Gong Xi Fa Chai and welcome to the February 2016 edition of

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The RentCover Report | February 2016 Hav ing trouble viewing this email? View it online
Dear Reader,
Gong Xi Fa Chai and welcome to the February 2016
edition of RentCover Report
This month we celebrate Chinese New Year and welcome in the Year of the
Monkey. The years of the monkey are believed to be some of the
unluckiest in the calendar – a foreboding that’s already playing out with the
Chinese economy. But here in Australia Chinese investors seem more
optimistic.
According to property marketer Juwai.com, 2016 will be another bumper
year for Chinese property investors as the value of all Chinese real estate
investment in Australia is tipped to hit $220 billion by 2020.
But it’s not just international investors looking to enter the property market this year. According to several
surveys, buying an investment property is top of many people’s financial resolutions for 2016, so we’ve
put together a few pointers to consider. For those wondering when is the best time to buy or sell, new research may offer some answers. We
also look at fraud relating to title transfers and, on a lighter note, take a sneak peek at the colours for
2016. Why not road test them at your home or investment property?
Whatever your interest or agenda, we hope you enjoy this edition of RentCover Report.
- Sharon Fox-Slater, Executive General Manager, RentCover
BEST MONTHS TO BUY AND SELL Recent research from a team of economic and finance boffins from Griffith,
Monash and Swinburne universities has revealed the best months to buy or
sell property. http://www.vision6.com.au/em/mail/view.php?id=1011792&a=57497&k=a3fbaa4
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AVOID FRAUD IN TITLE TRANSFERS Whether you're buying a property to live in or rent out, the transfer of the
land title is a critical step - and one that's open to corruption by fraudsters.
REVAMP YOUR INVESTMENT On-trend landlords might like to look to Pantone’s Colour of the Year when it
comes to updating their rentals in 2016.
CUSTOMER SERVICE IS DANIELLE'S FOCUS Former UK Novocastrian Danielle Johnson says she cops some stick from
colleagues over her Geordie roots.
RENTCOVER FLYERS - JUST FOR YOU! Did you know we have a wide range of flyers that you can use to promote
our products to your clients? And the best part? You can order them online.
To view our entire catalogue and place an order, click 'Read More' below. NEWS IN BRIEF
Property values increase on east
Despite a mixed result for city property prices in the last quarter of 2015, the calendar year ended on a
positive note. According to CoreLogic RP Data, east coast capitals gained over the year (all dwellings):
Sydney (+11.47%), Melbourne (+11.19%), Brisbane (including Gold Coast +4.57%) and Canberra
(+4.09%). Central and western capitals fell: Adelaide (-0.13%, though units were up 1.38%), Darwin
(-3.63%) and Perth (-3.73%), while Hobart also declined (-0.72%, although units were up 8.63%). http://www.vision6.com.au/em/mail/view.php?id=1011792&a=57497&k=a3fbaa4
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Offshore buyers snap up commercial properties
Date compiled by CBRE found offshore buyers accounted for 41 per cent of all commercial property
transactions in 2015. Overseas investors purchased $28.4 billion of office, industrial and retail property
during the year and analysts expect this trend to continue in 2016.
Great Aussie dream alive and well
According to a poll from Yellow Brick Road, 40 per cent of Australians had saving for a first home or
investment property as their top new year financial resolution. Other financial resolutions were to decrease
debts (25%), budget (15%), save for travel (10%) and get superannuation sorted (7%). Only 2 per cent
said they would enjoy their disposable income.
SA landlord tenants evicted from public housing
An audit of South Australia’s Housing Trust found 33 tenants were rorting the system by owning property
but living in public housing. The tenants held investment properties with a combined value of $9 million
and were earning rental incomes as landlords while enjoying taxpayer subsidised rent. The offending
tenants have since been evicted.
Borrowers struggling with repayments
RBA data revealed Western Australians are falling behind on their mortgage repayments at a faster rate
than any other state. About 3.1 per cent of home loans in WA are in arrears or default. The second highest
incidence is in Tasmania (just under 3 per cent), followed by Queensland, SA and Victoria. NSW had the
lowest rate at 2.2 per cent.
WA comes into line Western Australia has deregulated the fees charged by settlement agents and land valuers. From 3
February 2016, the maximum fees charged ceased being dictated by the State. WA was the only state to
cap the fees and the removal comes as it is recognised that consumers have greater access to
information on charges and other protections had been put in pace.
1300 783 878 | [email protected] | www.ebm.com.au New South Wales | Victoria | Queensland | Western Australia | South Australia Coverholder at Lloyd’s | Global Broker Network Asia Australasia Alliance | National Insurance Brokers Association
Elkington Bishop Molineaux Insurance Brokers Pty Ltd
AFSLN 246986 | ABN 31 009 179 640 | Est 1975
This email was sent by EBM, [email protected] | 1800 661 662 to [email protected]
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The RentCover Report - Avoid fraud in title transfers
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Avoid fraud in title transfers
Whether you’re buying a property to live in or
rent out, the transfer of the land title is a
critical step – and one that’s open to
corruption by fraudsters.
The land title is the official record of who owns
the land and often includes information about
mortgages, covenants, caveats and
easements. Each state and territory has a
central register of all land in the state and
details the owner of the land.
Whenever land changes hands, the certificate
of title is updated.
Unfortunately, while titles are being updated,
criminal and unscrupulous dealers can
intervene with devastating effect.
The most common crime involves identity theft, where the fraudster assumes the identity of the land owner
and offers the land as security for a loan or sells it to a third party.
Verifying the identity of the person claiming to be the owner of a property, who has the authority to sell that
property, is critical during the land transaction process.
When buying, selling or transferring property, there are requirements that help protect parties from land title
fraud. For example, State laws require all involved in a conveyancing transaction to have their identity verified
before settlement can occur.
To further reduce the risk of land title fraud, some state authorities have introduced verification of identity
(VOI) policies. VOI is a higher standard of identity verification that requires conveyancers and other property
professionals (like mortgagors) to take “reasonable steps” to verify their client’s identity and confirm their
clients’ authority to deal with a particular property.
Mandatory VOI policies are currently in place in Victoria, South Australia and Western Australia, and will be
introduced in New South Wales later this year. VOI requirements include face-to-face identity checks (together with in-person interview), which include the
verification of original and up-to-date proof of identity.
Buyers, sellers and agents can also check out the fraud prevention services offered in their state or territory
by visiting the respective land titles office website
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TWEET Read more from The RentCover Report February: AVOID FRAUD IN TITLE TRANSFERS
BEST MONTHS TO BUY AND SELL
REVAMP YOUR INVESTMENT
WEY AYE! CUSTOMER SERVICE IS DANIELLE’S FOCUS
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Best months to buy and sell
Recent research from a team of economic and
finance boffins from Griffith, Monash and
Swinburne universities has revealed the best
months to buy or sell property.
After analysing 20 years’ worth of figures, the
trio found seasonal variations in capital city
sales prices can be staggering – up to 13 per
cent between the highest and lowest price
months.
Co-authored by Abbas Valadkhani (economics
professor at Swinburne), Russell Smyth
(economics professor at Monash) and Andrew Worthington (finance professor at Griffith), the research has
been published by Monash Business School.
The researchers contend the patterns are strong enough to predict buying and selling seasonal patterns.
They report:
Best times to buy
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Adelaide – July (houses); June (units)
Brisbane – May (houses and units)
Canberra – October (houses); November (units)
Darwin – June (houses); September (units) Hobart – September (houses); October (units)
Melbourne – May (houses and units)
Perth – February (houses and units)
Sydney – June (houses); December (units)
TenantCover
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Best times to sell
Adelaide – April (houses); September (units)
Brisbane – January (houses); November (units)
Canberra – March (houses); February (units)
Darwin – March (houses); August (units) Hobart – January (houses); February (units)
Melbourne – July (houses and units)
Perth – December (houses); March (units)
Sydney – July (houses); June (units)
Seasonal variations are not an Australian phenomenon – studies in the UK show variations of more than six
per cent between highest and lowest months and seven per cent in the US.
TWEET Read more from The RentCover Report February: AVOID FRAUD IN TITLE TRANSFERS
BEST MONTHS TO BUY AND SELL
REVAMP YOUR INVESTMENT
WEY AYE! CUSTOMER SERVICE IS DANIELLE’S FOCUS
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The RentCover Report - Wey aye! Customer service is Danielle’s focus
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Wey aye! Customer service is Danielle’s focus
Former UK Novocastrian Danielle Johnson says she cops some stick from
colleagues over her Geordie roots.
“It’s not so much that I’m a Geordie that brings all the ribbing from the team,”
Danielle laughs. “It’s more because I made the mistake of letting them know I
went to school with one of the cast from the TV program, Geordie Shore.”
The bubbly 26-year-old hails from Newcastle in the UK but has settled in Perth
after meeting and marrying the man of her dreams while on a working holiday in
Australia.
Six months after the wedding Danielle landed the job as a Client Services Consultant at RentCover.
“I have a background in customer relations, which is what this job is all about,” Danielle said.
Work days usually start early for Danielle, so she can sort through the overnight emails and plan her day
before the customer phone calls start.
An average day has her preparing customer documentation, processing, writing or amending policies, referring
and following up client claims with EBM’s in house claims department and responding to customer phone calls
and emails.
While the client services main office is in Melbourne, Danielle works in Perth with two other RentCover
consultants.
She says it’s always busy – at work and at home – but she hopes to find more time for her favourite personal
pastime.
A keen equestrienne, she’s looking forward to a time she may be able to return to competition in Australia.
“We’re horse breeders back home,” she said. “Dressage, eventing, cross country and in hand, I used to
compete in some of the biggest horse shows in England.” Danielle is also a sports fanatic, supporting Newcastle in the English Premiership league and the Dockers in
the AFL.
PS: Happy birthday Danielle! (she’s celebrating on 11 February #WeyAye) Get your FREE copy of “ 12 most common pitfalls
when insuring your rental property” by
subscribing to our FREE monthly E-Newsletter
below.
Subscribe
StudentCover
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year. MORE INFO
EBM
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corporations. MORE INFO
TenantCover
Low cost contents insurance from as little
as $150 per year. Simple online quote and
application. MORE INFO
TWEET Read more from The RentCover Report February: AVOID FRAUD IN TITLE TRANSFERS
BEST MONTHS TO BUY AND SELL
REVAMP YOUR INVESTMENT
WEY AYE! CUSTOMER SERVICE IS DANIELLE’S FOCUS
© 2016 RentCover
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On-trend landlords might like to look to
Pantone’s Colour of the Year when it comes to
updating their rentals in 2016. For the first time, Pantone anointed two
colours for 2016 – Rose Quartz (warm-toned
pale pink) and Serenity (cool-toned mix of
cornflower blue and periwinkle) – making a
departure from vibrant colours of the past.
The global colour authority chose the hues
based on a move by consumers towards
“seeking mindfulness as an antidote to
modern day stresses” and the pairing provides a “soothing sense of order and peace”. Historically, Pantone’s colour of the year has been incorporated into fashion and home décor, with the colour
being seen across a spectrum of designer offerings through to mass market products. Pantone’s Leatrice Eiseman said this year’s offering of the two colours “makes for a perfect combination in the
home”.
Style conscious landlords can incorporate the colours into painted or hard surfaces or soft furnishings to
attract the most fashion-savvy – and, hopefully, most reliable – of tenants. Contact Us
Pay Now
Get your FREE copy of “ 12 most common pitfalls
when insuring your rental property” by
subscribing to our FREE monthly E-Newsletter
below.
Subscribe
StudentCover
Peace-of-mind protection for parents student accident insurance for just $29 per
year. MORE INFO
EBM
Offering a complete range of services from
individuals and small businesses to major
corporations. MORE INFO
TenantCover
Read more from The RentCover Report February: AVOID FRAUD IN TITLE TRANSFERS
Revamp your investment
TWEET FAQs
Low cost contents insurance from as little
as $150 per year. Simple online quote and
application. MORE INFO
BEST MONTHS TO BUY AND SELL
REVAMP YOUR INVESTMENT
WEY AYE! CUSTOMER SERVICE IS DANIELLE’S FOCUS
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