This information is supplied by HomeSource.
Renovating over Christmas
Don’t forget that tradespeople are looking forward to a break too. Small jobs should be organised for this week at the latest, if they absolutely need to be done before Christmas. You need to check that incomplete work will be left in a safe, secure and liveable condition over Christmas.
Do not pressure builders. Rushed work could turn out faulty. Furthermore, rushing building work is why the December-January period sees more worksite fatalities than any other annual period. Don’t rush your DIY either. Christmas time might mean kids around the home, consider their safety too.
Selling over Christmas
There are advantages of selling during this period. There is less competition due to the reduced number of houses on the market during the festive season. The buyers who are seeking property this time of year are probably more likely to be serious about purchasing. Furthermore, Christmas in Australia means summer. Your property will enjoy the increased attractiveness of sunshine and the heat would encourage inspection and auction guests.
Disadvantages include the fact that a lot of people go on holiday so the number of potential buyers is reduced. You or your real estate agent might want to go on holiday as well. Buyers might take selling at this time of year as a sign of desperation and impatience. Accordingly they may make offers lower than the asking price in an attempt to take advantage of the situation.
Holidaying over Christmas
Being out of home a lot and having gifts lying around means that during the festive season there can be an increased risk of burglaries. As a landlord you wouldn’t want to ring in the New Year with an insurance claim. Check windows, doors, locks and gates on the next inspection. It is a good idea to install security screens on doors and windows and motion sensor lights, if you’re willing to make the investment. Make sure you inform your tenants if you will be away and provide a contact number or email for emergencies.
If your tenants are going away suggest they inform a trusted neighbour or family member and have them collect the mail. Uncollected mail and an unkempt garden indicate a property is unoccupied and invites thieves. Have the lawns mowed regularly. Suggest the use of power-point timers set to automatically turn some lights on at night. This will give off the illusion of the property being lived in. Of course all these tips can be also applied to your own residence while you’re on holiday.
At some time or other your property will undergo repair, maintenance, renovation and home improvement. Furthermore, as a property owner you face daily problems such as neighbour, builder or tenant disputes as well as council restrictions. Being well informed about your rights and responsibilities when issues arise is necessary for smooth property management and the protection of your investment.
HomeSource Access provides members with all the advice they need to make educated decisions about their property. Members have access to over the phone personalised legal or building advice on any property related issue. As well as, access to a database of certified tradespeople to use for trades work. Invest, build and live with confidence.
For more information about Access visit the website or call 1300 733 420.
The above information is supplied by HomeSource.
Disclaimer: while due care is taken, the viewpoints expressed by sponsors
do not necessarily reflect the opinions of Your Investment Property.
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