How has COVID-19 left your real estate investments?

The devastating impact of COVID-19 has left many industries crippled, with the far reaching effects filtering to every corner of our economy. Real estate rentals is one such industry now desperately seeking amicable solutions to ensure tenants can stay in their homes and landlords aren’t unfairly left to carry a heavy financial burden. However, not every agency is in the same boat. Bell Estate Agents in Brisbane are a specialist property management company that has been confidently riding the COVID-19 wave, safe knowing that their regular due diligence and attention to detail has protected both them and their landlords during these tough times.

For too long, property management has been seen as the cash cow for sales agencies biding their time until they can sell the property. As a result, their level of care and attention to detail often reflects this lackadaisical approach, now leaving them and their clients exposed and vulnerable. Many are now leaving their landlords to fend for themselves against opportunistic tenants and unsympathetic lending agencies, putting a huge amount of pressure on what is already a stressful situation. Bell Estate Agents do things differently. With their primary focus being to grow and protect your real estate investments, they make no secret of the fact that they put landlords first and have been personally managing all negotiations on their behalf.

Jonathan Bell, Managing Director of Bell Estate Agents has built his business by sticking to several fundamental principles of property management and surrounding himself with a high quality team of industry professionals who are always on hand to support their property owners. As a result, Bell Estate Agents only have 2.2% of tenants who have requested relief during this unprecedented crisis. They’ve achieved this due to the comprehensive risk analysis completed on all tenants prior to their placement and taking the time to build up trusting relationships with both tenants and landlords. Bell Estate Agent’s due diligence prior to and during this difficult period has seen a large spike in new landlords seeking a greater level of care for their properties and their process for relief implementation has ensured that only those who truly require it, receive it.     

With several key fundamentals in place, Bell Estate Agent’s landlords can be confident that their tenants and their properties will be in the best position to ride out any future crises. Their landlords all have a great relationship with their primary point of contact, knowing that support and advice is only a short phone call away. When it comes to one of your biggest financial investments, it is comforting to know that you’re well protected.

Sue Mitchell – “I feel much more confident knowing that Bell Estate Agents are now handling my properties.”

Jonathan Bell saw an unmissable gap in the market when he debuted his real estate career and has since carved out a niche service designed solely for the benefit of real estate investors. Bell Estate Agents level of service hasn’t been diluted under the weight of a large brand and they’re not driven by the prospect of future sales. If you expect a higher level of service from your property manager and wish to be reassured that your investment is in the very best hands, then call Jonathan Bell today.

Short-Term Rental Groups Backflip on their Promise of Guaranteed Rental Income

The speed and dramatic impact of COVID-19 has had far reaching effects and a severe impact on every aspect of our economy. With our tourism industry and ability to travel receiving the biggest blow, many businesses have had to swiftly adapt in order to survive. With a slow recovery predicted, some have taken to reneging on old promises and falling back on weak contracts to reduce their exposure and risk.

One such industry that has ended up in this situation is that of short-term rentals and specifically the hotels, suites and apartments within Brisbane’s inner city and surrounds that has so heavily relied on tourist and business travellers. As the demand for short-term rentals started to rise in the early 2000’s and inner city apartments began to flood the market, many owners were attracted by the promise of a guaranteed rental income by large letting companies who monopolised the management of entire buildings. It was a safe way to enter into the real estate investment market, but now property owners are furious.

In swift succession following the start of the COVID-19 crisis, what was a guaranteed rental income has been significantly reduced, and for some now only 50% of all rental income. However, with such severe travel restrictions in place, 50% of nothing is still nothing! Now, with so many empty apartments on the market and little chance of reprieve within the next 12 months, owners are desperately seeking alternatives, with their safest option being to find a long-term tenant. Following a similar model to Air BnB, short-term rental agencies are not geared up to seek or place long-term tenants and their long-term leasing partners have already exhausted their limited databases.

As a result, quick-thinking owners are moving to list their inner city apartments with boutique letting agencies such as Bell Estate Agents who still have high quality tenants ready to place. BEA has an excellent reputation for exemplary service and a ready database of valuable long-term tenants looking for inner city living. In the past week alone, Bell Estate Agents has taken on multiple new unit listings at 420 Queen Street, 128 Charlotte Street and 18 Tank Street with the list growing daily. Jonathan Bell, owner of Bell Estate Agents says, “the long-term rental market is still performing well. We are leasing properties within 7 days at the asking price on long-term leases”.

However, to ensure the team can maintain their high level of service and give each owner the highest chance of placing a tenant, BEA will be capping the number of properties per building. Above all else, Bell Estate Agents value their clients and their reputation for 100% home owner retention. Although several managed buildings have maintained a minimal guaranteed income, the big players have already demonstrated how quickly they’re willing to backflip on this. So, if you’ve found yourself in this unfortunate situation or don’t want to risk missing out on securing a permanent tenant, now is the time to capitalise on this unique opportunity. For more information or to arrange an obligation free rental assessment, contact Jonathan Bell.

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