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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.

Mozo may receive advertising fees from the financial institutions, issuers of financial or credit products and third party advice providers that are shown on this page. These fees are based on a cost per click, cost per acquisition, or a fixed fee.

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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New Tax Ruling 2019/5

Each new financial year the Australian Taxation Office (ATO) releases the latest Tax Ruling outlining changes to the effective lives of some plant and equipment assets.

Generally, the changes relate to the effective lives of commercial property assets. However, in Tax Ruling (TR) 2019/5, there were a number of changes made to depreciable assets found in residential properties for the first time in fourteen years.

BMT Tax Depreciation’s recommended effective life changes in TR 2019/5

Last year BMT Tax Depreciation made a submission to the ATO recommending some more practical effective lives for particular assets. We also recommended the commissioner introduce a number of assets that were not previously specified.

The following table shows the list of recommendations made by BMT that have now been added and stated in TR 2019/5

graph

Source: https://www.bmtqs.com.au/maverick/mav-46-new-tax-ruling-2019-5

Plant and equipment assets with changed effective lives in TR 2019/5

Along with the new assets, some existing assets have reduced effective lives outlined in TR 2019/5 include television sets, telephone handsets, microwave ovens,spa bath pumps, dishwashers, washing machines, clothes dryers, solar garden lights, freestanding bathroom accessories and carpet.

As a result of the effective life changes view the diminishing value and prime cost rates in the links below:

Effective life >

Diminishing value rate >

Prime cost rate >

The new ruling replaces TR 2018/4 and is effective from the 1st of July 2019.

Most common and lucrative residential assets among the TR 2019/5 changes

Among the affected items with changed effective lives were two of the most common and lucrative plant and equipment assets BMT find when completing depreciation schedules for residential properties.

Appearing in 99.8 per cent of residential property depreciation schedules completed in FY 2018/19, freestanding bathroom accessories were the most common depreciable assets found by BMT. These assets saw their effective life reduced from five years to just three.

Carpet was the most lucrative asset found by value by BMT in FY 2018/19, resulting in $29,904,067 in total deductions for all residential schedules and an average of $3,567 in deductions per report. This asset saw its effective life reduced from ten to eight years.

What do the changes to effective lives outlined in TR 2019/5 mean for investors?

The changes mean the ATO believe the wear and tear of these assets over time result in their value depreciating faster and they will need replacing sooner.

The changes to the effective lives of these and other residential assets could influence when an investor chooses to make improvements and replacements.

The date that a plant and equipment asset is acquired will determine the effective life used. This is because previously approved determinations can still be used for assets acquired within periods stipulated by previous rulings.

Commercial industries affected by TR 2019/5 changes to effective lives

TR 2019/5 also included adjusted effective lives for assets found in other industries including banking, building society and credit union operations, financial and insurance services, scientific testing and analysis services, retirement villages and wholesale trade operators.

 

Source: https://www.bmtqs.com.au/maverick/mav-46-new-tax-ruling-2019-5

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