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FEATURED PROPERTY 100 Old Gembrook Road, Pakenham Upper
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FIRST NATIONAL NEILSON PARTNERS SHINE AT THE NATIONAL CONVENTION
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RENOVATING RENTAL PROPERTY - RETURN ON INVESTMENT
25 LEASED IN MAY Leasing Statistics For May 2024
Capturing the serenity, privacy and essence of luxury living this exceptional elevated property with sweeping valley views is set on approx. 5 acres with post and rail fencing and a grand circular driveway lined with flowering Camelias, hedges and Ornamental Pear trees.
Fall in love with the huge gourmet country kitchen, large butler’s pantry and dining area with north westerly views over the surrounding hills.
For the cooler months snuggle up in front of the wood fire heater in the living room
and for those warmer days the undercover alfresco entertaining deck, backyard lawn and inground swimming pool will have you covered.
Your guests will be in awe of your expansive American style Man Cave with built in picnic seating, beer tap, beer keg fridge, toilet, games area and split system air conditioning.
Don’t forget the large adjoining mechanic workshop with built in hoist for car enthusiasts, and plenty of space to park your boat, caravan or vintage cars.
100 GEMBROOK ROAD, PAKENHAM UPPER is a grand family home with four generous bedrooms, walk-in robe and ensuite with double vanity and double sized shower to the master, double garage with internal access, theatre room, plantation shutters, solar panels and 3 water tanks holding 90,000 litres of water.
Just a short drive to schools, shops and the Dandenong Ranges, your private oasis awaits. If you’re dreaming of luxury lifestyle living, 100 Gembrook Road, Pakenham Upper ticks all the boxes!
First National Neilson Partners are savouring their success at the National Convention currently taking place in Kuala Lumpur, Malaysia.
The First National Network held their national General Excellence and Marketing Awards last month at the Grand Hyatt, where our team attended the black-tie dinner along with 380 further delegates from Australia, New Zealand, and Vanuatu.
After a challenging 2023 for real estate, culminating in 13 interest rate rises and a rental crisis, the top 2023 salespeople, property managers and administrators were recognised and celebrated with awards for their real estate excellence. Our team was among them.
The team at First National Neilson Partners were recognised for a number of awards with special mention going to Neilson Partners Commercial, with Shannon Hynd, our Commercial Department Manager, named National Commercial Investor Relations Manager of the Year for the second year running, and Flynn McKenna, awarded the Commercial New Investor Relations Manager of the Year.
Off the back of a sensational 2022 when Lily Young was awarded National Business Development Manager of the Year, she followed up and was named in the Magnificent 7 (Top 7) Business Development Managers of the Year for 2023. Office awards went to First National Real Estate Neilson Partners Berwick for #1 Lifestyle Sales and First National Real Estate Neilson Partners Narre Warren Property Management team for bringing home #1 Highest Gain of Properties Under Management!
“Congratulations to our award winners”, said Todd McKenna, Managing Director at Neilson Partners.
“A sensational effort and well-deserved by our hard-working recipients.”
“Mention must also be given to the efforts of the entire Neilson Partners team who are continuously working together to ensure the success of the company”, said Todd. “Without the combined efforts of everyone, these milestones would not be possible.”
Rob Westwood, National Chairman, said that it was “incredible to witness the enthusiasm of the network.”
“To see everyone in Kuala Lumpur for our National Convention as well as celebrating the networks collective success is always uplifting.”
solutions for all of your storage needs...
• Ranging in size from 4sqm to 34sqm
• Competitive rates
• Short or long term lease
• Modern, clean units
• 24 Hour video surveillance
• Easy access
In our competitive rental markets, our rental providers are constantly seeking ways to maximise return on investment (ROI) while minimising vacancy periods. This is where First National Real Estate Neilson Partners expertise really comes to the fore.
Strategic renovations can significantly enhance your property’s appeal, leading to higher rental yields and reduced time on the market. However, it’s crucial to balance the extent of renovations with the potential for increased rent and occupancy rates. This article explores how rental providers can achieve this balance, ensuring their investment delivers the best possible return.
Before embarking on any renovation project, it’s essential to understand the local rental market. Research current trends, renter preferences, and the average rental rates for renovated versus unrenovated properties in your area. This information will guide your renovation decisions, helping you to prioritise updates that are most likely to increase your property’s desirability and value.
Not all renovations need to be extensive or expensive to create a positive impact. Focus on cost-effective updates that improve the property’s aesthetics and functionality. A fresh coat of paint, updated lighting fixtures, and modern window treatments can transform a space without breaking the bank. Similarly, upgrading kitchen appliances or refreshing bathroom fixtures can significantly appeal to potential renters.
Energy-efficient renovations are increasingly attractive to renters conscious of their carbon footprint and utility bills. Installing solar panels, double-glazed windows, or efficient heating and cooling systems can make your property stand out. These improvements not only contribute to a more sustainable environment but also can reduce long-term operating costs, enhancing your ROI.
In both Australian and New Zealand markets, renters value space and functionality. Consider renovations that maximise the use of space, such as open plan living areas, built-in storage, or outdoor living expansions. These modifications can make your property more appealing to a broader range of applicants, potentially justifying a higher rental price.
Regular maintenance and addressing wear and tear promptly can prevent minor issues from becoming major problems. This approach keeps the property in good condition, reducing the need for extensive renovations in the long run. Furthermore, well-maintained properties are more likely to attract and retain responsible renters, reducing vacancy rates.
Timing is critical when renovating rental properties. Plan renovations during vacancy periods or between lease agreements to minimise income loss. However, if renovations are likely to significantly increase rental income or property value, a short vacancy period can be a worthwhile investment.
If renovations are undertaken with renters in place, clear communication is vital. Inform them of the renovation schedule, potential disruptions, and any benefits they may experience. Consider offering temporary rent reductions or other compensations for the inconvenience. Happy renters are more likely to stay long-term, contributing to lower vacancy rates.
OFFICER 23 IXIA STREET $670PW
OFFICER 224 PINK HILL BOULEVARD $620PW
/ 2 / 2
4 / 2 / 2 NARRE WARREN 17 CANTERBURY CLOSE $600PW 3 / 2 / 2
SOUTH 55 ENCORE BOULEVARD $550PW 3 / 2 / 2
0.19%
19,837 313
AVERAGE VACANCY RATE ONLINE VIEWS APPLICATIONS RECEIVED
CRANBOURNE
