Property Management Newsletter
RLA 150557
Adelaide Ranked Tenth Most Liveable City in The World
October 2019
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Adelaide has maintained its 10th position and been awarded “ideal” ratings in both education and healthcare sectors. For the second year running, Adelaide has been ranked tenth in The Economist Intelligence Unit’s Global Liveability Index. The top ten list was won again by Vienna, who last year pushed Melbourne from the top spot, held by Melbourne for seven years. This year the two cities remain separated by 0.7 percentage points, with Melbourne still securing second place on the list. Sydney has risen in the ranks from fifth to third, cementing Australia as one of only two countries with the most cities in the top ten. Whilst in previous years, Adelaide has held a higher ranking, the stability of its 10th position is encouraging, especially with “ideal” ratings in both the education and healthcare sectors. Although there has been some movement in the rankings, the top ten has remained unchanged from last year’s report. Climate change is arguably the most pressing global crisis, with the City of Adelaide recently announcing that it has joined the worldwide movement of 36 councils across Australia and more than 900 worldwide to declare climate change as a national emergency.
The ten most liveable cities are as follows: 1. Austria, Vienna 2. Australia, Melbourne 3. Australia, Sydney 4. Japan, Osaka 5. Canada, Calgary 6. Canada, Vancouver 7. Canada, Toronto 8. Japan, Tokyo 9. Denmark, Copenhagen
10. Australia, Adelaide
Air-Con Service – Preventative Maintenance Last summer was a scorcher, so as this summer approaches it might be time to consider arranging for the air- conditioner in your investment property to receive the service and maintenance it needs. Manufacturers recommend air- conditioning equipment should be serviced and maintained regularly to protect warranties, run efficiently and provide longevity to the product. “Air Conditioners are the same as a motor vehicle and need to be serviced regularly to maintain a good running system” Having your air-conditioner serviced on a regular basis will help the unit perform better, be more cost effective long-term and find and address small problems that if left could result in expensive repairs. Heating and cooling professionals say even if you do not suspect that your air conditioning unit has problems, you should have it serviced and inspected at least once every year, especially ducted and evaporative systems. This will ensure it operates at maximum efficiency and will be ready to cool the house in the months when required the most.
Landlord Insurance Health Check 30 day Snapshot
We have leased 20 properties Every property owner wants a secure investment and reliable tenants. But not everything goes to plan, and some events can’t be controlled. What can be controlled is whether you have adequate landlord insurance. Below find the answers to common questions asked by landlords, to better arm you with the knowledge needed to choose the most suitable insurance policy for a rental property. What’s the difference between landlord and home and contents insurance? Home and contents policies typically offer protection for insured events such as fire and storm. However, they often do not cover loss of rent and tenant damage, which is covered under a specialist landlord policy. Does one-size-fit-all? The short answer is ‘No’. The amount of cover and limits offered varies from insurer to insurer. Landlord insurance often offers cover for 4 main areas: tenant damage and loss of rent, contents insurance, building cover and legal liability. Depending on your property and requirements, you may need a policy that covers ALL four, or only one. I have a fantastic property manager – shouldn’t they be enough protection? It helps to have your property managed professionally however even the best property manager cannot control or predict a tenant’s relationship breakdown or job loss, or an attack by Mother Nature, which is why it is important to invest in extra protection. Doesn’t the body corporate look after my insurance? If you own strata titled property (unit or apartment) the body corporate may insure the building and common areas in the property – including common hallways, garden and driveway. The body corporate does not offer protection for unit contents including non-fixed appliances, furniture and electronics, and does not offer protection for loss of rent or legal liability.
Isn’t the point of a bond to cover loss and damage? A lot of the time the bond is just not enough. For example, a tenant may decide not to pay the final rent or water because they figure ‘that’s our bond anyway’. This leaves little money for cleaning and minor repairs. Furry friends – are they covered? People seem to think there is a high risk of animals causing damage in rentals – a key reason landlords say ‘no’ to pets. However, truth is, more damage is caused by a human, which is why more and more property owners are allowing tenants with pets. In addition, pet damage can be covered with a landlord insurance policy, offering protection for domestic animals living at the rental property.
We have had 986 property enquiries with an average of 22 days on815 the market
We have held 66 inspections with 539 prospective tenants through
What about drug labs? There is ongoing panic and chatter about the increase of meth contamination in rentals. Insurance may cover for the cost of meth contamination clean-up, depending on the individual insurer and the specific policies they offer. I have a tenant on a periodic tenancy – does this affect my insurance? A periodic tenancy agreement (month-to-month agreement) may be beneficial as it allows for more flexibility in the tenancy. Many policies require a fixed-term lease to be in place at the time of a loss so make sure you understand your coverage regarding periodic leases and lease continuations, most insurers will not cover lost rent on a periodical lease. If you would like information sent through on specialised landlord insurance policies contact your property manager.
Average rent $449 per week
We have 29,158 tenants on our database
Gary J Smith Real Estate Property Management 403 Marion Road, Plympton SA | (08) 8297 9323 Note: The articles contained within this newsletter are intended as information and opinions only and readers should not rely solely on its content. Whilst every endeavor is made to ensure the content is current and accurate, readers should always seek their own independent professional advice before making decisions. If your property is listed or managed by another agent, please disregard this communication. | RLA 150557