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Living your Luxe Life on the Sunshine Coast.
We have conversations with people who have found “home” on the Sunshine Coast & explore how they connect home with lifestyle & community.
As Property Buyers Agent we also discuss the macro economic factors impacting economic growth & property growth & where we are in the property cycle.
We overlay local market nuances of different sub markets from Noosa Heads to Maroochydore, to the Hinterland.
I hope you enjoy the series Living Your Luxe Life.
Hi. I'm Christine Mount from Luxe Coastal Property Buys. I'm really pleased to continue our series on property management with Carol and Benson. Today, we'll be talking about what areas or what should be front of mind when selecting an investment property in Queensland. Our previous podcast, we spoke about 4 bedroom, 2 bathroom.
Speaker 1:So we can expand on that. But what other factors in a humid climate should we be looking at?
Speaker 2:Again, a lot of people coming from Victoria, a lot of the selection criteria is wanting a pool for the kids, which is lovely. So for those hot months, they've got the pool to keep cool. And also air conditioning in a huge
Speaker 1:is that an air can air conditioning in most rooms in
Speaker 2:the house? Or are we just looking at
Speaker 1:the main, like, the master and the lounge room?
Speaker 2:A lot of people are acquiring living areas and bedroom.
Speaker 1:Because previously, it wasn't I think if you live in Brisbane, you don't need air conditioning as much as Victoria do. They will look at things like cross ventilation in the home.
Speaker 2:So let's talk that walk through that. Sure. Absolutely. Look, a lot of the properties we manage along the coastline, you can go there on a hot day and you've got beautiful ocean breezes coming through. So for a lot of the year, pending those really hot days, you'd be fine without air conditioning.
Speaker 2:But I think with the humidity levels, we're just finding people from Victoria are wanting that air conditioning option. Something to go. What about
Speaker 1:mold in a tropical climate? How do you address that?
Speaker 2:Absolutely. I've recently, done a little YouTube video for our tenants. I've seen that. Oh, you have? Yes.
Speaker 2:Yes. And I myself, look, we, we keep an eye on the mold situation with our tenants, and I think making sure everyone knows that cross ventilation is really important especially in the humid months. And then a lot of our cupboards and things will hold mold and mildew in those winter months. And in that video I did, I recommended a dampen fridge I personally use at home. And I think every home in Queensland should have something like that just even if it's just for the humid months.
Speaker 2:To they work on odor and mold and mildew and it's just really important.
Speaker 1:You've got your air conditioner on. That helps with moisture jubbing. You can also have it on dehumidifier mode. So if you do that, do you still need the dampener wardrobe?
Speaker 2:Look. I always still suggest that and we suggest having the air conditioning not on a cold setting but on a dry setting so it eliminates that humidity out of the air. But quite often, that is not still not getting through to your cupboard spaces and things. So it's important to look at both. And look, every home is different.
Speaker 2:So a house that's on the coastline might experience more damp or humidity. So it's really about each individual home.
Speaker 1:I think that's a nice segue into local market nuances. We're talking about this before when we came online that you may know when you're looking at assessing rentals, so prices property. They may vary a lot the one suburb, but they also vary a lot in the one street. And this is really getting to know the local market nuances because it can be difference between on what side of the hill you want. Absolutely.
Speaker 1:The ventilation and mould. So you have to consider things like light, the waste sun, and how you're gonna protect yourself from that. But how is the breeze circulating the home?
Speaker 2:Yeah. It can be a matter of being elevated and having that breeze. And then on the other side of the road, you might have a house that's tucked away that doesn't experience natural light or ventilation. So too too different.
Speaker 1:But there's ways you can sort of address those issues as well. But be aware of it when you sort of, you know, buying the property table. You know, what can we do to address ventilation? You might have to go a little bit further than if it had ocean breeze. But what about maintenance natural climate?
Speaker 2:Okay. So obviously, mold is a big thing. So when we're looking at our properties and we inspect our properties 3 monthly, obviously, mold is something we keep an eye out for. And it's not always just because of humidity. It could be water leaks or other problems.
Speaker 2:So those sorts of things in the way of the warmer climate. I think full maintenance is something really important to keep an eye on. During the warmer months, the pools often need more chemicals, more salt. And tenants, not all tenants realize what a pool is needing. So just keeping an eye on that and educating the tenants.
Speaker 2:And we've got a company in place to maintain the pool. Often that maintenance is stepped up through the summer months.
Speaker 1:So would you recommend owners to have their own company look after the pool and then reimburse the cost back to it?
Speaker 2:We always encourage our investors so they have peace of mind and we have peace of mind that the gardens and pool are going to look exactly how they are upon renting. We like to factor in a maintenance cost on top of the rent. But quite often, that's an advantage for the tenants knowing that they don't have to mow the lawns and prune their shrubs and maintain the pool. They can get on with life and spend time with the kids On
Speaker 1:the beach.
Speaker 2:Knowing that it's done for them. Yeah. And the investor has it. Obviously, that cost is incorporated in the rent figure. So it works.
Speaker 2:And then we all know that property is handed over. It's going to be handed over how it was delivered.
Speaker 1:I always rent known or an investor. It's the garden around. Because actually, if you let the garden go, it can actually impact value. Absolutely. Enormously compared to if you just continually maintain it over 5 years.
Speaker 2:Absolutely.
Speaker 1:It looks so much better Yeah. Than sort of like it hasn't been looked after at all. And then the garden grows so quickly.
Speaker 2:It does. And I think a lot of tenants will say to you, we they're a green thumb and they the gardens will look better when they leave then but quite often, that's false. They're not. And we actually have a little game in our family where if we go for a walk, we play spot the investment property because quite often that property has weeds and is overgrown and yeah. Spot the investment property.
Speaker 2:We But
Speaker 1:of course, not your investment Oh,
Speaker 2:not the ones we manage. No.
Speaker 1:The other thing on maintenance is the salt air. So if you're in a coastal environment, you also have to look at outlook after the exterior of the properties a lot more, the door frames and window frames. Absolutely. Yes. So just walk through that.
Speaker 2:Sure. Yeah. So obviously, the corrosion from the salt air is a thing. And things like, you know, light fittings, all those sorts of external things. Not only external, but we find on the furnished homes, things perish quicker, the televisions and appliances and all those sorts of things.
Speaker 2:So it's a matter of the appliances with furnished properties. We have checks every so often to make sure that they're up to scrap. And doing regular, not only routine inspect by the property manager but perhaps relying on a maintenance person to visit the property on an annual basis. Often the property managers can see maintenance issues. But if you have a builder inspect, they can often detect bigger problems.
Speaker 2:Yeah. And before they get out of control.
Speaker 1:I think that's really important. And I think what what we're mentioning here, you inspect these 4 times. Yes. In Victoria, every 6, that might be changeable. But it it typically, that's one thing I noticed when I came to Queensland is the regular.
Speaker 1:And I understand me too. It's just the climate. Things can get away from you pretty quickly Yes. If they're not noticed.
Speaker 2:Absolutely. And for us, those 3 month check ins are not only to check the property and report to our investor, but it's also to check-in with the tenant. Because quite often, if we're looking at the property, we're we're not living there. So there are certain things that the tenant might be experiencing that we can't visually see. So it's really important for those 3 month gap.
Speaker 1:Well, thank you very much for that. I think that's really helpful. So any investors out there looking for their investment property, they've got a checklist. I think they should listen to this vodcast. And then, they're welcome to ask either of us any questions.
Speaker 1:So Carolyn, where do people find you?
Speaker 2:They can find me at www.luxepropertymanagement.
Speaker 1:And that's lu xe.com.au. That's fantastic. And I will share all your details on on the blog as well and link the blog so they can contact you directly for any investment properties. Wonderful. Thank you.
Speaker 1:It's been great today. Thanks. Thanks a lot.