Regardless of the state of the market or which pandemic hits - you will find that you will still need to sell, lease or lord. So let us be of service!

sheTALKS…. Property during a pandemic

[as heard on 3AW Australia Overnight with (silver fox) with Tony Moclair.]

https://www.3aw.com.au/show/australia-overnight-with-tony-moclair-3aw/

Jodie J’s answers for Tony Moclair’s Victorian listeners from Friday 31 July 2020 **

·      Landlord Louis, Avondale Heights, had trouble with his tenant not paying full rent on time prior to covid19 and now mid pandemic -  what does he as a landlord  do?

“First up please note that property managers have landed the unpaid job of managing the response to protect both the landlord and the tenant during this pandemic so send them money, flowers and least of all your gratitude and patience!

Secondly, this is the time for honest conversations and tough calls. Communication is key. This tenant maybe living beyond their means or maybe the landlord has enjoyed above market rental returns. A game plan is needed so that both parties can win. Evictions are to be avoided and during this pandemic there is a moratorium on evictions for the next 6 months.

Ensure you know your rights and their rights and make it right Louis!

https://www.consumer.vic.gov.au/resources-and-tools/advice-in-a-disaster/coronavirus-covid19-and-your-rights/restricted-areas

Financial assistance to tents can be applied for and implemented your property managers by applying for the $2000 covid19 rental relief grant.

https://www.housing.vic.gov.au/help-renting/rentrelief.

Good luck Louis!”

·      Commercial leaseholder of a Function Centre, Joe, has lost 100% of his revenue. He has secured job keeper but asks what are his obligations on his commercial lease?

Joe! We too owe rent on our agency’s office so empathise yet do not feel the magnitude of your pain…

The government has implemented a 6 month moratorium on commercial tenancy

evictions from 29 March 2020 for the non-payment of rent for small to medium enterprises with an annual turnover under $50 million that have experienced a minimum 30% reduction in turnover due to coronavirus

…So from your call it seems you just might be eligible…. however, you must apply for the commercial tenancy relief scheme.

https://www.business.vic.gov.au/disputes-disasters-and-succession-planning/coronavirus-covid-19/Coronavirus-COVID-19-business-support-and-financial-assistance-finder/company/rental-or-tenancy-issues/commercial-rent,-lease-or-eviction-concerns

Also do visit the Victorian Small Business Commission and find out more. Good luck mate

https://www.vsbc.vic.gov.au/fact-sheets-and-resources/faqs/

·      Inheriting her father’s house in Glen Waverly, Kathy asked is now a good time to sell?

A good time to sell is when you are ready. You can always lease a property first as you grieve and get ready for the business end.

REIV reported for the June Quarter that metropolitan median house prices only decreased by 3.25%. It’s about supply and demand during a crisis. People’s ability to buy maybe delayed but depending on the suburb and the house properties hold value. Fortune favours the bold and those who can buy will.

Glen Waverly median house prices: https://www.realestate.com.au/neighbourhoods/glen-waverley-3150-vic

Good luck Kathy.

·      Michael, Werribee is managing his father’s portfolio in the city and cannot get an apartment leased in the city. He asks should he lower the price?

Position, Price, Promotion and Presentation are the four Ps in selling and often overlooked in leasing. Make sure your property is presented and promoted in a way that breaks through the competition of the oversupply of city apartments – make it stand out!! Then, yes, lower the price but you make this agreement for 6 months and then return to market price once this pandemic has settled.

Good luck to you Mike and your Dad.

** This advice has been given in good faith with current legislation at hand – as legislation is always subject to change, keep your finger on the pulse and check first like we do! Or better still please do give us a call, text or email.

“May you sell well & lease with the knowledge that the world is only ours to rent!”

Jodie J Hill sheSELLS +sheLORDS  Real Estate.