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acceleratemarketing03 · 12 days ago

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Hornsby Rentals: A Comprehensive Guide for First-Time Renters

Hornsby, a thriving suburb located in Sydney’s Upper North Shore, has become a popular choice for renters seeking a blend of convenience, green space, and access to city amenities. With its excellent transport links, top-notch schools, and a range of housing options, it's no surprise that many people consider Hornsby as their next home. For first-time renters, however, finding the perfect rental property can seem like a daunting task.

This comprehensive guide will walk you through the key factors to consider when exploring rentals in Hornsby, providing you with the tools and knowledge to make an informed decision.

1. Understand Your Rental Needs

Before you start browsing through available rentals Hornsby, it's essential to clearly define your rental needs. Consider the following questions:

How much space do you need? Think about the number of bedrooms, bathrooms, and additional living areas required for your lifestyle.

Do you prefer a house, apartment, or townhouse? Each property type offers different benefits, so it's important to determine what fits your preferences.

What amenities are essential? Do you need a pet-friendly property, access to public transport, parking, or proximity to schools or work?

Creating a list of your must-haves will help you narrow down your search and avoid wasting time on properties that don't meet your requirements.

2. Location

Hornsby is well known for its convenient location, offering residents easy access to Sydney's central business district (CBD) and surrounding areas. The suburb is serviced by Hornsby Train Station, which provides direct connections to the city, making it ideal for commuters. It also boasts a range of parks, shopping malls, and recreational facilities, ensuring that you’re never far from the essentials.

When searching for rentals in Hornsby, consider the proximity to key locations like:

Transport hubs: Proximity to public transport (bus and train stations) can significantly ease your daily commute.

Schools and childcare: For those with young families, being close to quality schools and childcare centers is a major factor.

Shops and amenities: Hornsby Westfield and other retail precincts offer a wide range of shopping and dining options.

Recreational spaces: Parks and nature reserves like the Berowra Valley Regional Park provide great outdoor activities.

Choosing the right area within Hornsby can make all the difference in your rental experience, so take the time to explore different neighborhoods.

3. Rental Market Research

It’s essential to conduct thorough research before settling on a rental property in Hornsby. Start by browsing property listings online, checking rental apps, and keeping an eye on any changes in the rental market. Understanding the average rental prices for properties in your desired area can give you a better idea of what to expect and help you set a reasonable budget.

For first-time renters, it’s also helpful to familiarize yourself with the leasing process, including rental agreements, bond payments, and lease terms. This will ensure that you are prepared for the responsibilities of renting and avoid surprises later on.

4. Inspect the Property

Once you’ve shortlisted some potential properties for rent in Hornsby, it’s time to schedule property inspections. Seeing a property in person gives you a true sense of its condition, size, and overall suitability for your needs.

Here are a few things to look out for during property inspections:

Condition of the property: Check the overall cleanliness and condition of the property. Pay attention to the state of appliances, plumbing, electrical fittings, and heating/cooling systems.

Natural light and ventilation: Ensure that the property receives adequate natural light and has good ventilation.

Noise levels: Visit at different times of the day to get an idea of the noise levels. Is it peaceful or noisy during the morning rush hour or at night?

Security: Inspect security features such as locks, alarms, and lighting. It's important to feel safe in your new home.

Make sure to take notes and photos during your inspection for reference, and don’t hesitate to ask the property agent about any concerns or questions you have.

5. Understand the Rental Agreement

Once you’ve found a property that meets your needs, it’s time to review the rental agreement. A rental contract is a legally binding document, so it’s crucial to read the fine print carefully before signing.

Key points to focus on include:

Lease duration: Is the lease for a fixed term or periodic? Ensure the term aligns with your plans and flexibility.

Rent payment schedule: Understand when rent is due and the acceptable payment methods.

Bond and deposit: Typically, landlords will require a bond (usually four weeks’ rent) as security in case of damages. Make sure you understand the conditions surrounding the bond return at the end of the lease.

Maintenance and repairs: Clarify who is responsible for maintaining the property and how repairs should be reported.

Understanding the terms of the lease will help avoid any misunderstandings throughout the duration of your tenancy.

6. Apply for the Rental Property

After inspecting and reviewing the property, if you’re ready to move forward, you can apply for the rental. Most landlords or property managers will ask for a rental application form that requires personal details, employment information, rental history, and references.

As a first-time renter, ensure that your application is complete and accurate to increase your chances of approval. You may also need to provide supporting documents, such as:

Proof of identity: A driver’s license, passport, or similar identification.

Proof of income: Payslips, bank statements, or a letter from your employer.

Rental references: If applicable, provide references from previous landlords or employers to demonstrate your reliability as a tenant.

7. Final Preparations and Moving In

Once your application is approved and you’ve signed the rental agreement, it’s time to prepare for your move. Start by organizing utilities such as electricity, water, and internet services, ensuring that they’re set up before your move-in date. Also, make sure to take an inventory of the property’s condition and submit it to your property manager to avoid any disputes when you move out.

Conclusion

Renting in Hornsby offers numerous benefits, from the easy commute to Sydney’s CBD to the peaceful suburban atmosphere. By taking the time to define your needs, research the market, and inspect potential properties, you can find a rental that suits your lifestyle. With the right preparation and an understanding of the rental process, first-time renters can navigate the Hornsby rentals market with confidence and enjoy their new home in this vibrant suburb.

#Hornsby rentals #Rental properties in Hornsby #Hornsby rental market #Apartments for rent in Hornsby #Hornsby real estate rentals

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johnpye12333 · 8 months ago

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Hornsby Property for Sale: Your Guide to Real Estate Options

Introduction:

Nestled amidst the serene landscapes of Sydney's Upper North Shore, Hornsby beckons with its idyllic charm and diverse real estate offerings. Whether you're a discerning buyer seeking a family home, an investor scouting for lucrative opportunities, or a downsizer looking for a cozy retreat, Hornsby presents an array of real estate options to suit every taste and lifestyle. In this comprehensive guide, we'll delve into the world of Hornsby property for sale, providing insights and tips to help you navigate the market and find the perfect property for your needs.

Property Types and Diversity:

Hornsby boasts a diverse range of property types, each offering unique benefits and amenities to cater to different preferences:

Detached Houses:

Detached houses in Hornsby offer spacious living, with ample room for families and abundant outdoor space.

These properties often feature multiple bedrooms, modern amenities, and lush gardens, providing an ideal setting for relaxation and entertainment.

Buyers can choose from various architectural styles, from classic Federation homes to contemporary designs, to suit their aesthetic preferences.

Apartments:

Apartments provide a convenient and low-maintenance lifestyle, making them popular among professionals and downsizers.

Many apartments in Hornsby are located close to amenities such as shops, cafes, and public transport, offering residents easy access to urban conveniences.

These properties often feature modern interiors, balconies with panoramic views, and onsite facilities like gyms and swimming pools.

Townhouses:

Townhouses offer a blend of space and convenience, ideal for buyers seeking a modern living environment with a sense of community.

These properties typically feature open-plan layouts, contemporary finishes, and private courtyards or balconies.

Townhouses in Hornsby are often situated within well-designed developments, offering residents access to shared amenities and landscaped gardens.

Factors to Consider When Buying:

Budget: Determine your budget and explore properties within your price range, considering additional costs such as stamp duty and legal fees.

Location: Choose a property located in a desirable neighborhood close to amenities like schools, parks, shops, and public transport.

Property Features: Identify your must-have features, such as the number of bedrooms, outdoor space, parking facilities, and architectural style.

Future Growth Potential: Consider the long-term prospects of the property, including potential for capital growth and rental demand.

Navigating the Buying Process:

Research: Use online real estate platforms and consult with local real estate agents to explore available properties and gather market insights.

Attend Inspections: Attend open inspections or schedule private viewings to assess properties firsthand and determine their suitability.

Due Diligence: Conduct thorough inspections, review contracts, and obtain necessary reports (e.g., building inspections, strata reports) to ensure transparency and peace of mind.

Negotiation and Settlement: Work with your real estate agent to negotiate the best price and terms for the property, and proceed with the settlement process once terms are agreed upon.

Conclusion:

Hornsby property for sale offers a wealth of opportunities for buyers seeking their dream home or investment property in this picturesque suburb. From spacious family homes to modern apartments and stylish townhouses, Hornsby's real estate market caters to a diverse range of preferences and lifestyles. By considering factors such as budget, location, property features, and future growth potential, buyers can navigate the market with confidence and find their ideal property in this charming enclave of Sydney's Upper North Shore.

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ettalongaustralia · 2 years ago

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insurgoservices · 3 years ago

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How to Get Your Property Ready for a New Tenant

You might be in the process of leasing your property to a new tenant, or you may have to kick out several tenants. In either case, exit cleaning will be necessary to get the property ready for a new lease. Exit cleaning is also called bond cleaning. Fortunately, there are a number of ways to get your property ready for a new tenant. Here are some tips to make this process go as smoothly as possible. And don't forget to hire a professional exit cleaning company!

If you are looking for a company that can offer exit cleaning in Brisbane, you should hire a local company. There are many reliable exit cleaning Brisbane companies, including Australia Bond Cleaning. Once you've hired a professional, you should expect the experts to clean walls, skirting boards, and every other area in your property. The experts at this company will make sure to get every inch of your property clean, including those hard-to-reach spots.

Professional exit cleaning services in Brisbane provide a comprehensive service that includes everything from cleaning footpaths to removing cobwebs from the ceiling. They also clean the walls, wipe skirting boards, and clean light switches. While it may seem like a lot of work, you can get the perfect cleaning job from professionals by planning and strategizing. Aside from providing a thorough service, professional exit cleaning services are also affordable. A good quality exit cleaning service will make your property shine to prospective buyers.

Professional exit cleaning services in Brisbane can make the process easier for you by performing an excellent job. These companies will do everything necessary to make your property as spotless as possible so you can get your bond back in full. A reputable exit cleaning company can even arrange an end of lease clean for you. The professional will provide you with a thorough cleaning service that will leave your property looking brand-new and ready to rent again. If you have a budget, you can hire someone to do the end of lease cleaning for you.

Whether you're moving out of a rental property or need help cleaning your apartment, exit cleaning can make the process easier and more pleasant. The quality of your property can play a vital role in retaining the bond money you pay your landlord for your property. Getting a professional cleaner to perform the cleaning will help you avoid costly mistakes that can harm your reputation. And as a bonus, it will keep your landlord happy as well. When you need to move out quickly, a professional exit cleaning service in Brisbane is invaluable.

Professional exit cleaning services will clean every part of your property, from doorways to windows. They will dust exteriors, wash windows, clean carpets, and empty gutters. They will return everything to its proper place and will even repair any damages. If necessary, they can install upgrades or replace worn-out items. So, if you're in the market for a professional exit cleaning company, you're well on your way to a fresher, more hygienic property.

To find an exit cleaning company in Hornsby, make sure you do your research. There are a lot of companies advertising in Hornsby that offer exit cleaning, but prices can vary. The quality of services can vary greatly, so do some comparison shopping to get the best deal. Most reputable companies will also let you know if there's a new tenant in the area. This will ensure a stress-free and pleasant end of tenancy.

Bond cleaning is also known as exit cleaning, and is necessary for the end of your tenancy. It is necessary for the real estate agent to refund your bond if you have left your property in bad condition. However, if you have neglected to do this, you might not be eligible for your bond. So, it's important to leave your property in good shape. However, you should not leave your property unclean if you are planning to rent the same property in the future.

The importance of fire exit cleaning services cannot be stressed enough. A clean exit path will save lives in the event of a fire, so it is essential to keep them clean and free of debris. During an emergency, a clean fire exit will be easier to notice and more accessible for occupants. A clean exit sign is also more noticeable, which can ensure that no one will get hurt by a cluttered exit. So, if you are considering a fire escape in your building, make sure to keep your exit paths and signs clean!

#Industrial cleaning services Queensland #exit cleaning #Window cleaning #oven cleaning #graffiti removal services Queensland #Office cleaning services Clayfield

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servtowncleaning · 4 years ago

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Our professional team of End of lease cleaning will scrub your rented property from top to bottom including toilet, bathroom, oven and stove tops. Usually, you will get the rental bond after the cleaning has been completed and the property is returned to them in the same sparkling state in which you first found it.

Looking for affordable and quality end of lease cleaning services in Bondi? ServTown is here to help you

-- Experienced and trained cleaning team -- Reliable and responsible cleaners -- Special rates if book with carpet steam clean -- 72-Hour Bond Back Guarantee -- Our team will return to do a Free Reclean if there is any issue

We have chosen every member of our powerful team carefully and we guarantee you an unforgettable experience. With our in-house agency approved checklist on hand, we will able to make your goal easily and perfectly done. Especially the ones your landlord and real estate agent will most likely to check first. https://servtown.com.au/

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meraenthusiast · 4 years ago

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How To Get Into Real Estate Investing In Your 30s

[Editor’s Note: Today’s article is a guest post from Travis Hornsby who blogs at StudentLoanPlanner.com. Travis started the site in 2016 after helping his wife (doctor) and her friends tackle six-figure student loans.]

Take it away Travis……….

Your 30s might be a decade of settling into serious life decisions, like starting a family, focusing on your career, and saving and investing for retirement.

And many doctors and high-income professionals are turning to real estate investing as a way to grow multiple streams of income.

Real estate investing can boost your retirement figures and give you a source of revolving income. It can also be a roller coaster of emotions, draining you of time and financial reserves, depending on how successful your strategy is.

Here’s how you can begin investing in real estate.

3 Reasons To Consider Real Estate Investing

With real estate investing, you leverage the value of time. This is done by putting your money to work today and allowing it to grow into the future. Real estate investments can strengthen your financial portfolio in a few ways.

#1 Creating a new income stream

There are several avenues for making money in real estate. For example, if your property value increases over time (i.e. appreciation), you can sell for a profit.

The other option is creating a positive cash flow by purchasing and operating a rental property.

This additional income can be used to pay down other debts, like student loans, or be used to reinvest and grow your real estate portfolio.

#2 Growing your net worth

Since real estate properties are considered an asset, it’s an excellent way to grow net worth for anyone willing to do their homework and not get carried away with debt leverage.

#3 Acting as a tax shelter

You can save on your tax bill through various tax deductions, like mortgage interest and depreciation for your investment properties.

There are also legal ways to avoid capital gains tax. Such as moving into a house you’re flipping and claiming it as your primary residence for two years. Always consult a tax professional for guidance and tax planning for real estate ventures.

With well-chosen properties, you can enjoy profitable returns and build wealth over time. But you may also run into drawbacks like failing to keep a consistent influx of tenants and being at the mercy of the housing market when it’s time to sell.

Be Realistic With Your Expectations

Investing in real estate is time-consuming and, at times, labor-intensive (if you choose to go the active route).

You need to ask yourself some basic questions:

How much time and energy can I commit to?

What level of risk am I willing to take?

Am I prepared to be a business owner?

What’s my long-term financial plan?

Picture what you want your life to look like in the future, and then reverse engineer your investment plan.

If you only see yourself owning one or two rental properties, it’s probably not worth the time investment compared to just using mutual funds.

But if you’re excited about owning multiple properties one day, then real estate investing might be a fun and challenging adventure that can pay off over time for you.

5 Ways To Invest In Real Estate

There are many ways to go about investing in real estate. Some require more commitment in terms of time and physical labor, while others require more financial reserves.

Here are some beginner-friendly ways to get started in real estate.

#1 House-hacking can reduce your housing expenses

House-hacking is one of the easiest ways to dip your toes into real estate investing.

With this strategy, you purchase a home for personal use and then rent out a portion of the property. It may just be a room, or it could be an entire addition set on your property. By renting out part of your home, you can offset your housing expenses (e.g. mortgage, utilities, etc.) by collecting rental income from your tenant(s).

House-hacking can help ease you into a future in managing rental properties. You’ll learn how to be a landlord while living on-site and be able to pay off your mortgage faster — giving you a steppingstone to reinvest and expand your portfolio.

#2 Flipping properties

If you’re looking for a creative outlet on top of boosting your finances, house-flipping might be a rewarding investment opportunity for you. But it’s way harder than it looks on TV.

When flipping a property, your goal is to invest in an underpriced home that can be inexpensively renovated in order to turn a profit.

Because house-flipping can be complicated, it may be worth reaching out to other property flippers for mentorship throughout the process. After all, home renovations are never as straightforward as they seem.

You’ll need to do the work yourself or hire contractors to complete the project. The longer you take to flip and sell the property, the less money you’ll make. This is because you’ll still have mortgage payments to make until it’s sold, whether you live in it or not.

#3 Short-term rentals can be lucrative

Areas that have a lot of tourists or seasonal visitors are a great environment for short-term rentals. They can churn out a sizable profit, but they require a hands-on approach.

You’ll need to plan how you’ll manage a high turnover of visitors — everything from marketing your property to scheduling visitors to cleaning the property.

If you don’t live near your rental properties, it may be worth partnering with a property management company to handle tedious tasks like housekeeping and responding to complaints.

#4 Invest in REITs

You can invest in real estate without owning a rental property. With a Real Estate Investment Trust (REIT), you can buy shares of a company that owns and operates various real estate properties.

You can choose to invest in different types of real estate without having to know much about the business.

This includes properties like:

multifamily housing

commercial buildings

medical facilities

Your money is pooled with other investors to support the property investment, so you won’t need a lot of funds to get started. You’ll also share the benefits of the property by gaining access to dividend-based income.

#5 Passive Syndications

A real estate syndication is simply the pooling of funds from a group of investors in order to purchase a property that’s more expensive than any of them could have afforded on their own.

So instead of buying a bunch of small properties individually, the group of people can come together and buy a larger asset together.

Most doctors and other high-income professionals that don’t want to go the active investing route, tend to focus on these types of investments.

The Bottom Line

Real estate investing isn’t for everyone. If you don’t want the burden of maintaining properties and juggling tenants, then you may be better off sticking to mutual funds and other hands-off investment strategies.

But if you’re ready to dive into real estate, then you’ll need to treat it as a business from the beginning. Do your research and decide which form of investing matches your lifestyle and long-term goals.

The post How To Get Into Real Estate Investing In Your 30s appeared first on Debt Free Dr..

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#IFTTT #Debt Free Dr.

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joefnolan80 · 7 years ago

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How 3 Agents Used Real Estate to Pay Off Student Debt

Megan Hornsby and Harrison Beacher

Three millennial real estate professionals say their jobs were key in helping to retire student loan debt and get on track toward a stable financial future.

Tyler Meyer of Shorewest, REALTORS®, in Delavan, Wis.; Harrison Beacher of the Harrison Beacher Group in Washington, D.C.; and Megan Hornsby of RE/MAX Preferred Associates in Maumee, Ohio, spoke during a session at the 2017 REALTORS® Conference & Expo in Chicago on Sunday about how getting into real estate right out of college gave them the financial means and discipline to escape the student debt trap that plagues so many of their peers.

American students collectively carry $1.7 trillion in outstanding student loan debt—which is second only to mortgage debt—and much of that is owed by millennials, according to data from NAR and American Student Assistance. Only 20 percent of millennials are homeowners, a low number due in part to the debt many are carrying, and 83 percent say their loans are delaying their ability to purchase a home.

Hornsby, who worked as a property manager right out of college, said she was able to pay off her $40,000 debt by buying an investment property in the Toledo area. She and her husband, who’s also a practitioner, bought subsequent houses. Through careful management of their rental and commission income, they were able to retire their debt relatively quickly and amass a sizable portfolio of rental properties.

Beacher, who earned his real estate license after college, paid off his $40,000 in debt over several years by focusing on the first-time home buyer marker. To get started, he leveraged some 3,500 contacts he had on Facebook, many of them his age, and held home buyer seminars. However, what was key for Beacher was taking a disciplined approach to saving. He sought help from a financial planner and accountant from the start and was careful to allocate a percentage of every commission check toward taxes, savings, and his business.

Meyer amassed $39,000 in debt from a single semester before leaving college early and getting into real estate. He reached out to a mentor and brought an assistant on board. The mentor helped Meyer focus on expired listings, and he listed 54 homes over two years. That enabled him to pay off his debt in just 16 months.

from News About Real Estate https://speakingofrealestate.blogs.realtor.org/2017/11/05/how-3-agents-used-real-estate-to-pay-off-student-debt/

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garynsmith · 7 years ago

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How 3 Agents Used Real Estate to Pay Off Student Debt

Three millennial real estate professionals say their jobs were key in helping to retire student loan debt and get on track toward a stable financial future.

Tyler Meyer of Shorewest, REALTORS®, in Delavan, Wis.; Harrison Beacher of the Harrison Beacher Group in Washington, D.C.; and Megan Hornsby of RE/MAX Preferred Associates in Maumee, Ohio, spoke during a session at the 2017 REALTORS® Conference & Expo in Chicago on Sunday about how getting into real estate right out of college gave them the financial means and discipline to escape the student debt trap that plagues so many of their peers.

American students collectively carry $1.7 trillion in outstanding student loan debt—which is second only to mortgage debt—and much of that is owed by millennials, according to data from NAR and American Student Assistance. Only 20 percent of millennials are homeowners, a low number due in part to the debt many are carrying, and 83 percent say their loans are delaying their ability to purchase a home.

Hornsby, who worked as a property manager right out of college, said she was able to pay off her $40,000 debt by buying an investment property in the Toledo area. She and her husband, who’s also a practitioner, bought subsequent houses. Through careful management of their rental and commission income, they were able to retire their debt relatively quickly and amass a sizable portfolio of rental properties.

Beacher, who earned his real estate license after college, paid off his $40,000 in debt over several years by focusing on the first-time home buyer marker. To get started, he leveraged some 3,500 contacts he had on Facebook, many of them his age, and held home buyer seminars. However, what was key for Beacher was taking a disciplined approach to saving. He sought help from a financial planner and accountant from the start and was careful to allocate a percentage of every commission check toward taxes, savings, and his business.

Meyer amassed $39,000 in debt from a single semester before leaving college early and getting into real estate. He reached out to a mentor and brought an assistant on board. The mentor helped Meyer focus on expired listings, and he listed 54 homes over two years. That enabled him to pay off his debt in just 16 months.

from Speaking of Real EstateSpeaking of Real Estate http://ift.tt/2ixzWvr via IFTTT

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jerrymcguireau · 7 years ago

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The Sydney suburbs where the highest proportion of bond money is forfeited by tenants Domain News

Where do the worst tenants in Sydney live?

Based on data released for the first time by Fair Trading, it’s the renters of a little pocket of the south-west with the postcode 2163: Carramar, Lansdowne and Villawood.

Partly in Canterbury-Bankstown and partly in Liverpool and Fairfield, that particular spot has topped Sydney’s rental hall of shame, with a staggering 61 per cent of bond money retained by agents over the April-June quarter in disputes about, or non-payment of, rent.

In Georges Hall 57 per cent of rental bond money was retained.

In third place was more misery for the south-west, with tenants in Cabramatta, Canley Heights, Canley Vale and Lansvale – at postcode 2166 – forfeiting a collective 54 per cent of their bond money.

The data, from the NSW government’s secure online lodgement system Rental Bonds Online, which holds more than 800,000 rental bonds, was released on Thursday by the Minister for Better Regulation Matt Kean. It’s the first time such information has been made publicly available.

“I want to put consumers first and this data does that by allowing open, transparent access to useful rental information,” Mr Kean said. “This untouched data can be analysed by individuals trying to decide where to rent or invest, as well as innovators who could use the data to create apps and other programs to help consumers.”

It tells a sorry story for many of the investors who have raced to buy lower-priced property in the south-west, and lease it out, and are now seeing parts of that area with the highest rates of retention of rental bond money, often indicating difficulties in paying rents.

Only those towns in the Blacktown area of western Sydney with the postcode 2770 offered them any relief, with those coming in at fourth place on the bottom 10 list, losing 51 per cent of their bond money: the suburbs of Bidwill, Blackett, Dharruk, Emerton, Hebersham, Lethbridge Park, Minchinbury, Mount Druitt, Shalvey, Tregear, Whalan and Willmot.

South west Sydney real estate agency director Nickolas Dilles of Century 21 Fairfield said it was still an excellent region to invest in. “The delinquency rate really isn’t that bad, and if you have a good agent then they’ll do all the checks and balances to make sure they’ll get an excellent tenant in.

“On the plus side, it’s also very affordable and cheap, and investors can get a better return than in the eastern suburbs or inner west. Here, you can get rental yields of five to six per cent, and more if you add a granny flat to the back of the house as we often have larger blocks.”

In fifth place came more misery for the south west with Bass Hill, in postcode 2197, losing 50 per cent of bond money, and then in sixth, nearby Yagoona and Yagoona West in postcode 2199, dropped 49 per cent.

Domain Group chief economist Dr Andrew Wilson said that, with rents so high in Sydney and the median rent now sitting at $550 a week, many tenants were being forced into accommodation they couldn’t really afford just to have a roof over their heads. This could ultimately lead to defaults and rental bonds being retained.

“Rents in Sydney today are 30 per cent higher than they are in Melbourne and they’re rising faster than incomes,” Dr Wilson said. “I guess that that means many people are being forced to pay more than they have and, with people in the south-west often having lower income levels than in some other parts of Sydney, defaults would be higher there.”

Tenants’ Union of NSW advocacy and research officer Leo Patterson Ross said the trend in Sydney’s south-west mirrored lower income areas, with census figures showing more than half of people in Georges Hall were paying more than 30 per cent of their rent.

“It’s a clear indication that people in lower income areas are more likely to fall into arrears and the bond is a buffer in those cases,” said Mr Patterson Ross.

He said those on lower incomes were less likely to dispute a bond because there was more at stake when it came to preserving a good relationship with a landlord.

Mr Patterson Ross also made a connection between the high proportion of forfeited bonds, in some cases, and areas with strong migrant populations, arguing that tenants might not be aware they could dispute a confiscated bond.

Mr Kean said the release of this information was helpful for both property-buyers and those who leased them. “Whether families want to live in Paddington or Penrith, Hornsby or Harrington Park, this is an invaluable insight that can help them choose where to rent, invest or purchase a home,” he said.

“The applications of this data are wide-ranging; investors can use it to locate new and emerging rental markets, tenants can find the best and cheapest areas to rent in, and tenants and agents can use it to find areas with long-term residents or families in the community.”

Quarterly house price report

from https://highpowerclean.com.au/the-sydney-suburbs-where-the-highest-proportion-of-bond-money-is-forfeited-by-tenants-domain-news/

from High Power Cleaning Melbourne - Blog http://highpowercleanau.weebly.com/blog/the-sydney-suburbs-where-the-highest-proportion-of-bond-money-is-forfeited-by-tenants-domain-news

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nancydpolardau · 7 years ago

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The Sydney suburbs where the highest proportion of bond money is forfeited by tenants – Domain News