Property investment tip 37: Your property manager or strata manager will not always help you

The property manager (or strata manager) is the main point of contact for landlords and tenants who own or live in multi-unit buildings. As such, people believe property managers can fix every building problem. This is not true. The property manager informs the Body Corporate Committee (or Strata Committee) of a problem. The Committee makes a decision and gives instructions...

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Property investment tip 36: Renovating a property to attract more tenants and buyers

Renovating a property can significantly increase the value and attract more tenants and buyers. But with a thousand ways to renovate a property, where should you begin? I’ve renovated four properties, and have concluded that, there are three key features of a property which have the greatest impact on a buyer or a tenant’s first impression. These three features are...

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Property investment tip 35: Is it better to buy a house or an apartment?

Should you buy a house or an apartment? Some people believe buying a house is a better investment because the real value is in the land. Land increases in more value than buildings over the long-term. Other people prefer investing in apartments because they offer an affordable entry into competitive property markets. Regardless, houses and apartments are both good investments....

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Property investment tip 34: Beware of buying a property with a flat roof

A roof top is flat or slanted. Before buying a property with a flat roof, obtain a building inspection report detailing the state and age of the roof. Repairing a damaged roof is one of the most costly expenses for a property investor. Think twice about buying a property with a flat roof Two of my properties have flat roofs. The opportunity of owning...

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Property investment tip 33: Interest-only mortgage or a principal and interest (repayment) mortgage: Which is better?

When you purchase a property, there are two types of mortgages you can select from: an interest-only mortgage or a principal and interest mortgage, which is also known as a repayment mortgage in some countries. Interest-only mortgage or a principal and interest mortgage? ‘Principal’ is the amount you borrow from the lender. For example, I buy a $100,000 house with...

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Property investment tip 32: Do not always trust your Body Corporate or Strata Committee

You immediately become a member of the Body Corporate (or Owners Corporation), when you buy a property in a shared building or complex. All the other landlords in the same building and complex are also members of the Body Corporate. The Body Corporate is responsible for the daily property management and maintenance of the building and the communal areas. Some...

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