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Residential Tenancies Act Review: What you need to know

Seaside Asset Management Group 13/06/2018

The Residential Tenancies Act (RTA) is the primary governing legislation to manage the relationship between landlords and tenants in Victoria. As of 2017, 25% of the Victorian population live in a rental property, with house prices increasing unfortunately the dream of owning your own home is becoming less of a reality. In recognition of the changing environment, the residential tenancies act is currently under review. It is imperative as a landlord to remain informed during this proces...

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The good and the bad of month-to-month leases

Seaside Asset Management Group 23/10/2017

When you don’t sign a new lease at the end of your tenancy (i.e. renew a lease of which generally expires after 6 or 12 months for many residential properties) you’ll be leasing your property on a periodic agreement (or as many of you know a month-by-month) agreement. This mean that you have consented to a tenancy outside of a fixed-term. This is good and bad – depending on how you look at it. The lease conditions (i.e. the original agreement) are still in place-but your tenant could l...

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How do the potential changes to the Residential Tenancy Act affect you?

Seaside Asset Management Group 12/10/2017

Since early 2015 the Victorian Residential Tenancy Act as been under review and the government has just released potential changes- (pending review) After working in the industry for many years these changes in my opinion are going to heavily impact not just owners but also tenants. Some of the major potential changes include: The potential for fixed term leases in excess of 5 years What does this mean? Currently, it is widely suggested that initial lease terms (for a new tenan...

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Local events in Frankston coming up!!!

Seaside Asset Management Group 04/10/2017

Not only does Frankston have one of the most beautiful beaches on the Mornington Peninsula (arguably the best) there is so many family friendly events within Frankston that will keep the family occupied this summer!  Sunday the 8th of October- With a beautiful day forecast (some showers) why not take the whole family along to Pets Day Out, this annual event will be held at Ballam Park and is completely FREE!! There will be a day of entertainment and giveaways- plus plenty of cute furry anima...

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Meth Labs and Meth Testing to become “normal” in residential rental properties?

Seaside Asset Management Group 04/09/2017

This is an upcoming concern for all property managers and their directors- Methamphetamine production has sky rocketed in the last few years, more often than not properties are leased by “tenants” for the pure purpose of having somewhere to “cook” and then disappear without a trace. Which leaves owners with a clean-up bill in excess of $70,000 but can be as high as needing to demolish and rebuild. This is more common than many home owners think, prior to launching my own property mana...

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Families paying premium rent to live in Frankston High School Zone!

Seaside Asset Management Group 27/08/2017

It’s no secret that Frankston High School is one of the top schools on the Mornington Peninsula, many families are sacrificing home ownership to rent in the “Frankston High School Zone” in which is sky rocketing rental prices (also home prices) which is a common trend across all high performing school suburbs across Melbourne. The median rental price in Frankston High School Zone is $450 per week, fetching on average $85 per week more than properties outside of the zone- The average hou...

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Tax Depreciation Schedules are a must!!

Seaside Asset Management Group 11/08/2017

Do you claim wear and tear on that car you purchased that you use for work? Well many investors aren’t aware that you can also claim the depreciation of your investment property against your taxable income. Informed property investors know all about property depreciation. Infact some even take this into account before they purchase their next investment property. But this isn’t just for the professionals, anyone who purchases a property for an income producing purpose is entitled to depre...

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Two Ways to attract higher rent….YES you heard right!!

Seaside Asset Management Group 03/08/2017

2 Ways to attract higher rent... Yes you heard right!  It’s absolutely not a secret that the rental market in some areas of our country is low, but just because some particular areas don’t have growth doesn’t mean that investors can’t achieve a higher rental return- The truth is, you can manipulate higher rents no matter what the current market is doing- (yes you can, keep reading) I’ll explain below 2 of Seaside Asset Management’s strategies to achieve a higher return. 1. ...

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Frankston Profile!

Seaside Asset Management Group 28/07/2017

The size of Frankston is approximately 20 square kilometres. It has 51 parks covering nearly 20% of total area. The population of Frankston in 2006 was 33,701 people. By 2011 the population was 35,032 showing a population growth of 3% in the area during that time. The predominant age group in Frankston is 0-14 years. Households in Frankston are primarily couples with children and are likely to be repaying between $1800 - $2400 per month on mortgage ...

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Property Management

Seaside Asset Management Group 02/07/2017 0 Comments

Why invest in property? As an investment property owner, you want to know that your property or properties are being managed by a team of professional, ethical and caring people. This is what Seaside Asset Management Group strive to achieve for all of their investment property owners. Seaside Asset Management Group can offer you a personalised service, from advertising your property on leading realestate portals through to finding a quality tenant who will treat your property as their home. W...

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