Every landlord’s goal is the same: it’s to stay within the competitive market rate while preventing high turnover of renters. Managing an investment rental property doesn’t stop at doing inspections and collecting rent. It’s the agents and your responsibility to ensure your investment property is receiving it’s utmost rental return possible to cover any and all expenses you may be incurring such as:

• Property taxes
• Utility costs and property maintenance fees
• Insurance premiums
• Property management fee
• Mortgage repayments 

One of the best practices in property management is reviewing the rental rate. Rental rate increases can be done annually providing the tenant is not in a fixed rate lease agreement. Reviewing your rate doesn’t necessarily mean that you should increase rental fees as often. It’s just a good practice to make sure that your collection still covers your expenses and of course, brings you profit. By bumping the expenses against the rental collection, you would know if your rental fee increase is in order. If your agent tells you that it’s high time to increase rent, do the following:

Conduct market research on your neighbourhood

To make sure that you are still within the market’s range, look at rental advertisements with similar amenities and pay more attention to the data of properties which have been leased opposed to those which are currently for lease (only a Real Estate agent will have access to this). From your agent’s analysis and recommendation, compare and contrast your property and come up with a rate. If this exercise is repeated consistently over the course of a renter leasing the property they are more likely to stay instead of hitting them with a significant increase at once. 

Notify renters of the increase.

Landlords are allowed to increase the rent for their property but they should adhere to the rules. One of the most important rules is proper documentation. To give the tenant enough preparation, the rental provider should inform the tenant of the rental increase in writing at least 60 days in advance.

How much can you increase rent by? Well, the amount is not set in stone. However, it is good practice to provide the breakdown or calculation that lead to the increase. There are a number of methods to do this, the following are examples:

• According to Consumer Price Index – Related to inflation and economy trends
• Statewide Rent Index – Calculated average rent prices in Victoria
• OR an increase in-line with comparable properties in the market.

However, it is noteworthy that rent changes are not allowed during a fixed term agreement unless it is stipulated in the signed contract.

Use the correct form.

We cannot further highlight how proper documentation is important in the rental increase process. Using the right forms are imperative to ensure that the landlord and tenants interests are both served. The following forms are used for rental increase notice:

A rental increase is null and void if none of the forms were authenticated and signed by both parties. Renters are expected only to pay the adjusted rental fee once they were notified of the changes and have signed the correct form.

• Notice of proposed rent increase to renter of rented premises
• Notice of proposed rent increase to resident of rooming house
• Notice of proposed rent/hiring charge increase to residents of caravan park
• Notice of site rent increase ­- fixed amount under site agreement
• Notice of proposed site rent increase – non-fixed amount

Consult with the current law.

Renters and landlords are protected by the law. Check in with the law to ensure that you are not infringing upon any other laws on tenancy.

Communicating rent increases will never be easy. You don’t want to lose long-term renters but you surely also don’t want to be behind on your finances. Including a rent increase clause in your contract can save you from the headache.

Other rental-related blogs:

Although Thornbury is just a stone-throw away from Northcote, this suburb also boasts its own selection of great cafes. In this blog, we have rounded up 5 Thornbury cafes.

Little Tienda Thornbury

Every corner of Little Tienda just checks out with authentic Mexican Feels. The name of the place literally translates to “little store” in Spanish. The crowd goes crazy for their Huevis Rancheros and Pulled Pork Burrito. Aside from the tasty menu, what makes Little Tienda a favorite is their price point compared to other cafes nearby.

Ampersand Coffee and Food

If you’re in for generous servings of breakfast and lunch then Ampersand Coffee and Food should be on your list. Their satisfyingly good coffee is always served with a smile by their warm and efficient staff. This family-friendly cafe in Thornbury honestly deserves more recommendations.

Jerry Joy Cafe

Head to Jerry Joy Cafe to get a taste of their famous Wild Mushroom Hash. Or if you’re down for dessert, go for their waffles and pair it with a cup of coffee. This cafe is one of the go-to of people with diet restrictions as they serve delicious non-dairy drinks. They also have a good range of vegan, vegetarian and gluten-free options to go with their drinks. Say hi and be friendly to the dog customers too! 

Short Round

The location of Short Round adds to its character. Located in a beautiful historical building, Short Round just attracts everyone to come inside and try out their best tasting coffees. The cafe is inclusive to everyone as they have ramp access to the entrance. Their bathrooms are wide enough to accommodate wheelchairs. 

The Old Milk Bar

Once you set your foot inside, you will be greeted by the suburban and industrial vibes of this cafe. The Old Milk Bar serves only consistently good coffee. But if you’re down for other options, a lot of people put in good words for their great selection of shakes too. The Old Milk Bar has arguably the best chili scrambled eggs in the suburb.

The diverse demographics of Thornbury compels investors and businesses to continuously improve and cater to their needs. Locals love the accessibility of the suburb to anything they need. Public transportation is A+, shops and restaurants are everywhere, and if you’re looking for a semblance of nature, there are parks nearby.

Other Thornbury-related blogs:

Reservoir residents are not the only ones enjoying the facilities of Edwardes Lake Park. Because of Reservoir’s close proximity to Coburg, Coburg locals also visit this park. It’s not surprising to know that Edwards Lake Park doesn’t only attract locals because the park is truly for everyone.

For casual walkers

Edwardes Lake Park has good, easy-to-follow walking and cycling paths. People come here for leisurely walking in the morning, evening and weekends. The walking paths are inclusive and helpful for people with disabilities or those who just prefer to stay on the path.

For training athletes

Aside from the walking and cycling paths, this park also boasts of several fitness facilities which are open to the public. The facilities include: a basketball half court, skate ramps, and a wide space of greenery for mixed sports. In fact, Edwardes Lake Park is a home to several athletic clubs including Reservoir Bowling Club, Lakeside Tennis Club, and Preston Yacht Club.

For kids and families

Even on ordinary days, you could see a number of families sitting down for a picnic here. There is enough space for everyone to roam around – the kids can even fly their own kites. Playgrounds are also available for kids to use. If you’re keen on a barbecue, you are free to use the barbecue grills in the covered gazebos.

For nature lovers

Edwardes Lake Park is a home to animals too. This park is a good spot for bird watching. Ducks and swans roam around the lake and are always happy to be fed lake visitors. Furparents are also welcome to walk their dogs as long as they are on-leash.

Aside from providing a semblance of nature and serving space for fitness, Edwardes Lake Park is also a popular outdoor location for sports events and community festivals. Private gatherings are held here too. Ask some locals and they’d probably have attended a wedding reception in this park.

Parks are great additions to any community as it doesn’t only provide a space for residents to interact, it also reduces the urban heat caused by the abundance of concrete and asphalt in the neighbourhood. These generally improve the quality of life of everyone.

Other Reservoir-related blogs:

What better way to explore Fitzroy than to immerse yourself in the rich culture and artistry of the suburb? Before the 80s, there were no traces of how Fitzroy looks like today. It’s only after the gentrification of the suburb that it has transformed into a melting pot of culture and entertainment. When you think of entertainment in Melbourne, Fitzroy is the first thing that comes up. 

Here are 5 things that you can do when in Fitzroy.

Window shop or actually shop at one of the boutiques at Rose Street Artist’s Market 

In this area of the suburb, you’ll get a chance to talk to the actual artists and their works. Each stall in this market offers a unique product. You’ll quickly finish touring around the space as it’s just small. If you are a fan of local artists and you’d like to support local artistry, head on to this small space in the suburb.

Visit the Centre for Contemporary Photography

Indulge yourself in a 30-minute display of contemporary art and marvel at the good photographs displayed at the centre. Once done with the exhibit, you may want to check out the good selection of books in their small book shop. Admission is free but feel free to donate a small amount. If you are also looking for a venue for your wedding, this space is a good option. 

Book A Historical Tour at Fitzroy Historical Crime Tour

This one’s a fun activity for children and adults alike. Featured on BBC One, ABC Radio and a whole lot more popular media outlets, Fitzroy Historical Crime Tour takes on retelling history in a  different way. Facilitated by a journalist-historian, this engaging crime tour is a unique way to learn more about Fitzroy through past events.

Watch a drag show

When it comes to drag shows, there are many options at Fitzroy. Since businesses reopened, the drag industry experienced more abundance than ever. You are missing out if you haven’t tried watching a live drag show. Every drag show is different but exudes the same fun and entertaining vibe. Experience artistry, dedication and craft through watching a live drag show.

Do several rounds of laps at Fitzroy Swimming Pool

This 50m outdoor heated pool is a historic open air pool in inner-city Melbourne. This is arguably the best swimming pool in Australia with ten lanes. Aside from the actual pool, it also has a gymnasium, spa, sauna and heated steam room. 

Fitzroy appeals most to the students and young professionals because of the vibe it exudes. The older generation staying in the suburb are most likely the ones who have been here before the gentrification in the 80s happened. Given the young demographics of the suburb, there is always something new to look forward to in this neighbourhood. 

Other Fitzroy-related blogs:

When talking about bars in High Street, publishing one blog is just not enough to cover all our favorites. In this blog, we have listed more that are worthy mentioning.

Oh Loretta

Regulars love Oh Loretta for offering only the freshest dishes everyday. Their menu changes on the daily using ingredients that were picked up from markets earlier in the same morning. Oh Loretta is also thoughtful to have both vegan and non-vegan menu options Their wine list is exemplary and served by staff with knowledge and interest.

Buck Mulligan

There’s nothing more exciting than whiskey and cigar nights at Buck Mulligan as this whiskey bar has an extensive selection of whiskeys from around the world. On the other hand, if whiskey is not your first choice, they also serve beers, wines cocktails and bar snacks – in fact, regulars  love the taste of their Guiness on tap. You are always welcome to grab a book from their display. Or if you are with friends, their board and card games are also available for you to play with.

Wesley Anne

Wesley Anne is a bar that has so much personality. This low-lit bar and restaurant is a former church location. Now, the place is known for having amazing pub grubs, craft beer and live music. Regulars go here for their kangaroo dishes such as kangaroo tacos and kangaroo steaks. Wesley Anne is also a great venue for music and poetry. On some days, they host trivia nights too. 

High Street is one of Melbourne’s oldest shopping street. The way it is now is very different from how it was before. It had gone through a huge development over the years. Amazingly, remnants of its past are still there and definitely adds character to its present look. At present, Northcote locals head to High Street for shopping, bar hopping and dining in.

High Street is just one of the charms of Northcote. Many are flocking to this suburb because of its notable local amenities. So if you are looking into buying or selling your property in Northcote, reach out to us and we’d love to help. Send us an enquiry at info@collings.com.au or give us a call at +61 3 9486 2000. 

Other Northcote-related blogs:

Northcode has made its name as one the go-to places when you want to have a good time. This suburb prides itself for having exceptional options for drinking beer and wine, eating pub food, and just being in the live scene. At Northcote, it’s just right and natural for locals to wind down and enjoy a good time at night especially on Fridays and weekends.

Low Key

Starting off with the most straightforward and simplest one, Lowkey is a bar apt for its name. Regulars enjoy the selection of beers that are on a rotation to promote the most local brewers. Speaking of promoting locals, the owners of Lowkey are big fans of it. They also push other businesses to the top aside from themselves. They allow store-bought food from the nearby shops to be paired with their selection of beers and wines.

Bar Nonno

This modern European cuisine bar has a capacity of 100 people. Their service is fantastic given their huge seating capacity. The owner is hands-on and humbling waiting on tables as well, offering great wine and food service to everyone. Locals will say that their favorite at Bar Nonno are their Arancini balls and their great pasta selection, especially the papa al pomodoro. Their freshly shucked oysters are also perfect to pair with their bottle of wines.

Francesca’s Bar

If you want a different vibe from the first two bars above, Francesca’s Bar is a hip and laid-back option that might fancy your taste. With exposed-brick walls and vintage furniture, this bar has a hip vibe to it. Regulars at Francesca’s Bar appreciate its crew with solid knowledge about cocktails. Their website also features their menu with photos so you won’t be left wondering what your orders might look like. 

Northcote is a bustling and vibrant suburb at present so it may be difficult to imagine that it’s a totally different way back. It’s just in the 90s when Northcote has started undergoing a lot of changes – from then, the suburb attracted a higher socio-economic base to move in. This shift in economic demographics paved the way for the Northcote that it is today. Needless to say, it is one of the fastest-growing, and definitely one of the most sought-after, suburbs in Victoria.

Is Northcote one of your suburb choices? Discuss with your requirements and let Collings Real Estate help you in finding your dream home. Give us a call at +61 3 9486 2000 or shoot us an email at info@collings.com.au.

Other Northcote-related blogs:

Preston continues to move forward, attracting both young families and single professionals. Aside from the new bars and restaurants settling in the suburb, there are a whole lot more to expect from this neighbourhood.

In this blog, we will walk you through the many things that you can do when in Preston.

Nurture the mind at Preston Library

Preston Library is a part of the Darebin Council. Although established many years back, this library continues to upgrade not only its selection of books but also its facilities. Get your work done at the Preston Library. There are plenty of workspaces you can occupy and the staff are always friendly and welcoming of guests.

Pick an artist’s brain at Gertrude Contemporary Art Spaces

Gertrude is a non-commercial, independent gallery and studio complex for artists’ innovation and ambition. They also offer programs for artists who want to excel further in visual and media arts.

Take a leisurely walk at Ray Bramhams Gardens

The quiet and picturesque view at Ray Bramhams Garden is surely a sight to see. There are plenty of open areas and spaces to relax here. The abundance of flowers adds to the charm of this greener of the suburb.

Down a drink or two at Moon Dog World

Enjoy a handcrafted cocktail or slushie at Moon Dog World with your friends. Preston locals love how cool and hip this place is. Not only is the food good, service is also exceptional. You can definitely recommend Moon Dog World to anyone who’s planning to visit Preston.

Solve the mystery at Small Time Criminals

Small Time Criminals is an immersive game for friends or families. This one-of-a-kind entertainment business for groups opened to the public in April 2016. Live actors, clues and puzzles are all present to help players simulate a bank heist at a real two-storey ex-bank in Melbourne.

Unlike other suburbs where businesses have closed, Preston’s community is livelier than ever even after the lockdowns brought by the Covid-19 pandemic.

If lifestyle and entertainment options are on top of your criteria for choosing a suburb to live in, then Preston should definitely be included in your list. Contact us through email at info@collings.com.au or send us a quick message through our contact form if you have more questions about this suburb!

Other Preston-related blogs:

Residents of Fairfield know how busy Station Street is. Living close to Station Street means being at arms length with everything you would possibly need: health services, supermarkets, cafes, and restaurants.

The strip of restaurants in Station Street nourished and saved the growling stomachs of the residents during the Covid-19 lockdown. According to Google reviews, here are the top-rated restaurants of Fairfield locals:

Thai Station Restaurant (Thai)

For affordable, tasty Thai cuisine, Thai Station Restaurant is the go-to. Their no-fail dishes are roti and curries. Their pad grapow is also a must-try! Locals rave about the consistency of service and taste of the dishes here. Now that everything is back to normal, the restaurant is still busy for takeaways, but more and more people are now appreciating their warm dine in experience.

Str’eat Pho (Vietnamese)

The default order at Str’eat Pho is their beef pho. It’s made from quality angus beef which makes the meal tasty and exceptional. Reviews say that they frequent here for value for money. They’re always served with good portions but pay only a fair amount for a serving. The rich broth of phos are filling but you can always try it with their spring rolls to complete the experience.

Matsuya (Japanese)

This little Japanese place is always jampacked and there’s a valid reason why. People flock here to get a fresh helping of sushi and sashimi platters. And since their bottles of wine and beer are also affordable, people take advantage of it. You will always find Matsuya lively and buzzing but extend your patience a little, you will be seated in no time.

Flour + Salt (Italian)

Head to Flour + Salt for a casual Italian dinner with family and friends. Order their squid ink pasta, polenta and lumb cutlets for a filling experience. If you fancy something lighter, opt for their woodfire authentic pizza. Although people love the mains, some say that the desserts steal the spotlight. 

Fairfield Tasty Souvlaki (Greek)

The owner of Fairfield Tasty Souvlaki sure knows what he’s doing. People love their fresh salad and pita as well as their traditional gyros. It’s difficult to choose which one’s better: chicken or lamb, as they both please the palette. The good balance of ingredients turns the first timers into regulars.

Station Street restaurants may appear humble but this strip alone lets you taste the world with the different cuisines that they offer. Fairfield is a home to a diverse culture and ethnicities and it’s only fair and reasonable to have these food options around.

Other Fairfield-related blogs:

One good thing about Thornbury is that you don’t need a car to roam around and get to where you need to be. There will always be a restaurant, cafe or bar nearby wherever you are in the suburb. The environment is lovely and full of character. In this blog, we have enumerated 3 fun activities to do in Thornbury:

Take a walk with a loved one at Penders Park 

Penders Park is well-loved by the Thornbury locals for many reasons: 1) It is a perfect option for a low-stress family event, 2) it is a pet-friendly park, and 3) there are plenty of playing options for kids.

Penders Park is well-maintained with clean toilets and recycling bins to dispose of your trash in.

Be amazed at the well-curated displays at Islamic Museum of Australia

For an interactive and visually immersive theatrical experience, go to Islamic Museum of Australia. Locals who have visited the establishment are in awe of their well-curated displays that are very telling of their progressive take on Islam and Muslim history in Australia. Schools nearby are fond of organizing classes here. Individuals are also welcome to explore, observe and reflect on the exhibits. At the back of this modern building is a small coffee shop that serves plenty of good vegan options as well.

Do some sports stretching and marvel at the athletes at Darebin International Sports Centre

It’s even more inspiring to some quick physical activities with the recently upgraded facilities of Darebin International Sports Centre. DISC is owned and maintained by the local city council and a number of key groups. No wonder it’s well-maintained and audited regularly. Regular visitors of the sports centre enjoy the huge mixed sports field where they can play several sports.

The proximity of Thornbury to Northcote delivers perks to both suburbs, as both are seen to be more desirable whether you’re looking into buying or selling. Good thing Collings Real Estate can assist you with both. Simply fill out our contact form and let’s get started with your real estate journey.

Other Thornbury-related blogs:

Well-loved by its tight-knit community, Macleod is a humble little suburb with bright and sunny walkways filled with equally chirpy people. Although quite small in land area compared to other suburbs in Victoria, Macleod is nothing short of amazing with its leafy parks and wonderful cafes. 

Aberdeen Road in Macleod is known for its strip of amazing cafes and restaurants. It’s the go-to place of couples with kids and fur babies especially because of its distance to a nearby park.

In this blog, we have featured 3 of the best cafes we think you should try in Aberdeen Road, Macleod.

Touchstone Café

We cannot really put a finger on the exact reason why Touchstone Café was featured by an online newspaper. Because to be honest, you’d need an extra pair of hands to count the reasons for its greatness. Their French toasts, pancakes, scrambled eggs, smoothies, vegan, and gluten-free options are just a few of the reasons why first-timers easily convert to becoming repeat customers. Greeted by the friendly staff the moment you walk in, you would instantly feel the warm and welcoming vibe in this café.

For most people, parking, waiting time, and cleanliness are also the top cafe considerations – In this case, Touchstone Cafe amazingly ticks all the boxes.

Espresso 54

Having late lunch probably after 2pm? Espresso 54 got you covered. Famous for their sit down lunch menu and go-to options, this cafe is a delight to two kinds of people: 1) those who are just starting the day, and 2) those who might just need a quick afternoon perk-up.

If you have visited the cafe more than once, chances are the staff already remember your name and your usual order! Sit down and jam with the smooth jazz in the background while waiting for your cup of coffee. As advocates of using less single-use cups, they are generous to slash 50 cents off of your order if you bring your own cup!

Sitting down with your dog? Have your furry friend try their puppercino too!

Mr. Macleod

The country vibe of Mr. Macleod matches well with their range of all-organic menu. Aside from the default consistently good coffee, people just keep on coming back for their monthly special burger. Regulars go for brunch and seal the experience with their honest-to-goodness cakes.

This family-friendly cafe is always prepared to accommodate everyone including babies and kids with their prams and high chairs. Don’t let your kid miss out on their special babycino for kids!

You can always count on a cup of coffee to lift up your mood. Spoiled with great choices nearby, people in Macleod are surely enjoying their fill regularly.

Other Macleod-related blogs: