PROPERTY MANAGEMENT NEWSLETTER The year is coming come to a close .
RESIDENTIAL TENANCIES ACT REVIEW
2015 has been an exciting year in which we secured 95% of our tenants paying rent by
Our General Manager, Colin Rodgers has been elected to the position of Chair Person of the Property Management Chapter of the Real Estate Institute of NSW. 2016 will be a watershed year for the management of residential property in NSW with the Residential Tenancies Act being under review.
direct debit, rents increased on average by 3% and over 65% of tenants on a fixed term lease. Our arrears are at an industry best level
As Chair Person, Colin will be actively involved in the submissions to review The Act which will be put to The Minister in January 2016 then for further discussion and resolution during the year, Some of the sections of The Act that are under review are: •
Increasing the bond from the present four weeks rent
•
Having the ability to increase the bond as the rent increases
•
The imposition of a Pet Bond should an investor allow a tenant to keep at pet at the property
•
A reduction of the current 90 day notice period that an owner is required to give a tenant to vacate upon expiry of the fixed term
on
•
The ability to serve a termination notice should the tenant fall seven days in arrears in rent
increasing rents and reducing days on market
•
Tenant obligations in hindering the owner’s compliance obligations around smoke alarms, pool compliance and window lock compliance
•
The ability for a managing agent to list a defaulting tenant on a tenancy default database without the need of having a NCAT order to do so
•
That defaulting tenants are to remain on default databases for more than the present three years
•
The ability to serve notices upon the tenant electronically.
of under 4%. All of which are a benefit to maximising the returns for our investor clients. In 2016 our focus will be to continue to maximise the returns on your investment property
by
maintaining
our
focus
whilst properties are vacant and by minimising vacancies by tailoring lease terms so leases do not expire in the traditional low season months. During the Christmas/New Year period we will be only property management company in
Sutherland
Shire
open
and
trading
business as usual. We will continue to show prospective tenants properties, enter into leases, collect rents and will be accounting to you on 29 December 2015 so you will have your December rent proceeds transferred as normal. The Directors and the entire Property Management
Team
here
at
McGrath
Sutherland Shire wish you and your family a merry Christmas and happy and prosperous 2016.
December 2015
TEAM MEMBER PROFILE – Erin Fletcher Personable, approachable and committed to providing a six star service, Erin Fletcher is a well-respected property manager with McGrath Cronulla. A life long resident of an area she loves for its laid back lifestyle and iconic beaches, Erin specialises in the Cronulla, Caringbah, Miranda and Menai. Combining a thorough understanding of the rental market with exceptional customer service skills, clients can expect a commutative approach and comprehensive advice enabling them to maximise the value of their property assets, while achieving outstanding results with peace of mind. A natural rapport builder, Erin enjoys the interaction with both tenants and landlords and believes in maintaining a harmonious relationship with both. Her warm and engaging manner, coupled with her innate ability to simplify and solve a problem, ensures Erin resolves any issues promptly and with minimal fuss. Erin is proud to be representing a premium brand with excellence, integrity and professionalism.
Investment properties for sale
Cronulla
For Sale
4/4 Giddings Avenue $1,350,000
Gymea
For Sale
24A Ultimo Street Price on request
McGrath Sutherland Shire 8536 3444 | mcgrath.com.au
$788,000
SOLD
$860,000
19/71 Ewos Parade Cronulla
For Sale
177 Burraneer Bay Road Price on request
Caringbah South
SOLD 3/168 The Boulevarde Miranda
28 North West Arm Road Price on request
Caringbah South
Recent Sales
SOLD
$861,000
51 Forest Road Heathcote
For Sale
SOLD 5/21 Arthur Avenue Cronulla
$800,050