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December 5, 2022

What Will My Body Corporate Fees Cost?

Sep 19, 2022

Body corporate fees are payable by every member of a body corporate. A body corporate is a legal entity or structure that is created when land is subdivided and registered. Upon this land, multiple dwellings are built, such as an apartment building, with the land collectively owned by all purchasers.

When you purchase an apartment that is held within a body corporate, while you own the apartment itself, you only hold a share in the common property and amenities. The body corporate fees, which are generally proportioned to the size of the apartment you own, are pooled with those of other residents and used for maintenance of the shared assets. You can expect that a property with multiple common areas and amenities such as pools, elevators, gardens, and gyms will have higher fees than one which does not. The location of the property itself also plays a role, as does the property age, size, and number of dwellings it has.

What Do Body Corporate Fees Pay For?

There are multiple services that your body corporate fees may encompass, including:

  • Building manager fees – many body corporates will have a paid building manager who is responsible for liaising with owners and organising maintenance and other directives received from the body corporate committee. As well as wages, some body corporates offer their building manager onsite accommodation as part of their remuneration package too.
  • Upkeep and cleaning of common areas such as the lobby, gardens, and swimming pools – the maintenance and cleaning of all common areas are covered, ensuring that they are always presented to a high standard and can be enjoyed by all.
  • Insurance which covers the building and associated facilities – while you are responsible for the insurance of your apartment and belongings, the fees you pay will cover damage and repairs to the buildings and common areas and possible liability and employee coverage.
  • Compliance with local regulations for building and infrastructure safety – safety inspections and reports, fire alarm testing, electrical certification and other testing requirements for the building and common areas are completed on your behalf. Any certifications from local authorities will also be obtained and kept valid.
  • Future sinking fund for additional maintenance and renovations – as a building ages, there is a need to plan for the additional costs for repairs and updates that will be required. A sinking fund is often created with part of your fees being added to it.
  • Security and caretaker fees – the body corporate will engage the services of professionals to assist them in meeting their requirements towards property maintenance. They may also employ people to provide services to residents, such as a concierge and security.
  • Special levy – some body corporates require payment of a special levy which may be included within your fees or an additional cost. A special levy may be collected due to unexpected damage or required maintenance to a part of the property or to cover any legal costs.

It is important to realise that like almost everything, body corporate fees are almost certain to rise over time. You will also be required to follow the body corporate regulations and rules as to what you can and cannot do, and you should receive voting rights when it comes to major property decisions. As for living in the property or renting it out, with so many tasks being undertaken on your behalf, what will you do with all of your free time?

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Air BNB Property Management Gold Coast Area

Sep 7, 2022

If you own a holiday home in the Gold Coast area, it can be a great way to bring in a good income. However, managing the property takes a lot of time and effort. If you do not live close to your property or if you have other full-time employment, you would not have the time to manage your property yourself. This is where an Airbnb property manager can help you.

The Benefits of Hiring an Airbnb Property Manager

The property management company can handle everything relating to your holiday home on your behalf.

Listing Your Property

From writing a fabulous description to taking attractive photographs of your house, the property management company can showcase your holiday home in the best way to attract potential guests. They can even help with styling your house. They can list your property in directories where travellers look for lodging.

Dealing With Guests

When a guest wants to rent your house, the property manager will deal with all aspects of the rental including processing payment and managing the keys. If your guests have any questions about the property, the property manager will respond to them on your behalf. They will consult you first if needed, but you do not have to deal with the guests yourself because the property manager will communicate with them. 

Responding To Problems

If any problems arise during your guest’s stay, your property manager can respond to them right away because the manager is local. You do not need to travel all the way from your home to deal with it. Whether the problem is a leaking faucet, pest problems, or any concerns about your house, your property manager will deal with the issues and keep you apprised of the situation and resolution. This will save you the time and hassle of dealing with the problems yourself.

Maintenance and Housekeeping

Any house will need regular maintenance. Your property manager will take care of those issues. They will deal with any services that are called in to fix a problem like plumbing repairs, electrical repairs, malfunctioning appliances, and more. The property manager will get your approval before any repair work is done, but you would not need to deal with the service providers because your property manager will take care of that. They will also take care of housekeeping so your house will always be sparkling clean before your guests arrive.

Provide Regular Reports

The property management company will provide reports on the house whenever you want it. They can keep you apprised on the guests’ satisfaction, income generated, operating expenses, and more. You will be fully informed on how your property investment is doing.

Contact BnB Booking For Your Property Management Needs

BnB Booking is the leading holiday property manager in the Gold Coast area. They can do all of the management work from listing your house, preparing your house for your guests, and taking care of any needs that your guests may have. Call them today and let them manage the rental for you while you sit back and enjoy the extra income.

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How the internet has changed real estate

Apr 5, 2022
Looking for houses was a hassle in the past. One would have to go to an actual agency and get an agent. With the advent of the internet, all this changed. Since there is so much going on online, the real estate industry was also affected. Here are some of the ways the internet has changed marketing for estate agents.

More listings

Unlike in the past, when you would have to walk around looking for the “for sale “signs next to a house or building, you can look at houses online. There are so many listings, and all you need to do is go online and look for a home you want. For instance, you can look up villa for sale Mougins and all the homes in the region will pop up. It makes getting a house and an agent such a breeze.

Social media marketing

More agents and agencies push for their homes online thanks to the algorithms and targeted ads. It is easy for you to be scrolling social media and coming across houses in your area. These targeted ads make it easier for someone who has been thinking of getting a home to know where to look. It also ensures that agents can reach out to potential clients without a hassle.

Better visuals

To ensure you get the best house, agents have put up great visuals online. Since most clients look online before going to a house, first impressions matter. Most houses have been well organized to ensure that clients can easily get to the houses they want. There are even agencies that carry out virtual tours so one can know what house they are getting before making the actual purchases. It makes the entire concept of house hunting easy.

 Better price ranges

Since more listings have a price tag, you can easily tell if a home is under or overpriced. Before the era of online listing, agents and sellers would put whatever price they wanted on a house, and one would not have a place they could compare these prices to. If a house was highly-priced, there was o way of knowing that the price should be lower. With online listings, one can get a better feel of the price point and know what range the houses should be in. it has made regulations on house value better, and buyers know that they are getting a house at a good price.

Online buying and selling

Since most agents are listed online, one can buy and sell a house without needing to leave their home. It makes the entire process straightforward people have been able to buy homes away from them. It has made buying land in her countries simpler and fats as well.

The internet has changed how we buy and sell a property since people keep interacting in online spaces. Every industry will be affected in one way or another. Knowing how real estate is affected by the internet helps you figure out how to buy your home as a buyer.

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Real Estate Trends to Watch in 2022

Nov 23, 2021

2021 is about to come to close and so is this year’s crazy real estate market. We saw a year filled with skyrocketing home prices and the return of bidding wars over the last couple of years, as well as the lowest mortgage rates we may ever see in our lifetime. There was a continued super low number of homes for sale and moratoriums that made things a bit complicated to navigate.

It has been a year for the books to say the very least, but what does the year 2022 expect to bring us? What are experts predicting is around the corner for the real estate market? Will 2022 offer more of the same ups and downs, or can home buyers and investors expect challenges to begin to settle?

Here’s a look at projected real estate expectations for the coming year

Foreclosures may increase

“Despite some struggles that many have faced during the pandemic, there has been a relatively low number of foreclosures over the last 18 months and this is partly due to a nationwide foreclosure ban. This moratorium expired in July 2021 and foreclosure rates have begun to grow.” – Scott Startsman, Honolulu Realtor®

Home price increases will slow down

One of the largest and most obvious changes within the real estate market over the past year was the high inflation of home cost across the country. According to the latest federal housing finance agency numbers, results showed that home prices jumped 18.5% as compared to the same month in 2020. But there is some good news in sight for homebuyers as the days of ginormous price hikes are going to begin to slow over the next coming year. Many financial analysts expect prices to appreciate at a slower pace than they have over this last year.

Additional: Should you offer over asking price? – David Hornick, Cedar City Utah

Mortgage interest rates will increase

Mortgage rates got much lower than anybody ever expected them to get as the pandemic began and then they became even lower. With the federal reserve tapering its mortgage backed securities purchases because of rising inflation many are expecting that mortgage rates will definitely rise over the next year. Some mortgage rates have already shown signs of increase with the average 30-year fixed rate loan increasing just recently by a few percentage points. Some mortgage analyst experts predict that interest rates could increase to an average of somewhere between 3.3% to 4% over the next year.

Additional: The Best Way to Take Advantage of Your Home’s Equity – Steelman Mortgages

Inventory should increase

“One of the largest hurdles to finding and purchasing a home over the last year and a half has been a very low number of homes for sale. Inventory had its lowest ever record number at one point with just a 3.5 month’s supply of homes for sale. Next year is not expected to see a huge uptick in the amount of inventory but it is expected to increase just a little as time rolls on.”  – Guy Amato, Marco Island Real Estate

Though 2022 is not expected to show a huge turnaround in the inventory marking significant high relief to buyers, it is showing promise and a rebound in several areas. Things are happening to show the real estate market is coming back to more of a normal status but it will be a slow and steady rate of getting back.

More Related Info for Real Estate Buyers and Sellers:

How to Tell if a Home is Overpriced

Are Sellers Scared to Sell Because They Have to Buy?

7 Things to Look for When Buying a Home

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Make your investment in the right property

Sep 10, 2021

Investment property increases your wealth and secures your finance in the future. But you need to keep in mind that you need to invest in the properties efficiently to achieve your financial goals. Everyone shows their interest in investing in properties because you could get better capital growth. However, you need to choose the property at the right price. It is significant to be knowledgeable to make your investments on the right property. You should never consider investing in properties if you are unfamiliar with the area or property type. There are different classes of property and you need to choose the right one that will suit your budget. To get all the latest Property News, read on the property press online website. It is the best way to stay updated and you can make better decisions.

How to identify good investment property?

One of the best ways to grow your income and maximize your savings is by investing in properties. You need to understand that what makes the right property investment. Because you could find a lot of options making it hard for you to choose the right one. If you want to makes the best investment, then reading about Property News will help you to gain some vital information and decide on the right properties. Below are few factors that you need to consider to find the right investment property.

  • First of all, you need to do some research for finding the best property. You need to consider the rental yields and if it has a higher percentage, then you can make your investment. Because higher rental yield gives you more income. Therefore, it is a lucrative option that you can consider to decide.
  • Next, you need to think of capital growth. It is crucial because it helps you to determine the value after few years of your investment. Over the years, you could see unimaginable price growth than usual. So, if you are looking for a serious investment opportunity then it is significant to pay close attention to capital growth.
  • You need to check the rental demand for the property. To choose the right demand property, you need to consider the areas and the nearby spots. Therefore, if you are looking for an investment opportunity of buy to let property, then you need to consider essential factors to get a high return on investment.
  • Buy to sell property is also a good strategy but you need to choose the best property. You can purchase a property and can sell it for a higher price. This is more helpful for you if you’re looking for more short-term returns.
  • Hence, to find the right investment property you need to read a lot about websites and should find the best one based on your budget and investment plans.
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The most effective method to Profit From Your Rental Properties

Sep 16, 2019

There are heaps of individuals who accept that gathering enormous benefits from investment properties is perhaps the least demanding business they can accomplish for getting a charge out of a rich life. The explanation which from the outset occasion, is by all accounts answerable for this fantasy be no strain of setting up an individual office or plant, no pressure of delegating immense staff for getting various undertakings achieved on schedule, no worry about the sinking of assets on and so forth In basic words it very well may be said that bunches of individuals feel that procuring rent from the property given on lease doesn’t need any tremendous speculation.

Be that as it may, is it actually so as it is by all accounts or acquiring benefits from investment properties is intricate and requires the correct contribution of the individual putting his assets in the property for giving on lease. This indeed is the matter of discussion which is primarily a result of the conversations which they have from their known ones who have given their property on lease. Despite the fact that, this can be valid, however that is conceivable for the situation in the event that you have leased the segment of your home to just a couple of inhabitants. Yet, on the off chance that on the off chance that you have a few properties which you need to give on lease at that point caring for those properties could be very untidy for you, particularly when your occupant calls you at some odd timings.

In addition, on the off chance that you a few properties for lease situated in another side of your city or is some other city at that point taking care of those properties could be very overwhelming for you. Since taking care of the apparent multitude of properties simultaneously won’t be feasible for you, at any rate, regardless of whether you prevail with regards to overseeing it, you may need to battle with your inhabitants for lease and different issues. In any case, regardless of whether somebody accepts that putting resources into property is perhaps the most straightforward strategy for acquiring, at that point they don’t realize that it resembles hitting the bullseye. In this way, how a fledgling can dispose of different issues emerging from Rental Properties Adelaide for procuring anticipated benefits from his property.

A response to this inquiry in basic words can be employing the administrations of the investment property the executives bunch which is comprised by the gathering of experts having tremendous involvement with caring for the different viewpoints related with investment properties.

Why you should enlist the administrations of investment property specialists:

As alluded over that the greater part of individuals consider bringing in cash from investment properties as a simple errand, concurred that it is. However, do you realize how to look for the imminent inhabitants, how to meet the occupants and get their records checked, what are the authoritative reports needed to be set up prior to giving any property on lease or what to do in the event that if your occupant will not pay lease on schedule or attempts to show his proprietorship on your property? Every one of these inquiries are only delineations of the issues which as an amateur, you may confront while putting your assets in property, there may be different issues about which you may have even not envisioned could upset you whenever you have given your property on the lease.

At any rate, on the off chance that you know pretty much every one of these issues and ability to overcome them, at that point without a doubt no one can prevent you from getting wealthy in a couple of years. However, in the event that on the off chance that you don’t wish to confront every one of these issues, at that point it is smarter to at any rate will consider employing the administrations of the property the executives specialists to dodge any sort of basic circumstance later on.

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Venture Property – Finding Discounted Properties

Aug 14, 2019

Venture Property – The Future

Venture property keeps on being a well known type of contributing for what’s to come. Some picked speculation property as a method of financing instructive charges later on. Others may picked venture property to help secure a more monetary future, store extra speculation property buys, or they may essentially pick speculation property as a method of making easy revenue so as not exclusively subject to their standard business.

Speculation Property – Interest Rates

In spite of late loan fee rises, the property speculation market in the UK stays solid. There are various reasons why venture property in the UK has stayed a solid competitor in the speculation market. The UK speculation property market has encountered a significant level of development particularly throughout the most recent six years. In any case, generally property in the UK has multiplied each 10-15 years. Over the most recent couple of years, the UK has seen sensational expansions in speculation property and motivating forces for proprietors and financial specialists which has seen a few speculators purchasing venture property in the UK for up to and incidentally with over 20% limits. These speak to huge reserve funds to a property speculator purchasing various venture properties and subject to sourcing the best purchase to let contract items for these venture property bargains, can regularly bring about the property financial specialist being able to purchase a venture property with practically zero store.

Venture Property – Finding Discounts

Discovering venture property from property engineers with authentic limits can be a tedious exercise. It is imperative to recognize whether the markdown being offered for the venture property is veritable or whether the gross cost has been swelled on the speculation property to take into account the rebate. Build up whether it is a certified rebate on the venture property by getting comparables of other speculation property that has as of late sold and at what cost. In spite of the fact that remember, a few financial specialists can haggle preferred limits on venture property over others. This might be because of the volume of venture properties that they have either purchased as of now from the property designer or the quantity of speculation properties they are proposing to purchase. Similarly as significant, is to set up what the possible rental figure will be for the speculation property as this will regularly decide the general advance sum you can accomplish on the purchase to let contract credit for the venture property.

Venture Property Hotspots

On the off chance that a financial specialist is taking a gander at venture property in property hotspots or zones that are encountering significant levels of recovery, it can some of the time expect them to subsidize a more elevated level of store for the speculation property at first while the rental figure remains moderately below the overall market normal for another form venture property of a similar incentive in another zone. Property financial specialists with a drawn out view on speculation property will even now consider this to be a positive move to make for their venture property portfolio in the information that as the recovery territory turns out to be more evolved, the possible rental interest for the venture property will increment so, all in all they will utilize this opportunity to see re-selling their speculation property to deliver the capital that they had furthermore subsidized. Commonly a purchase to let contract for a venture property will require the property speculator to finance in any event 15%. Albeit some purchase to let contract moneylenders are presenting to 90% purchase to let contracts on speculation properties.

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Property Agents – How Do You Price a Commercial Property?

Jul 12, 2019

At the point when you take a gander at business property unexpectedly as a realtor or dealer, it tends to be for an assortment of reasons. A portion of those reasons will include evaluating the property for the proprietor.

There is a huge contrast between what the property is or could be esteemed at, contrasted with what the property will accomplish in any deal. The market estimation of the property is resolved through a thought of numerous issues including cost of land, cost of enhancements, and deterioration because of the age of the property.

The primary concern in estimating a property available to be purchased is extraordinary and is truly affected by the interests of buyers in purchasing the property. The venders of properties ought to recall this when they take their property to the market and endeavor a deal.

You can have the absolute best property yet it very well may be in a helpless area. Eventually nobody will get it, and it will stay on market for quite a while until the cost is limited likewise. There is likewise the opportunity that it may not sell by any means. On the off chance that you need to be effective as a realtor, taking on ‘failure’ properties is certainly not a smart thought; let your opposition do that.

Realtors and real estate agents should list a property not on a substitution esteem premise, but rather a market value premise. This considers the patterns of the nearby market, the capability of the property to sell, the future chance, the property revenue source, and the nature of the enhancements for the property given the age and state of those upgrades.

The buyers of business property will purchase the property dependent on those market patterns and future chance. Property speculators of involvement go to a genuine measure of survey respects the neighborhood socioeconomics before they decide to buy another property. Basically they need to see future chance and the solidness of income.

This originates from knowing the provincial socioeconomics of the network and nearby organizations. Realtors and real estate professionals should be specialists in understanding the neighborhood socioeconomics. They would then be able to be explicitly adjusted to the neighborhood business network, its requirements, its capacity, and its development. This additionally helps their prospecting adequacy.

We as a whole realize that it costs cash to assemble a property of intricacy and size. Critically the expense of development must be supported through sound assessments of revenue source, rental, working expenses, and gracefully and request of lettable space. The area of the property and its allure to future tenants ought to likewise not be ignored.

So the estimating of a property available to be purchased truly includes an unexpected condition in comparison to the rudimentary estimation of the upgrades. It is the cautious survey of market revenue of the property in the current area, combined with the components of territorial business development, inhabitant inhabitance, business achievement, and network reconciliation.

Assembling all the parts to the condition includes understanding the nearby market. This will consider:

The costs of practically identical properties in the zone as of late proved

The set up rentals of properties generally and current

The opening components from existing and encompassing property market

The development of the neighborhood business network

New property improvements coming up in the zone

The degrees of motivating force in the renting of business property

Neighborhood, provincial, and public financial conditions identifying with the business network

The area of the property in the nearby area and its nearness to different organizations or business areas

Neighborhood administrations and civilities

Transport hallway nearness and traffic stream examples of fundamental streets

Wellsprings of and admittance to workforce

The estimating of a property available to be purchased is accordingly altogether equipped towards the area and territorial socioeconomics. On the off chance that you need to sell more property and do it quicker, at that point this data is basic and basic.

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Property Investment Checklist

Jun 10, 2019

On the off chance that you need to make an effective and profoundly productive land speculation, there are some key factors that you ought to consider prior to picking a venture property. We have aggregated this Property Investment Checklist to give you a short yet fundamental outline of key components you should focus on.

1. Have you picked a solid and expert property speculation office? On the off chance that you are contributing through a property venture organization or property operators, you should ensure that you can completely confide in them. Check the organization’s history, request to see customer tributes, and attempt to contact previous customers. Guaranteeing that you are utilizing the correct property speculation organization will give you true serenity and is basic for an effective property venture.

2. Do you comprehend the fundamentals of property speculation and current economic situations? While you should utilize experts, specialists, or realtors during the speculation cycle, you can’t altogether depend on them. Ensure that you comprehend the rudiments of property speculation and all budgetary subtleties included. This will empower you to detect any expected dangers early and to locate a productive speculation opportunity and a decent area.

3. Do you have an away from of what sort of venture property to purchase? There are an assortment of speculation properties, for example, purchase to let properties, BMV properties, off-plan properties or abroad properties. The sort of land will likewise decide your venture system, so ensure that you comprehend what sort of property and speculation procedure you are searching for to accomplish your ideal benefits.

4. Is the property in great condition and is it in a decent area? These should be essential contemplations, as you will either need to let the property, or offer it to another property speculator or home-purchaser. A property that is in acceptable condition may be more costly, yet purchasing a moderately modest property in a terrible condition will consistently cause critical extra fix costs. Regardless of whether you need to discover inhabitants, or exchange the property, the area will be essential, and a property in an awful area or in a monetarily unsteady area will once in a while end up being a wise speculation.

5. Will you discover inhabitants for your property? When putting resources into a purchase to let investment property, the inhabitants will shape the premise of your speculation bringing you benefit, so it is basic to ensure that you can discover occupants for your property. This will rely upon the area, property condition, the lease, and numerous different elements. Some property venture organizations will even assistance place occupants in the speculation property.

6. Do you see how to boost your profits? Accomplishing a positive income will make your property venture effective. While clearly every financial specialist needs to augment returns, you should see how to get this going. Finding a property perhaps beneath market esteem however in a decent area and great condition will be vital for the accomplishment of your venture. You will likewise need to see how to limit the costs, including fixes, and expenses, and you ought to likewise ensure that the property remains let for the greater part of the year.

7. Do you comprehend the dangers? Property speculation will never be without its dangers, and you will subsequently need to see all the dangers in question. Monetary development probably won’t be true to form, or you probably won’t discover occupants for a more extended period. By understanding these dangers, and building up a powerful danger alleviation procedure, you will think that its simpler to transform your property into a fruitful venture.

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Condo vs apartment – Which One to Go With

Dec 10, 2018

The area of renting has seen a huge evolution in the past few years. It needs to be considered that the living conditions of an individual as grown to a great extent in the past few years and so does the needs and expectations. There are many changes that have been made as to what you expect with regard to amenities in a rented area. There are plenty of options available for an individual these days and it is all about making the right choice that is suitable to an individual. As there are more options available these days, people are quite confused as to which one they need to go with and hence go onto make a hasty decision.

Condo vs apartment

One of the prime problems that many people face is with regard to making a decision with regard to condo vs apartment. It needs to be understood that there is not much a difference between the two and the only difference is the kind of ownership that it is known to have. Apartments are usually owned by corporate companies and the owners may not stay there necessarily whereas condo is owned by an individual person. In case of condo, the owner may stay in the building itself. Many people are quite apprehensive about owners of a building and would want to keep a distance to have a smooth process.

Size and maintenance

When it comes to size, both apartments as well as condos can be the same but the only difference that may arise is with regard to the process of maintenance that is involved in it. It is a well known fact that apartments are maintained by corporate companies who employ the best of experts in the specific area of repair when the need arises but this may not be the case with that of condos. The owner may or may not be willing to do the maintenance work and repair work. Any issue or problem would be taken to home owners association. If the owner is good then he may proceed on to make the repair.

Facilities provided

It needs to be understood that an apartment provides for a whole lot of facilities. Since it is run by corporate companies, everything would be in order and all the process of cleaning, maintenance would be done with perfection. Condos may have all the facilities and amenities as well but the owner may charge extra for maintenance.

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