| The financial investment community has been boiling | | | | management work, keeping the placing in working |
| over the last few years for Investment Property | | | | order from people moving in and out. Now, I have |
| and in countries like Australia and New Zealand some | | | | heard many new Investment Property owners say, |
| property has seen house and unit prices rise by as | | | | hey but cleaning of the balcony is between the |
| much as 80% over a 3 to 4 year period. So as | | | | tenant and body corporate. Well, unfortunately, that |
| people start to enter into the property market there | | | | is not the case in most Western Societies. In fact |
| are a few areas of concern you need to consider. | | | | you the owner are responsible and what I have |
| One important area to consider is the type of tiles | | | | learned from my recent stay with this body |
| you install into your property. Most people when they | | | | corporate is that when you purchase your Unit or |
| purchase a home or unit for investment purposes | | | | Home, you automatically agree to the Body |
| simply choose tiles that they like rather than | | | | Corporate Rules and this is the same in many of the |
| considering the practicability of the tile. The type of | | | | body corporates that we have seen over the last |
| tile can have a huge impact on whether you keep | | | | few years. The owners of the property can in fact |
| your tenants or not. Let me explain from my real life | | | | be billed for any misdemeanours of the tenants. The |
| experience. Issue 1: Be Careful of the Style of Tile | | | | bottom line is this, as an investment property owner |
| You Choose for an Outside Area In most Gated | | | | you are better off installing tiles that are a smooth |
| Communities and Unit High Rises, the common area | | | | face tile. By using a smooth face tile, the tenant will |
| will be managed by the Body Corporate and most | | | | be able to easily mop the tile to keep it clean without |
| Body Corporates have some pretty strict rules on | | | | using a hose or buckets of water. This will reduce |
| what you can and can not do on your property and | | | | the chance of the tenant upsetting other residents |
| if you have a balcony this can really open some | | | | or the body corporate. Issue 2 - Be Careful of the |
| major problems. At the moment, we live in a rented | | | | Type of Tiles You Use in the Bathroom Bathrooms |
| unit in a multi-story development in Townsville, | | | | are another area in which I have seen many owners |
| Australia. The tiles that the owners have put into the | | | | make huge mistakes. Most bathrooms in Australia and |
| property on the balcony are a cause of great | | | | overseas are now using tiles in their bathrooms, but |
| concern for us because of the difficulty we have in | | | | some rental properties that my wife and I have been |
| keeping them clean. The Body Corporate has strict | | | | in, have used similar tiles to the ones we found on |
| rules that prevent us from washing our decks down | | | | our balcony. This is actually a really dangerous thing |
| using a hose. The challenge for us is that the tiles | | | | to do especially if the Bathroom does not have a |
| used are tiles that have little grooves in it. The | | | | free air flow. Once again in one of the units we were |
| grooves in the tiles actually capture the dirt and mold | | | | in recently, they have installed into the bathrooms |
| really easily. The problem with this style tile is that | | | | tiles with grooves in the face of the tiles. These tiles |
| the only effective way to clean them is to use the | | | | are incredibly difficult to keep clean and what makes |
| hose and this is the problem. The only way we are | | | | the situation even more difficult is the fact that there |
| allowed under the body corporate rules is to use a | | | | is no ventilation within the bathroom except for an |
| mop and because of the type of tile we have, mops | | | | exhaust fan. What happens with these tiles is that |
| are torn up very quickly. The result is that the only | | | | unless they are cleaned every few days mold |
| other way we have been able to overcome this | | | | actually starts build within the grooves. This is |
| problem is to use a scrubbing brush and towels and | | | | especially true in humid clients such in the tropics of |
| get down on our knees and clean them by hand. | | | | Australia or in Asia. It can also be a major issue in |
| Now fortunately for the owner we do not mind | | | | cold climates as well. One of the key things I have |
| doing this but most people would say that is there | | | | learned as both an investor in units and houses and |
| problem. To give you an idea of how serious this | | | | also a renter is that you really want to keep the |
| issue is, this owner has had over nine tenants in a 3 | | | | process of keeping the unit or house clean as easy |
| year period. That means they have had a new | | | | as possible. Remember, tenants do not care about |
| tenant less than every six months. As you can | | | | the property the same in which you do. |
| imagine, the owners have been up for a lot of | | | | |