Talking Property Management

Ever wondered what's brewing behind the closed doors of property management legislation? Fasten your seatbelts as Samantha Eason, a well-versed principal and property investment specialist, leads us through the complex labyrinth of government interventions in the rental market. Premier Stephen Miles's recent social media musings on rent bidding and a real estate code of conduct have sparked a firestorm of debate, and Samantha doesn't shy away from sharing her unfiltered take. From the nitty-gritty of property management training to the ripple effects of legislative blunders on both property owners and tenants, she lays it bare. This episode peels back the layers of responsibility and strategy that come with property investment, leaving no stone unturned in evaluating the government's missteps and the pivotal role of the Office of Fair Trading and REIQ.Samantha Eason doesn't just stop at critique—she brings to the table a wealth of knowledge on building a bulletproof property management strategy. If you've ever questioned the value of a top-tier property management team, Samantha's insights will illuminate just how integral they are to the prosperity of an investor's portfolio. Just as you'd trust a banker or broker with your finances, a property management team requires that same level of confidence and strategy to thrive. Samantha forecasts the legislative hurdles on the horizon but stands ready with her expert hat on to guide both seasoned and novice investors through the property investment terrain. When the path gets thorny, remember, expertise like Samantha's is your best compass. If you have any questions or scenarios you would like us to discuss on an upcoming episode, please email samantha.eason@exclusivelymanaged.com.au or visit https://www.exclusivelymanaged.com.au/

Ever found yourself in a property management pickle? Get ready to gather vital insights from my recent experience that will prevent you from falling into similar traps while enhancing your property's potential. As the owner of Exclusively Managed, I've seen it all, and this episode unravels how our team turned a disaster project into an appealing investment property.Brace yourself for a fascinating account of how we conquered a challenging situation, where another agency’s negligence led to substandard work, causing a potential health risk for tenants. From dealing with mold issues to poor tiling, join me as I walk you through our process of coordinating with contractors to fix the mess urgently. Let's explore the art of renovating properties, striking a balance between timeless and minimal aesthetics that don’t drain your wallet. Experience an exciting world of property management and renovations that'll ignite your interest and enrich your knowledge.https://www.exclusivelymanaged.com.au/enhanced/ If you have any questions or scenarios you would like us to discuss on an upcoming episode, please email samantha.eason@exclusivelymanaged.com.au or visit https://www.exclusivelymanaged.com.au/

This is a little tester I put out for our online community, if I was a green newbie property manager, and I had this situation arise, would I receive the correct information?Well, I did and I didn't, have a listen.  If you have any questions or scenarios you would like us to discuss on an upcoming episode, please email samantha.eason@exclusivelymanaged.com.au or visit https://www.exclusivelymanaged.com.au/

This is possibly the worst change in legalisation we have seen to date, and it affects everyone!Rent cannot be increased during a fixed term unless it is stated in the tenancy agreement and all of the following occurs:the agreement states the rent will be increasedthe agreement states the new amount (or how it will be worked out)the property manager/owner gives the tenant at least two months' notice in writing for a general tenancy and four weeks’ notice for a rooming accommodation agreement, andit has been at least 12 months since the tenancy started or since the last increase.What do you do when your tenant is more than happy to pay the increased rent and stay in their home? If you have any questions or scenarios you would like us to discuss on an upcoming episode, please email samantha.eason@exclusivelymanaged.com.au or visit https://www.exclusivelymanaged.com.au/

This is going to be very easy for any investor to fall into this trap! There are companies now offering real estate agencies / property managers their un-licensed staff to attend your investment property and report on anything that may be unsafe or not meeting legalisation. DO NOT FALL FOR THIS TRICK! If you have any questions or scenarios you would like us to discuss on an upcoming episode, please email samantha.eason@exclusivelymanaged.com.au or visit https://www.exclusivelymanaged.com.au/

Would you work 5 months for $800? No, but the agency down the road will!Money has driven agencies since time began, realestate agencies have always been focused on the income, the growth, the sales, the percentages.  If you have any questions or scenarios you would like us to discuss on an upcoming episode, please email samantha.eason@exclusivelymanaged.com.au or visit https://www.exclusivelymanaged.com.au/

Why do all business development managers say the same thing? They are still using scripts from 5+ years ago! Why haven't they evolved yet?Secrets within the franchises - I am kidding! No secrets here, but only what issues we have come across when dealing with a larger agency! If you have any questions or scenarios you would like us to discuss on an upcoming episode, please email samantha.eason@exclusivelymanaged.com.au or visit https://www.exclusivelymanaged.com.au/

Actually a few nightmare's.I can go into detail for some more horror stories within the beautiful and wonderful role of a Property Manager, but right now, heres a snippet of a few.  If you have any questions or scenarios you would like us to discuss on an upcoming episode, please email samantha.eason@exclusivelymanaged.com.au or visit https://www.exclusivelymanaged.com.au/

Short Episode - Don't Forget to say THANK YOU to your property manager today! If you have any questions or scenarios you would like us to discuss on an upcoming episode, please email samantha.eason@exclusivelymanaged.com.au or visit https://www.exclusivelymanaged.com.au/

Lower fees = lower service. You make the decision on what your property is worth.https://www.realestatebusiness.com.au/tech/26050-administrators-appointed-at-real-estate-disruptor?utm_source=RealEstateBusiness&utm_campaign=30_06_2023&utm_medium=email&utm_content=1&utm_emailID=9abab4cc5de58be6e6bcdf915010a207b054039c56696ad116a6bf5e659d46b6Article Reading with Samantha Eason: An Australian proptech company has been revealed as facing serious challenges and has gone into voluntary administration.In an Australian Securities & Investments Commission (ASIC) notice published 29 June 2023, it was revealed that administrators from KPMG had been appointed to Different Technologies Pty Ltd., better known as :Different, under section 436A of the Corporations Act 2001.That section spells out that a company may appoint an administrator/s if the board “thinks it is or will become insolvent.” If you have any questions or scenarios you would like us to discuss on an upcoming episode, please email samantha.eason@exclusivelymanaged.com.au or visit https://www.exclusivelymanaged.com.au/

Besides not leasing quickly if your property is overpriced, there are no guarantees that it will lease for what it should, if you price it appropriately from the beginning.It is imperative that you reconcile what your home means to you and what you envision it to be with the reality of the current housing market. If you have any questions or scenarios you would like us to discuss on an upcoming episode, please email samantha.eason@exclusivelymanaged.com.au or visit https://www.exclusivelymanaged.com.au/

Are you an investor with the fear of making the wrong choice?It's normal that no one wants to part with a large amount of money to end up with a poor result. Listen to our latest episode with Sarah Larsen - 0407 110 431 to discuss clients normal and irrational fears when it comes to property investing. If you have any questions or scenarios you would like us to discuss on an upcoming episode, please email samantha.eason@exclusivelymanaged.com.au or visit https://www.exclusivelymanaged.com.au/

Read the outrageous email a real estate agent accidentally sent a tenant instead of landlord - and the ridiculous reason they wanted to nearly DOUBLE the rent!'You'll recall the discussions I had with you earlier in the year about the 'high maintenance' nature of this particular tenant,' the real estate agent wrote.'Out of all the properties I manage he has the most maintenance requests and occupies of the most of my (and therefore your) time. On one occasion (the aircon) he called every day for two weeks. The receptions are sick of him.''In order to play this smooth you should offer to renew the lease but with an exorbitant increase.'Real Estate Agents who do this need to be removed from the industry, they have no idea the impact they have on the overall market, and how disheartening and dishonest their actions are. If you have any questions or scenarios you would like us to discuss on an upcoming episode, please email samantha.eason@exclusivelymanaged.com.au or visit https://www.exclusivelymanaged.com.au/

Samantha Eason was very fortunate to be featured in this article with ABC News written by Maani Truuhttps://www.abc.net.au/news/2023-05-23/behind-the-scenes-of-rent-increases/102329918In some cases, Eason says, delays in repairs stem from the property manager's lack of training, like knowing whether it's more economical to order a repair or replacement of an appliance the moment a request is lodged."If a dishwasher is older than eight years, I recommend straight away to replace it … if it's a four-year-old dishwasher, you send a trade," she says. Being able to communicate clearly with the owner about the best course of action speeds up the process, she says, because it cuts out unnecessary visits from tradespeople."You cannot tell me that someone who is 18 years old, who has just got their [real estate agent] certificate, has any understanding of how the oven, fans, fireplaces, pools, anything works … unless they've got hands-on experience."She believes this is becoming a bigger problem as experienced agents abandon the industry in droves. Research conducted by tech company MRI Software last year found almost a quarter of property managers planned to leave the industry, with 60 per cent citing aggressive or abusive landlords or tenants as the biggest challenges. If you have any questions or scenarios you would like us to discuss on an upcoming episode, please email samantha.eason@exclusivelymanaged.com.au or visit https://www.exclusivelymanaged.com.au/

Rent bidding with Exclusively Managed is a no go zone.A rental property must be advertised at a fixed price - failing to do so is an offence. The property manager/owner does not have to display the price on a ‘for rent’ sign at the property, but any other advertisement must include a fixed price. A property manager/owner must also not: advertise a property with a rent range (e.g. between $500-$600 a week) put a property up for rent auction proactively tell rental applicants to offer over the advertised rental price and encourage them to outbid each other.  A prospective tenant can proactively offer more than the advertised rental amount and the property manager/owner may accept their offer.  A prospective tenant can also offer to pay rent in advance and the property manager/owner can accept this. The maximum rent in advance a property manager/owner can ask for from a tenant is two weeks for a periodic agreement, or one month for a fixed-term agreement.   If you have any questions or scenarios you would like us to discuss on an upcoming episode, please email samantha.eason@exclusivelymanaged.com.au or visit https://www.exclusivelymanaged.com.au/

So many property investors want better fees, and they want that with better service, but you can't have your cake and eat it too! If you have any questions or scenarios you would like us to discuss on an upcoming episode, please email samantha.eason@exclusivelymanaged.com.au or visit https://www.exclusivelymanaged.com.au/

The government has once again, taken away another option from investors, which will only INCREASE rental prices.Lets look at the Stage 2 Rental Law ReformsTHEY want to hear what is important to Queensland renters, rental property owners and managers, and all Queenslanders to improve rental experiences across five key legislative reform priorities to inform the development of Stage 2 Rental Law Reform.They've developed an Options Paper to seek feedback on policy options to change Queensland's rental laws and identify their impacts.The 5 key legislative reform priorities included in the Options Paper are:installing modificationsmaking personalisation changesbalancing privacy and accessimproving the rental bond processfairer fees and charges.Read the options paper (PDF, 843.23 KB)You can have your say until 29 May 2023 by:taking an online surveymaking a written submission responding to the consultation questions in the Options Paper and providing any other feedback by uploading your submission, email to rentinginqld@chde.qld.gov.au, or by post to:Renting in QueenslandHousing and Homelessness ServicesDepartment of Communities, Housing and Digital EconomyPO Box 690BRISBANE QLD 4001To give your feedback and for more information, visit qld.gov.au/rentinginqld or call 13 QGOV (13 74 68).Submissions close 5pm on Monday, 29 May 2023. If you have any questions or scenarios you would like us to discuss on an upcoming episode, please email samantha.eason@exclusivelymanaged.com.au or visit https://www.exclusivelymanaged.com.au/

But do they walk the same walk?What an agency says on their 'About Us' section, is always nearly the same as another.In this episode we see what 3 different agencies say, and how similar they are to each other and the agency 'processes'. If you have any questions or scenarios you would like us to discuss on an upcoming episode, please email samantha.eason@exclusivelymanaged.com.au or visit https://www.exclusivelymanaged.com.au/

What is in a vacate inspection?  What do you take photo's of?  What do you look for?I have probably completed a thousand of these in my career and I have learnt something from each one. But one of the most important things that I have learnt, is that you do not focus just on the tenancy that is ending and I'll explain in this podcast why. If you have any questions or scenarios you would like us to discuss on an upcoming episode, please email samantha.eason@exclusivelymanaged.com.au or visit https://www.exclusivelymanaged.com.au/

I can tell you from experience, not all property managers are the same, and we aren't trained or skilled in the same way. So whether you are focusing your investment on overall growth, or yield, you need to decide who is on your team, and who will help you achieve the financial success you want, and while you are doing that, see if you can find out if you have a property manager, or an investment specialist.Because one could cost you thousands in mistakes, or misguiding you, and one could make you thousands. Our Experts?- Samantha Eason - Exclusively Managed - https://www.exclusivelymanaged.com.au/- Oliver Jackson - Living Property - https://www.livingproperty.com.au/- James Missailidis - Alecto Finance - https://www.alectofinance.com/ If you have any questions or scenarios you would like us to discuss on an upcoming episode, please email samantha.eason@exclusivelymanaged.com.au or visit https://www.exclusivelymanaged.com.au/