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August 2022

You are browsing the site archives for August 2022.

In: Real Estate

Contributed By: Claire Ryan - REIQ on

Property prices continue to rise across Queensland, albeit at a more modest pace, according to quarterly median sales results released by the Real Estate Institute of Queensland (REIQ) today. The June 2022 quarter (April – June 2022) revealed that Queensland’s median house prices rose by 3.61 per cent, while median unit prices still inched up by 1.59 per cent. REIQ CEO Antonia Mercorella said the latest quarterly results showed Queensland’s soaring property market growth has started to show signs of calming. “You only need to take a look at the rate of price growth over the past year, with some areas achieving an incredible 20-30Read More →

In: Events, Uncategorized

Contributed By: TheOnsiteManager on

Voting for THE Awards hosted by The Onsite Manager is now open to all of our onsite managers who are part of our managers agency! It is accessible through the control panel. Award categories include Legal, Accounting, Broker, Relief Manager, Body Corporate, Finance and Manager of the Year. Your final chance to vote is 1st of October and the winners will be announced at THE Awards held on the 14th of October at The Warehouse Basement, Brisbane. Get your tickets at: https://events.humanitix.com/the-awards-2022Read More →

In: Facilities Management

Contributed By: Shaun O'Dowd - REIQ on

The REIQ has outlined some of the main matters of change regarding repairs with the new Tenancy Laws coming into effect 1 October 2022. What are the changes to the RTRA Act in relation to repairs? Some of the changes to the tenancy laws on 1 October 2022 relate to the process and authorisation for repairs, including:  – increasing the maximum spending amount allowed for a tenant or property manager for emergency repairs from two weeks to four weeks’ rent; – the Form 18a General Tenancy Agreement must now identify the nominated repairer that is the tenant’s first point of call for emergency repairs; –Read More →

In: Facilities Management, Landlords, Tenants, Renting and Management

Contributed By: Rental Tenancies Authority on

Mould has become more prevalent than usual in houses across much of Queensland, due to the wet weather we’ve been experiencing in the recent months.   It’s important to remove mould from a rental property as soon as practically possible, as it can pose a health risk to those living in the property if left unchecked.   To help property managers/owners and tenants/residents understand their responsibilities, the RTA has answered some of the most frequently asked questions we receive around dealing with mould in a rental.  What causes mould?   Mould is a type of fungi that grows best in damp and poorly ventilated areas.Read More →

In: Insurance

Contributed By: BCsystems on

The body corporate industry is full of jargon, and especially when it comes to insurance. Your body corporate may have received a letter from its insurer discussing a “risk requirement” – this article explains what that is, why you might get one, and tips to deal with it. What is a risk requirement? A risk requirement is a term used by the insurance industry, and it is effectively a warning notice. Your body corporate will have property insurance to cover the common property, and this usually also covers the individual lots depending on your scheme type. The insurer will usually issue a ‘risk requirement’ toRead More →

In: General Interest

Contributed By: Mike Phipps Finance on

As always, I have decided what to write about this month. That’s pretty much as far as I usually get before writer’s block sets in and I resort to Google for an appropriate opening quote. It always works but not today! The word Sustainable has been hijacked by the woke, the deluded and the thought police and must now only be used in the context of saving the world. All manner of sustainable practices and definitions pop up, mostly meaningless motherhood statements and sadly none addressing infinite population growth on a finite ball of spinning rock. In my mind sustainability is the concept of maintainingRead More →

In: Landlords, Tenants, Renting and Management

Contributed By: Rory Scott - REIQ on

The Housing Legislation Amendment Bill 2021 was last year passed by the Queensland Parliament and the REIQ welcomes the improvement from the initial reforms proposed by the government. Key updates: The domestic and family violence provisions came into effect (received assent) on 20 October 2021, but they largely replicate what has already been in place as part of the COVID-19 provisions. Provisions 2 and 3 (outlined below) will come into effect on 1 October 2022. Minimum housing standards (Provision 4 – outlined below) for new tenancy arrangements commence from 1 September 2023 and for all tenancies from 1 September 2024. Although an improvement on the reforms thatRead More →

In: Accounting and Finance

Contributed By: Alex Wilson - Archer Gowland Redshaw on

For all businesses, regardless of size, maintaining confident and accurate financial information is essential in building a successful venture. Therefore, ensuring you have the appropriate bookkeeping functions and systems is critical moving forward. In mid-2021, the Bank of Queensland (BOQ) highlighted the top ten reasons small businesses fail within a five-year period in Queensland. One of the core reasons pertained to financial mismanagement, with BOQ commenting a lack of understanding in managing cash-flow and urgency in maintaining financial responsibilities as some of the biggest factors. Often, owners get caught in the traps of day-to-day operations – ignoring the time to maintain and review financial records.Read More →

In: General Interest, Landlords, Tenants, Renting and Management

Contributed By: Resort Brokers on

ResortBrokers Sunshine Coast team has racked up $44 million in Management Rights’ sales in the area in the past financial year alone, including a number of high-profile record deals.Brokers Glenn Millar and Chenoa Daniel sold 26 Management Rights – averaging one every two weeks – and the Sunshine Coast surge shows no signs of waning.Notable sales with total combined asset sales of $ 18,389,770 and total combined real estate (within the sales) – $6,100,000 include: Noosa Pacific – Prime Waterfront Resort – Noosaville51 units in complexSale Price $7,823m – record price for a manager’s unit and record multiplier for Noosaville Maison Noosa – Absolute BeachfrontRead More →

In: General Interest, Landlords, Tenants, Renting and Management

Contributed By: ARAMA on

United we stand, divided we fight! FOR everyone involved in the business of Management and Letting Rights an important maxim is to concentrate on the things that unite us, rather than those that divide us. Because most ARAMA members work and live on-site in close proximity, they are often the target of people’s frustrations, and it can be a very stressful environment. Resident managers are there to create harmony, and not disharmony, but neighbourhood battles can be so toxic that Queensland had to introduce the Neighbourhood Disputes (Dividing Fences and Trees) Act 2011. This was designed to overcome the increasing prevalence of neighbours in theRead More →

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