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 →

Contributed By: Short Punch & Greatorix on

When the original Body Corporate and Community Management Act 1997 was drafted, it contained a provision that made it illegal for a Body Corporate to seek, or accept the payment of an amount, or conferral of a benefit for itself for the engagement of a person as a Service Contractor (“Caretaker”) or authorisation of a person as a Letting Agent.  These ultimately became Sections 113 and 115 of the Body Corporate and Community Management Act 1997, in which they are also extended to cover replacement or renewals of any engagements or authorisations. The provisions worked well to protect Caretakers and Letting Agents from being heldRead More →

We used to think that getting to settlement was a normal process over about 90 days with maybe a bit of renegotiation on verification but due diligence and finance were fairly straight forward if we had qualified our buyer and committee approval was a given. What happened? Now we see more contracts fall over than ever before and extensions requested with almost every deal and finance can take 42 days or more. Buyers are providing more information than ever before and sometimes Sellers not enough. I think we all need to understand that the criteria has changed in the past couple of years. Sellers needRead More →

Contributed By: Nick Buick on

Yesterday I was invited along to the BNE Airport Business Advisory Group Airport Tour. They hold these tours once a year to communicate to the business community their strategy and roadmap for the future. I’m pleased to report: it’s a very good roadmap and one of the things that makes me excited to live in South East Queensland over the next decade. The tour began, and ended, at the Accor’s brand new IBIS hotel and conference centre, opposite the domestic terminal. It’s an impressive hotel, particularly for a 3.5-star offering, but what really amazes me is that it’s the 3rd hotel Accor have launched inRead More →

Contributed By: Mike Phipps Finance on

If you can just get your mind together Then come on across to me We’ll hold hands an’ then we’ll watch the sun rise from the bottom of the sea But first Are you experienced? Have you ever been experienced? Well, I have Jimi Hendrix May 1967 I’ve had this great old Jimi Hendrix song tumbling around in my head this week. A great riff and a great song from one of the legends but that’s not why it’s stuck on high rotation in my already overstressed mind. Here’s the thing. Not so long ago new entrants to the management rights, caravan park and motelRead More →