The significant increases we have experienced in building costs have highlighted a concerning trend of underinsurance. Many properties are found to be insured for less than their estimated replacement value, leaving property owners at risk in the event of a significant loss.
But why is it so important? Some insurance is better than none, right? Let us explain one aspect that often causes confusion – the “Average Clause”
A Commercial Property Condition Report (PCR) serves as a critical tool for creating a baseline record of the property's initial state.
At Asset Reports, we offer three types of Commercial Condition Reports to suit different types of properties, read the blog to find out more.
Discover the highlights from the Asset Reports | Reports Online Property Managers Breakfast - a remarkable event that brought together industry professionals in an inspiring journey from unveiling the human side of property management to creating mattering at work and beyond.
Our Reports Online End of Year Sundowner event was a wonderful opportunity to connect, unwind and reflect on 2022.
We were joined by 70 Property Managers at our new West Perth office for a morning of Reports Online Product Training, Q&As, Sponsor Prizes and a Delicious Breakfast.
A shortage of both materials and labour as a result of the COVID-19 Pandemic has created a surge in construction costs and delays. Experts are warning things will get worse as many realise they are significantly underinsured.
It is vital your property has the correct level of insurance cover to replace the building on a ‘like for like’ basis – should you need to make a claim for either partial loss or total replacement.
With the RBAs announcement of another interest rate rise, owners of investment properties will likely be feeling the squeeze with pressure on their cash flow.
Further interest rate hikes are expected throughout the year, so any way to supplement the return on an investment is essential right now.
The simplest and most effective way to offset increasing interest costs is to start claiming Depreciation - and owners can claim up to two prior years of depreciation on an investment property for an instant refund back from the ATO.
Lockdown measures over the past year have had a significant impact on our lifestyle.
For retirees who are planning their future accommodation needs, the ability to view a retirement village virtually is proving to be a welcome convenience.
Retirement village operators have been turning to technology to promote their independent living units during times of uncertainty and restrictions to show they are still open for business.
Commercial agents are turning more to technology to provide evidence of how the condition of a property was at the commencement of a lease.
Virtual tours are proving to be a time and cost-saving way commercial premises are leased by helping provide an accurate record of what the premises were like at the handover stage.
The popularity of online property auctions has exploded in recent times, however, there has also been a corresponding surge in the use of quality online property inspections.
The popularity of 3D virtual tours skyrocketed after the COVID-19 pandemic first began last year. Now, online tours have become firmly established as part of the marketing package for leading agencies for maintaining buyer interest, especially from those unable to attend a property viewing.
In May 2020, Western Australia’s strata laws changed for the first time in over 30 years.
Under the revised Strata Titles Act 1985, the 10-year plan and reserve fund have become a requirement for certain strata schemes. It applies to schemes with more than 10 lots or a replacement value of over $5 million.
With EOFY and tax time fast approaching, make sure you have everything you need to maximise deductions on your rental property. Read on to find out are our top tips for investors.
Thank you to Cubecorp for inviting our Principal , Kristian Jeromson, to discuss Tax Depreciation for their investment magazine Sphere. Kristian highlights the importance of Tax Depreciation and how local and international investors can increase cash flow from their investment.
Asset Reports very own Tom Williams and Caitlin Dennis were fortunate attendees of WIRE (Women in Real Estate) 2021 – held at Doltone House, Jones Bay Wharf, Sydney, on March 10 to coincide with International Women's Day.
Wire conference is one of the real estate industry's key events for professional development. This year's event focused on 'reflecting on your life, redefining your journey and relaunching yourself with double the force.'
In May 2020, Western Australia’s strata laws changed for the first time in over 30 years. The reform has led to more clear and fair rules for those who own, occupy, or intend to purchase a strata-titled property.
What does this mean for strata managers and owners?
3D Virtual Tours are fast becoming a staple of marketing a property. Aside from complimenting a new climate of ‘social distancing’, providing a contactless, interactive experience of a property over photos alone is the natural progression in a world where marketing has become so centered on having an impressive online presence.
A study by REA in April 2020 noted that 61% of viewers feel that properties with digital inspections make a listing feel more ‘premium’, and 62% felt more positively about the listing agent.
Asset Reports has been proud to work with home builders to bring their entire suite of display homes to life. Even amid the ease of restrictions, the Virtual Tours continue to be a valuable tool allowing viewers to get a sense of the size, scale and layout of the designs on offer in preparation for taking advantage of the new government incentives for building new properties.
In the lead up to tax time, we wanted to shed some light on what exactly Depreciation is and how it can save investors thousands in tax deductions. We prepared this interactive model to show exactly what can be depreciated in an investment property.
As an investment property ages the value of the materials used to build it decrease in value, this loss in value can be claimed as a deduction at tax time. Blue labelled items come under Capital Works (Division 43), or construction of the property, which are depreciable over 40 years.
A high-resolution, 360-degree virtual tour could be one of the key ways agents look to show potential buyers a property, following the ban on public open homes and auctions from midnight, Wednesday March 25.
Camera services and agents have reported a spike in inquiries for virtual tours of property listings in the past week to fill the void left by government-mandated social distancing measures.
Asset Reports partner Tom Williams said high-quality, 360-degree views of listed properties were an invaluable tool for vendors and buyers alike.
“It’s helping [agents] get the listing and helping them engage the right buyer,” Mr Williams said.
“I’ve seen easily a 50 to 60 per cent increase in more business than the week prior. We’ve doubled our bookings.
The world has changed rapidly in the last few days.
We just wanted to share a few keys things we are doing to help you and your clients stay safe, be more efficient, and generate additional income in these uncertain times.
Asset Reports is complying with all the advice from the Federal Govt and Health Officials regarding the rapidly evolving COVID-19 situation.
We can assure our clients that we have proactively enforced the 14 day voluntary quarantine period for anyone who has travelled overseas well before the official advice came into effect.
