Toddler drownings, the unfortunate truth

April 13, 2012 Leave a comment

Each year, toddlers continue to drown in backyard pools so safety must always be a First National property manager’s primary concern.

The unfortunate truth is that drowning can happen at any property if appropriate precautions aren’t taken. Royal Life Saving – the national body for water safety in Australia – campaigns hard to get all households to check their pools to ensure safety. They also send the message to local councils that pools need to be checked to ensure compliance with safety standards.

There’s no doubt, with the degree of public distress at each drowning, backyard checks and adherence to the Australian standards for pool safety will become a bigger issue over time.

Where a rental property has a pool, the managing agent holds some responsibility for the safety of the pool and the tenants. Obviously property managers cannot ensure toddler supervision, or that tenants don’t prop the pool gate open, so keeping pool safety top-of-mind is crucial.

However, agents do bear responsibility for ensuring the tenant is informed about pool safety and supervision, and that the pool surroundings and equipment meet minimum standards.

First National encourages Landlords to talk to its Property Managers, to make sure they understand the requirements and their legal responsibilities when they own and investment property with a swimming pool.

We also talk to our tenants, ensuring they understand their responsibilities with their pool. We provide clear documentation concerning what they are expected to do and what the safety requirements are.

Our property managers also regularly turn to pool professionals, such as PoolWerx, to ensure they’re fully aware of changing Australian safety standards. We recommend Poolwerx to all consumers as they can quickly let you know if your pool doesn’t meet the necessary safety criteria.

Taking action to ensure your pool is safe is vital to reducing the risk of a tragedy. By taking action today to ensure your pool is well maintained and safe, you are actively helping to reduce the incidence of drownings.

Visit www.homepoolsafety.com.au for further information and checklists or contact at First National property manager for advice.

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Faulty gas appliances can kill

April 12, 2012 2 Comments

In March 2011, a private member’s bill to protect against carbon monoxide poisoning was passed in Federal Parliament after two young boys in country Victoria died from carbon monoxide poisoning.

The new regulations will come into force mid to late 2012, when legislation in all states and territories complies with the new laws. However, Landlords need to be aware they are still liable, irrespective of when the new laws take effect, as they already have a duty of care to the tenant and should ensure gas appliances are repaired in a timely manner.

First National strongly recommends that Landlords start to consider their compliance strategy to ensure tenants are not exposed to faulty appliances, nor themselves to potential negligence and/or litigation.

What is Carbon Monoxide?

Carbon Monoxide is unlike smoke and is a highly poisonous gas produced when any fossil fuel burns incompletely. It has no smell, taste or colour and is therefore very difficult to detect with human senses. The first warning symptoms that Carbon Monoxide is present in the air are usually headaches and nausea. It can leak from flues, or cooking and heating appliances when they have been poorly maintained, or when they simply break down.

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Online scammers, a real threat for renters

April 10, 2012 Leave a comment

Media Release – 10 April 2012

First National Real Estate says the web was a great place to find rental properties or student accommodation, but warns renters to watch out for online scammers.

“Prospective tenants keen to find accommodation in the current tight rental market are increasingly being targeted by dishonest people seeking to take advantage of their circumstances,” First National Real Estate CEO, Mr Ray Ellis, said.

“Rents are escalating, vacancy rates are low and many people who rent often are forced to do so, either because they are still studying or are simply unable to afford to purchase a property outright.

“This makes it especially disconcerting that they would fall prey to greedy scammers who want to feed off others like parasites.”

There are a number of common scams in the market according to First National, but they can easily be avoided.

“Scammers pose as landlords using community websites and say you can’t meet with them to view the property for various reasons. Often they say they are overseas, then demand a payment to secure the keys to inspect a rental property that is always underpriced and seems too good to be true, which usually means it is,” Mr Ellis said.

“They ask that the money be sent via money transfer, even though you have yet to set eyes on the property in person, let alone view or inspect it.

“Once the money is sent out of Australia by wire transfer, it’s gone and so is the property and the scammer.”

Mr Ellis said there were some simple rules to follow to avoid being taken advantage of, the first one being to use the services of a reputable third party such as a real estate agency.

“Going through an agency means you are dealing directly with the landlord’s official representative. If you can’t rent from a real estate agency and must deal with the landlord online, make sure you do not pay any money to gain access to the property for an inspection, and, make certain the landlord intends to comply with your state’s rental legislation. If you’re unsure about anything, contact and agent or the Real Estate Institute of your state’.

According to Mr Ellis, the other simple ways to avoid a rental scam are to:-

  • Never wire money
  • Always meet the landlord or property manager in person before signing any rental documents
  • Even if you are overseas, contact a reputable third party, such as a friend or an agent if you don’t know of anyone in the area, and ask them to view the property on your behalf
  • Never give out bank account information or personal details, especially over the phone or online
  • Do a web search of the landlord’s name to see if there is any other available information on the person.

Mr Ellis advised potential renters to watch out for properties where:

  • the rental amount is unusually low, compared to similar properties in the same area
  • the landlord is unable to show you the property
  • they request payment via wiring, cashier’s check, money order, escrow service, Western Union or MoneyGram,
  • rental applications or reference checks are not requested, and
  • email is from a free email provider such as yahoo, gmail, Hotmail, etc.

“Another dead giveaway is a lot of spelling mistakes in their email communications, the grammar is not good, or, there is an excessive use of capitalisation,” Mr Ellis said.

-       copy ends –

For further information contact Stewart Bunn, National Communications Manager, First National Real Estate, on 0413 624 317

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Capital city vacancy rates tighten

April 4, 2012 Leave a comment

Residential vacancy rates in most capital cities slipped for the second month in a row in February, with Hobart the only capital recording an increase in available rental properties of 0.2 per cent.

Data from SQM Research shows the national average fell to 1.7 per cent in February, down from 1.8 per cent in January.

Hobart is breaking the trend as vacancies increase, with rates rising from 1.0 per cent to 2.3 per cent over the past 12 months.

Melbourne still has the highest vacancy rate at three per cent, yet also witnessed the biggest monthly drop after falling 0.5 per cent. However, the Victorian capital has been oversupplied for several months. The report reads, “This may come as good news for landlords, with the city’s vacancy rate coming down to three per cent, a figure seen by SQM Research to be at equilibrium.”

Perth vacancies remained steady at a national low of 0.6 per cent. However, listings that have been advertised for three weeks or more, when compared to the total number of established rental properties, dropped by more than a hundred, from 1,084 in January to 973 in February.

However, according to the Real Estate Institute of Western Australia (REIWA), the vacancy rate of Perth was higher, at 1.6 per cent. Yet the REIWA report acknowledged this was the lowest vacancy rate experienced in Perth for more than four years.

“We particularly note conditions in Perth have now swung heavily in favour towards landlords and we are now expecting rents to rise in Perth by at least five per cent for this year,” said Louis Christopher, managing director of SQM Research.

Perth real estate agencies have been reporting strong demand for rental properties, with one agent in the city’s south reporting 82 separate groups of people looking at one property which was renting for $390 a week.

This follows a report from another Perth agent that a rental property attracting more than 20 interested parties, with the property renting for $20 above its original asking price.

According to SQM Research, Sydney (1.5 per cent), Adelaide (1.3 per cent) and Canberra (0.7 per cent) all dropped by 0.1 per cent on-month, while Darwin (0.7 per cent) and Brisbane (1.6 per cent) both slipped by 0.2 per cent.

Source: Real Estate Business

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Flat market, ‘strongest since March 2011′

April 2, 2012 1 Comment

With March quarter sales results now quantified, capital city home values have effectively stood still since 31 November 2011. This is the strongest result since March 2011 when values increased by 0.7 per cent, according to RP Data.

Sydney’s housing market has been the ‘primary growth driver’ nationally because home values lifted 1.1 per cent over the quarter.

However, prices fell in many other capital cities, dragged the national average back to zero for the quarter. Adelaide experienced the hardest fall – homes there are now worth 1.5 per cent less than in the final quarter of 2011.

Resources rich states had a bumper quarter with Perth, Darwin and Brisbane’s home prices all increasing in value – 1.4%, 1.1% and 0.8% respectively.

Down 4.4% past 12 months

What this all adds up to is continuing softness in the national marketplace and a fall in overall capital city values of 4.4 per cent in the past 12 months.

So, how did each of our capital cities perform in the past 12 months?

  • Hobart prices fell 7.3%
  • Brisbane prices fell 6.1%
  • Adelaide prices fell 5.7%
  • Melbourne prices fell 5.4% (But they’re still up 45.5% since 2007)
  • Canberra prices fell 0.3%
  • Sydney prices fell 3.2%

And what about the regions?

For the rest of each state, dwelling values fell by an average of 2.5 per cent.

So, Canberra, where times are never really bad and people are always confident about their employment status, turned out to be the star performer with values down just 0.3 per cent over the year.

Affordability up, FHBs coming back

According to Ben Skilbeck, managing director of Rismark International, a number of factors point toward an improvement in market conditions in recent months.

As a result of these falls in values, the price of buying a home is now below the decade average. Also, more people are preparing to buy a property.

The ABS reports that home loan approvals continue to lift as well. They’re now at their highest levels since November 2009, and, the value of all approved loans is higher.

As a share of all approved loans, first homebuyers are back at levels not seen in two years.

Investors reap rewards

Although capital city rental housing yields have only improved modestly from 3.6 per cent to 4.1 per cent, apartment yields are ahead – increasing from 4.4 to 4.8 per cent over the same period.

However, hold onto your seat if you’ve invested in Darwin, Perth or Brisbane. These three cities have bounced back from recent lows, improving by 22, 21 and 18 per cent respectively.

Sales volumes fall

The number of properties for sale continues to fall.

Having peaked late last year, the number of days it takes to sell a home should now begin to fall and, as buyers have fewer properties to choose from, negotiations will more often lead to successful outcomes.

Arrears down

Australians are paying down mortgages at the fastest rates since the peak of the GFC.

The Reserve Bank reports mortgage arrears have fallen from 0.7 per cent to 0.6 per cent, comparably low by international standards.

Nearly 50 per cent of owner-occupiers are ahead of schedule with their repayments. In the December quarter, total excess payments were running at twice the minimum – up 80 per cent from last year’s March quarter.

Much of these payments have come from salary bonuses or sale of shares. Households have typically injecting an extra 3 per cent of disposable income into home loans since the GFC.

For First National’s complete 2012 market outlook, see 2012 Property Market Outlook.

SOURCES:

RP Data-Rismark March Hedonic Daily Home Value Index

Sydney Morning Herald

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Bargain buys at The Entrance

March 30, 2012 Leave a comment

The Entrance, A coastal holiday hamletAn oversupply of units and apartments has created a unique buying opportunity at The Entrance, just north of Sydney, according to local agents.

Finding an apartment to buy in the popular holiday suburb of The Entrance is not hard to come by.

Of the 166 properties for sale in the beachside town, 112 are apartments and units.

And given the huge availability, buyers are in a strong position to negotiate prices.

Philip Martin of First National The Entrance said the situation presented a great buying opportunity for savvy investors and those wanting to enter the property market.

“With the number of properties on the market, owners who have to sell are a lot more reasonable with prices,” Mr Martin said. “This is a good situation for investor buyers who can expect a rent return of around six to seven per cent.

“The high percentage of mortgagee sales over the last few years has put downward pressure on prices.

“But we are seeing the market start to recover. Compared to this time last year unit numbers are down and slowly selling off.”  Mr Martin said investors looking to cash in high rental returns and Sydneysiders securing weekend getaways were the main buyers taking advantage of the situation.

Visit First National The Entrance’s website for more information www.theentrancere.com.au

If you buy, sell, rent or lease from First National between now and 31 August, you have a chance to win a share of $50,000 in cash prizes with First National’s $50,000 Cash Drop

 

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Delivering for our members in the first 65 days of 2012

March 22, 2012 Leave a comment

If you’re an independent agent or you currently belong to a franchise network, you might have wondered how life at First National compares.

As a not-for-profit entity, First National’s chief purpose is to generate products and services for our agents to prosper. And, because we’re not keeping profits for ourselves, we bet we’ve done more in the first 65 days than our competitors have for their agents!

This video was sent to our membership recently to keep them in the loop.

Talk to one of our Network Development Managers about how First National could do more for you. Call 1800 032 332 or visit www.joinfirstnational.com.au for more information.

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$50,000 Cash Drop lands… copy that First National

March 21, 2012 Leave a comment

Buy, sell, lease or rent from a First National member between now and 31 August 2012 and you’ll have a chance to share in our $50,000 cash prize pool. What will you do with your cash if you win?

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How do you avoid rental scams when looking for a new home?

March 20, 2012 Leave a comment

Don't get scammed

If a rental asking price seems to good to be true, it almost certainly is!

Scammers have been targeting unsuspecting tenants by offering properties in top locations, via websites like Gumtree and Flatmates.com, at vastly reduced prices.

Problem is, the scammers, who are often acting as overseas landlords, or may even appear to be branded as agents, ask for an upfront payment to secure the property or the keys for an inspection.

The one constant is that the agent or landlord is never available to show the prospective tenant the property.

Once money has been wired overseas, tenants wait for the keys and paperwork to arrive. Of course, it never does.

Some 220 unsuspecting people lost an estimated $40,000 in rental scams last year. Make sure you’re not one of them next time you are shopping for a new home.

Next time you’re looking for shared accommodation or a normal lease, follow these tips and you’ll be fine:

  1. Be immediately cautious of unusually low rental asking prices.
  2. Insist on an appointment to inspect the property.
  3. Do not deal with an owner or agent who makes excuses about why they can’t meet you at the property and/or insists on an upfront payment.
  4. Be wary of shared accommodation websites.
  5. No matter how real the advert looks, don’t forget all the information could have been copied from a legitimate agent’s website.
  6. Avoid money transfers.
  7. If the property is overseas, ask somebody you trust to make inquiries on your behalf in the country concerned.

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First National Real Estate Membership – We put you first.

March 15, 2012 1 Comment

Click here for more information about First National membership.

We have created an environment and business model that fosters the genuine sharing of ideas, values the management input of our membership, enables flexibility and delivers powerful, relevant products and services.

Crisp new branding has revitalised long-standing consumer appeal, broadening demographic reach and more accurately reflecting our industry leadership in real estate services and technology. Early adoption of mobile applications has assured First National members maintain their lead over competitors with some of the most sophisticated tools available.

However, despite the renaissance that has taken place at First National in recent years, we remain true to the fundamental business model founded by real estate agents 30 years ago. Our Board of Directors continues to comprise member agents who direct the network on behalf of its many stakeholders.

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