Do You Have Raving Fans?

When was the last time you referred a business to a friend or a family member? What was it that made this business stand out from the rest? Why are you talking about them? 

Most probably it is due to a fantastic level of service, a great product or perhaps unexpected value that made you want to share this experience with your family and friends.

Now, I want you to ask yourself? When was the last referral your business received?

A successful referral network has people talking about you and referring business to you when you are not looking. The first step in building this network, is to ensure your business is likeable, referable and energetic. 

Are you providing an amazing service that people love to talk about? Do you have raving fans? If not, that’s ok. You may need to implement and improve some of your systems, procedures, and policies in order to deliver a little more, or the additional 1% of service than your clients expect.

When you have your network of raving fans, it’s time to take advantage! The simplest and easiest way is to ask the question.

o    “If you knew anyone who had an investment property would you refer to them to me?”

o    “This year I am growing my business; do you know anyone else I can help?

o    “On a scale of 1 – 10, how likely would you be to refer a friend or family member to our business?”

Whether it’s over the phone, in person or via an online survey – if you don’t ask the questions, you’ll never know the answer!

It is also important to know why people are referring so we can leverage off this in future – but even more importantly this can be a great way to identify any areas that may need improvement. There is always room for improvement in every Property Management business.

And finally, whenever you do receive a referral, don’t forget to say thank you!

Lauren Kirk

General Manager at Real+

0422 069 905 / lauren@realplus.com.au

The Pursuit of Knowledge

I won’t be the first person you have heard bang on about how your staff are your most valuable asset and I certainly won’t be the last.

I also know that as real estate agents, you will definitely understand when I say that investing in your most valuable asset is just something that has to be done to keep the asset growing and therefore, producing. 

So what exactly does that mean? In this context, I am referring to training and development.

In the wise words of Brandon Travis Ciaccio “The pursuit of knowledge is never-ending. The day you stop seeking knowledge is the day you stop growing”

Both professional and personal development is something that needs to be a priority, for yourself and for your team.  In fact, let’s take away “professional” and “personal” because really, it’s one and the same isn’t it?  More than ever before, our personal and professional lives have collided and it is now just our world; there is no definition.

The point I am making is that whether we are doing something for the benefit of ourselves, or professionally – really it’s one and the same.  And it’s going to benefit us as a whole at the end of the day.

Maybe when you think of training your team, I bet you’re thinking of having to spend an entire day away from the office, locked inside a room, listening to someone ramble on and speak at you, not telling you anything you didn’t already know.  No wonder it’s so unappealing to some!

It doesn’t need to be like that.  In fact, it’s actually not like that anymore. Training and development is now so attainable, accessible and worthwhile.

We have so many resources at our fingertips, think; webinars, online training, mentoring and coaching, networking -even something as small as signing up to one of the many industry-related social media groups, where you can share ideas, brainstorm and just connect with people in the same industry. These are all really accessible and worthwhile resources that are very time effective with maximum return.

In addition to the above things that you can be doing on a daily/weekly/monthly basis just as part of your development routine, you have amazing events such as AREC and ARPM.  Not only do these sorts of events provide a platform where you can be inspired and empowered by some of the thought leaders of our industry, you are given the opportunity to connect with people in your industry.  

These events are all about learning.  And you can learn something from just about anyone. 

The benefit to you and your business will be phenomenal.  When you have a team that is constantly growing their knowledge and developing themselves, you will have a team who are genuinely all about quality and improvement.

You need to lead from the top.  Be the change you wish to see.  When you are constantly growing and developing your knowledge, you will be a better leader and you will inspire others to be better.

Encourage people to attend training events, people often make the mistake of seeing this as an expense.  Rather,  look at the return that comes with investing in your most valuable asset.

I’ll finish with a quote by Christopher Morley - “There are three ingredients to the good life; Learning, earning and yearning”. 

Leaning will lead to earning which in turn, will create a yearning to learn more, so you can earn more! (makes sense to me!).

Happy learning!

Alison McGavin

Recruitment Team Leader Real+

alison@realplus.com.au / 0434 014 012

How compliant are your ingoing inspections?

Ingoing inspections are not always the most favoured task from any property management professional, however they are a task that will help to cover you, the property, Owner and the Tenant before and after the course of a tenancy.  

There are now also a variety of apps and technology out there to assist in helping you power through those ingoing inspections and provide the high level of detail and photos that are required. You may just need to trial some of them to figure out which one works seamlessly with your processes.

The ingoing inspection sets the foundation for the tenancy and the condition of the property. We rely on this inspection at the end of the tenancy, so it is vitally important that we get this right from the beginning.

Take a look at your procedure for your ingoing inspections and ensure that you have all bases covered and even a checklist in place to assist in making the process easier.

Some essential steps in this inspection would be:

·      Identify that the property is vacant – you cannot carry out an ingoing inspection for a new tenancy of the property unless the property has been vacated and you have a clear view of all aspects of the property. Also ensure that all cleaning and repairs are complete.

·      Ensure you have all copies required of keys, security swipes and remotes for each of the tenants and a copy for the office.

·      In any properties that may have pools, ensure they are completely compliant with state legislation, registered and correct fencing, signage and security.

·      In furnished properties, take an inventory of the furniture, the condition of each item and the room it is located in including colour, brand and number of items.

·      Check that smoke alarms and light globes are all working and that the property complies with window lock and blind cord safety.

·      Make sure all boxes on the report are complete, where required and that there are descriptions and details are recorded including, size of flaws including any marks, scratches, burn marks, dents and also fixtures such as hooks, screws and nails. Check that all appliances are in good working order and record colours, make, model and serial numbers.

·      Take as many photos as required to cover everything.

·      Explain the condition report in full at the time of issue and on a separate form have the tenant sign off, acknowledging receipt of the report with any other documents they receive. One area of non-compliance that we often find is that teams will have the tenant sign the office copy of the condition report, site unseen and then give them a copy to complete.

·      Follow up with the tenant within 7 days after issue for their returned, signed report and make comparisons to the original report completed by you. If there are any discrepancies in the reports, follow it up with the tenant and handle any identified repairs and maintenance. These should be also followed up with the Owner.

A well prepared ingoing report will protect both the Owner and the Tenant against avoidable issues at the end of the tenancy and may just save you the additional stress.

Heidi Walkinshaw

Senior Coach / Consultant Real+

0411 747 520 / heidi@realplus.com.au

How compliant are your ingoing inspections?

Ingoing inspections are not always the most favoured task from any property management professional, however they are a task that will help to cover you, the property, Owner and the Tenant before and after the course of a tenancy.  

There are now also a variety of apps and technology out there to assist in helping you power through those ingoing inspections and provide the high level of detail and photos that are required. You may just need to trial some of them to figure out which one works seamlessly with your processes.

The ingoing inspection sets the foundation for the tenancy and the condition of the property. We rely on this inspection at the end of the tenancy, so it is vitally important that we get this right from the beginning.

Take a look at your procedure for your ingoing inspections and ensure that you have all bases covered and even a checklist in place to assist in making the process easier.

Some essential steps in this inspection would be:

·      Identify that the property is vacant – you cannot carry out an ingoing inspection for a new tenancy of the property unless the property has been vacated and you have a clear view of all aspects of the property. Also ensure that all cleaning and repairs are complete.

·      Ensure you have all copies required of keys, security swipes and remotes for each of the tenants and a copy for the office.

·      In any properties that may have pools, ensure they are completely compliant with state legislation, registered and correct fencing, signage and security.

·      In furnished properties, take an inventory of the furniture, the condition of each item and the room it is located in including colour, brand and number of items.

·      Check that smoke alarms and light globes are all working and that the property complies with window lock and blind cord safety.

·      Make sure all boxes on the report are complete, where required and that there are descriptions and details are recorded including, size of flaws including any marks, scratches, burn marks, dents and also fixtures such as hooks, screws and nails. Check that all appliances are in good working order and record colours, make, model and serial numbers.

·      Take as many photos as required to cover everything.

·      Explain the condition report in full at the time of issue and on a separate form have the tenant sign off, acknowledging receipt of the report with any other documents they receive. One area of non-compliance that we often find is that teams will have the tenant sign the office copy of the condition report, site unseen and then give them a copy to complete.

·      Follow up with the tenant within 7 days after issue for their returned, signed report and make comparisons to the original report completed by you. If there are any discrepancies in the reports, follow it up with the tenant and handle any identified repairs and maintenance. These should be also followed up with the Owner.

A well prepared ingoing report will protect both the Owner and the Tenant against avoidable issues at the end of the tenancy and may just save you the additional stress.

Heidi Walkinshaw

Senior Coach / Consultant at Real+

0411 747 520 / heidi@realplus.com.au

Value the Vacate

Tenants vacating a property can bring out all manner of emotions, not just for the tenant, but also for the Owner and can very quickly turn those once lovely clients into a bit of a challenge.

Leading up to the vacate, there are a few things that you can do to ensure that you are communicating with all parties the expectations of the vacate so that we can minimise the conflict and hopefully avoid that long, well drawn out sentence of “it was cleaner than when I moved in”.

·         At the commencement of the tenancy, educate the ingoing tenant on the ground rules. Let the Tenants know how you expect the property to be looked after, stressing the conditions of the lease regarding care of the property. You may like to provide them with a checklist or even an induction video.

• Pre-vacate inspections are a perfect opportunity to sort out any potential problems that might be present at the property and give the tenant the chance to fix these before the vacate inspection.
• Invite the tenant to the vacate inspection at a time that is suitable for you. If they cannot make it at that time, then carry on the inspection without them. Make sure that you call or email the tenant after the inspection to inform them of the result.
• Communicate with the tenant throughout the process and explain the bond refund procedure. In most cases a reasonable person will understand the situation once it has been explained to them. However, there are those other cases in which you are left with a neglected property and difficult tenant, which may mean a bond claim and possible tribunal action if it all goes pear shaped.

Throughout the process, don’t forget about communication with the Owner. They may like to come along once the tenant has vacated to take a look at the property and it might be a good opportunity to discuss potential improvements. 

Also let them know before you finalise the bond to ensure that they are happy to release it and that no nasty surprises are going to crop up that your agency might have to wear the cost of.

One of the key points in the vacate process is communication, don’t be tempted to hide away from the conflict. Be confident, keep the lines of communication open and tackle it head on.

Heidi Walkinshaw

Senior Coach & Consultant

Real+

heidi@realplus.com.au / 0411 747 520

Roundup Your Routines

Routines, periodics, whatever name you would like to give them, when it comes to these tasks, we often find that this is one of those tasks that tends to take a segway into Neverland and sometimes forgotten.

Your inspections don’t need to be a nightmare task and it’s a great opportunity to check how the property is being maintained and advise the Owner of any maintenance that may be needed now or in the future to maximise the potential of their investment.

With winter on its way it’s tempting to hibernate in the warmth of our office environments and try and avoid the outside world, however it is important not to forget the crucial task of routine inspections in this period.

• ·   When it comes to routine inspection frequency, it is important to check the legislative requirements for your state. For example, in NSW you are not allowed more than four inspections in a twelve month period, which can make it interesting should you be carrying out quarterly inspections and need to go back for any reason. You may find that you hit your quota faster than you think.
• ·   Create an inspection schedule for your properties, allocate by due month, or by geographical zones and plan to send out a month ahead. Your property management software can assist in automating this process.
• ·   Don’t get locked into individual times and allow yourself flexibility by allocating a time range.
• ·   Give yourself plenty of time. Most visits will take around fifteen to thirty minutes. This will allow time for you to explore issues that are concerning the tenant and inspect the property.
• ·   Ensure that you provide the correct notice in writing to the Tenant to advise of the inspection and include information such as the use of a master key and that you may take digital images of the property at the inspection. Including an information guide of the expectations of condition and a maintenance form can also be helpful.

The most important point when it comes to your inspections is to stay safe. This industry unfortunately deals with some volatile personalities and it pays to trust your instincts. Don’t ever put yourself in a situation where you may be in harm’s way and if you feel threatened, take someone from your office with you. Your safety and sanity is paramount in this game.

Heidi Walkinshaw

Senior Coach & Consultant

Real+

heidi@realplus.com.au / 0411 747 520

Does Your Office Have an Induction Plan?

It should. I’ll tell you why.

Remember back to when it was your first day at a new company.  Some of you would have experienced a seamless induction, one where you were welcomed on-board, introduced to everyone and then settled at your desk, where your log in was set up and your new email address ready to go.  

You were shown where the bathrooms were, where the kitchen was, and where the tea and coffee were kept.  You had one-on-one training with a member of your new team from the get-go.  You were given a copy of the procedure manuals and walked through each system and process.  You left the office that day feeling really pumped and excited with a firm footing on what was expected of you.

You guys were the lucky ones.

If you were the poor person whose experience resembled anything but that, then I’m afraid you walked into an office with no Induction Plan.

You showed up on time at your new job, but the receptionist didn’t know to expect you, your manager wasn’t in yet so you just kind of sat around awkwardly waiting, feeling really out of place and in the way.  Your manager arrived and took you around the office, I’m sure you were still introduced to the team (I hope so anyway!) and shown to your desk.  

I bet though that you didn’t have a log in as yet.  Maybe you didn’t even have a computer (this sounds like a stretch I know, but trust me, it happens!), and an email address? 

Slow down cowboy!! 

You were given the procedures manual to read (if you were lucky), but for the most part you were kind of just thrown into it all, handed a piece a work to complete, had to chase someone down who could show you how to do it, and then were feeling really annoying for having to ask so many questions!  

You left the office after your first day, feeling a tad anxious for what the next day would bring.

Reflecting on the above, how do you want your newest member of the team to feel at the beginning, throughout, and at the end of the day? 

Putting the newbie aside, you want it to be as easy as possible for you to induct a new team member too right?

When putting together an Induction plan, absolutely everything must be covered.  Everything from having that persons computer and phone present, set up and ready to go, to a comprehensive job description ready for them.  

From there, have a training plan covering off everything in the job description; when it is going to be taught and who is going to teach it. You can make this plan as elaborate as you like and the more detail, the better. 

It is a lengthy and involved process creating and implementing these plans, however once they are in place and being used, bringing on a new team member will be a hassle free, organised and seamless process.  

Of course, Real+ can do all of this for you, so if you would prefer for us to spend the time devising job descriptions and creating induction plans, then please give us a call.

Alison McGavin

Recruitment Team Leader at Real+

0434 014 012 / alison@realplus.com.au

Coping with Wild Weather

As the sirens steam by with the wild weather battering much of the east coast, many property managers may be already fielding distraught emergency phone calls. And if not, they are mentally preparing for the possible onslaught of calls, messages and emails with damage, emergencies and concerns.

This can be a difficult time for even the most experienced of us, not to mention those who are dealing with a natural disaster for the first time. If your office has an emergency/disaster procedure, it’s time to implement.

Otherwise, here are some some tips to help you deal with the next few days:

·         Get yourself organised

o   Consider how to best utilise your trust accounts software, CRMs, social media and e-marketing platforms to communicate with your clients of emergency details and updates.

o   Update your voicemail to provide information and instructions on lodging repair requests.

o   Utilise your email out of office/auto reply to give your client instructions and expectations on response times and updates.

o   Consider postponing any non urgent tasks such as scheduled routines, meetings and repairs that are not necessary at this time. People are usually fine with delays as long as you communicated with them.

·         Check your legislation

o   Different states have different legislation on responsibilities during disasters, what is deemed uninhabitable (when a lease is effectively terminated) and where landlord obligations lie in regards to re-housing, rental compensation etc. Evacuate properties only where necessary. For information on NSW legislation, click here.

·         Get ahead with tenants

o   Where possible, send a bulk SMS or email out to all of your tenants providing sympathy for anyone experiencing issues, as well as instructions on who to call for emergencies.

o   Consider emailing them with instructions of how to best lodge any repair requests with your office, asking them to include photos/videos for example.

o   Also consider providing details of any emergency evacuation centres that have been set up in the local area.

o   Ensure you advise that as you will have an influx of repairs to deal with, response times may be delayed.

o   Consider advice around switching off electricity and gas in extreme cases.

·         Prepare Owners

o   Send a bulk communication out to your landlords as well, letting them know that you’ve provided emergency details to tenants and you will be working through the maintenance issues in order of urgency.

o   Remind them of their emergency repair clause within their agency agreement and that whilst every attempt will be made to keep them up to date, with the increased workload there may be slight delays in communication while you prioritise the repairs.

o   Perhaps consider pre-framing the possibility of rent reductions and uninhabitable premises.

o   Ask them to provide up to date insurer details if you do not hold them on file.

·         Mindset

o   Remember that for many their homes and belongings have been damaged of destroyed, everyone handles these situations differently and you may come across upset and seemingly unreasonable people.

o   Try approach all calls and situations from an angle of empathy even if you are feeling stressed and the other person is irate. You may take on the role of a pseudo counselor at times. Remember the importance of listening and do not take anything personally.

·         Contractors

o   Where possible speak to your contractors in advance to determine their work load, expected response time frames, and their best suggestions in minimizing damage to the property in the meantime. This will assist with providing accurate communication to your tenants and landlords.

o   Consider contacting additional contractors to help with the additional workload during this time. However, ensure you get a copy of their insurance details first.

·         Triage all incoming issues.

o   Whilst continuing to log all repairs into the system as normal, consider setting up a “triage” board or spreadsheet in your office and categorizing each issue that comes in, similar to what they have to do in an emergency room in a hospital. This will help you immensely when you’re feeling overwhelmed and not knowing what to do first.

o   Each few hours, re-group as a team and reprioritize what you are working on.

·         Give support staff dialogue

o   Provide your reception and support team with the best dialogue when speaking with your clients, to minimize the stress of incoming calls and ensure they know the detail of information to collect.

·         Documentation

o   Be as meticulous as possible in keeping records and documentation. Especially where it comes to compensation or time away from the premises. Keeping thorough notes and documentation on the situations, will make your life easier when processing insurance claims, rental compensation and resolving issues down the track. 

·         Compensation

o   Where tenants are requesting compensation, remember that a landlord is not required to compensate a tenant for damage to the tenants belongings, this would need to be covered by their own contents insurance - the tenant should be advised this at the start of the tenancy.

o   Remember it is okay to defer this conversation, when requested you can let the tenants know that whilst you can’t promise anything you will work on coming to an agreement in regards to this, but your main focus is getting the issue resolved right now.

o   If the tenancy is ended permanently, no rent is payable from the day the tenant moves out. Any rent already paid in advance must be fully refunded to the tenant.

o   If the tenant moves out temporarily or continues living in the partially damaged premises, the rent should be waived or reduced. Whether any rent is payable at all and, if so, the level of reduction will depend on the extent of the damage and the amount of use the tenant has of the premises. 

·         Fees

o   Check if your managing agency agreement includes a disaster management fee. After all, if a natural disaster occurs your management resources will be pushed to the limit and you may need to pay existing staff over time.  It may seem harsh to ask for this during during a time of hardship, however ensuring your agency is remunerated adequately for managing properties through a natural disaster is important.

Most importantly, remember to stay patient. If you feel overwhelmed, take a moment to breath and re-organize yourself, and if you need any help or support, don’t hesitate to get in contact via email.

Please feel free to use the Emergency Management Checklist that we have created for you to use in these situations and contact us by phone or e-mail if you need any assistance during these times, we are here to help!

Real+ Team
02 8355 4999 / team@realplusonline.com.au

Are you confident at Tribunal?

Attendance at Tribunal can be stressful to even the hardest property manager. It is important to ensure that you are well prepared, with as much information as possible so that you know what you are heading into whilst attempting to achieve the best possible outcome for your client.

How prepared are you when it comes to Tribunal and are you ready to tackle any challenge? Let’s look at a few key steps that you can implement to ensure that you are ready to aim for the best possible outcome.

•          When it comes to applying, always have landlord’s approval and determine  what their ideal outcome may be and pre agree under what conditions you may withdraw application

•          Check that the Court has the jurisdiction for orders you are making and ensure you apply against correct individual/s or business. Carefully specify which orders you request and give factual reasons

•          Always keep a copy of your application and prepare your documentation straight away

•          When issuing termination notices, ensure that the notice is in writing and states the full address of the rented premises and the full names of all parties

•          Ensure that the grounds & details of breaches are explained  and it is signed and dated by the Landlord or agent

•          Refer to management agency agreement and the residential tenancy agreement for required information, check service dates and check the rent arrears

•          When it comes to preparing for the hearing, prepare a chronology of events and write down all issues relating to the case

•          Gather your evidence with updated copies of ledgers and the tenant’s status as well as any information. It is also helpful to know what you want to say to support your case

•          Have a checklist handy to help you organise your documents. The team at Real + have a great one on hand. Click here to find out more.

•          Practice your case, remembering that practice makes perfect! If you need help don’t forget to refer to the fact sheets and online videos

•          Prepare your hearing notes for the member before the hearing and take a calculator, phone, pen, pad

•          Ensure your Landlord is on standby

Above all remain calm, be thorough with your information and if you are ever at all unsure about the person you are up against, take someone with you for backup and good luck!

Heidi Walkinshaw 

Real+

0411 747 520 / heidi@realplus.com.au

Privacy and the Internet Do Not Mix

Remember when back in 2007 Facebook jumped onto the scene and we all enthusiastically set up our new profiles and started connecting with friends, excited that there was now a fun platform on which to connect and share with our select friends in a private closed group?

Then remember how we quickly realised that actually, it wasn’t that private because we were getting friend requests from the snotty nosed kid in our kindergarten class that we never liked?

But then Facebook came up with a solution – they gave us the option to make our profile private!

Hooray! Thank goodness that we can still all post photos of the *wild (*not so wild in hindsight) parties we attended without our parents seeing! (Yes, I am part of the Y-Gen).

Fast forward nearly a decade, and as grownups we now realise that actually the privacy settings aren’t so private and, shock horror, the internet is not the safe and secure playground we thought it to be.

Or rather, most of us have realised.

Too often I see really talented and suitable candidates miss out on opportunities all because of what they have decided to share on social media.

You can be 100% sure that when you apply for a role, or are put forward to a business, the FIRST thing that will happen is a google search.  They are going to scroll through all of your photos, have a look at the kind of comments your friends have made on your photos and from this, can quite accurately put together an idea of what your life looks like, and potentially, what kind of person you are.

Fortunately, or unfortunately, whichever way you choose to look at it, we live in a world where our private lives and our professional lives have now overlapped so much, that the distinction between the two is not recognisable.

It will not matter how many awards you have won or how many new managements you brought on last month, if you have inappropriate photos or content on your Facebook/Instagram /Pinterest/twitter/LinkedIn page, you WILL miss out.

Whether you’re a business owner (yes, the social media stalking occurs in the reverse too!), someone looking for a new job, or you already have a job that you’d like to keep, my advice would be to proceed with caution with regards to what you post or comment on, on social media.

My rule?  If I wouldn’t want my Grandfather/Grandmother/Father/Mother/Boss/client seeing my post, I will not post it. 

Alison McGavin

Recruitment Team Leader
0434 014 012

Real+

BMT Tax Depreciation - Help investor clients to claim deductions correctly

Repairs and maintenance are a fact of life for Property Managers. While the costs associated with the upkeep of investment properties can be a source of concern for owners, Property Managers are able to address this by advising them of the deductions they can claim when completing their annual tax return.

Australian Tax Office (ATO) legislation can have a significant impact on the deductions a property owner is able to claim for work completed on their property. In order for a Property Manager to accurately advise their clients it is important to understand what types of works constitute repairs, maintenance and capital improvements.

Repairs and maintenance

Repairs relate to work completed to fix damage or deterioration of a property. Common examples of repairs include: 

• Fixing part of a damaged fence
• Replacing part of the guttering or windows damaged in a storm

Maintenance is defined as any work completed to prevent deterioration to a property. Common examples include: 

• Painting a rental property
• Oiling, brushing or cleaning something that is otherwise in good working condition
• Plumbing maintenance
• Servicing an air conditioner

Any expense incurred for repairs or maintenance of an investment property is deductible within the current financial year.

Capital improvements

Any improvement made to the original condition of an item is classified as capital improvements. The ATO allows capital improvements to be claimed by property investors as either capital works deductions or plant and equipment depreciation.

Capital works deductions include structural additions and renovations as well as fixed items which cannot be easily removed from the property.

Examples of depreciating plant and equipment items which could qualify for deductions when improved upon are carpeting, hot water systems, stoves, lights and light fittings. The deductions which can be claimed will depend on the individual effective life the ATO set for each individual asset.


How to maximise deductions

To ensure investor clients are able to claim the maximum deductions available, encouraging them to contact a Quantity Surveyor specialising in tax depreciation is key.

By working with an investor’s Accountant, a Quantity Surveyor such as BMT Tax Depreciation is able to produce a tax depreciation schedule outlining all capital works deductions and plant and equipment items considered to be capital improvements. This schedule will also outline all available deductions for the lifetime of the property (forty years), claimable when completing an annual tax return.

Owners who are planning any renovations to their investment property should also request a Quantity Surveyor to complete both a pre and post renovation depreciation schedule, as items removed during this process may also entitle the owner to additional deductions when the items are scrapped and written off.

If you have any clients who would like more information on claiming depreciation for any investment property, speak with one of the expert staff at BMT Tax Depreciation on 1300 728 726.


Article provided by BMT Tax Depreciation.
Bradley Beer (B. Con. Mgt, AAIQS, MRICS) is the Chief Executive Officer of BMT Tax Depreciation.  Please contact 1300 728 726 or visit www.bmtqs.com.au for an Australia-wide service.

The importance of the first impression

It is a truth universally acknowledged that it takes around 7 seconds to make a first impression. This first impression can determine how someone else will perceive you and make assumptions of your personality and if they can like, trust and respect you.

Have you thought about how you come across to someone else in those first 7 seconds and the type of first impression that you make?

In an industry where first impressions are the order of the day, it is important that you are aware of the impression that you give to others as it could be the deal maker or deal breaker when it comes to something as important as beginning a relationship with a client and gaining a new listing.

There are two ways in which your message is delivered and these are through either verbal or non-verbal cues. Research has also found that non-verbal cues are four times more likely to influence a first impression than verbal cues.

When we are using verbal cues, it is a great tool to train yourself in the mind to mouth filter, the one where you think about what you are going to say before you actually say it. This filter can save you more often than not in a social situation.

In honing your non-verbal think about a few keys factors:

·         Posture and attitude – standing straight and tall and making eye contact can signal confidence and form a connection, while hunching your shoulders and looking down at the ground constantly can signal lack of self confidence. Also consider your attitude and how that may come across in those first moments. Are you confrontational or do you stand back a little and fall back into yourself?

·         Smile! – never underestimate the power of a smile. Smiling can signal that you are friendly and approachable and also helps to boost endorphins which is why we can often feel great when we really smile or even laugh. So why not pass that on!

·         Shake hands – this is one of the fastest ways that you can gain rapport with someone. Although it’s an idea to practice those handshaking skills! There is nothing worse than having your little hand crushed in a vice like grip of death or being given the “limp fish shake”. Your hand shake will also reflect your personality so it’s worthwhile thinking about what type of shaker you are.

When you are analysing your first impression style, ask your friends or co-workers their impression of you to gain some feedback on where you may be able to improve and, you might even like to use them as guinea pigs when you are trialling and testing how you connect with others and perfect your first impression skills.

Heidi Walkinshaw