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Elite Property Newsletter_November 2020

Great Results are being achieved and Market Activity remains high.

While the spring season is renowned as the strongest period for real estate, 2020 has certainly created enough turbulence to disrupt even the most tried-and-true assumptions. Thankfully, the real estate market is showing encouraging signs of recovery across the nation which should bolster the confidence of property owners, buyers, tenants and investors alike.

We have seen the increase in the number of houses listed for sale as people feel more assured to sell their most valuable asset in strengthening market conditions, and secondly the number of houses sold as people are confident in the market supporting their purchase with the support of ample government stimulus.

We recently helped a landlord out with a difficult situation', according to Karsin Zhang, an experienced property consultant from our Russell Office.

'I sold a property in the middle of the year during lockdown, which had tenants in it and it was managed by the previous owner self. After the settlement, we found that the carpet was moldy after tenants moved out and tenants refused to fix those damages and pay for it. The new owner told me he is concerned the lockdown would affect him to find new tenants as people are not allowed to travel beyond 5km and he did not want spent too long time on dealing with those issues. So the new owner decided to transfer the lease management to us because he believes we have the ability to help him to maximise his investment, help him to solve all the issues effectively, find suitable new tenants and save his time. ' Karsin said.

So I reached a property manager of ours and we tried to solve the problem together as quickly as possible. We applying to VCAT for the repair order. Finally the previous tenant agreed to paid the damaged fees and we successfully helped the landlord avoid any losses. The teamwork with our property manager is quite effective in this situation, our property manager only spent 1 week to help the new owner find a suitable new tenant and signed a 12 months lease agreement. Since the property on the market, we received nearly 100 enquiry on that property. The owner is quite pleased with our service and professionalism.’

Things will get easier when professionals work together and play to their strengths.

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