P The Sanctuary homes Lodge Real Estate - Issue One
ROPERTY NEWS Ideas to help you when you’re Buying or Selling
selling in 1-2 weeks! SOLD
Lodge knows a thing or two about The Sanctuary....P.3 IN THIS ISSUE OF PROPERTY NEWS • Setting the Stage • Why do properties sell so quickly in Rototuna? • Pitfalls of managing a rental property
LETTER FROM THE
Dear Reader, In this issue of Property News we feature some recent sales in The Sanctuary and look at why these homes sold within 1 to 2 weeks. For more details, please see our page 3 story. Presentation of the home and garden is a key factor in getting a great price for your property. Our page 2 article provides some suggestions for what you can do to help make your property look its best. Managing your own investment property can result in many problems. Our page 4 article this month looks at some of the potential traps and how to avoid them. Remember our team are available to help out with your property needs buying, selling or renting. Just drop in to our office or give us a call. Kind regards, Jeremy O’Rourke Managing Director Lodge Real Estate
Setting the Stage First impressions can make all the difference as to whether the “For Sale” sign in front of your house becomes a “Sold” sign soon after an inspection.
Sellers often achieve a much better result when they make extra effort to stage their home. By ‘setting the stage’ they enable buyers to visualise living in the home. This is where home staging tips can be helpful and give you a more competitive edge in the market. “Home staging” refers to the knack of preparing a house for sale so that it still looks homely and comfortable but doesn’t have such a strong personal stamp on it that potential buyers feel they wouldn’t belong there. That doesn’t mean launching into
expensive interior decorating. In fact, home staging is really the opposite. While interior decorating involves dressing up a house so that it has personal meaning for the owners and reflects their own tastes and interests, home staging refers to removing the strongly personal element from a home while helping it to appeal to the broadest possible range of buyers. In addition to the usual preparation for sale, such as keeping the home clean and tidy and ensuring there is as much light and air as possible. Home staging involves two main points of action.
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This refers to removing your ‘personal footprint.’ If you have lots of family photographs, ornaments, souvenirs, children’s drawings and such things throughout the house, it is advisable to put most of them away. Sporting trophies, personal hobby materials and books can be stored in boxes until you set up in your new home. If you’ve turned the study into a craft room, clear it out and turn it back into a study while the house is on the market. CREATE SPACE This is another form of decluttering but relates to the interiors of drawers, cupboards and any other storage you have. People often look in cupboards when inspecting a home and if they find them filled to bursting they will assume there is not enough storage space. Give things away, sell them or store them elsewhere, so that you have well presented cupboards and even a few empty shelves here and there.
Find out why properties sell quickly in Rototuna After selling 27 properties in the popular community known as The Sanctuary in Rototuna, it’s fair to say Greg Hugill, residential sales consultant at Lodge Real Estate knows everything there is to know about residential property. Eleven years ago, The Sanctuary attracted a large number of Aucklandbased property investors, but today about 50 per cent of the residents are owners. “Auckland investors are seeing that it is the right time to sell and the market has lifted. It’s becoming more and more owner occupied. Rototuna’s market has become increasingly sought after with school zoning being a big factor. The Sanctuary offers good value for money compared to other homes in the area, particularly given the facilities it offers,” said Greg. Those facilities include security gates, fencing, swimming pool, spa, gym, sauna, tennis court, recreation room, movie room, party room, barbecue area, and manicured lawns and gardens. When a home at The Sanctuary goes on the market, it doesn’t last long before it’s sold. “The last three I’ve sold took one to two weeks to sell, mainly because I keep a good database of buyers who are wanting to get into this area,” said Greg. The Sanctuary is so popular that
“Properties in The Santuary sell too quickly for newspaper advertising.” Greg Hugill there’s little need for elaborate marketing campaigns. “It’s primarily internet-based marketing such as realestate.co.nz. Properties sell too quickly for newspaper advertising. I have large signboards that attract attention too,” said Greg. “It is a multi-national community with a range of buyers. We’ve got retirees who didn’t want to go into a retirement village and mature kiwi professionals who wanted a secure home that they can lock-up and leave when they go to their beach houses, as well as first home buyers who want to be in Rototuna for it’s school zones. The Sanctuary is an affordable way to
do that.” The secure premise consists of 107 properties. It’s an easy walk to the Rototuna Primary School and most of the suburb’s supermarkets, restaurants, takeaways and medical centres. The attractive lifestyle complex is certainly a hot commodity. “Prices will keep increasing. Currently each time I sell I’m reaching record prices. It’s mainly due to lack of supply, which I can’t see changing anytime soon,” said Greg. Express your interest in buying a property at The Sanctuary by contacting Lodge Real Estate today.
Pitfalls of managing a rental property Long-term landlords will tell you that a good Property Manager is worth their weight in gold
“Why is this so complicated?” asked a landlord who trying to manage their own property. Having decided to rent out their property themselves, it wasn’t long before they hired to a professional property management team to help them get their investment back on track. Renting out proper ty seems straightforward. Provided you find the ideal tenants who pay rent on time and do not damage or disrespect your property ie: cooking or selling illegal substances from the home. Having managed numerous rental properties over the years, our property management team can tell you that every cent spent on having a property professionally managed can mean the difference between your investment making a profit or loss. Let’s have a look at three traps doit-yourself landlords have problems with when it comes to managing tenants: Firstly, failing to ask for a bond This is a security amount held in case the tenant doesn’t meet their obligations in maintaining your property to a reasonable standard, or incurs damages to the property.
Like the saying, “You can’t judge a book by its cover,” it can be very easy to misjudge tenants. Often it is found that those who many would consider to be tenants of outstanding character, leave rental properties in a state that resembles the inside of a garbage truck. Unfortunately, you just can’t tell who will stick by the rules, and who won’t. At least when you have the maximum rental bond in place, when the tenant leaves you have the security of four weeks rent to offset any liabilities created by a tenant. Secondly, not having a written Tenancy Agreement This is a legally enforceable contract which spells out all the terms both the landlord and tenant have agreed to. It is a safe-guard for both the landlord and the tenant. Without this type of contract, if anything goes wrong and the tenant disputes the claim, it is the landlord’s word against the tenant as to what was agreed upon when entering the tenancy. The absence of a Tenancy Agreement leaves a landlord open to potentially going down the road of litigation in trying to rectify the problems caused by the misunderstanding between landlord and tenant.
Thirdly, interpretation of New Zealand Tenancy Laws Tenancies in New Zealand are governed by the Residential Tenancies ACT 1986, which includes amendments which can change without notice from time to time. With a professional Property Manager on the case, you can rest reassured that they are obligated to keep up to date with changes in legislation affecting landlords and tenants. However if you decide to manage your own property, the responsibility will be on your shoulders to keep abreast of the changes to legislation. This is often stressful and could mean facing future fines or penalties if you get caught out. These three traps are just a few things that need consideration before self-managing a rental property. If you speak to long-term landlords who own a number of properties, they will tell you that a good Property Manager is worth their weight in gold, freeing them up to enjoy the benefits of their investment without the day-to-day hassles. To discuss your options when it comes to managing your rental property please give our Property Management team a call. They are ready and available to help you make the most of your investment.