Thinking of changing property managers
Expert Advice
Why choose Maloney's After 20 years in property management I would like to point out why I think we lead the way in property management. 1. We are a company big enough to be systemised, organised, structured and well resourced, however, small enough to care about our clients 2.Our website has a major focus on property management and is a...
Unlocking the value in Owners Corporation assets
Expert Advice
It is sometimes said that the law is an ass. In the case of strata legislation the most pervasive issue is usually lack of rigor and prescription around how an Owners Corporation should go about its affairs. Pleasingly in the ACT we have seen great improvement on that front since our jurisdiction upgraded its strata laws in recent years. Although...
Buying your first home. Let’s look at the options
June 2016 Issue 116
All of us have been brought up with the goal and hope of buying our own home. We have this discussion in the office on a regular basis, when, where and how to go about it. Naturally opinions vary as personal bias comes out. The first part of the process is to look at your 5-10 year plan. This affects...
Strata title is the way of the future
Expert Advice
Six months ago I began writing this column on strata management in B2B Magazine. I had just commenced as Managing Director of Vantage Strata and was six months into my role as President of Strata Community Australia (ACT). I said that my mission was to 'do nothing short of rewriting the book on strata and building management in Canberra'. We...
Looking to invest or live!
Expert Advice
Planning for the future is an important part of our lives, part of which includes your future housing needs. Where do you want to live and what facilities will you require? So bearing this in mind should I buy an investment property now that I can move into? Naturally being able to make decisions for your future needs as soon...
Strata – more than just a temporary job
Expert Advice
I have said in the past that strata is often considered the ugly second cousin of the property services industry. In the past a strata manager has not commanded the same degree of authority as perhaps a facilities manager or a real estate salesperson. Pigeonholed as being a "necessary evil" many people who have worked in the strata industry for...
What will happen if Labor stops negative gearing?
Expert Advice
Firstly let me state very clearly that I am not a part of any political party. I was in real estate last time Paul Keating stopped negative gearing in the late 80's and that was such a disaster it was cancelled in less than 12 months. It ended because investors stopped buying residential property and rents went up alarmingly as...
What if we train our staff and they leave?
Expert Advice
A number of years ago, while completing my Diploma of Property Services, the class that I was attending had a brilliant mantra on the whiteboard which has always stuck with me. The saying was written in the form of a question and answer as follows; Question: What if we train our staff and they leave? Answer: What if we don't,...
Is your home holding back your lifestyle?
Expert Advice
Many Australians that are getting close to retirement have more money tied up in the family home than they have in income producing assets that they will need to fund their retirements with. While the family home is exempt from capital gains tax, it is a non-income producing asset and will require a substantial amount of money to maintain each...
Unlocking value in the air
Expert Advice
If you have been paying close attention to the strata title property market in recent years, you may have heard the term "volumetric subdivision". If you haven't heard of it you soon will. As far as Canberra is concerned, property can come in two simple forms; either a single title piece of land or a unit in a strata titled...
11 tips for stress free investing
Expert Advice
'Looking to invest in Canberra? Like all astute investors you know the next important step is choosing the right agent. Here are my 11 tips for a stress free property investment. 1. Have 2 months mortgage payments in an offset account, just in case there is an unexpected expense; e.g. a tenant is a couple of days late in the...
Seek advice when investing ‘sinking funds’
Expert Advice
'When it comes to money, I rely heavily on the advice of my accountants and financial advisers, even though I consider myself better than average in my understanding of money, finance and investment. I am, however, smart enough to acknowledge this is a complex environment, and hubris is not my ally when it comes to making sound decisions for my...
Strata meetings: is there a better way?
December 2015 Issue 111
When I started my career in the strata industry ten or so years ago, I was told in no uncertain terms that part of the job would require me to conduct strata meetings outside of business hours on site at peoples units or townhouses. Since that day, it has been abundantly clear to me that this is a steadfast rule...
Welcome to a $1,000,000,000,000 industry
Property
"I am pleased to commence contributing a column on strata management for B2B magazine. However, before jumping in, it is important that we all address the elephant in the room - the fact that far too many people in Canberra have had poor experiences with their strata managers. During my 10 years as a professional within the property industry,spanning strata...
When, where and what to buy…understanding the fundamentals
August 2014 Issue 96
Have you ever considered buying an investment property but have been daunted by the task and fear of getting it wrong? There are some fundamentals that you need to understand to be a successful property investor. This includes doing your research and finding a qualified property investment advisor who can help you through the process. You'll need to assess the...
Why you need to make use of mortgage offset accounts
Expert Advice
To me, the introduction by most Lenders of a 100% linked mortgage offset account offering was the best thing since sliced bread in providing the opportunity to reduce mortgage interest charges. Other than the mortgage holder using the account nothing more need be done to gain the benefit of reduced interest charges. What could be easier? And yet, I am...
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