September 2022

You are browsing the site archives for September 2022.

Contributed By: James Price - REIQ on

Eliza Owen, CoreLogic Head of Residential Research Australia, sat down with Rob Doorey in episode two of the REIQ’s season three Property Brief Podcast to give an update on the current housing market alongside why she believes there are benefits for buyers in the current market.  The Current Market Owen states the current market has come off its peak, led heavily by the more expensive capital cities.  “Overall Australian housing values our down by 2% since peaking in April of this year,” Owen says.   “It’s clear that no market is immune in the lift to interests rates we’ve seen in the past few months.”  Even though on paper, it would seem like this is a market consumers may want to avoid, there are several factorsRead More →

Contributed By: Aon on

Important features of Professional Indemnity Insurance You might already hold Professional Indemnity Insurance (PI), and renew your cover year after year without a second thought, but there’s more to your PI cover than you might think. Because of the way Professional Indemnity policies operate, there are some aspects of the cover that are worth keeping in mind to ensure your policy is providing you with the protection you need.  Your cover shouldn’t end after you stop practising With most of your other insurances, the cover often isn’t needed anymore after you no longer have the asset. For example, you might cancel your car insurance after you sellRead More →

Contributed By: REIQ on

The new Queensland tenancy laws coming into effect on 1 October 2022 largely replicate domestic and family violence provisions introduced in 2021.  Property managers should always exercise caution when dealing with tenants who are experiencing domestic and family violence.  Some key points of the legislation include: – The affected tenant may choose to either leave or stay at the property and, if they stay, they are entitled to change locks.  – If the tenant believes they can no longer safely stay at the property, they can choose to leave and end their interest in the tenancy.  – They must give you the prescribed form – FormRead More →

Contributed By: Jane Wilson - Queensland Government on

The role of the caretaker within a body corporate can sometimes cause confusion. As the caretaker is frequently onsite managing the scheme’s day-to-day issues, it can fuel the assumption that the scope of their responsibilities is wider than it is. By-law enforcement is one of the tasks residents commonly attribute to caretakers. However, contrary to popular belief, the caretaker is not the ‘all-powerful’ body corporate sheriff appointed to enforce the scheme’s by-laws. In this article we will clarify the avenues available for enforcing by-laws, while highlighting who holds the reins when it comes to body corporate decision-making. What is a contravention notice? A contravention noticeRead More →

Contributed By: Aon on

An explanation on run-off cover and why it’s important When it comes to insurance policies, in most cases, once you no longer own the asset, you also don’t need the insurance anymore. For example, once you’ve sold a car, you usually cancel the insurance policy for it. However, if you run a professional advice-based business and hold Professional Indemnity Insurance, you might receive claims or complaints after you retire or leave the profession as a result of the advice you provided while you were running your business. For these claims to be covered, you will be required to hold a current policy at the time theRead More →

Contributed By: RTA on

The majority of tenancies run to the end date and beyond, but when a tenant or property owner’s circumstances change, the tenancy agreement may have to end earlier than expected. When a fixed term agreement is ended before the end date without grounds (i.e without sufficient reason), this is a break lease situation and compensation may need to be paid. The Residential Tenancies Authority (RTA) encourages parties to communicate their intention to end the agreement as early as practicable for the best outcome. If the tenant ends a fixed term agreement early, they may have to pay compensation for loss of rent until the tenancyRead More →

Contributed By: Aon on

Here are some of the ways Public Liability Insurance claims can come about. Do small business owners need Public Liability? Public Liability Insurance is a common insurance policy held by business owners. Regardless of your industry, if your business or service involves  interaction with members of the public in person, Public Liability is a policy you are likely to consider. You may not have needed to claim on a public liability insurance policy before but having a policy should a claim against you arise means it may assist with , the cost associated with them, which can be substantial. What Public Liability claims are made againstRead More →

Contributed By: ARAMA on

TOP night celebrates best of the best! OH, WHAT A NIGHT! The hardest workers and brightest minds in the accommodation industry came together at the Brisbane City Hall on July 26 to celebrate ARAMA’s 2022 TOP Awards. The TOP Awards are designed to highlight, recognise and reward the best in the Management & Lettings rights industry. It was a stunning occasion with a marvellous attendance of almost 300 – a record for an ARAMA event – as industry participants celebrated their own achievements and the success of their peers. The night was designed to honour the best of the best in our amazing industry and toRead More →

Contributed By: Sarah Staerk - Ray White on

In a market first, Ray White Surfers Paradise Group (RWSP) has added a management rights (MR) sales arm to their portfolio, with industry leader Craig Cornish taking the helm. The move is the first time a major real estate player has embraced MR in a meaningful way, pointing to a renewed confidence in the sector after the challenges of the pandemic. Ray White Management Rights Sales will leverage the mammoth brand power Ray White, an Australian-owned brand of over 120 years. With more than 1000 offices across six countries, Ray White is the largest real estate group in Australasia, selling more properties than any otherRead More →

Nary a week goes by that I don’t get asked how to produce a CMA (Slight exaggeration, but I really wanted an excuse to use the word nary). A lot of managers are really struggling with this task, which is a problem because it’s a vital way to win listings. So here’s a super fast 5 minute walk-through that shows you from start to finish, how to do a CMA. Enjoy!Read More →