Maximize your investment and protect yourself from litigation resulting from unaddressed maintenance issues!

When your Property Manager suggests preventative or annual maintenance, TAKE NOTE! It’s in your best interest to listen to their suggestions.

Regular inspections are carried out by your Property Managers who are trained to point out preventative and necessary maintenance. Part of our service to you is to provide you with this information and when we do its important that it is considered. This will help maximize your rental return and protect you against litigation that could result from injury or damages relating to unaddressed maintenance issues.

A recent article in the REIQ Journal outlined the importance for large corporations to address preventative maintenance to avoid expensive law suits that could result from injuries to visitors or guests, where the condition and requirement for maintenance can be seen from a visual inspection by an untrained person.

In the specific case Corkery and Ors V Kingfisher Bay Resort and Village Pty Ltd and Anor, (outlined in the July 2010 edition of the REIQ Journal) The Plaintiff (Corkery) and his family were holidaying at the King Fisher Bay Resort when he slipped and fell on an external timber stair case causing severe back and shoulder injuries. The Court took looked at 2 things when deciding on the case. Were the stairs slippery? Did it follow that the defendants being the Resort Operators were negligent?

In relation to the question, were the stairs slippery, the judge took into consideration that the stairs were outdoors and exposed to the elements, and rain, which had occurred earlier that day, and that testing by expert engineers demonstrated that the stairs were slippery and did not meet the required building standards. Although the stairs had been treated with a varnish containing some grit for slip resistance, it was clear from a visual inspection that the varnish had worn off in the middle of the stair treads and therefore provided little grip material. The judge did conclude that when the stairs were wet, as in the case when the plaintiff fell, they were slippery and therefore posed a safety hazard.

Was the resort Negligent?  The judge concluded that the “condition of the steps suggest a lack of maintenance” he noted that it was apparent that the stairs had been treated but that the defendants had not taken appropriate measures to ensure they continued to be maintained in a safe condition.

How does this affect you and your rental property?

Preventative maintenance is no less important on a smaller scale.

There are a number of cases where a tenant has suffered injury and claimed it to be as a result of lack of maintenance by the landlord. In the case of Muir v Hume [2003] QSC 191 the tenant was awarded in excess of $1 mil for injuries and losses she claimed she suffered as a result of a fall that was caused by a hole in the carpet in the property that she rented.

How do I make sure that my rental property is well maintained?

Listen and act on your Property Managers suggestions.

Regular inspections are carried out on your rental property.

The first inspection is carried out 8 weeks after a new tenant moves into your property and then periodic inspections are carried out thereafter for the remainder of the tenancy.

Your Property Manager will send you reports from all periodic inspections that are undertaken. In these reports the Property Manager will point out any maintenance that is required for the property. It is then up to you to authorise for this maintenance to be carried out.

Some repairs will need to be addressed immediately while other maintenance issues will be reported with a suggested time frame completion.

It’s our job to do the hard work for you, and our aim is to provide you with a great tenant and professional opinion. Great tenants can only be happy if the property they are renting is safe and well maintained. Ensure the longevity of a great tenant by utilising the knowledge and experience of your Property Manager, discuss and act when it comes to the regular and preventative maintenance of your investment property.

There are many taxes and deductions associated with investment properties. Knowing what can and can’t be claimed makes things much easier at tax time.

What you can claim as an immediate deduction

There are a number of rental expenses that can be claimed as an immediate deduction. That means that the full deductable amount can be claimed in the same financial year that the expense occurred.

Immediate deductions you may be able to claim include the following:

• Repairing part of the guttering or windows damaged in a storm or repairing part of a fence damaged by a fallen tree.
• Maintaining plumbing, repairing electrical appliances or appliances as well as painting or cleaning something that is otherwise in good working condition.
• Interest on a loan that has been used to:
• Purchase a rental property or purchase land to build a rental property.
• Purchase a depreciating asset for the property, for example an air conditioner
• Finance renovations
• Make maintenance repairs or repair damage to the property

Expenses that need to be claimed over a number of years:

Some expenses need to be claimed over a number of years. These include most borrowing costs and the cost of depreciating assets and structural improvements.

Borrowing costs may include:

• stamp duty charged on the mortgage
• loan establishment fees, fees for valuation required for loan approval and lenders mortgage insurance
• title search fees charged by your lender, costs of preparing and filing mortgage documents and mortgage broker fees

These amounts are only deductable immediately if they are less that $100 in total. Usually, they are deductible over five years or over the term of the loan, whichever is less.

Major renovation costs and costs to repair major damage, defects or deterioration upon purchasing a property can’t be claimed as an immediate deduction. These costs generally must be claimed as either a deduction for decline in value over the asset’s effective life, or as a capital works deduction over 25 or 40 years.

What you cannot claim

While there may be substantial tax benefits with rental properties, it’s important to remember that not everything can be claimed.

Below the ATO lists common expenses that cannot be claimed:

• deductions for rental properties that are not genuinely for rent
• travel expenses where you may see your rental property, however the main purpose of the trip is a personal holiday
• stamp duty charged by your state/territory government on the transfer of the property title or leasehold interest (except in the ACT, where stamp duty is claimable)
• insurance premiums where under the policy your loan will be paid out in the event that you die, become disabled or unemployed
• borrowing expenses on the portion of a loan you use for private purposes
• solicitors fees for the purchase of a property and the preparation of loan documents
• legal costs associated with resisting land resumption or defending the title of your property

For more information , visit the ATO website or consult with a qualified professional tax agent.

Reference: ATO website

Tony’s comment

Make no mistake- This is the most important time of the year for your investment and the cash flow for the next financial year.

By now if you are reading these articles you know that Sandy and I are Investors too.

Cash flow at this time of the year is aways on your mind. I believe it is how much you are prepared to get into the detail that makes the difference. If you don’t prepare your accounts properly for the accountant you will miss out on some deductions.

Make sure that you claim everything you can, because depending on your income  you may get 25% to 47% back for all legitimate expenses. Have you included some home office expenses, how about the mileage and expenses related to go to your rental property. That air conditioner that you put in last year, do you have the dockets for it, plus the installation costs. What about the insulation that was installed before the government changed its mind. I know on one of my properties we have spent money on  repairs after the tenant left,$4000.00- anew pump $1600.00, fixing the effluent system $350.00, new face to the dishwasher $350.00, advertising to get a new tenant $500.00, Lawn mowing and garden maintenance $1000.00 and that’s just off the top of my head and that’s $7450.00 lets say at 25tax rebate that’s a whopping $1862.00 that the Government will pay us back, and of course we have agents expenses, accountant expenses etc etc.

NO WONDER WE WONDER WHERE THE MONEY IS.

Have a good week cheers Tony

PS These are my own personal comments only. You should get advice directly from your accountant, but ask him to work with you to get everything that you legally can. Heavens knows you can spend it on better things than what the tax man can.

Brought to you by Tony Nash – RE/MAX Property Associates Sunshine Coast
Phone Tony and his team today on  07 5452 4545
www.rentaladvice.com.au

The Property Managers do an amazing job, however in times like these there are quite a number of tenants looking to rent, and the million dollar question is……

Will they end up being the tenant from hell?

We all see them on TV (the tenants from hell!), thankfully in our experience it doesn’t happen very often, but unfortunately there will be times when we are going to end up with a tenant that does damage to our property. The Real Estate Company checks references and they look at state and nation wide registers which alert us to the really bad eggs, but there is always an exception to the rule….the good tenant that went bad, something has gone wrong, they are in to drugs or alcohol or goodness knows what, and we are left out of pocket.

As Investors the cash flow is always the thing that is hardest to maintain, and when we get a tenant who absconds without paying for damages, in excess of their bond, it will be left up to us to pick up the pieces and get the property back on the market.( It happened to us just recently…. we were lucky we did recover some costs, but in reality we were out of pocket!).

Landlord Insurance is something that we take on every property. We always think this way, we are really only worried about the very bad and malicious tenant, and how would we cope if the place was trashed and we needed to spend 30- 40 thousand dollars to fix it?

In all honesty, we would struggle, so what we do, is take out a landlords insurance. The insurance is an expense and as such can be a deduction depending on how much tax you are paying as it is subsidised by the government ( I like that!). So really, it is a price worth paying, for the peace of mind that it gives us.

Read on and make your own decision…It could be the best thing you do this year!

Landlord insurance is a policy to cover a property owner from financial losses connected with their investment property. It is one of the best ways to protect your investment. While every landlord /agent endeavors to secure the perfect tenant there will most likely be times when this is not reality. Things can go wrong even when good tenants are in place, with landlord insurance these problems can be minimized.

Landlord insurance provides you with protection from loss or damage, in certain circumstances, to give you peace of mind about your investment property. This type of insurance does not provide you with building insurance. Most general coverage offered through landlord insurance may include:

Coverage from the loss and damage done by your tenants

Coverage for malicious damage to your property from a tenant or their guest.

Coverage from the loss of rent (usually up to 12 months) if the home becomes uninhabitable because of your tenants actions.

The loss of rent if the tenant defaults.

As with all insurance policies, be sure to know what your individual plan offers and does not offer before accepting it.

Question for Your Provider

What is the basic cost of the policy?

What does the basic policy include?

What is not included?

What additional covers are available?

What items may be excluded from a claim?

What is the maximum payout per incident?

What is the maximum payout per policy?

Ways to Save on Landlord Insurance

Landlord insurance is an inexpensive type of insurance in most situations. Your location, security features and other factors will play a role in the cost of the policy. You can save money on these policies by taking the time to limit the cover to just what is needed. Work with your insurance provider to get the lowest possible rate.

Beware Before Signing

There are not too many risks to consider with a reputable company, but it is worth taking the time to read through your renters’ insurance contract and know what it says throughout. Do not make the mistake of believing something is covered if it is not. Also know how the insurance company requires you to make a claim. Know as much about the policy as you can before agreeing to it.

Additional Coverage to Consider

Landlord insurance is a way to help you protect your investment but it may not provide enough protection. You may need to consider insurance on the building itself to cover the cost of such aspects as fire and flood. The right type of insurance is important to have on all angles.

Reference: Insurance Zone

Brought to you by Tony Nash – RE/MAX Property Associates Sunshine Coast
Phone Tony and his team today on  07 5452 4545
www.rentaladvice.com.au

Minimising the time your investment property is vacant equals a higher investment income at the end of the year.

When a tenants lease is up for renewal, the first thought that crosses many owners minds is “should I go for a rent increase.” While going for that increase is any owner’s perogative, keep in mind the risk of losing a good long term tenant.

As interest rates begin to rise owner investors may feel like their wallets are shrinking, and in an effort to cover cost may consider increasing the rent on their property. Before making the decision the financial considerations should be balanced against the importance of keeping a good long term tenant in the property.

In times of economic uncertainty it is important to consider that tenants also have financial obligations of their own. Raising the rent too high to meet mortgage repayments may also force a tenant to search for a place with a lower rent.

While small bumps in rental price of say $5-10p/w are often received well by long term tenants, especially if it is the first bump in a few years, a large increase of say $20-25p/w can often result in a tenant moving out. As it usually takes anywhere between 2 and 6 weeks to find a new tenant for the property, owners need to consider whether having the property vacant and generating no income for this long is worth the increase in rent.

Good tenants care for a property as if it were their own. In turn this can equal money the owner doesn’t have to spend maintaining the property. This, coupled with the security that comes with knowing you have a set amount of rent coming in over a long period can also offer peace of mind to the owner.

Considering the above doesn’t mean an owner should never raise the rent on their property; it does mean owners should think carefully before significantly increasing the rent. Often it may be worthwhile rewarding a good long term tenant by keeping rent increases to a minimum. Market conditions, supply and demand, and economic climate are all factors which will reflect rentals prices and in turn should be considered at the time of lease renewals and rent increases, or in more unfortunate time’s decreases.

We request instruction from our landlords in advance with a suggested rent and a term of 6 or 12 months. We ask our landlords to send back their instructions as promptly as possible to ensure leases are drawn up and sent out in plenty of time i.e.: prior to the expiration of the current lease.

The residential Tenancies Authority website listed below gives up to date information on required notice periods for Landlords/Agents and Tenants

www.rta.qld.gov.au

There are many specialized jobs which fall under the Property Management banner, from leasing through to maintenance through to trust accounting. Our Property Managers are trained in all areas; however we have specific tasks for each Property Manager in our offices.

The first and most important step in Property Management is securing a good tenant.

Some Landlords decide that if they have a good tenant they are able to manage their own property, and although for some this may work, at some point most will require the service, expertise and knowledge of a professional Property Manager.

One very important point to consider is Routine Inspection Reports. Our office conducts regular routine inspections on all of the properties we manage. We consider factors such as cleanliness, condition of carpet, walls, fly screens, windows and shower screens. Items which may be missed can become major issues when the “good tenant” vacates the property. If any issues arise at the time of the routine, they can be managed and resolved promptly. We take photos and send written reports (usually via email) to our landlords at every routine inspection.

Would you consider selling your own property?

Most people would not consider selling their own property; such a large transaction requires the services and expertise of a professional who is licensed to manage the sale of such an important investment. The same applies for Property Management, your investment property is a valuable asset, and money you think you may save in management fees can be swallowed up by one small thing going wrong.

Even good tenants require problems to be resolved and dealt with in a reasonable time frame whilst following the law. Just like with the sale of a property it is also worth considering having a third party to act between the landlord and the tenant for your investment. Emotions can come into play when as the landlord it is your money and investment that is being dealt with, just as the tenant can be emotionally involved when they consider your investment to be their home. In these situations it is always beneficial to have a third party professional.

The following are some essential points to consider:

WHY DO YOU NEED A PROPERTY MANAGER IF YOU HAVE A GOOD TENANT?

• Maintenance
• Routine Inspections
• Review Rents
• Renew Leases
• Collect rent
• Exit Reports
• Secure another good tenant!

If you would like to speak to one of our Business Development Managers, regarding our Property Management services please contact our office on 07 5452 4545 for further information.

Brought to you by Tony Nash – RE/MAX Property Associates Sunshine Coast
Phone Tony and his team today on  07 5452 4545
www.rentaladvice.com.au

The following is taken from the Governments media release.

The changes announced by the Government include:

• The establishment of a new household Renewable Energy Bonus Scheme to replace the Home Insulation Program and the Solar Hot Water Rebate.
• The changes announced today will ensure the Government continues to help householders and business contribute to Australia’s efforts to transition to a low carbon economy.

The changes announced today put householders back in charge of the environmental products installed in their home. These changes will benefit good green businesses and are bad for the shonky operators who have begun exploiting this market.

A new household Renewable Energy Bonus scheme

A new household Renewable Energy Bonus Scheme will assist households save money on power bills and reduce their carbon emissions.

This new Scheme will replace the Home Insulation Program and the Solar Hot Water Rebate Program both of which have been discontinued as of close of business today. The Government’s focus is on the safety of households and tradespeople who will both benefit from the operation of this new scheme.

Under the household Renewable Energy Bonus scheme households will be able to receive a rebate for the installation of ceiling insulation or a solar hot water system or a heat pump. $1000 rebates will be available for ceiling installation and solar hot water systems and $600 rebates for heat pumps systems. The new rebate for solar hot water systems and heat pumps will be available for systems installed after today.

This scheme will institute several key changes to the delivery of ceiling insulation including:

• Householders – rather than installers – will claim the $1000 rebate directly through the Medicare system.
• Introducing a new registration scheme requiring all installers to reregister, pay a cash bond, show evidence of meeting the training and skills requirements and provide certified quality assurance and occupational health and safety plans.
• Introducing a strengthened compliance regime in concert with State and Territory occupational health and safety and fair trading authorities.

It is intended that the insulation component of the Renewable Energy Bonus scheme will come into operation by 1 June.

The Government’s objective remains to see insulation installed in up to 1.9 million homes, including those already installed under the discontinued Home Insulation Program, to be completed by 2011. The Government will also be commissioning an external assessment of the proposed implementation arrangements for the household Renewable Energy Bonus scheme and will continue to provide oversight to the scheme during its operation. This assessment will consider whether the arrangements and planned timelines proposed for the scheme’s implementation are sufficient to meet the Government’s expectations of safety.

In relation the discontinuation of the Home Insulation Program, installers will have seven days to claim outstanding rebates for work completed prior to close of business today. The Government is prepared to consider appropriate transitional arrangements for legitimate industry participants and a hotline will be available.

The Government attaches particular priority on the impact of this announcement on workers. Workers will have immediate access to assistance under the Government’s Compact for Retrenched Workers, meaning they will get immediate access to high level support, including access to retraining support and help in finding another job as quickly as possible. A hotline will be available for them too.

The Government will continue to roll out an existing electrical safety inspection program of all homes that have had foil insulation installed under the Program. The Government will also be prepared to check as many houses as necessary which have insulation installed under the Home Insulation Program.

The Government will also establish a new Home Insulation Program Review Office to handle all complaints and inquiries and immediately address risks created by unscrupulous operators and will appoint an independent reviewer to conduct a review of the Home Insulation Program design, implementation and delivery.

Brought to you by Tony Nash – RE/MAX Property Associates Sunshine Coast
Phone Tony and his team today on  07 5452 4545
www.rentaladvice.com.au

The following is taken from the Residential Tenancies Authority website which can be viewed here.

When a tenant gives notice of their intention to leave

The minimum notice period a tenant needs to give the landlord or Property Manager if they want to move out when giving a notice of intention to leave (form 13) is:

• seven (7) days for an unremedied breach
• seven (7) days for non-compliance with a Queensland Civil and Administrative Tribunal (QCAT) order
• the same day for non-livability
• 14 days for compulsory acquisition
• 14 days without grounds (no reason) under a periodic agreement
• 14 days or the end of the term (whichever is later) without grounds under a fixed term agreement.

If the tenant doesn’t give the correct amount of notice and use the correct form, they may be subject to a claim for compensation from the lessor/agent.

When a lessor/agent gives a notice to leave

The minimum notice period a lessor/agent must give a tenant if they want them to leave when giving a notice to leave (form 12) is:

• seven (7) days for unremedied rent arrears
• 14 days for an unremedied breach
• seven (7) days for non-compliance with a QCAT order
• the same day for non-livability
• two (2) months for compulsory acquisition
• four (4) weeks for a sale contract signed when the tenants are on a periodic agreement
• two (2) months without grounds (no reason) under a periodic agreement
• two (2) months or the end of the term (whichever is later) without grounds under a fixed term agreement.

Giving the correct notice is vital for both tenants and Lessors/Agents. For more information about starting, during or ending a tenancy please visit the RTA website here.

Brought to you by Tony Nash – RE/MAX Property Associates Sunshine Coast
Phone Tony and his team today on  07 5452 4545
www.rentaladvice.com.au

The onus is on the tenants to ensure day to day water consumption is kept to a minimum. The new laws are limiting water consumption to 200L per person in the household. However, it is the owner’s responsibility to ensure that the properties water fittings are compliant with water consumption and efficiency laws.

To help Landlords get up to date with the ever changing laws there are some fact sheets and information available here. The main points that Landlords will need to focus on are in regards to Pools/Spas, and efficient irrigation.

In regards to pools and spas, there are new laws and rules regarding filling pools with town water and the devices needed to ensure the tenant has other options for filling the pool, and the owners of Pools and spas are also required to have (3) of the following (4) water saving devices on the premises:

• A swimming pool and/or spa cover
• Water efficient showerheads and taps
• Water efficient toilets
• A water efficient washing machine

The new laws surrounding efficient irrigation are quite in depth and will not apply to all landlords, especially those who own units or townhouses, or have very little lawn or garden.

Ensuring the property is compliant is of the upmost importance for owners, as tenants at non compliant properties CANNOT BE CHARGED FOR ANY WATER CONSUMPTION. A water compliant certificate is required in order to charge the tenant for water consumption. Properties must be made compliant by dates specified by the Queensland Water Commission. Compliance date information is available here for those owners not in a position to make immediate upgrades the property’s relevant plumbing.

Landlords should contact their property managers as soon as possible to discuss the best way to get the property compliant with the new laws. For more information please check out the Queensland Water Commission home page.

Brought to you by Tony Nash – RE/MAX Property Associates Sunshine Coast
Phone Tony and his team today on 07 5452 4545
www.rentaladvice.com.au

In its December Rental Report, Australian Property Monitors forecasts rental increases of up to 11% in Perth, 8% in Brisbane, 5-7% in Melbourne and more than 4.4% in Sydney. This could take median house rents in Perth, Brisbane and Melbourne up to around $400 per week while Sydney’s median could hit $500.

To Read the full report by APM Please click here.

This article is courtesy of RFS Finance.

Brought to you by Tony Nash – RE/MAX Property Associates Sunshine Coast
Phone Tony and his team today on  07 5452 4545
www.rentaladvice.com.au

1 Bedroom Apartments

1 bedroom apartments saw a $10 average rise across the Sunshine Coast with the top performing areas including the Caloundra inland region and the Maroochy Coastal Region. The Noosa Coastal Region saw a rather steep fall of $15 this quarter.

• Sunshine Coast Council Area – $240 p/w (up from $230 p/w in the September 08’ Quarter)
• Caloundra Coastal Region – $280 p/w (down from $283 p/w in the September 08’ Quarter)
• Caloundra Inland region – $220 p/w (up from $180 p/w in the September 08’ Quarter)
• Maroochy Coastal Region – $230 p/w (up from $220 p/w in the September 08’ Quarter)
• Noosa Coastal Region – $255 p/w (down from $270 p/w in the September 08’ Quarter)

2 Bedroom Apartments

2 bedroom apartments saw a $5 average rise across the Sunshine Coast. Maroochy and Noosa Coastal regions saw a rise of $5 each and the Caloundra Inland region was the top performer with a $15 rise. The only region that saw a decline here was the Caloundra Coastal Region with a $15 drop.

• Sunshine Coast Council Area – $290 p/w (up from $285 p/w in the September 08’ Quarter)
• Caloundra Coastal Region – $285 p/w (down from $290 p/w in the September 08’ Quarter)
• Caloundra Inland Region - $265 p/w (up from $250 p/w in the September 08’ Quarter)
• Maroochy Coastal Region – $285 p/w (up from $280 p/w in the September 08’ Quarter)
• Noosa Coastal Region – $300 p/w (up from $295 p/w in the September 08’ Quarter)

3 Bedroom Apartments

The Sunshine Coast saw median prices for 3 bedroom prices stay level with the September 08’ figures.  The Noosa Coastal Region did well here seeing a $30 rise in price.

• Sunshine Coast Council Area – $350 p/w (same as the September 08’ Quarter)
• Caloundra Coast Region – $370 p/w (same as the September 08’ Quarter)
• Caloundra Inland Region – $285 p/w (up from $280 p/w in the September 08’ Quarter)
• Maroochy Coastal Region – $340 p/w (down from $350 p/w in the September 08’ Quarter)
• Noosa Coastal Region – $390 p/w (up from $360 p/w in the September 08’ Quarter)

2 Bedroom Houses

2 bedroom houses gained value in the Caloundra Inland, Maroochy Coastal and Noosa Coastal regions facilitating an overall $10 average price rise across the Sunshine Coast. Only the Caloundra Coastal Region moved downwards to the tune of $5 p/w.

• Sunshine Coast Council Area – $300 p/w (up from $290 p/w in the September 08’ Quarter)
• Caloundra Coastal Region – $295 p/w (down from $300 p/w in the September 08’ Quarter)
• Caloundra Inland Region – $280 p/w (up from $275 p/w in the September 08’ Quarter)
• Maroochy Coastal Region – $300 p/w (up from $295 p/w in the September 08’ Quarter)
• Maroochy Inland Region – $300 p/w (same as the September 08’ Quarter)
• Noosa Coastal Region – $300 p/w (up from $275 p/w in the September 08’ Quarter)
• Noosa Inland Region – $280 p/w (same as the September 08’ Quarter)

3 Bedroom Houses

3 Bedroom house average rental prices stayed the same on the Sunshine Coast this Quarter. The big winner was the Noosa Coastal region with a $20 upward move, whereas the Caloundra Coastal Region saw a $10 drop in average rental prices.

• Sunshine Coast Council Area – $350 p/w (same as the September 08’ Quarter)
• Caloundra Coastal Region – $350 p/w (down from $360 p/w in the September 08’ Quarter)
• Caloundra Inland Region – $320 p/w (same as the September 08’ Quarter)
• Maroochy Coastal Region – $350 p/w (same as the September 08’ Quarter)
• Maroochy Inland Region – $350 p/w (same as the September 08’ Quarter)
• Noosa Coastal Region – $380 p/w (up from $360 p/w in the September 08’ Quarter)
• Noosa Inland Region – $330 p/w (up from $320 p/w in the September 08’ Quarter)

4 Bedroom Houses

4 Bedroom houses saw more drops than gains this quarter with the average price dropping by $10 across the Sunshine Coast. The Caloundra Inland, Maroochy Coastal and Noosa Coastal Regions managed to stay level with last quarter, but all other regions saw red. The biggest drop in average price was $30 in the Caloundra Coastal Region.

• Sunshine Coast Council Area – $410 p/w (down from $420 p/w in the September 08’ Quarter)
• Caloundra Coastal Region – $400 p/w (down from $430 p/w in the September 08’ Quarter)
• Caloundra Inland Region – $380 p/w (same as the September 08’ Quarter)
• Maroochy Coastal Region – $420 p/w (same as the September 08’ Quarter)
• Maroochy Inland Region – $440 p/w (down from $450 p/w in the September 08’ Quarter)
• Noosa Coastal Region – $440 p/w (same as the September 08’ Quarter)
• Noosa Inland Region – $360 p/w (down from $370 p/w in the September 08’ Quarter)

Overall the Sunshine Coast is still a great place to invest. Whilst the Australian National Average fell 3.5% from the September last year, average rental prices on the Sunshine Coast have gained 0.77% on last year, despite all the doom and gloom portrayed in the media. Being out of the major cities, the Coast hasn’t been as affected by the Global Financial Crisis as some other areas. On the whole it seems like coastal properties have lost some ground while inland properties gained because of tenants cutting costs by moving away from the more expensive coastal areas, raising the vacancy rates in these areas and forcing prices down. This in turn lowers the vacancy rate in the inland regions forcing rents up slightly.

Brought to you by Tony Nash – RE/MAX Property Associates Sunshine Coast
Phone Tony and his team today on (07) 5452 4545
www.rentaladvice.com.au