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Queensland Proposed Rental Reforms 0302

Here’s a summary of the proposed changes:

  • The abolishment of without grounds terminations and evictions – property owners to only end tenancies for approved reasons
  • All rental properties must be weatherproof and structurally sound and must meet minimum standards for plumbing and drainage, security, fixtures and fittings, pests, vermin and infestation, ventilation, lighting, privacy and cooking and food preparation facilities
  • Tenants will be able to make minor health, safety, security and accessibility changes to rental properties without the owner’s consent
  • Tenants experiencing domestic or family violence can provide seven days’ notice to exit a tenancy and leave quickly or immediately
  • Property owners cannot unreasonably refuse a tenant’s request to keep a pet

Let’s break down what the Queensland rental reforms mean for landlords and tenants.

What do the rental reforms mean for landlords?

First and foremost, the proposed changes abolish a landlord’s right not to renew a tenancy agreement at the end of its agreed term. Landlords can only end a tenancy for approved reasons such as:

  • The landlord or their immediate family needs to move in
  • The property has been sold or vacant possession is required
  • There has been a significant breach of the tenancy agreement
  • A person is occupying the property without consent

The reforms also introduce minimum housing standards and repair and maintenance obligations. If the rental property doesn’t meet minimum standards, it cannot be rented or rent must be reduced until maintenance is completed, which can mean loss of income for landlords.

Tenants will have seven days to complete and return the entry condition report and they will be able to authorise up to four weeks’ rent for emergency repairs, instead of the current two weeks’ rent. If the landlord is unavailable, the property manager will be able to authorise up to four weeks’ rent for emergency repairs.

Additionally, tenants do not have to obtain landlord permission to make minor modifications to the rental property for health, safety, security and accessibility reasons. This includes adding deadlocks, grab rails and furniture anchors. While tenants must inform the landlord of any changes, landlords can only refuse the changes by obtaining an order from QCAT.

Lastly, landlords cannot unreasonably refuse a tenant’s request to keep a pet unless the property is unsuitable for the pet or there are unacceptable health or safety risks. However, landlords can require the tenant to meet special conditions such as paying a pet bond.

The Real Estate Institute of Queensland (REIQ) has been petitioning against the reforms since their announcement as a third of dwellings in Queensland are investor owned, and thus the changes have “the potential to destroy Queensland’s rental market”.

REIQ CEO Antonia Mercorella has called the proposed reforms a “slap in the face to every day mum and dad property owners” and predicts a decline in investor activity that could negatively impact rental supply and vacancy rates.

“Under the reforms, landlords will see their fundamental rights eroded, making property investment far less appealing, and as a result, we’ll almost certainly see investment levels drop,” said Ms Mercorella.

What do the rental reforms mean for tenants?

According to Deputy Premier, Treasurer and Member for South Brisbane Jackie Trad, more than a third of Queensland households live in rental properties, with the figure rising to three in every five in some areas like the inner city. This means that the proposed changes affect a large number of people in the Sunshine State.

The abolishment of without grounds terminations and evictions, introduction of minimum housing standards and improved domestic violence protections aim to make renting safer and more secure for tenants. Existing repair and maintenance provisions will be enhanced and tenants experiencing domestic and family violence will be able to install security measures and provide seven days’ notice to exit a tenancy and leave quickly or immediately.

The reforms also introduce the right for tenants to make minor modifications for health, safety, security and accessibility reasons without landlord consent. These modifications must be carried out by a qualified tradesperson when required and any damage incurred must be repaired. Conversely, personalisation, energy efficiency and communication service connection changes such as hanging pictures or cable television connections still require landlord consent.

Tenants with pets will have increased access to rental properties as landlords cannot unreasonably refuse a tenant’s request to keep a pet. However, landlords can require the tenant to meet special conditions such as paying a pet bond or paying for professional pest control or carpet cleaning at the end of the tenancy. If the pet has caused any damage to the rental property during the tenancy, the tenant will be held responsible.

On the other hand, the proposed reforms will likely inflate rents for tenants due to an eventual decline in housing supply. As conditions become more unfavourable for landlords in Queensland, existing investors may sell their properties and investor activity will likely decrease. This will negatively impact the construction sector and those working in the real estate industry may face unemployment.

According to analysis by Propertyology Head of Research Simon Pressley, “reforms could cause rents to skyrocket by $100 a week” or $5,000 annually over the next two years due to the inevitable decrease in investor activity, subsequent domino effect and eventual decline in housing supply.

Minister for Housing and Public Works, Mick de Brenni acknowledged that he believed the reforms would likely increase weekly rents by 5%, from an average of $360 per week to $378 per week.

“With many existing owners of Queensland investment properties already disappointed by the poor financial performance of their asset, this new legislation will be the final straw for some owners,” Mr Pressley said.

Let us know your thoughts on What the Queensland Rental Reforms Mean For Landlords and Tenants by emailing hello@arrivehome.com.au

 

Posted by Silvia Liu on Jan 24, 2020 – Propertyme

Reposted by Karen Herbert Feb 3, 2020 – Arrive

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National Vacancy Rates Increased Marginally in December

New data released by SQM Research today has revealed the national residential rental vacancy rate increased marginally in December 2019 to 2.5% from 2.2% recorded in November, with the total number of vacancies Australia-wide now at 84,591 vacant residential properties.  The December 2018 vacancy rate was also 2.5%.

All states recorded marginal increases in vacancy rates with Sydney recording the highest at 3.6% followed by Darwin at 3.5% and Brisbane at 2.9%.  Hobart is the lowest of all capital cities at just 0.6%

Perth’s rental market is showing minor improvements with the vacancy rate remaining steady at 2.5% and asking rents increasing for both houses and units by 0.6% and 0.8% respectively.

While vacancy rates did rise in December, this was predominantly due to the seasonal movement of students and some industry-specific workers. It is actually quite likely we have reached the peak in national rental vacancy rates with ongoing strong population growth absorbing current surplus rental stock over 2020.

National Vacancy Rates table

Asking Rents

Over the month, Capital city asking rents increased 0.9% for houses and 0.7% for units for the week ending 12 January 2020 to record asking rents of $555 per week for houses and $437 per week for units.  In comparison over the 12 months, asking rents declined 0.7% for houses and 0.5% for units.

Sydney, Melbourne, Perth and Adelaide all recorded increases in asking rents for both houses and units over the month. Brisbane and Hobart recorded increases in house asking rents but unit asking rents decreased by 0.2% and 0.5% respectively.

It was the reverse in Canberra where the city’s house asking rents decreased by 2.4% but its unit asking rents increased by 0.5%.  Darwin’s house asking rents recorded the highest decrease of 3.0% with unit rents remaining steady.

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Routine inspections: The biggest mistakes PMs make

1. Doing too many inspections in a day

Routine inspections can be tiring. Once you’ve done a few in a day, this can result in corners being cut and shortcuts taken. Understand your personal energy levels and be realistic about your limit. Keep the number of inspections that you conduct in a row at a level that works for you. If you get tired quickly, adjust your schedule so you’re not doing a whole day of them in a row.

2. Beware the ‘desk’ inspection attitude!

Too many property managers trade thoroughness for complacency just to get through as quickly as possible and don’t access all rooms inside and all areas outside. This is a prime opportunity to look out for issues like unauthorised pets, suspicious warning signs and concerning repair and damage issues.

Once this habit begins, it is likely to become permanent until a situation blows up when something obvious gets missed. Where does this attitude end? The slippery slope of human nature kicks in.

This becomes the ‘Kitchen Inspection,’ where we walk into the kitchen and say “Well, it’s a waste of time me being here,” and walk out. This then turns into the ‘Front Door Inspection’ (knock, ask for the repair request form, thank the tenant and leave), then to the ‘Kerb-side Inspection’ (park, look and drive off), to the ‘Drive-by Inspection’ (you don’t even stop) and then to the most lazy and negligent inspection of all – the ‘Desk Inspection!’

It happens, I’ve seen this occur too many times! Don’t let it happen to you.

3. Not referring to the ingoing condition report or photos

The property needs to be maintained as it was found (less fair wear and tear) and how can you check this properly without referring to the ingoing condition report and photos?

It is easy to check the outside by looking at the initial inspection photos first. Referring to previous inspections on an iPad makes this process so much easier these days, or simply take the file with you to check the photos on record.

4. Not referring to or being aware of special conditions

When you conduct an inspection without being aware if the property is ‘no pets’, or ‘garage is not for tenant use’ or some other special tenancy condition specific to that property, issues can be overlooked and missed that will blow up later.

This can typically happen when the inspecting property manager is relieving or is a replacement property manager not making themselves aware of the special conditions set at tenancy start.

There’s nothing more incompetent than a property manager complimenting a tenant on their dog when they were not even aware it should not have been there in the first place!

5. Not following up on reported repairs

How many property managers get the sense of ‘deja vu’ at inspections, having reported the very same issue three months before but nothing got done?

When an owner gets an email (with all the other hundreds of emails they get) it can quickly get overlooked. Call the owner several days after the inspection to discuss what should be done and get their instructions.

Using ‘screen recording’ to create a video message from your computer recording what you say and see, and send it to them as a link they can watch (like a YouTube clip, but kept private). See screencast-o-matic.com for this easy-to-use, cheap software.

6. Not inspecting typical outside issues

When the average property manager spends only 20 minutes at a routine inspection, things like eaves, facias, outside sills, guttering/drop pipes, flyscreens and ridge capping don’t even warrant a glimpse.

If you have no time for this, or you say ‘that’s not my job’ you need to ensure you’ve arranged for a tradesperson to go to the property for a repairs and maintenance inspection every 6-12 months. If you don’t, this issue WILL come back and bite you!

7. Not thanking the tenant

Imagine this: the tenant is given notice of inspection and then spends hours and hours cleaning the home and making sure the outside is perfect. As they work during the day, they’re unable to attend the inspection.

The property manager attends, likes what they see and lets the owner know everything is presented really well with NO FEEDBACK to the tenant left in writing or otherwise?

Heard that one before? You now run the risk of the tenant developing a bad attitude towards you and you’re wondering why they’re a little ‘brief’ with you next time you see them.

Give credit where credit is due and thank your good tenants at EVERY opportunity. They make your life that bit easier. Make sure you’re thankful for that!

8. Not giving written feedback to the tenant

Too many property managers leave no written feedback as to how the tenant has performed, good or otherwise. If you do leave a note, make sure you take a photo or picture as a record and place it on file.

9. Not addressing tenant damage or issues

When you’ve noticed tenant damage, don’t ignore it. Present the issue to the tenant. Leaving or ignoring it will come back and bite you later on if the issue goes to tribunal or court later on. The fact that it was overlooked or ignored and not addressed at that inspection could be the very reason why the tenant wasn’t held responsible for it.

10. Not booking in geographic clusters

When you book in an inspection based on the date (for example 6 weeks after or 3 months after the tenancy start) then you might be spending too much time on the road.

Make sure you book all your inspections as close together geographically, to totally minimise drive time between inspections so you can get the maximum number done. The first inspection might not be exactly in line with your traditional time frames but as long as your promise to owners doesn’t stipulate these time frames exactly, then you can fit them in when you’re doing that area next.

11. Booking in too many inspections

Ever set aside a two or three-hour time block for inspections only to find that you’ve tried to fit too many in or another person has scheduled too many for you?

The number that you can do depends on location, size and structure (2 bedroom apartment as opposed to a 4 bedroom house with a yard/garage), but a good rule to follow is how many can you easily get done in the time slot given, without rushing and compromising on quality and thoroughness, taking into account any properties you need to spend more time at due to unforeseen issues arising that require more attention and inspecting.

12. Not accessing all areas

When a tenant says “sorry, you can’t access the third bedroom because…” or “the garage is locked and my boyfriend has the key and he’s away at the moment” then you need to reschedule and come back to inspect that room or area. Tenants don’t always tell the truth (shock horror!) and they could be disallowing access for devious reasons. Naturally, never walk into a situation that could result in your safety being compromised. Perhaps bring a second person with you next time to look at that area or room if required.

Another tip is to explain at tenant sign-up and have it as a special condition that the tenant is aware that all rooms and areas will be accessed at the inspection, so they’re on notice right from the start.

13. Not ensuring your gadgets are powered up

Ensure that your camera, smart-phone, iPad and other gadgets are adequately charged up for your inspections. A good property manager is prepared at all times.

14. Not re-confirming the inspection beforehand

Just because you’ve advised the tenant that you’re coming with an official notice, you cannot assume that they always remember or that every tenant is aware of the times and dates of inspections at the property.

Send an SMS text a couple of days before to everyone on the lease reminding them of the day and time that you will be there, and even a link to download your checklist again.

15. Being ‘too heavy-handed’

Don’t go on a power trip!

The tenant only needs to keep the property ‘reasonably clean’ and it’s not an army boot camp where everything has to be scrubbed with a toothbrush and shine.

If the house is untidy but generally clean it’s OK, and if the morning dishes are not done or the beds not made don’t trip out. If something is dirty and can affect the rental property in any way then address it with the tenant.

One of the best lines a tenant applying for a property with me once said, “I asked my last property manager how presentable the property should be for a routine inspection, and she replied ‘Just imagine the Queen is coming around!’”. Fail!

16. Sending out an untrained person to do the inspection

Why send a person to do a routine inspection when they’ve received no training in this task? This means that big issues will be missed and poor tenant performance will get overlooked. Recipe for a disaster in the making!

17. Overlooking poor tenant performance

If the carpets are dirty, the walls grubby and other areas unacceptable, don’t think “We can address this when the tenant leaves”. When the tenant vacates, their bond may already be taken up with overdue rent, so you may not even have a bond to use.

Here are a couple of sayings that have stuck with me – ‘If the tenant absconded tomorrow, what will they leave for me to clean up today?’ and ‘Poor routine inspection today, poor vacate inspection tomorrow’. If it isn’t up to scratch, address it today!

18. Not ensuring your keys are up to date

When the tenant is not home and you’re allowed to access the property but you cannot because you haven’t updated the keys or kept a check on them. Big waste of time.

19. Not taking adequate photos

We need to be careful here because no tribunal/court in Australia will be happy with you taking photos of tenant belongings but you can still take photos of the grounds front and back, any repairs required and also other issues and concerns. Your owners want to see not just read what’s going on. Take photos and don’t leave your clients guessing!

20. Not respecting the tenant’s home

Let’s face it, tenants are still treated as second-class citizens in property management (in general). It really hasn’t changed.

It’s not just a rental property to them and it’s definitely not an investment or a money maker. To the tenant, it’s their home, their safe place for them and their family.

Treat them with the respect they deserve, don’t blow them off. Attend to their queries and concerns promptly. The tenant is your partner in the rental property and without them, you don’t have a job!

 

Source: https://www.rent.com.au/agents/blog/inspection-mistakes/

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New Interest-Free Feature Takes The Pain Out of Rentals Bonds for Renters

RentBond allows renters to pay their rental bond, two weeks’ rent in advance and other moving costs upfront and repay in two flexible ways.

If the applicant just needs a short-term loan while waiting on their bond to be refunded from their previous property, RentBond lets them borrow the funds for up to 21 days at no cost. Once they receive their bond refund and pay the RentBond loan back in full within the first 21 days, they won’t pay interest or any other costs.

RentBond benefits for property managers

  • The 21-day interest-free period means renters can fund their new bond at no cost, while they’re waiting on their previous bond to be returned
  • If the applicant repays the full amount within 21 days (e.g. when they’ve got their previous bond back), they won’t be charged any interest or fees
  • All successful applicants will have passed affordability and credit checks
  • No extra paperwork or processes required from the property manager
  • Option to pay the bond directly to the agent’s trust account, to the relevant bond authority or the renter.

RentBond applicants undergo a credit check as part of the process, and other eligibility criteria apply.

Through its joint venture with Fair Go Finance, rent.com.au aims to empower renters with greater financial flexibility and convenience when funding their next rental bond.

Fair Go is providing financial technology to facilitate the expansion of RentBond’s features, taking the product to the next level in terms of convenience and attractiveness.

Making bond payments easier for agents

The already market-leading bond payment solution is just one of rent.com.au’s products and services that make the renting process easier for agents, tenants and landlords. RentBond helps renters cover their bond and moving costs (up to $10,000) while they’re waiting for their bond refund from their previous rental.

The new interest-free feature has the potential to change how people manage their money during their move, Mr Bader said. “It fits with our goal of simplifying the moving process. RentBond is perfect for the savvy renter who carefully controls how and when they pay. It can help with the “cash squeeze” if you’re still waiting on the old bond to be returned but need to secure that new dream property.”

“From real estate agents’ perspectives, it guarantees bond payment on time, with payment made directly to an office trust account, the bond authority (where applicable), or transferred from the applicant themselves,” Mr Bader said. “This means the agent has the security of knowing that the bond is covered”

 

Source: https://www.rent.com.au/agents/blog/rentbond/

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RentBond: Bond Loan Service for That Rental Property

What is RentBond?

RentBond is a convenient way to pay your rental bond, your two weeks’ rent-in-advance and other moving costs, provided by our partner Fair Go Finance.

When you’re approved for RentBond, we’ll pay your loan either directly to your agent, or to your nominated bank account (so you can pay your agent or landlord yourself). You then pay us back until the loan is paid in full.

Fast approval

Our online application process is completely secure and only takes a few minutes to complete.

Fast settlement

Once approved, your bond will be paid in full on the same or next business day (depending on when you apply).

Flexible repayment options

We’ll align your repayments to match your pay cycle.

RentBond – 21 days interest-free

If you just need a short-term loan while you wait for your bond refund, RentBond is interest-free for the first 21 days. So if you receive your bond refund and pay back your RentBond loan in full within the first 21 days, you won’t pay any interest. Reduced fees and charges will apply to part-payments.

  • Be 18 years of age or older and living in Australia
  • Be employed on a casual, part-time or full-time basis
  • Be earning over $500 per week (Centrelink income can’t be your only source so you’ll also need to be working)
  • Have not declared bankruptcy in the last 12 months

What is a bond loan?

A rental bond loan is a loan that can be used to pay your rental bond to your real estate agent or landlord and help you secure a rental property.

A bond loan can help with cash flow during your move, letting you pay monthly instalments instead of one large lump sum.

Find out more about Rent Bond here: https://www.rent.com.au/rentbond

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Queensland Home Value Forecasts

Queensland’s property market has done better than other states but hasn’t entirely escaped the downturn. Queensland can be divided into “three distinct groups,” according to Ell:

  1. The first is the bulk of Brisbane, which has seen healthy growth but is now seeing a moderate correction. “The outlook for these housing markets remains either flat or mildly positive over the forecast period.”
  2. The second is ‘lifestyle areas’ such as the Sunshine Coast, Wide Bay, and Cairns, which are expected to perform better in 2020 and 2021.
  3. The third Queensland housing market region consists of “commodity or agriculture-producing areas”, such as Central Queensland, Mackay-Isaac-Whitsunday, and Darling Downs-Maranoa. Property values in these areas have suffered due to the end of the mining boom, and drought conditions will see further declines.

Brisbane is forecast to see growth of 2 per cent in 2020 and a further 3.7 per cent in 2021.

queensland market

SOURCE: https://au.finance.yahoo.com/amphtml/news/where-australian-property-prices-going-2020-201613706.html

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The Benefits Of A Vacation Rental Property Manager

A top-level short-term rental enterprise requires a certain level of commitment. As a host, you have to ask yourself if you’re up to the task and what resources are available to you. An option you can consider is hiring a property manager to oversee your vacation rental.

Property managers can save you plenty of time, stress and energy. Perhaps you prefer to have full control over your Airbnb, but you may soon find out that quality property managers can effectively take care of your vacation rental and even improve it.

What exactly does a property manager do? Here are some of the tasks a good property manager can conduct on your behalf:

  • Create an Airbnb profile and listings
  • Respond to guest inquiries and handle communication issues
  • Coordinate maintenance and cleaning
  • Replenish consumables (toilet paper, soaps, garbage bags, etc.)
  • Monitor your calendar and rates
  • Create a check-in experience and a digital guidebook for the guest
  • Key management
  • Monitor guest reviews

However, you may be thinking you’ve already created a neat system for those tasks. So here’s a closer look at the benefits of hiring a property manager for your Airbnb.

Professional knowledge, experience and resources

Professional property managers have a better grasp of the market. They understand rates and trends and understand the more technical procedures of managing short-term accommodations. They have access to high-tech management tools and are connected to the top tradespeople in the area. They’ve seen all types of guests and have instincts on how to give each one good experience.

Optimise your income

A successful property manager knows best how to maximise your income ratio. Their understanding of pricing trends and market conditions allows property managers to deliver more bookings.

Proactive communication

This is the key to managing an excellent vacation rental enterprise. Whether it’s communicating with maintenance or guests, your property management can handle communication on your behalf. They’ll also be able to keep you updated on your Airbnb, whether it’s “good” news or “bad” news.

Paperwork and legislation

An effective property manager will conduct and provide inspection reports. They’re also aware of the key legislative matters and updates, ensuring your vacation rental is meeting the right and best standards. And, should any issues arise, they’d be able to advise you, represent you at the tribunal and mediate for you.

 

Now if all those benefits sound great to you, the next question you might have is, “How much does a property manager cost?”

An Airbnb or vacation rental property manager typically charges on average 15% of your nightly rate to manage a Airbnb that is listed fulltime. Charges may still vary and your property manager could charge as low as 10% or as high as 20%, depending on the services offered as well as the size, location and age of the property. Charges will also depend on the range of services you are personally looking for.

If you’re ready to hire a property manager, you’ll want to find one who has your best interests in mind and understands your goals. Here are several key questions to ask when interviewing property managers.

  • How many vacation rentals are you managing?
  • How do you market vacation rentals?
  • What documented systems are in place for property management?
  • What is your process for dealing with repairs and maintenance?
  • How frequently will you inspect my property?
  • Can I have online access to my information?
  • What references do you have from satisfied clients?
  • Do you provide an experience guarantee/promise?
  • Do you have documented experience standards?
  • What back-up staff are there in the event my property manager is sick or on holidays?
  • How frequently will you communicate with me, and what form will it take?
  • Will you only call me when there is a problem?

Are you ready for stress-free vacation rental property management? List your Airbnb with Air-rive now https://air-rive.com.au/contact/

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The Best Home Loans in Australia for 2019

Australia’s best home loans have just been ranked for the 2019 Mozo Expert’s Choice Awards, and the results are eye-opening. Choosing the best value home loan over the average big bank loan could save a typical borrower more than $72,000 over the life of the loan*, but with so many options available it can be hard to know where to start.

The Mozo Experts Choice judges have over 50 years of financial services experience, so it’s pretty safe to say they know a good deal when they see one. For this year’s Awards, our experts compared 436 home loans from 85 lenders and only the top 10% of products in each award category got the seal of approval.

So whether you’re looking to buy your first home or refinance and save, start off on the right foot by comparing some of this year’s best value home loans below.

Mozo Experts Choice Winning Home Loans 2019

  • Smart Home Loan

Looking for a loan that delivers big savings? Look no further than the Smart Home Loan from loans.com.au. This ultra low rate, low fee mortgage is packed with handy features like free extra repayments, unlimited free redraw and a split rate option. loans.com.au actually took out the Low Cost Home Loan Award for its Essentials Variable 80 loan, but the new Smart Home Loan has an even lower rate and all the same great features as the Essentials, so we’d be crazy not to review it here.

    • New 2.88% variable rate (2.90% comparison rate*) – Apply now to get this rate from 17 October
    • $0 application or ongoing fees
    • Unlimited free extra repayments and redraw facility

Go To Site: https://www.loans.com.au

  • UBank UHomeLoan – Discount Offer

The UBank UHomeLoan is a perennial award winner, and with such great value on offer it’s not hard to see why. Being an online bank, UBank is able to offer super sharp rates and get rid of hidden costs like application and ongoing fees. The new low rate is available for loans of $200,000 or more with a minimum deposit of 20%, and the online application process is fast and easy. You’ll also have the security of knowing that UBank is backed by NAB.

    • New 2.84% variable rate (2.84% comparison rate*) – Apply now to get this rate from 29 Oct
    • No hidden fees plus free extra repayments and redraw
    • Best Low Cost Home Loan and Split Home Loan Winner

Go To Site: https://www.ubank.com.au

  • Homestar Star Essentials Home Loan

Featuring one of the lowest variable rates on the market, the Star Essentials Home Loan could help you save a small fortune over the life of your loan. This no frills loan from Mozo Experts Choice winning non-bank lender, Homestar, gives owner occupiers plenty to get excited about, with $0 ongoing fees and a number of handy features such as unlimited extra repayments, free online redraws, multiple loan splits and a choice of weekly, fortnightly or monthly repayments.

    • 2.74% p.a. variable rate (2.77% p.a. comparison rate*)
    • Free extra repayments and redraw facility
    • No monthly or ongoing account fees

Go To Site: https://homestarfinance.com.au

  • Suncorp Back to Basics Special

The Back to Basics home loan from Mozo Experts Choice winner Suncorp delivers a competitive variable rate with minimal fees and a nice array of flexible features. There are no ongoing or establishment fees on loans of $150,000 or more, and you can make unlimited extra repayments and redraw as cashback.

    • 3.18% variable rate (3.19% comparison rate*)
    • No establishment or ongoing account fees
    • Unlimited additional repayments

Go To Site: https://www.suncorp.com.au

  • Well Home Loans Well Balanced

Looking for a balanced home loan with a super-low rate? Then, the Well Home Loans Well Balanced home loan might be right up your alley. Winner of a Mozo Experts Choice Award 2019 for the Best New Home Loan, this mortgage features waived fees and one of the lowest rates around.  Plus, you’ll score free extra repayments, redraw and the option for a split account, so you can customise your loan to suit you.

    • 2.97% variable rate (3.00% comparison rate*)
    • Free extra repayments and redraw facility
    • Multiple 2019 Mozo Experts Choice Award winner

Go To Site: https://wellhomeloans.com.au

  • HSBC Discounted Home Value Loan

Proving that big banks can offer competitive value, HSBC nails it with a low rate, low fee loan that includes a range of flexible features including free extra repayments, unlimited redraw and a split rate option. HSBC’s Home Value Loan took out awards in the Low Cost Home Loan, First Home Buyer Loan and Split Home Loan categories, making it one of the year’s most impressive performers, too. And what’s more, you’ll even get a dedicated relationship manager to help you through the application process.

    • 3.17% variable interest rate (3.19% comparison rate*)
    • No upfront or ongoing fees
    • Borrow with just 10% deposit

Go To Site: https://www.hsbc.com.au/

  • Athena Variable Home Loan

New online mortgage challenger Athena wants you to love them and leave them, offering ultra low rates to help you pay off your mortgage fast. The value-packed Athena Variable Home loan is a refinance mortgage with one of the lowest rates around plus no application, valuation or ongoing fees. The loan also offers free extra repayments and a free redraw facility. Just keep in mind, if you’re a first home buyer, you won’t be able to get this loan as it’s only for refinancers, living in capital or major regional cities.

    • 2.84% variable rate (2.80% comparison rate*)
    • Free extra repayments and redraw facility
    • No upfront or ongoing fees

Go To Site: https://www.athena.com.au

 

Want to compare more home loans? View the latest mortgage rates from 80 plus lenders at Mozo’s home loan comparison hub.

This is just a selection of our Mozo Experts Choice Home Loan 2019 winners. Head over to our dedicated Awards page to see the full list of winners.

The Mozo Experts Choice Awards recognise products that deliver exceptional value or benefits to consumers. Our judges base their decision on hard-nosed calculations of value to the consumer, using Mozo’s extensive product database and research capacity.  Product providers don’t pay to be in the running and we don’t play favourites. Award winners may choose to purchase a licence to use their award in their own marketing and may choose to list products on the Mozo website in a way that may generate revenue for Mozo.

*Loan savings based on a $400,000 owner occupier loan over 25 years with principal and interest repayments.

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Shared from: https://mozo.com.au/home-loans/articles/best-home-loans-in-australia-unveiled

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Find Your Next Cheap Rental Within 10kms Of The City

There are suburbs in each major city that may not be recognised as ‘cool’, but their affordability and close proximity to the city make them desirable. 

For renters who want to buy a home one day, helping pay off someone else’s mortgage isn’t ideal.

Instead, cheap rent will help you save up for your own property one day.

There’s no need to compromise on location, the latest realestate.com.au data reveals cheap rental ‘burbs approximately 10kms from the CBD. Most renters are looking for more affordable property close to the city, according to realestate.com.au executive manager – rent Kul Singh.

“The number one drawcard for renting is location location location with 52% of renters saying it is the most important consideration when choosing a rental followed by 33% on price and 8% on style. These results are from a survey of 3500 renters aged between 18-39.  Being close to the city comes with a lot of advantages like being close to amenities, lifestyle and schooling options,” says Singh.

 

Here are the suburbs with the cheapest median weekly rent price located approximately 10kms from each major Australian city.

The data is taken from the 12 months to 31 August 2019. For suburbs to meet the data requirements, each had to have 10 listings on realestate.com.au for rental houses in that timeframe.

Cheapest rental suburbs close to the CBD

Mawson, ACT

Kitchen

70 Hurley Street is currently seeking new tenants for $480 per week, which is under the suburb median. Picture: realestate.com.au

Mawson is 10kms south of Canberra and the median weekly rent is $510.

The majority of the suburb is made up of independent youths and there are currently 11 properties for rent in the neighbourhood.

Woodville Gardens, SA

outdoor view of the house

4 Seventh Avenue is a two-bedroom rental priced at $290 per week. Picture: realestate.com.au

Being a small city, it’s not hard to live close to Adelaide’s CBD.

However, Woodville Gardens has the cheapest weekly rent out of suburbs close to 10kms of Adelaide.

Here, the weekly rent is $320 and the majority of the population consists of independent youths.

Millner, NT

Balcony view in Millner

15/54 Sabine Road, Millner is a two-bedroom apartment priced at $340 per week. Picture: realestate.com.au

Millner is located near Darwin airport and a short walk to the water’s edge.

It’s 10.1kms from Darwin’s CBD and has a medium weekly rent of $450.

Ashfield, WA

Spacious living room

Currently on the market is this four-bedroom home priced at $400 per week. Picture: realestate.com.au

Ashfield is 9.1kms from Perth and has a median rent of $315 per week.

There are currently seven properties in this suburb to rent.

Ashfield, NSW

White colored kitchen

4/111 Alt Street, Ashfield is a bright and spacious apartment for $450 per week. Picture: realestate.com.au

Another suburb of Ashfield, but this time located in New South Wales and not Western Australia, is a where you’ll find cheap rent within 10.1kms of Sydney’s CBD.

The median weekly rent here is $650 and there is a whopping 201 properties currently for rent in this area.

Maidstone, VIC

Frontyard in Maidstone

51 Churchill Avenue, Maidstone is a three-bedroom home for $480 per week. Picture: realestate.com.au

Maidstone is 10.1kms to the west of Melbourne and offers renters a cheaper option to live close to the bustling CBD.

You will be living among independent youths who make up the majority of the demographic in the neighbourhood.

Median rent here is $450 per week.

Risdon Vale, TAS

Property in Risdon Vale

27 Athena Drive in Risdon Vale is a dream cheap rental priced at $420 per week. Picture: realestate.com.au

It’s no secret that renters flock to Hobart, but this can also mean rental prices are pushed up.

Risdon Vale is 10.6kms from Hobart and has a median rental price of $360 per week.

Chermside, QLD

 

 

Property in Chermside

3/485 Rode Road is an apartment in Chermside priced at $300 per week. Picture: realestate.com.au/rent

Chermside is within close proximity to Brisbane Airport and 10.3kms from Brisbane’s CBD.

The median rent here is $393 per week and there are currently 98 properties on the market looking for tenants.

 

When it comes to getting ahead of the game with renting close to the CBD, Singh provides the following advice.

“Know that you will be competing against plenty of other eager renters – 30% of renters we surveyed are rejected from more than three places they applied for with one of the biggest frustrations with securing a rental being competition.

“So be tenacious and do what you can to stand out from other potential applicants – utilise tools like 1form to complete your online renter profile once, and leverage this to apply for multiple properties you have inspected and are interested in and consider investing in services like tenant verification where you can automate tenant checks for the property manager which may help you stand out from the crowd,” he says.

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