Contributed By: Mike Phipps Finance on

We live in uncertain times. Disruption is everywhere. Unpredictability is the new normal and in a world of constant change who would dare to suggest what 2018 might hold. Yep, you guessed it, I’ll have a crack! Let’s look at 2018 with crystal ball in hand and tongue firmly in cheek. In no particular order and based on nothing but wild guesses, blind hope and a generous serve of optimism here we go………. 1. The word Like is banned from use by anyone under the age of 35, thereby rendering speechless an entire generation and having absolutely no negative impact in the national discourse 2.Read More →

Contributed By: HiRUM Software Solutions on

Article originally appeared in HiRUM Industry Blog Find links to resources and information that will help you become ‘Games’ Ready. With the impending ‘Games’, things are going to get extremely busy in Queensland. With 6,600 athletes, 15,000 volunteers and 1.5 million spectators converging on the Gold Coast, Sunshine Coast and as far as FNQ. Given the number of people visiting and with the ‘Games’ craziness about to begin, you want to make sure your business is ready and that you are as prepared as you can be. At HiRUM, we are in the process of planning; coordinating staff travel plans and re-organising deliveries etc. ThereRead More →

ARTICLE BY JOHN PUNCH Ever since management rights sales began some 38 years ago, the standard method for calculating a sale price has been to apply a multiplier to the net operating profit of the business, for a one year period preceding, but ending as close as possible to the signing of the contract. Some lawyers and accountants are now proposing to allow for adjustment of the sale price at settlement to take account of any lots that may leave the letting pool between the signing of the contract and the day before settlement. Generally, we find that as soon as we inform any sellersRead More →

I recently had an interesting discussion with one of our managers, lets call him Geoff, whose Body Corporate committee had very generously advised him they were concerned he was being underpaid. Our manager asked me how much remuneration I thought a manager of a complex of his size and location should be paid… and I’m embarrassed to say, all I could do was shrug my shoulders. You see although I’ve worked in this industry for over a decade, speak to dozens of onsite managers every day, and am a licenced letting agent myself… The truth is, I personally, have never worked as a caretaker andRead More →

Contributed By: Mike Phipps Finance on

Here’s a scenario. Imagine that you have accidentally killed someone or maybe you have committed a major white-collar crime such as embezzlement. Now, imagine that you’ve gotten away with it. Years have passed and you’re in the clear. Trouble is, you are overwhelmed with guilt. Maybe you’ve had a change of heart, or just genuinely become a better person, and you wish to set things right. What should you do? Turning yourself in might give a sense of relief, closure and justice to those affected by your crime, but it will also cost the state a whole lot of money to investigate your crimes andRead More →

Contributed By: Nick Gorrell on

The World of technology relentlessly changes how we do day to day activities that we currently take for granted, we have seen the likes of google, airbnb, uber and VR come from nowhere to become the accepted norms. I recently found this interesting video on a service being used for property management in California US and thought that you would enjoy watching it. While I suspect that this service may not be the final answer to providing ultra efficient and cost effective rental agents (quite a few of the prospective tenants I have met are more likely to ‘borrow’ the robots than politely interact withRead More →

Contributed By: Holmans Accounting on

One of the most hotly debated and often misunderstood concepts when determining the profitability of an accommodation business is the concept of ‘maintainable income’. The concept of ‘future maintainable earnings’ is a longstanding valuation principle, and possibly the most commonly used method of valuing an accommodation business is the capitalisation of the maintainable earnings of the business. In a management rights context, the capitalisation rate is referred to as the ‘multiple’, whereas in other accommodation businesses it is generally expressed as the return on investment percentage or ‘capitalisation rate’. Determining the multiple or capitalisation rate is very much the domain of the valuers and agentsRead More →

Contributed By: The Onsite Manager on

Last week RealEstate.com.au committed some resources to our managers to pull together a webinar that explained how to maximise rental marketing services with their portal. The feedback our managers gave us was that they found it really informative and useful. A lot of managers wanted to attend the webinar but, as you’d know if you are an onsite manager, they were otherwise engaged at the time. In light of this, REA have put the webinar into a video format so our managers can recap. You can watch the video here: https://rea-group.app.box.com/s/lztw0qvhwoh5jcco286vzjal0ja8jjpq Don’t hesitate to post any feedback or questions in the comments below.Read More →

Contributed By: Mike Phipps Finance on

Thank god for the Australian press and in this case The Australian newspaper specifically. Here I am sitting at my desk after a nice Saturday morning bike ride with a chronic case of writer’s block. I have some vague idea that I want to talk about how badly the general public and even our industry professionals misunderstand banks, but I can’t seem to find the right introduction. And then, like a sign from heaven there it is…………a banking industry article with the following comment “Interest only loans also allow a borrower to access larger loans, which has helped drive property prices higher”. In what universeRead More →

TheOnsiteManager.com.au frequently gets introduced to many products, including landlord insurance, catering to the real estate industry. With our managers in mind, we assess the overall benefit of each product. Recently, Australian Landlord Insurance (ALI) presented an offer to us to take to our managers. We are pleased, on behalf of ALI, to offer to you landlord insurance for just $320. This represents a reduction, in most cases, over landlord’s current policies but also provides your clients with additional cover in many areas. Also note that the normal cost of a ALI landlord insurance policy in Queensland is $325. ALI’s product is extremely competitive in theRead More →