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March 15, 2023
Things You Need to Know If You Want To Sell Your House After Retirement Pt. 2

Things You Need to Know If You Want To Sell Your House After Retirement Pt. 2

Things You Need to Know If You Want To Sell Your House After Retirement Pt. 2

Retirement brings with it the possibility of starting your life anew. You can think of it as a reset. This time, you are wiser-able to understand things that may have appeared daunting and scary during your foolish youth.

And one of the points that retirees look to for comfort and rest is the property they have invested in. But then, this is not always the case. Sometimes, selling your house after retiring might be a better idea.

Here is the second installment of our piece on selling your property upon retirement. In this segment, we will look at why doing so may benefit you. 

Reasons to Sell Your Property

Desire to downsize

Desire to Downsize

Investing in a smaller home might seem like a good idea now that you’re older. The kids may have already moved on to build their own lives, leaving you and your better half living in a bigger space that may not make sense to you. 

Buying a smaller house would be practical as this would entail less maintenance and energy costs. 

While retirees and other home investors might see renting as impractical, it does bring some advantages. Among the notable ones is the absence of maintenance expenses and insurance deductibles. Homeownership requires these of property owners apart from issues of rising inflation and taxes. Renters are free from liability costs like equipment failures or calamity-caused property damages.

The only risk retirees are open to if they opt to rent is that they cannot control their landlords if they want to raise the rent.

Apart from selling your property in preference of renting out, you will avoid paying steep property taxes. 

Funds from equity

Funds From Equity

You can release your fund from home equity may if you choose to move to a smaller property. 

However, the proposed changes to Australia’s Home Equity Access Scheme (formerly Pension Loan Scheme) now offer more attractive benefits for retirees who choose to keep their properties. 

On January 1st, 2022, Australians who own a property within the country and are eligible for a qualifying pension may use their home as security for a loan.

The Home Equity Access Scheme allows borrowers to keep living in their family homes without selling their property. On top of that, they do not have to repay the loan within its term.

Boost Your Super, Look Into Downsizer Contribution

Boost Your Super, Look Into Downsizer Contribution

The Downsizer Super Contribution allows eligible Australians of 65 and older to direct some funds from selling their family home into their Super. The maximum amount an individual can contribute is $300,000 per person. As this is the case, a couple is allowed to contribute up to $600,000. 

Apart from not being compelled to settle for a smaller property, the advantages of making a Downsizer Super Contribution are two-fold:

Top Up Your Super Balance

If you are retiring without a substantial amount of savings on your super, it’s not too late. You can use the Downsizer Contribution to increase your Super’s balance.

Pay Fewer Taxes

Use the Concessional Tax Treatment of the Super System to get fewer taxes.

You become eligible for this if your contribution remains unmoved from the accumulation phase of the Super. The earnings accrued on this amount will get a 15% tax. You may also use your contribution to start a Super income stream. As a result, you will get 0% taxes.

Investing the sale proceeds in your name requires you to pay tax on earnings based on your marginal rate, along with the Medicare levy.

Making lump sum withdrawals is yet another good option as it is tax-free.

Finally Getting The Home of Your Dreams

Finally Getting the Home of Your Dreams 

If you use your retirement funds well, you can choose to move into the house of your dreams. 

They may also opt to use the proceeds from their sale to build their ideal home. If you plan to do so under Age Pension, you may need to undergo an Assets Test. As the name suggests, the test will determine the value of your assets, with the exception of your Principal Property. 

The money acquired from the sale is exempted for up to 12 months should this be the case. 

Should You Sell Your House Upon Retirement?

With all the reasons the article has laid out, choosing to sell your house when you retire might prove a gratuitous move for your finances. However, we need to reiterate that your financial situation must decide that. Selling your property without making a comprehensive assessment will only lead to possible dismay or regrets in the long run. 

Letting go of something you have held dear throughout the years is not an easy thing to do. Doing so requires you to train yourself to let go without attachment, knowing that something better is in the cards for you. 

Other selling-related blogs:

What you need to know if you want to sell your house after retirement Preparing to sell Preparing your home for a spring sale

Securing the best tenants

Securing the Best Tenants

Securing the best tenants

Trust is a big factor in screening the best candidates for your property. As everyone knows, trust is earned. But the pressing question is, how do you know if you can trust someone with your prized possession? 

Set a tenant application criteria

Set tenant application criteria

Setting a tenant application criteria is a straightforward approach to:

  • Filter your candidates according to your standards
  • Attract like-minded candidates to consider your property.

The standard criteria to look for are the following:

  • Minimum income requirement
  • Previous accommodation history
  • Character references from their previous and current employers 

During the screening process, be mindful of your approach to not discriminate against any classes. These information are enough to save you the time and headache of dealing with these common tenant problems:

  • payment problems 
  • prior eviction history 
Aim for long-term occupancy

Aim for long-term occupancy

Run research on what tenants are looking for in a long-term rental. We are not looking to just sign the lease here, we are looking into securing long-term tenants to minimize the cost of frequent rental expenses and the potential damage of tenants moving in and out.

Make sure that your property has everything that they could possibly need. The least thing you want is for them to continue shopping for options even if they have already settled in your property. Know your demographics and what they value. Below are some examples of what renters are looking for in a property that are in your control as the rental provider:

  • Maintenance – Ensuring things are fixed in a timely and regular manner provides reassurance to the tenant that you want them to be comfortable during their duration in the property.
  • Price – Everyone is conscious that rent is an expense. The cheaper a rental property is, the longer a renter will most likely stay within the property. It is a fine balance between maximizing your rental return and keeping it at a level that will promote a tenant to stay in your property. Consult your Real Estate agent for their opinion on how to maintain the balance. 
  • Essentials – Certain demographics of renters will require different things within the property. It is imperative that you consult with your agent to identify what tenants are looking for. E.g. Families with young children require a bathtub and generally prefer an outdoor area for their children. 

You attract what you are ready for. Preparing your property to be competitive in the market is the best way to attract the best candidates. How you present your property before tenancy sets the standard on how you are expecting to see it post-tenancy. Tenants will be encouraged to respect and keep your property in good shape once they see that the landlord is doing the same.

Maintaining Great Relationship Between Property Owners and Property Managers

Maintaining Great Relationship Between Property Owners and Property Managers

Maintaining Great Relationship Between Property Owners and Property Managers

If you are a property owner, you may find yourself juggling one too many responsibilities. This is especially true if you own a number of properties. It’s in this kind of situation where property managers may come in to your rescue. Entrusting your property to someone is not an easy feat but a possible one. The question is, where do we start?

Establish the responsibilities

The common responsibilities of a property manager are the following:

  • advertising and promotion of vacant rental properties through online and offline advertising
  • tenant eligibility screening
  • liaising between the tenant and landlord during the leasing process
  • conducting house inspections and reports

Simply put it, these are the responsibilities that could be lifted off from your shoulders. But if you think that you require help more than the ones included in this list, you could surely find an agency that could cater to your additional needs. You just have to be clear, precise and transparent with your needs.

While we’re on the topic of finding the perfect fit, when looking for a rental property agency, you can use these questions as guide:

  1. What is their leasing process? Are there options as to how to access maintenance requests, statements and other documents that you can check anytime of the day?
  2. Do they have a list of in-house maintenance for urgent tenant requests? Do they have a list of trusted service partners?

Knowing the agency’s internal processes and systems is a good gauge to figure out if they fit your criteria.

Establish the responsibilities

Maintain good lines of communication

The landlord and the property manager should agree on schedules and channels of communication. This way, both are able to strike the balance between communicating enough and asserting boundaries. Both landlords and property managers are expected to respond promptly through the agreed channels.

Set realistic expectations

Set realistic expectations

Establishing trust between two parties isn’t built in days. Trust is built over the course of harmonious relationship for months or years, even. During the course of the engagement, there will surely be bumps along the road. When experiencing challenges, focus on how your property managers handle the situation. This will instead give you the perspective of how good they are in carrying out their responsibilities.

A good relationship between a landlord and a property manager means increased tenant satisfaction. This will therefore lead to a pleasant and profitable experience for everyone involved. Customer satisfaction is essential to keep a tenant and increase the likelihood of them renewing their contract.

Other property management-related blogs:

What is Property Management 4 Tips to Land Your Dream Rental Rental Law Changes presented by Collings

6 Things You Should Do Before Buying a Home With Your Partner

6 Things You Should Do Before Buying a Home With Your Partner

6 Things You Should Do Before Buying a Home With Your Partner

Buying a House Paves The Way To an Ideal Future

Buying your own home is a milestone whether you’re married or in a relationship. Buying a house together cements your lives and paves the way to an ideal future. While it sounds like an exaggeration, couples who plan on living their lives together take discussions on assets and property seriously. 

Depending on who you ask, the definition of asset and investment varies when discussing real estate properties. 

Modern-day financial advisors believe that when you buy property, you should ensure that it earns money in the long run. Meanwhile, real estate pundits say that properties only appreciate when the surrounding area or its neighborhood is close to commercial developments. And while these are all sound, sometimes couples only consider togetherness, privacy, and proximity to several conveniences when buying a property.    

So when you and your significant other have decided to buy a house, you should look into certain things first.

This article outlines six things to consider before buying your first property with your partner.

6 Things To Ensure Before Buying a Property With Your Partner

Determine your priorities

Determine Your Priorities

Despite being partners, your individual needs and wants may still differ. After all, no couple is ever perfectly in sync with how they think. That said, determining your priorities and mindset on buying a home should take precedence. You and your partner should discuss your house preferences and ascertain which you could negotiate and compromise. This will make it easy for you to look for the house you both would appreciate.

Agree on ownership

Agree on Ownership

After clearing up your house preferences and meeting common ground, the next challenge is deciding the type of ownership you want your property to be. This is of greater significance if the partners have yet to marry or have settled for cohabitation. We give attention to these types of relationships in light of the legalities and arrangements associated with owning common assets and properties. 

The couples are presented with two types of ownership they can choose from:

Joint Tenancy

In this type of ownership, the property is jointly owned by one or more parties. If one passes away before the other, the other party gets the rights to the other one’s share. This is called the Right of Survivorship.

Tenancy in Common 

This type of ownership arrangement means two or more parties may share varying portions of a property. Tenancy in Common allows the other party to buy out the other party’s share to gain full ownership. Tenancy in Common works for both residential and commercial properties. 

Tenancy by Entirety

The Tenancy by Entirety arrangement refers to ownership where the couple is considered one. Like the Joint Tenancy, each party has the Right of Survivorship.

Understand the True Costs and Value of Your Prospective Property

Understand the True Costs and Value of Your Prospective Property

The couple needs to understand the costs that come with buying a property. This does not only mean knowing the upfront costs of the property but also the other fees that succeed the purchase. Maintenance fees, taxes, mortgages, and the like are major considerations when deciding to buy a house. 

Determine If You Need Financial Help

Determine If You Need Financial Help

If you do not have the initial funds for payment, you and your partner may consider applying for loans. Buying a house is a major purchase. As this is the case, every bit of financial assistance might help.

You may also look into applying for a joint mortgage. However, your credit reports and credit will be accessible to future lenders. While this is completely normal, some people are not necessarily comfortable with sharing such information. Another apprehension is that some might feel discriminated against as their credit history determines if they would be approved to make a housing loan.

Have an Exit or Contingency Plan

Have an Exit or Contingency Plan

The painful reality is some couples do not last long in their relationships. Because of this, when they buy a property together before marriage and the relationship falters, the legalities mess them up more. To safeguard the couples from further complications, they should set an exit strategy. This should be handled legally to avoid possible lawsuits and litigation. To serve this cause, filing the necessary documents should be the couple’s top priority.

File the Necessary Papers

File the Necessary Papers

In case of separation or death, the two parties have to get their paperwork straight. Living arrangements enable the couples to draw lines of responsibility that they have the option of binding legally. 

Couples also need to get their will for their next of kin or beneficiary of their property upon death.

Living Together Means Being Responsible Together

If you and your better half are planning on buying a house together, you have to prepare beyond the immediate costs.  Apart from making the appropriate legal arrangements, making your living conditions work wholly depends on your relationship. If things go smoothly between you and your partner, the rest of the processes will fall smoothly into place.

Other buying-related blogs:

Buying a house with a partner Questions to ask before buying your first home As a first time real estate buyer, when should I buy?

Melbourne's Top Walkable Suburbs

Melbourne’s Top Walkable Suburbs

Melbourne's Top Walkable Suburbs

The importance of walk score when choosing a suburb wasn’t as stark as it was before the several lockdowns caused by the Covid-19 pandemic. The limitation in activity radius made people realise two things: 1) how important physical health is, and 2) how important it is to be close to important community amenities such as cafes, shops, parks and public transportation. Thus, after the series of lockdowns, both buyers and sellers put walkability, proximity to open-air and promotion of health and social living as their top criteria in choosing a suburb.

Suburbs where walking safely isn’t a struggle is now a top priority. The truth is Australians love to walk. It is the most accessible low-impact exercise that everyone can do especially that 40% of the Australian population do not have access to private transport. This includes kids, teenagers and senior citizens.

Walking may be simple and straightforward but it has huge benefits not only to individuals but to the society as a whole. In a community where people walk, there are less cars. Less cars mean lower carbon emissions. This benefits the air quality for everyone. Walking also promotes healthy lifestyle and prevents the risk of the populace to develop conditions like heart disease, type 2 diabetes and high blood pressure. Investors and business owners factor in these as well when choosing a new area for their business and developments.

What are the top Walkable Suburbs in Melbourne?

While some suburbs are in the process of walk score improvement, these five suburbs are already leading the game with their high walkability score:

Melbourne's top walkable suburbs - Carlton

Carlton

Carlton is a great multicultural suburb with everything within reach. It is the top choice of uni students as it is close to Melbourne University. There are also plenty of restaurants and cafes close by to chill and hang out too.

Melbourne's top walkable suburbs - Fitzroy

Fitzroy

Fitzroy is the suburb for all things cool. Surrounded by lots of street art and good cultural representation, people just love to walk here. There are also lots of nice parks and cool bars and cafes everywhere. 

Melbourne's top walkable suburbs - St Kilda

St Kilda

St Kilda is accessible to what the best of nature can offer: beautiful beaches and gardens. This hip suburb also has a wide offering of fantastic cafes, bars and restaurants.

Melbourne's top walkable suburbs - South Yarra

South Yarra

South Yarra appeals to the younger age group with its vibrant crowd. There are lots of places to eat and drink here. For days you crave a semblance of nature, you can walk to the botanical gardens, Yarra River, and the beach.

Melbourne's top walkable suburbs - East Melbourne

East Melbourne

East Melbourne is a serene suburb surrounded by beautiful old heritage houses, wide tree-lined streets, and parks.

Providing insights on walkscore helps renters, buyers, and sellers make more informed decisions. At Collings Real Estate, we take pride in providing quick insights to website visitors through our property tools where Walkscore is included:

Property tools - Collings Real Estate

So if you are looking into buying, selling or renting properties in Melbourne, especially Victoria, Collings Real Estate is happy to assist you with your requirements. Simply fill out our contact form or give us a call at +61 3 9486 2000.

Read more about Victorian suburbs here:

Street Arts in Fitzroy Why invest in a Reservoir Property? Walk Score: What It Is and What Makes It Important

Preparing the property for tenancy

Preparing the Property for Tenancy

Preparing the property for tenancy

Comply with the standards.

Your property is required to meet the standards written in the law, that is a given.

First things first: guided by the Residential Tenancies Act, your property must comply with all the requirements. Basically, you have to ensure that your property is habitable according to the standards of your city. In Victoria, here are some of the minimum standards that you have to comply with:

  1. External locks should have functioning deadlatches or be fitted with locks that can be unlocked with a key from the outside but can be unlocked without one from the inside.
  2. Vermin-proof bins must be supplied to the tenants.
  3. Toilets must be in a separate room in the property, either by itself, or in an appropriate room like a bathroom or a combined bathroom-laundry.
  4. A bathroom must have a washbasin and a shower or bath, and be connected to a reasonable supply of hot and cold water.
  5. Ventilation must be adequate in all rooms, including the bathroom, shower, toilet and laundry room.

For the full list of the minimum standards, refer to this page. If you are unsure about the laws relevant to your property, consult a property manager or real estate agent. Reasonably, a good property manager or real estate agent will use their expertise to the best of their abilities. They will lift some responsibilities off your shoulders and make the whole rental process as smooth and stress-free as possible.

As much as it is aesthetically pleasing, it should also be functional

As much as it is aesthetically pleasing, it should also be functional.

Photos and videos are probably the things that caught the attention of your soon-to-be tenants. Having an aesthetically pleasing property is one thing, offering a completely functional space is another. The basic necessities of the new tenants must be attended to. Be extra mindful of the things that need repairing. Most of the time, we miss essential things just because we’re so used to them: chipped paint, broken tiles, mouldy gouts, and dripping taps. This doesn’t only apply to the interior of the property. Replace your rusting letter box and repair your fence. Carry out any repairs needed to ensure that your home is in top condition. 

Check if the latest bills are paid. If not, confirm whether it is you or the previous tenant who needs to settle it.

Pay attention to the kitchen and the bathroom.

Pay attention to the kitchen and the bathroom.

The busiest parts of the house are the kitchen and the bathroom. These two areas receive the most traffic and are the most prone to fair wear and tear. Needless to say, these areas should be the focus of your deep cleaning. Make sure to dust off, wipe off or even steam wash your:

  • carpets
  • curtains and blinds
  • fly screens
  • windows
  • garbage bins

Make sure to check these areas first before you move on to the other areas of the house. Most of the time, addressing the kitchen and bathroom issues means addressing half of the property concerns already

Consider what to leave behind

Consider what to leave behind.

If you have personally used the space and decided to rent it out to other tenants, there may be furniture and appliances that are thinking of leaving behind for two reasons: 1) even though old, these things may add value to the property, and 2) these things no longer fit the aesthetic of the space you’re envisioning. Communicate to the soon-to-be tenants that these things are meant to be functional, and not just clutters. White goods and appliances are something that your tenants might appreciate. A good and working refrigerator or dishwasher can add value to your property.

Comply with the standards

Cross check your depreciation report and walk through.

Prior to your tenant moving in, schedule a walkthrough to document the existing condition of the property. To ensure that everything is inspected fairly, having the inspection attended by both the landlord and the tenant is necessary. Prepare a checklist that you will both tick-off and sign at the end of the inspection. Copies should be distributed to both parties to ensure that proper documentation is done prior to moving in. Apart from the walkthrough, get a depreciation report as it is helpful in minimising your tax obligations.

Other property management-related blogs:

Tips for managing your tenants What is Property Management Rental Law Changes presented by Collings

Northcote Social Club

There is Something For Everyone at the Northcote Social Club

Northcote Social Club

The music throbs into the night as the lead vocalist smiles at you across the floor. He seems more than just a nice and talented bloke. You feel like he’s an ol’ cobber. Or maybe even a lover. You smile. He winks. Then all of sudden your body cannot help but give in to the dictates of the deafening bass that reverberates on the red brick walls. Not far from the crowd, among the wooden tables and the parasols, your girls raise their wine glasses to a good time, mindless of tomorrow; living for the now.

The night is vibrant at the Northcote Social Club. And you feel like there is nowhere you’d rather be this Friday evening. 

‘Good pub grub’ says one of the reviews. But it is more than just that. The Northcote Social Club is a place thriving with Aussie interaction regardless of their identities or chosen stereotypes. 

Vibrant and Thriving

Vibrant and Thriving

While some would say they do not like the ambiance, the food is simply good, hands-down. The Northcote Social Club boasts a wide range of food selections not seen in any other pubs in the area. The starters impress with international options including the likes of Szechuan Fried Squid, Pea & Ricotta Croquette, and Toasted Cauliflower Nachos. Meanwhile, Parmas, Fish and Chips, steak sandwiches, burgers, and mash grace the pub’s counter meals. And if you think they can do better, they actually do. The main dishes include Pan Roasted Salmon, Scotch Fillet, Broad Bean Orecchiette, and Half Roast Chicken.

The Social Club’s salad menu is a curious and delightful segment as it offers standout salad items like Roasted Coconut blessed by a mixture of wombok, cucumber, carrot, cashews, fried shallots, mint,  coriander, lychee, ginger, and lemongrass dressing and Confit Beetroot which includes asparagus, soft herbs, whipped goats cheese, vincotto, and crisp bread.

But not only that, first-time pubgoers would be thrilled to know that the menu offers vegetarian, vegan, and gluten-free versions of their dishes. 

If you want to see more of what the Northcote Social Club’s menu has on offer, check out their menu here.

Well-crafted beers, wine, and various cocktails run aplenty in Northcote Social Club. The names of these drinks stretch from the familiar to the unknown, enticing the clients to give them a sip.

While the service could be better, the food, the drinks, and the vibe are more than enough reasons to frequent the Northcote Social Club even during weekdays. 

The atmosphere exudes inclusivity and togetherness exceeded only by the pub’s hosting of live bands. The musicians vary in genres, but all astound with talent. From alternative to rock, solo acts to bands, the pubgoers are sure to be entertained as they watch their live performances. 

Find the complete list of their upcoming events this year here. 

Notable Reviews for Northcote Social Club

Notable Reviews

But do not just take our word for it here are some honest reviews from Northcote Social Club’s patrons:

 

Classic Corner Pub with a Band Room

Traveled to Melbourne specifically for a gig at the Northcote Social Club. We weren’t sure what to expect but found the venue to be outstanding!

Social, friendly, and fun atmosphere. A with that classic pub vibe. Wide range of beer and wine at a reasonable price and plenty of seating/standing/perching inside.

– ButterflyBlack from tripadvisor.com 

 

Nice dinner on the deck

Great parking here just behind the pub. Turn down hawthorn st off high st and park there. Lots of variety in wines and beers. Had a nice table which was cool on a warm night. No one complained about their meals and service was great. Eggplant parma, chicken parma, beef burger steak sandwich, and fish and chips were all good. A cool venue

– 282LisaH for Northcote from tripadvisor.com 

 

This place rules. Somehow they manage to perfectly hit that balance between maintaining a top-notch pub that’s clean with great food if you want an afternoon lunch or dinner but at the same time host awesome live music shows.

Great beer garden in the back too where you can smoke. I love coming here, always a good time.

– Steven V. from yelp.com/ 

 

When I first visited this place I have to admit that I wasn’t all that impressed with it, however over time my opinions have begun to change. Okay, it certainly isn’t one of my favourite bars, and Northcote has some pretty good offerings that I prefer much, much more, however, this place isn’t anywhere near as bad as I first thought it was. For one thing it is a live music venue (though they have a room set aside specifically for the music) and there is a nice deck out the back (which later in the night becomes the smoking bar. They also make some decent chips, as I discovered when I met up with a friend here for a bit of a chat. While I won’t be rushing back here any time soon, it still is a pretty decent place to spend some time.

– David S. from yelp.com

 

Great staff. Friendly patrons. Sunday lunch for 3 of us; barramundi, parma & Sunday roast pork belly – all delicious! Will definitely return. Generous portions without being gluttonous. Reasonably priced.

– JilindaH from opentable.com.au

The doors are open at Northcote Social Club

The Doors Are Open

There is plenty to love at the Northcote Social Club. Leaving no one behind, the pub offers varying delights that are fit for any preference.

So take this as an invitation to the Northcote Social Club.

You can find them at:

301 High Street,

Northcote, VIC 3070

Wurundjeri Woi Wurrung Country

 

You can also reach out to them by mail at bar@northcotesocialclub.com and by phone: (03) 9427 1158

On Mondays, the Northcote Social Club’s doors are open from 4 PM to late and from Tuesday to Sunday from noon onwards.

So step in. Stay. Be yourself at the Northcote Social Club.

Other Northcote-related blogs:

Shops in Northcote Part 1 Biking culture in Northcote Shops in Northcote Part 2

Melbourne apartment hunting

Melbourne Apartment Hunting

Melbourne apartment hunting Melbourne is one of the most sought-after cities in Australia. This is followed by the fact that people from other cities (and other countries as well) flock to Melbourne to spend the most part of their lives. But just like in any other cities, buying a property in Melbourne is not an easy feat. Many test the waters first by renting out apartments before saving up for their first Melbourne home.

If you are looking into renting out an apartment in Melbourne, we have some tips for you. Choose your neighbourhood

Choose your neighbourhood

We’re talking about a big city here so every neighbourhood has a distinct characteristic that sets it apart from the others. 

  • Are you a beach bum? Williamstown, St. Kilda and Elwood are the popular choices for beach bums like you. But you must take note that properties in this neighbourhood are priced higher compared to others. 
  • Do you want to be close to where the action is? The premium of having an inner city address pays off well. Having more than ample choices when it comes to cafes, restaurants, shopping malls and other amenities is something that you would surely enjoy.
  • Are you a student on a budget? Footscray, Moonee Ponds and Yarraville are the go-to options for students on a budget. Cheap groceries are readily available in these suburbs along with their steadily affordable housing options. This part of the west has some of the fastest growing neighbourhoods in Melbourne.

Be clear on what you want

Be clear on what you want.

You could easily get swayed by the number of good options in the market so be sure to identify your non-negotiables. Narrow down your search by specifying your needs and wants. Create a must have vs a nice to have list where you could put criteria such as number of bedrooms, balcony, parking space, type of flooring, etc under the category where they belong.

Attend open houses

Attend open houses (to also get to know the agents.)

For sure, the best way to inspect your shortlisted properties is by attending their open house schedules. Aside from looking into the nitty gritty of the property, you can also take the opportunity to get to know the agents. Knowing the agents will give you the idea of what the property management style would be in case you close the deal with them or their team. 

Get notified through property alerts

Get notified through property alerts

Once you have shortlisted properties that fit your criteria, there would surely be real estate agents or agencies that would stand out. You may want to go directly to their website and sign up for property alerts. You surely don’t want to miss out on better options to include in your list. 

Prepare your requirements

Prepare your requirements

If at this point it isn’t clear yet: Melbourne’s rental market is hot and properties go fast. Make sure that you have everything prepared. Present the following as soon as you can and make sure that you got this in the bag, literally and figuratively:

  • Government-issued identification card
  • Proof of residency
  • Copy of driver’s license
  • Proof of employment
  • Medicare card
  • Student card
  • Verification of employment and verification of income
  • Reference from a neighbour

Whether you are renting to test the waters in the neighbourhood first or in it for the long haul, apartment hunting shouldn’t add stress to your life. With thoughtful and well-executed plans, securing your Melbourne apartment is totally feasible.

Other apartment-related blogs:

3 important things to consider when purchasing an apartment Common Apartment Problems Having the experience of selling properties in the same building, Stefan knows exactly the type of demographics to target.

331 Victoria Road, Thornbury

331 Victoria Road, Thornbury: A Case of Changing Selling Methods

331 Victoria Road, Thornbury

Originally planned to sell via auction method, Fedja Bilic and the whole Collings Real Estate team behind the campaign of 331 Victoria Road, Thornbury turned “passed in” into “another possibility.” With the highest bid still below the reserve price, Fedja assured the vendors that although the Auction may have been unsuccessful, the property would still sell. The method of sale was then changed from auction to private negotiation after careful consideration.

Instantly, the Art Deco Style residence may look appealing to first time homebuyers, professionals or investors considering its features. But through the eyes of an experienced real estate agent, the angles and possibilities are endless.

“Throughout the campaign, the property was tenanted. In most cases, we don’t advise our vendors to sell the property with the tenant in there. However, we did believe that the demographic of the buyers we were going to be targeting is most likely developers or someone looking to transform the property into their dream home. Having a tenant in there would then be advantageous while waiting for their plans and permits.” said Fedja.

331 Victoria Road, Thornbury 331 Victoria Road, Thornbury

This approach hit two birds with one stone: the vendor maximising their rental return while attracting the best candidates for the property. Everyone is aware of how crucial time is in selling a property. And so after counting 60 days before the end of lease, the campaign was launched to ensure flexibility if an owner occupier purchased to provide the opportunity to purchase with vacant possession. 

It helped that the professionally photographed areas of the property were uploaded to real estate marketing platforms for the targeted demographic to see. According to Fedja, the property was marketed across realestate.com.au as well as domain.com.au where it reached approximately 5,000 people. To reach its maximum potential views, Collings Real Estate also ran a social media marketing campaign where they reached an additional 16,000 people. The photos of the property garnered approximately 21,000 online views in total.

These views translated into 43 buyers through the doors. One lucky purchaser finally bought the property after a couple of days of negotiation. The offer was $1,215,000 which the vendor was happy to accept.

This particular case speaks so much of how being sharp-witted is important in selling properties. While we all know that theories and applications can be learned through reading and observation, it’s only through experiences that actual skills can be honed over time.

Other Northcote-related blogs:

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Curtain, blinds, and rods safety

Curtains, Blinds and Rods Safety

Curtain, blinds, and rods safety

Landlords have the responsibility to keep the property a safe place to live in. The landlord may be sued for negligence in cases of death and injury due to failure of carrying out this responsibility. However, once tenants occupy the space and have customised the space to their liking, they immediately share this responsibility with the landlords. Since they occupy the property, they are responsible for avoiding hazards caused by their actions. 

Sometimes, it’s the inconspicuous things that may pose hazards such as curtains, blinds, and rods. This is especially true when you are living with pets and children. 

Rental Minimum Standards Involving Curtains and Rods

For rooms that are likely to be used as bedrooms or living areas, landlords must provide curtains or blinds that can be closed, block light and provide privacy. Consumer Affairs Victoria has a list of minimum standards for this. To ensure the safety of everyone, they are also providing free curtain and blind cord safety kits that you can use for your property.

Curtains, Blinds and Rods Safety

Below are some guidelines that tenants and landlords could follow to prevent accidents involving curtains and rods.

Make sure that cords and loops are at the right height.

Make sure that cords and loops are at the right height.

Avoid floor-length curtains and blinds which children and pets can play with. Make sure that your curtains are long enough for you to reach but short enough for your children and pets to play with.

Check the placement of your furniture.

Check the placement of your furniture.

Place tables, chairs, and other furniture that pets and children can sit in, stand, or climb on to away from the window.

Make sure that the blind and curtain rods are functioning properly

Make sure that the blind and curtain rods are functioning properly

Check for loose or looped cords that could possibly pose a risk to the young ones. If they are functioning properly, make sure to secure them when not used.

Keep curtains away from flammable items

Keep curtains away from flammable items

Keep them away from candles, stoves or anything that could ignite a fire.

Renters and owners have the shared responsibility of ensuring the risk inside a property is minimised. Concerns should be raised and addressed as soon as possible. 

Other rental-related blogs:

Rental Law Changes presented by Collings Short term vs long term lease What is Property Management

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