Harcourts Move – May 2022 Update

Hello, and welcome to the Harcourts Move newsletter for May 2022.

What an interesting past week we’ve had with interest rates increasing by 25 basis points which, given there is a federal election on May 19, came as quite a surprise to many. Many predicted an increase of 15 points and given the rate of inflation, it’s expected there will be another rise next month of perhaps another 25 points, and a potential flattening of CPI.

There are quite a few factors that will have an impact on the rate of home affordability, and you can learn more about the discussion I had with Tim Lawless from CoreLogic in this month’s Market Insights. Watch the video here.

Spoiler: despite the mainstream forecasts of a property ‘crash’ to come, I don’t agree with this sentiment at all. 

We’re so proud to have won the Harcourts Property Management Award for Excellence for a second year in a row. Being in such an incredibly fast moving industry means we’re always searching for ways to improve our service to our clients – whether it’s through welcome packs to our new renters to increase their longevity, or through supporting our property owners with better ways to increase the return on their investment property, our team continues to strive for excellence. Being recognised by our industry is so important and we sincerely thank you for your continued support.

The Harcourts Move team has a new website! It may have been some time since you visited our website and you can take a look at it here.

Our team is excited about our fresh new look and how we can support your property goals. If you’re at a point where you’d like an idea of what your property is worth in the current market, simply click on this link and one of our team will be in touch with you to discuss your options. 

This month, we look at the benefits of apartment living. Not having to manage a large garden and being able to lock the front door and walk out for a holiday are obvious advantages – but what about maintenance and repairs? Read more about some of the obvious and not so obvious benefits on this link.

With low vacancy rates for rental properties. securing a rental property is very competitive. Many applications come our way and while it’s a challenge to initially find the most suitable renter, there are some top tips for successful applications. Responsibility, reliability, and the all-important ability to pay the rent on time, every time are the obvious tips and you can read about the not so obvious ones here.

This month, we’d like to feature a property we think will be a great investment opportunity. This low maintenance 3 bedroom, 2 bathroom apartment located in Williams Landing ticks all the right boxes when it comes to an investment property. Click here to view this property and if you’d like to know more, simply get in touch with Catherin and she can take you through your options.

Behind the scenes: Protecting your investment

Did you ever wonder what goes on behind your monthly statements and the regular inspection reports? I think some of you would be amazed at the weird and kooky things that happen behind the scenes.

This month out team came across renters who had some extra creatures taking up residence in their home. These little fuzzy creatures (mice) had been living in the long grass which hadn’t been mown for many months and decided to come into the warm house. The renter was adamant that the owner had to pay for not just the pest eradication, but also to mow the grass!

Prospective renters who refuse to remove their shoes when inspecting a rental were interesting to deal with this month. Despite polite signs asking for shoes to be removed, there was quite the scene with several couples loudly refusing to do so. Obviously, these people did not complete an application.

This month our team completed 50 property inspections, conducted 25 open homes and welcomed 25 new renters. With a current vacancy rate of 0.7% and properties spending less than 2 weeks vacant during renter changeover, our team are working extremely hard to protect your investment.

Thank you for your continued support and remember our team is always here to help answer any questions or share our expertise with you, so please feel free to get in touch at any time.

Until next month, stay safe and stay connected. 
Sadhana