
“Responding quickly to queries and concerns can help build a good rapport with tenants, making them more inclined to treat the property as though it were their own.” CONDUCT PROPERTY INSPECTIONS
indications of a tenant that may fail to fulfil their rental agreement obligations if accidental or malicious damage is identified. Likewise, post-New Year’s Eve inspections can help identify any accidental damage incurred during the holiday season. “This also shows the tenant that the landlord has an active interest in the care taken with their property and helps reinforce the conditions under which the tenant has leased the property.” REVIEW INSURANCE COVERAGE “The holiday season is a time that can carry a heightened risk of accidental damage to investment properties, making a specialised landlord insurance policy all the more important,” Ms Parrella said. “Too often property investors overlook risk management until after a tenant has moved in or when something has gone wrong. “Maintaining a specialised landlord insurance policy can protect investors from the many risks associated with owning a rental property and provide peace of mind if the unforeseen should occur, such as malicious and accidental damage, loss of rental income and potential legal liability if someone is injured at the property.”
“Property inspections should be nonnegotiable and should be scheduled both before and after the holiday season,” Ms Parrella said. “Regular inspections can provide early
Disclaimer: The information contained in this article is intended to be of a general nature only. Terri Scheer does not accept any legal responsibility for any loss incurred as a result of reliance upon it. Insurance issued by Vero Insurance. Read the Product Disclosure Statement before buying this insurance and consider whether it is right for you. Contact Terri Scheer on 1800 804 016 or visit our website at www.terrischeer.com.au for a copy.
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LIFESTYLE
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SUMMER | 2017
SUMMER WATER WORKOUTS Get fit this summer with TwentyOne’s favourite aquatic workouts.
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ustralia and New Zealand are blessed with gorgeous sandy beaches and beautiful hidden bays across the country. So why not make the most of what you’ve got and take your fitness regime outdoors this summer? Here’s TwentyOne’s guide to exercising in the water. The best place to do these exercises is in a bay, or somewhere where the waters are calm and you won’t have waves crashing down on you. Working out in the water has many benefits – it’s easier on your muscles and joints which won’t result in the kind of soreness you get from running or training on the ground. The water also has that extra resistance which acts like a weight-training mechanism to help you strengthen and tone your muscles.
as if you’re doing an obstacle course and stepping in the tires. You can run forward with this exercise, but make sure you are doing it across a flat surface. SQUAT JUMPS Start with your feet in a wide stance making sure that they are further out than your hips. Squat down, and then propel yourself out of the water with a big jump. The deeper you squat, the better the workout for your glutes and other muscles. SPEED BAG Tread water with your legs while you start pommelling an imaginary punching bag. This is a great workout for both your arms and legs, especially with the added resistance of the water.
JOGGING ON THE SPOT
OTTER ROLL
Jogging on the spot is an easy way to warm up. Keep your knees high and body upright. This exercise is also a great way to help sooth sports injuries.
This one will require a beach ball or something similarly shaped. Hold the beach ball to your chest while you float on your back. Keep your legs extended with your feet together. Roll towards the left over the top of the ball, taking your whole body with you so that you make a full revolution. Do it on the right side, and repeat. This is a great workout for the core, shoulders, legs and back.
TIRE RUNS If you’re ready for more of a challenge you can move on to tire runs. Keep your stance wide and run with high knees
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TECHNOLOGY
TECH ESSENTIALS Check out some of this season’s latest gadgets.
EPSON MOVERIO BT-300 SMARTGLASSES Epson Australia has launched the third generation of its Moverio® smartglasses for augmented reality. The Moverio BT300 features Epson’s breakthrough siliconbased OLED (organic light emitting diode) digital display technology, enabling truly transparent mobile augmented reality (AR) experiences for consumers, government and business. The Moverio BT-300 are also the lightest binocular see-though smartglasses announced to date. RRP: $1,199 AUD
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SUMMER | 2017
KYOCERA ECOSYS M6535CIDN This high powered printer prints at 35 pages per minute in both colour and black and white. It features a 7-inch colour touch screen panel and a standard 1GB memory. The printer can copy, print, scan and fax and also has a connection to the Kyocera Cloud Connect. The printer is perfect for at-home use and will easily accommodate the needs of a small business. The option to lease is also available via Kyocera. RRP: $2,024 AUD
FUJIFILM X-PRO2 Taking performance to new heights, the FUJIFILM X-Pro2 offers the world’s only Hybrid Multi Viewfinder capable of instantly switching between optical and electronic finders, plus an updated image sensor and processor, which dramatically improves image quality. By combining these features with the ultrahigh image quality of FUJINON X-Mount lenses and the colour reproduction technology accumulated through more than 80 years as a photographic film manufacturer, the FUJIFILM X-Pro2 delivers the best ever results from an X-series camera. RRP: from $2699 AUD
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TECHNOLOGY
APP REVIEW TwentyOne tests some great apps to get out and about.
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SUMMER | 2017
The silly season means plenty of great events and activities being held around the country, and plenty to keep us occupied. So what’s the best way to find out what’s happening around you? TwentyOne has scoured some of the best social apps to help find fun new things to do in your city. SONGKICK
MEETUP
EVENTBRITE
Calling all music lovers, this is the perfect app for you! Songkick helps you to find gigs in your city. It also has a feature which can link to music apps such as Apple Music, Spotify and Facebook to alert you when the artists you listen to are in town. Aside from tracking artists, the app gives you plenty of information about upcoming concerts and tour dates and can also help you set reminders to buy tickets. Songkick also makes it easy for you to discover new bands and concert recommendations based on your listening habits.
Ever wanted to try pottery or weaving or white water rafting? Find like-minded people to try new things on Meetup. From book clubs, “solopreneur” coffee catch ups to walking trips for over 45’s, there’s truly something for everyone. Not only can you find something that interests you, you can also create your own meetup to network and meet new friends with similar interests. The idea is that you get to exchange ideas, as well as help and support others in similar pursuits. If you want to expand your circle and enjoy activities you love, Meetup is the perfect place to start.
Discover popular local events with EventBrite. From concerts, festivals, classes to conferences, EventBrite will make sure you’re never bored this summer. You can find plenty of event information and add purchased tickets to your iPhone Passbook so you can go completely paper-free. The app also gives you tailored recommendations based on your tastes, and also allows you to see the events your friends are attending.
Cost: FREE
Cost: FREE
Cost: FREE
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PROPERTY
THE REAL ESTATE NETWORK
RATED NUMBER ONE BY CUSTOMERS
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FIED CU
REAL ESTATE SMALL BUSINESS - 2015
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