Not all apartment amenities are immediately visible.

Swimming pools, gyms, rooftop terraces and residents' lounges have long featured on buyers' wishlists, but as the way Australians live has changed, so too have the features that make apartment living more convenient.

Increasingly, buyers are placing value on the practical aspects of day-to-day life. Fast internet, EV charging, secure bike storage, flexible workspaces and parcel management are becoming just as relevant as lifestyle amenities, reflecting changing habits and expectations.

Online shopping has been one of the biggest drivers of that shift.

Australians spent a record $82.6 billion shopping online in 2025, with almost one in every four retail dollars now spent digitally, making parcel deliveries a routine part of everyday life rather than an occasional convenience.

For apartment residents, however, receiving those deliveries isn't always straightforward.

Without someone home to accept a parcel, deliveries can be redirected to a nearby Post Office, left in building foyers or common areas, or require building management to temporarily store packages. As apartment living continues to grow across Australia's cities, parcel management has become an increasingly important consideration for both residents and developers.

Australia Post's Parcel Locker network is one response to that shift.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/KPZ9j5FRdsQ?si=Qztc1dNP3ZvEIUhb" title="YouTube video player" width="560"></iframe>

Rather than relying on home delivery, eligible parcels can be directed to a nominated Parcel Locker, where they're securely stored until collected. Once a parcel arrives, residents receive a notification through the AusPost app or SMS and can retrieve it using a one-time code or QR code at a time that suits them.

The network has expanded to more than 1,500 locations nationwide, with Parcel Lockers positioned at Post Offices, shopping centres, supermarkets, transport hubs and, increasingly, within or alongside residential developments.

That growing presence reflects a broader change in how apartment buildings are being planned.

Developers are increasingly considering the operational side of apartment living alongside traditional lifestyle amenities. Just as secure mailrooms, bicycle storage and EV charging have become more common inclusions, parcel management is emerging as another feature that supports everyday convenience.

It also helps preserve the arrival experience within a building. Carefully designed lobbies and communal spaces can quickly become cluttered when deliveries accumulate, while secure parcel solutions reduce the likelihood of missed deliveries or parcels being left unattended.

For buyers comparing apartments, these everyday details are becoming part of the decision-making process.

Location, floorplans and finishes remain fundamental, but the features that simplify daily life are carrying greater weight than they once did. As online shopping continues to shape consumer behaviour, secure parcel delivery is increasingly becoming another amenity worth looking for.

Joel Robinson

Parcel delivery is joining the apartment amenity checklist

Inca Property Group has lodged a State Significant Development Application (SSDA) for Dawn, a 53-apartment oceanfront development overlooking Mona Vale Beach.

The proposal, at 35-39 Darley Street East, would replace an existing 18-apartment strata building with a new owner-occupier-focused development comprising 53 two and three-bedroom apartments, including nine affordable built-to-rent residences delivered under the State's infill affordable housing scheme.

Positioned on a 2,679 sqm elevated site around 280 metres from Mona Vale Beach, the development has been designed to maximise panoramic ocean views while responding to the site's sloping topography.

<a href="https://www.apartments.com.au/developers/inca-property-group">Inca Property Group</a> Managing Director Josh Thompson said the State Significant pathway provided greater certainty for projects of this scale.

"This State Significant pathway gives the team real certainty to progress <a href="https://www.apartments.com.au/new-apartments/dawn-35-39-darley-street-east-mona-vale-nsw-2103">Dawn</a> through to completion," Thompson said.

"It allows us to acquire a one-off site, design it carefully and deliver the right offering for the suburb, assessed by the NSW Government's planning department."

The project is one of the first developments in the area to be assessed under the NSW Government's Low and Mid-Rise Housing policy, with the site sitting on the edge of the policy's designated inner area.

The proposal includes three basement levels providing 124 car spaces, alongside a range of resident amenities including a swimming pool, gym, sauna, wellness facilities and private plunge pools for selected ground-floor and penthouse apartments.

<img alt="Dawn" data-entity-type="file" data-entity-uuid="fc1a1daf-0ce4-4f12-9076-b1fa553c7a91" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-21%20at%208.42.11%E2%80%AFAM.png?VersionId=4GZ9h.gpNkTljbxyAET8Jfhv51XUamDm" />

Thompson said Dawn had been designed specifically for owner-occupiers and downsizers, a buyer profile that has driven demand across Inca's recent Upper North Shore developments.

"The majority of buyers in our recent North Shore projects have been downsizers, and we are learning exactly what this market is looking for. Beyond the location itself, we have included resort-style amenities to deliver a genuine lifestyle offering," Thompson said.

Located within walking distance of Mona Vale Beach, the town centre, Mona Vale Golf Club and the Royal Motor Yacht Club, Dawn represents Inca's first Northern Beaches project following the sell-out of Tara on Park in Waitara and Ellis Residences, currently under construction in St Ives.

Construction will be undertaken by Inca's in-house construction arm, GOP Constructions.

Dawn is the latest major apartment proposal for Mona Vale, with the suburb emerging as one of the key beneficiaries of the NSW Government's new Low and Mid-Rise Housing policy.

New developer One Living, led by industry veteran Joseph Scuderi, recently secured a site on Mona Vale Road, on the border of Mona Vale and Pymble, where it is planning around 140 apartments.

IPM is also planning its third project in Mona Vale, significantly increasing the scale of its previous developments with an 82-apartment proposal at <a href="https://www.apartments.com.au/new-apartments/159-167-darley-street-west-mona-vale-nsw-2103">159-167 Darley Street West</a>, opposite Bayview Golf Course and less than 800 metres from Mona Vale town centre.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/one-living-enters-sydneys-new-apartment-market-with-northern-beaches-site-acquisition">One Living enters Sydney's new apartment market with Northern Beaches site acquisition</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-ipm-plans-third-mona-vale-project">First look: IPM plans third Mona Vale project</a>

First look: Inca eyes Mona Vale with State Significant DA for Dawn apartments

Seasoned Victorian apartment developer <a href="https://www.apartments.com.au/developers/central-equity">Central Equity</a> has logged more than $400 million in sales in its luxury apartment project Palmera Residences at Northcliffe on the Gold Coast.&nbsp;

Central Equity Director Karl Kutner said the sales result reflected a combination of location, product quality and delivery certainty with the project already under construction by building powerhouse Multiplex.&nbsp;

"Surpassing $400 million in sales since launch is a significant milestone and an outstanding endorsement of <a href="https://www.apartments.com.au/new-apartments/palmera-residences-gold-coast-18-garfield-terrace-surfers-paradise-qld-4217">Palmera Residences</a>,” he said.&nbsp;

"We believe one of the key reasons for this strong result is the confidence purchasers have in knowing the project is under construction with Multiplex. Buyers are increasingly looking for certainty. They want to know that the project they commit to today will be delivered by an experienced team with a proven track record."&nbsp;

[smartcode_project:default project_id=108274 project_image_fid=365782]

Kutner said it was clear there was still high demand for luxury projects that offered certainty of delivery.&nbsp;

“We are in a market where many residential developments have faced delays due to rising construction costs, labour shortages and financing challenges,” said Kutner.&nbsp;

"But having construction underway has provided our buyers with resounding confidence backed by more than 40 years of development delivery by Central Equity combined with construction by one of Australia's most respected construction companies."&nbsp;

[smartcode_project:default project_id=108274 project_image_fid=365785]

Central Equity is one of Australia's most experienced privately-owned property developers. Over more than four decades, the company has delivered in excess of 85 residential developments including 10,000 apartments and many thousands of stand alone homes.&nbsp;

Located on Garfield Terrace at Northcliffe, between Surfers Paradise and Broadbeach, Palmera Residences occupies one of the Gold Coast's most sought after beachside locations. The development has been designed to appeal to owner occupiers seeking premium residences that combine generous living spaces and resort style amenities.&nbsp;

Palmera Residences will feature an exceptional collection of resort style amenities, including two swimming pools: a generously sized family pool with safe shallow zones for relaxed recreation, and a 20 metre lap pool positioned to maximise all day sunlight.&nbsp;

Residents will also enjoy exclusive access to wellness and recreational facilities including a magnesium pool, sauna, yoga studio, expansive fitted gymnasium, resident lounge, outdoor BBQ’s&nbsp;and indoor and outdoor dining areas, together with a dedicated concierge and luxurious hotel inspired entrance foyer.&nbsp;

[smartcode_project:default project_id=108274 project_image_fid=365767]

A unique feature at Palmera Residences has been designed to enhance the Gold Coast lifestyle which includes both indoor and outdoor gymnasium facilities, together with thoughtfully designed indoor and outdoor dining and entertaining areas. A corner café has also been incorporated to provide residents with a destination for their everyday needs.&nbsp;

Kutner said buyer demand had been broad based with purchasers attracted from interstate as well as throughout South East Queensland.&nbsp;

"We're seeing strong interest from owner occupiers, lifestyle buyers and people relocating to the Gold Coast. Many purchasers have been searching for a premium beachside residence where quality, design and delivery are equally important."&nbsp;

[smartcode_project:default project_id=108274 project_image_fid=365771]

Kutner said the sales milestone was an important achievement, but the focus remained firmly on delivering an exceptional development.&nbsp;

"While reaching $400 million in sales is an important milestone, our priority remains delivering a project that exceeds purchaser expectations,” he said.&nbsp;

"Palmera Residences has been designed to become one of the Gold Coast's landmark residential addresses, and we look forward to welcoming our purchasers to their new homes."&nbsp;

There are a limited number of residences remaining in selected configurations with pricing from $2,950,000 to $8,950,000. Palmera Residences is also crowned by expansive penthouses with wrap around views.

[smartcode_project_cta:default project_id=108274]

Construction certainty and strong buyer demand drive major sales result for luxury Gold Coast development

Palmera Residences fly out the door as sales pass $400 million

National property developer <a href="https://www.apartments.com.au/developers/goldfields-group">Goldfields</a> has appointed BINAH as its construction partner for Quartet, its new Brisbane apartment development in the undersupplied suburb of <a href="https://www.apartments.com.au/developments/milton-qld-4064">Milton</a>.

Located just two kilometres from the Brisbane CBD and moments from key 2032 Olympic precincts, <a href="https://www.apartments.com.au/new-apartments/quartet-milton-33-manning-street-milton-qld-4064">Quartet</a> will deliver 131 one, two, three, and four-bedroom apartments priced from $1 million to $4.2 million, combining elevated design with a wellness-focused lifestyle offering.&nbsp;

[smartcode_project:default project_id=108736 project_image_fid=368000]

Goldfields’ Chief Executive Officer, Lachlan Thompson, said the appointment of <a href="https://www.apartments.com.au/builders/binah-constructions">BINAH</a> marked an important milestone for the project.&nbsp;

“Bringing BINAH on board as our construction partner will allow us to bring our vision for Quartet forward with a team that has a proven track record of delivering high-quality residential projects,” Thompson said.&nbsp;

“We’ve taken a considered approach to progressing the site because we wanted to deliver the whole package. Buyers ultimately back great developers, great projects and great builders, and with Quartet, we’ve made sure all three line up.

“People want certainty, they want to know the project will be built, that the homes will be delivered as promised, and that the developer stands behind the quality of what they create. That’s something Goldfields has built its reputation on over many years.”&nbsp;

[smartcode_project:default project_id=108736 project_image_fid=367993]

BINAH’s Managing Director, Khalil Hafza, said the company was proud to be partnering with Goldfields to deliver Quartet.&nbsp;

“Quartet is an exciting project to bring to life, particularly given the level of detail in the residences and the extensive rooftop amenity planned for the building,” Mr Hafza said.&nbsp;

“Our focus is on delivering a high-quality build that brings that design vision to life and creates homes residents will enjoy for many years.”&nbsp;

[smartcode_project:default project_id=108736 project_image_fid=367999]

The facilities at Quartet have been feared towards the roof, with a&nbsp;25 metre lap pool, spa, sauna and cold plunge, and a communal barbecue area and alfresco.

Town planning was designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and brought to life by Melbourne-based architecture firm Cera Stribley.

<a href="https://www.apartments.com.au/interior-designers/cera-stribley">Cera Stribley</a> Co-Founder and Managing Principal, Dom Cerantonio, said the project responds to both its riverside setting and Brisbane’s evolving urban character.&nbsp;

“Quartet has been designed to sit comfortably within its riverside context, offering a refined take on urban living through well-planned, generously proportioned residences that will stand the test of time,” Mr Cerantonio said.&nbsp;

“An emphasis on natural light, natural textures and carefully selected finishes from timber and marble to premium appliances, creates calm, considered interiors designed for comfort and long-term liveability.”&nbsp;

Construction of Quartet will commence in July 2026, with completion anticipated in Q4 2028.

[smartcode_project_cta:default project_id=108736]

Construction to commence on 131-residence tower designed around wellness-focused living

Goldfields appoints BINAH for Quartet apartments in Milton

The first partnership between national developer <a href="https://www.apartments.com.au/developers/fortis">Fortis</a> and Adelaide-based developer <a href="https://www.apartments.com.au/developers/otello">Otello</a> has made a strong start, with the pair securing $21 million in unconditional sales at <a href="https://www.apartments.com.au/new-apartments/one-four-four-hutt-adelaide-144-hutt-street-adelaide-sa-5000">One Four Four Hutt</a>&nbsp;on the edge of the Adelaide CBD.

Over a third of apartments have been snapped up in the boutique 44-apartment project on the corner of Hutt Stret and Wakefield Road. Local downsizers and owner-occupiers wanting to remain in Adelaide's tightly-held southeast quarter have been the most prominent purchasers.

The DKO-designed, mixed-use development is one of the few new apartment projects in the precinct, an area where new housing supply has remained limited despite continued demand from buyers wanting to stay close to the CBD, Victoria Park and Adelaide's established east-end amenities.

[smartcode_project:default project_id=151233 project_image_fid=375378]

Fortis Head of Development SA Arthur Dendrinos said the early sales reflected both the strength of the local owner-occupier market and confidence in the Hutt Street location.

"The level of early commitment reflects the confidence local buyers have in the Hutt Street precinct," Dendrinos said.

"Many purchasers are long-term east-end residents who love the area and want to stay connected to the neighbourhood. They recognise the value of a well-designed, well-located development.

"Our partnership with Otello has been central to this success, and the number of unconditional sales at this stage only strengthens our confidence in the South Australian market."

[smartcode_project:default project_id=151233 project_image_fid=375379]

Otello Director Daniel Harris said the sales result also highlighted the lack of new apartment opportunities within the Hutt Street precinct.

"One Four Four Hutt has clearly resonated with buyers, with strong early sales reflecting both the appeal of the Hutt Street corridor and the lifestyle on offer," Harris said.

"The activated ground-floor retail has also been a key drawcard, with purchasers responding to the vision of a more vibrant and connected streetscape, not just the residences themselves."

One Four Four Hutt will deliver 44 one, two and three-bedroom apartments, alongside a collection of penthouses, above a ground-floor retail offering designed to further activate the Hutt Street precinct.

Construction is scheduled to commence in the third quarter of this year, with completion anticipated in 2028.

[smartcode_project_cta:default project_id=151233]

Fortis Head of Development SA Arthur Dendrinos said the early sales reflected both the strength of the local owner-occupier market and confidence in the Hutt Street location.

Fortis makes Adelaide debut with Otello as One Four Four Hutt records strong early sales

Property Management

<html><body>
The typical Australian landlord is an owner occupier, at midlife, in a household with two incomes.
Some 72% own just the one rental property.
They don't see themselves as landlords, but rather investors.
Estate agents manage around 75% of these rental properties, an unusually prominent role compared to overseas practice.
The shift from finding rentals in agency office windows has long shifted online and now new technological innovations are being slowly embraced by agents, given raised demands from tenants and some landlords too.
These digital platforms are offering efficient ways at dealing with tenants. 
The Property Connect website offers the means for online move-in dates, lease terms, and even seek competitive rental pricing through LiveOffer. 
The Trustbond website seeks to replace the cash rental bond with a surety certificate. 
Other tech enabling advancements address scheduling property inspections, collecting rents and and organising repairs. 
There's the prospect of tenants across Australia getting their own online profile promoting their worthiness to landlords.
These days tenants are renting for longer periods with around a third of private renters staying in the rental market for a decade or longer.
Recent research has the market demographics changing quite significantly.
Traditionally it was transitional housing tenure for young people in the time between leaving the family home and becoming home owners, but now the market has moved to catering for many more private renters at mid-life. There are more private renters with children.
There has been an increase in both lower and higher income households seeking out the private rental market.
Interestingly, about one in eight landlords are themselves a private renter.
A new report from the Australian Housing and Urban Research Institute noted the biggest change in landlord ownership was in the financing with owners of rental properties relying more heavily on debt.
This affirms the ultimate purpose of landlords is their financial returns. 
These are currently being challenged, so it will be interesting to see if the landlords stay as dwelling values fall and gross rental yields sit close to historic lows.
CoreLogic has tracked rents for over a decade and the latest 0.4% annual fall in Sydney rents for the year to August was the largest decline on record.
Gross rental yields remain low in Sydney at 3.21%.
The total returns from residential housing are not looking "so attractive", CoreLogic research analyst Cameron Kusher recently noted.
Across the capital cities, total returns are at 0.8%, with total returns in Sydney actually falling by 2.5% in the weakest result since 2009.
After dwelling values fell in Sydney over the past year, it highlights that capital growth largely dictate total investor returns in Sydney. 
Kusher suggests given the decline in returns and an expectation that returns will continue to shrink, investors could seek out housing in other regions of the country where total returns remain positive.
It sits at 6.6% for the combined regional markets across Australia and 6.7% for total returns in regional NSW.
But Kusher warns these returns are anticipated to be far inferior to those recorded over recent times in Sydney.
This article first appeared in The Daily Telegraph. 
</body></html>

jchancellor-FAypfDUnLy

Lower and higher income households seeking out private rental market

<html><body><div>
Richard Wakelin, founder of Wakelin Property Advisory, has suggested properties with high yields tended to be more vulnerable than other properties to economic shocks, not less.
"They are often located in areas that struggle economically in the best of times due to a limited and narrow economic base and contain tenants who are more susceptible to bouts of unemployment," he wrote in his latest Fairfax Media column.
"Consequently, in downturns, there is a serious risk of rent arrears and extended vacancies that can bleed dry an investor's cash reserves and capital values that fall harder than elsewhere." 
<div>
Those properties essentially have high yields as compensation for the high risk the properties present, he warned.
</div>
<div>
"In these less certain times for property, I would much prefer to see a risk-averse prospective investor sit on the sidelines than opt for a high-yielding asset," he suggested before adding over the long term, sitting on the sidelines and not buying growth assets was a material risk to future retirement prospects.
He suggested few are able to "time the market" and buy at the bottom.
"So put aside the market cycle.
"Invest when you have the means," the Melbourne buyers' agent suggested.
<div>
Noting most capital city residential property markets are slated for little or even negative capital growth in coming months, Wakelin rebuked the suggestion that the promise of some income make high-yielding properties was the least bad asset to hold in a time of decline.
They were not the property market's equivalent of the equity market's unglamorous but safe defensive utility stocks that pay a significant dividend twice a year.
<div>
Wakeline said there had been "a hard few years for those seeking income yield" as property yields had, in line with most other assets, receded "almost remorselessly."
He cited CoreLogic charting a fall of capital city gross yields from 4.5 per cent for houses and 5.1 per cent for apartments back in March 2012 down to 3.2 per cent for houses and 4 per cent for apartments in December 2017, adding yields vary markedly from property to property, location to location.
"Yields for multi-million-dollar mansions in Sydney or Melbourne are often less than two per cent.
"By contrast, yields for student studio apartments or outback houses can be in excess of six or even seven per cent."
</div>
</div>
</div>
</div></body></html>

j.ballantyne1990-6AQqhLzZaK

Warning that properties with high yields carry high risk in current downturn

<html><body><div class="page" title="Page 1">
<div class="layoutArea">
<div class="column">
McGrath Estate Agents has secured the return of Michael Conolly as Head of Network Property Management for McGrath.
Mr Conolly has over 28 years’ experience in residential, commercial and business management.
Mr Conolly returns to McGrath after a short break from the company. He first started with McGrath in 2002 - 2005 as General Manager of Property Management, and returned in 2010 to a newly established role of Head of Network Property Management.
McGrath Head of Franchise, Christopher Mourd, said Michael "will be a strong asset in our future growth.”
Conolly will work alongside Rob Fearnley, Head of Corporate Property Management for McGrath.
Fearnley joined the Company in September last year and is responsible for overseeing the Company Owned Property Management business across NSW and QLD. 
<div class="page" title="Page 2">
<div class="layoutArea">
<div class="column">
The McGrath network has 33,082 properties under management representing approximately $21.5 billion in residential asset value. 
"All our clients, investors and long-standing teams across the country need to remember that McGrath has not only survived all past cycles, but has flourished and continued to grow," Conolly said.
</div>
</div>
</div>
</div>
</div>
</div></body></html>

McGrath hires Michael Conolly as property management head

<html><body>
The Victorian government has announced reforms to the rental market.
The reforms include limiting rent increases for the same tenant to once a year. 
The government will also abolish "no specified reason" notices to vacate, and new restrictions will be placed on ending leases without a reason at the end of a lease when that lease has lasted more than one fixed term.
The State Labor Government says "a rent increase every 6 months can put strain on the hip pockets of renters."
Less frequent rent increases will help tenants manage cost of living pressures.
"Rent increases are changing from being able to be increased every 12 months instead of every 6 months," the government signalled.
"Rent increases must be reasonable.
"Tenants have the right to appeal to VCAT if they believe an increase is excessive compared with the market rent," the government announced.
Landlords will be expected to put their best foot forward from the outset of the rental process by settling on a realistic fixed price, enabling applicants to broadly rely on the advertised price when looking for their next rental property.
All landlords and agents must:
<ul>
<li>be advertised at a fixed price (no ranges or ’price plus’ advertising)</li>
<li>not invite prospective tenants to make an offer at a price higher than the fixed price (including via technology platforms)</li>
</ul>
The reforms require amendments to Residential Tenancies Act 1997. The process to amend the RTA is underway.
Victorian landlords and real estate agents risk being put on a blacklist under these state government reforms aimed at giving tenants more rights.
<div class="story-content">
Premier Daniel Andrews says the changes will also prevent blanket bans on pets in rentals, establish a commissioner for residential tenancies, and force landlords to disclose to potential tenants plans to sell.
"For too long we've had an imbalance and things have not been as fair as they should be," he told reporters in Melbourne on Sunday.
"The landlord and the agent have all the power and given how tight the market is, the tenant can't speak out and has no voice."
"The one in four Victorians that rent their home have for a long time have been owed a much fairer deal, and we are going to give it to them,'' Mr Andrews said.
The legislation will be introduced to parliament in 2018.
Consumer Affairs Minister Marlene Kairouz says potential renters will still be able to offer additional money to secure a place.
"Real estate agents will be prohibited from advertising a range for the rental price ... they have to advertise the exact amount," she said.
"If a renter really wants a property and is prepared to pay an extra $10 a week, they (agents) will be able to accept that but they're not able to solicit extra money."
The Real Estate Institute of Victoria was quickly critical of the government's plan, which it said would "significantly imbalance the market in favour of tenants".
"All landlords should reconsider whether they want to remain in the private rental market given their rights are being eroded," REIV chief executive Gil King said in a statement.
Current laws restrict any rental agreements to a maximum of five years but Premier Daniel Andrews said, when introducing reforms earlier this year, signalled under the new rules there would be no "artificial cap."
One-year leases are the norm for most renters in Victoria.
</div>
</body></html>

Victorian residential landlords to lose right to up the rent twice yearly

<html><body>
Rental community platform startup, Snug.com, is set to launch a surety bond which it says will free up renters’ cash while also providing protection to landlords. 
The surety bond, BondCover, swaps the traditional cash rental bond with a certificate of guarantee, backed by Snug. 
This guarantees that the owner will be paid for a valid claim against the rental bond using the same claims process, rights, and obligations for renters and owners – but without tying up thousands in cash. 
Owner claims are paid within two business days by entering the Tribunal order number.
Snug says its product is designed to free up $4 billion worth of rental bonds.
Snug founder said that the current cash bond system is outdated, and the “resulting liquidity and opportunity cost for renters is astronomical”.
“With 2.5 million renters across Australia, it’s time to recognise good renting,” he said.  
“BondCover provides the necessary protection to owners, but in a way that doesn’t lock down renters’ precious cash for no good reason – a win-win for all parties. And imagine the returns if renters had invested $4 billion in the Sydney property market, paid off debt, or invested in Amazon shares over the past 5 years instead!”
Renters can purchase BondCover for around 5 per cent of the face value of the rental bond, and are provided with a certificate of guarantee to give the owner or agent to replace a cash bond. So, a current renter with a $2,000 bond could obtain BondCover for around $100 per annum, and receive $1,900 in cash back.
Snug will open BondCover applications to renters on September 1.
BondCover was conceived after Snug research found that 99 per cent of renters do the right thing: around 80 per cent of rental bonds are refunded without claim, and almost all of the remaining 20 per cent is largely negotiated then resolved between parties. 
In building its platform, Snug conducted legal and actuarial research, and engaged with state governments. 
Its focus group research on hundreds of renters found that renters are most concerned about their rental reputation and ability to rent their next property, driving their good behaviour.
“Snug’s BondCover product has been designed to comply with existing rental tenancy legislation and relevant financial services and insurance regulations. This is digital innovation in housing, that’s good news for affordability, and it’s a stimulus to the economy with strong consumer benefits,” continued Justin Butterworth.
“The world has changed since the cash bond system was designed. It’s 2017, we have the technology to better manage identity, reputation, and recourse to create a more efficient securitised rental bond system. The days of the cash bond are over,” concluded Justin Butterworth.
Snug was one of the first startups to be housed in IAG’s onsite accelerator, Firemark Labs.
</body></html>

jonathanchancellor-7SQnKwU6yx

Startup Snug to launch surety bond to unlock renters’ bond cash

<html><body>
When a tenant goes bust, there’s a big impact on the landlord. 
The insolvency practitioner appointed to the tenant has rights and powers under the Corporations Act 2001 (Cth) while the landlord has rights and powers under the lease with the tenant.
Here’s a run-down of who can do what.
Start at the beginning and look at the lease 
The lease is a binding contract between the tenant and landlord, so it’s the first thing to read when the tenant becomes insolvent.
For example, the lease might say that any insolvency event of the tenant constitutes such a breach that the lease is immediately terminated.  Otherwise, the insolvency event may be a breach and the lease stays on-foot at the option of the landlord.
In any event, the appointment of an insolvency practitioner to the tenant doesn’t waive the tenant’s liability to any rent or other amounts outstanding under the lease.
What happens when a receiver is appointed to the tenant? 
A company typically goes into receivership when a secured creditor appoints a receiver to those assets of the company over which the creditor has security. The receiver’s role is to collect and sell enough of the company’s charged assets to pay back the debt owed by the company to the secured creditor.
If a receiver is appointed to a tenant company:
• Within the first 7 days after the appointment, the receiver can give the landlord notice that the receiver doesn’t intend to exercise any rights in relation to the landlord’s property, which means the receiver isn’t personally liable for rent or other amounts payable under the lease during their occupation of the landlord’s premises.  
• If no notice is given, the receiver is personally liable for rent and other amounts payable under the lease from 7 days after the receiver’s appointment until:  
the receiver retires from their appointment; or the company ceases to occupy the landlord’s premises.  
• The receivership doesn’t affect the rights of creditors, which means the landlord can move to take possession of the premises, or enforce the terms of the lease, or commence legal action against the tenant (eg to recover rent arrears).  
• The company does remain liable for rent and other amounts owing under the lease before the receiver’s appointment.  
• Personal guarantees under the lease can be enforced by the landlord during the receivership.
What happens when an administrator is appointed to the tenant? 
An administrator is usually appointed by a company’s directors after they decide the company is insolvent or likely to become insolvent.  The effect of the appointment of an administrator is to provide the company with “breathing space” while the company’s future is contemplated and resolved.
If an administrator is appointed to a tenant company:
• Within the first 5 days after the appointment, the administrator can give the landlord notice that the administrator doesn’t intend to exercise any rights in relation to the landlord’s property, which means the administrator isn’t personally liable for rent or other amounts payable under the lease during their occupation of the landlord’s premises.  
• A notice will cease to have effect if: the administrator revokes the notice in writing; or the company exercises, or purports to exercise rights in relation to the landlord’s property (eg continues to trade from the premises).  
• If no notice is given, the administrator is personally liable for rent or other amounts payable under the lease from 5 days after the administrator’s appointment for so long as: the company continues to use, occupy or be in possession of the premises; and the administration continues.  
• The administration does affect the rights of creditors, which means the landlord can’t move to take possession of the premises, or enforce the terms of the lease, or commence legal action against the tenant (eg to recover rent arrears) without: the administrator’s consent; or leave of a court.  
• The company does remain liable for rent and other amounts owing under the lease before the administrator’s appointment.  
• Personal guarantees under the lease can’t be enforced by the landlord during the administration.
What happens when a liquidator is appointed to the tenant? 
A liquidation brings a complete end to the company. It involves a liquidator realising (selling) the company’s assets, cessation or sale of its operations, distributing the proceeds of realisation among its creditors and distributing any surplus among its shareholders.
If a liquidator is appointed to a tenant company: 
• At any time the liquidator can disclaim the lease and vacate the landlord's premises, which means: the liquidator isn’t personally liable for rent or other amounts payable under the lease and nor is the company during the liquidator’s occupation of the premises; and the landlord can, if permitted by the lease, re-enter and take possession of the premises.  
• If the lease isn’t disclaimed and the liquidator stays in the premises, the liquidator still isn’t personally liable for rent or other amounts payable under the lease although these amounts will be treated as expenses incurred in the liquidation (and therefore paid out of the proceeds of sale of the company’s assets).  
• If the lease hasn’t been disclaimed and the liquidator hasn’t otherwise advised their intentions, the landlord can issue a notice asking the liquidator to confirm their position about the lease and the liquidator has 28 days to respond.  
• The liquidation does affect the rights of creditors, which means the landlord can’t continue or commence legal action against the tenant (eg to recover rent arrears) without leave of a court.  
• The company does remain liable for rent and other amounts owing under the lease before the liquidator’s appointment.  
• Personal guarantees under the lease can be enforced by the landlord during the liquidation. 
What does it all actually mean? 
Our experience of what actually happens and our tips for landlords about how to deal with the situation are these: 
• The insolvency practitioner appointed to the tenant contacts the landlord as soon as possible to say they’ve been appointed and “let’s talk”.  
• The landlord tells the insolvency practitioner the debt currently owing by the tenant under the lease for rent and other amounts, and provides the practitioner with a copy of the lease and proof of the debt. 
• It’s in the landlord’s best interests to work with rather than against the insolvency practitioner to deal with the tenant’s problems, which might include:  
helping the practitioner find a buyer for the tenant’s business in whole or part, and that buyer taking a new lease in the premises;  
if the lease is terminated and disclaimed by the insolvency practitioner, the landlord alone finding a new tenant to go into the premises as quickly as possible; or  
the landlord buying the tenant’s business or assets (eg fit out) from the practitioner and leaving the assets in-situ for a new tenant.  
• Subject to the terms of the lease, the landlord should call upon the tenant’s bank guarantee and take advice on whether any personal guarantee can be pursued as a means to recover the pre-external administration (or any other) debt owing by the tenant under the lease as soon as possible. 
• The landlord has rights as a creditor in the external administration, so should stay engaged and attend creditor meetings with the insolvency practitioner.  
• The landlord should be prepared to have some amount of rent forever unpaid by the insolvent tenant because an insolvent company’s debts are greater than its assets, and there’s only ever a finite amount of money to be split between all the tenant’s creditors.  
This article was produced by <a href="https://www.meyervandenberg.com.au" target="_blank">Meyer Vandenberg lawyers</a>.
</body></html>

Liquidators versus landlords: who wins?

<html><body>
The City of Sydney plans to relinquish or realign management of some of its property portfolio to deliver more affordable housing across the inner city and boost Oxford Street as a major business destination.
A report to be considered by Council recommends the City place several surplus operational and commercial properties on the market in 2017–2018.
This will result in more affordable housing units across the inner city and enable the City to meet the objectives in its 10-year capital works plan.
A second report recommends the City appoint a commercial partner to reposition three strategically located commercial Oxford Street properties for long-term lease.
The reports come with the impending closure of three City depots at Zetland, Redfern and Alexandria in conjunction with the opening of a new major southern depot at Alexandra Canal.
Operational properties proposed to be placed on the market include:
<ul>
<li>94–106 Epsom Rd, Zetland (Epsom Road Depot)</li>
<li>11 Gibbons Street, Redfern (Redfern Depot)</li>
<li>36 Gerard Street, Alexandria (Alexandria Depot).</li>
</ul>
If the report is adopted, the City will enter negotiations with affordable housing providers for the sale of the Redfern depot site, with the potential for more than 100 affordable housing units.
Commercial properties to be placed on the market include:
<ul>
<li>Stockton House, 73–75 William Street, East Sydney</li>
<li>545–549 South Dowling Street, Moore Park</li>
<li>90 Regent Street, Redfern.</li>
</ul>
Lord Mayor Clover Moore said commercial property was a major revenue stream, elevating the City to a strong, debt-free financial position.
“The strategic management of our property portfolio has enabled the City to provide some of the best parks, public spaces, facilities, infrastructure, events and services of any local government area in Australia,” the Lord Mayor said.
“The sale of surplus operational and commercial land will enable us to further invest in our City’s future, while helping to provide affordable housing in Redfern, which is so urgently needed now.
“Our commercial property portfolio generates more than $63 million of rental revenue each year.
"We’re looking to increase that revenue further to help meet the demands of our booming population.
“The Redfern depot has been earmarked as an appropriate affordable housing site for some time.
"The sale of this property will provide more housing options for key workers such as teachers, nurses, police, firefighters and social workers.”
Proceeds from the sale of 545–549 South Dowling Street will be set aside in the community properties reserve, given the building’s origins as a community activity centre.
The proposal to identify a partner for a long-term lease on three Oxford Street properties comes following two unsolicited proposals in late 2016.
The properties – located at 56–76 Oxford Street, 82–106 Oxford Street and 110–122 Oxford Street (both above) – have a combined lettable area of more than 12,000 square metres.
“These properties are in a strategic location and have enormous potential, but they need significant capital investment that would place a huge strain on the City’s financial resources,” the Lord Mayor said.
“We have a great opportunity to explore alternative opportunities with the private sector and secure a long-term lease, similar to the arrangement we have with the QVB and the Capitol Theatre.
“Late last year, we received two unsolicited offers on this site and we are keen to explore these options and look at ways to further revitalise Oxford Street.
“The realignment of these properties could prove to be the catalyst for the transformation of Oxford Street.
“Oxford Street isn’t the CBD or a suburban shopping centre. It’s been home to an eclectic mix of unique and independent operators for decades.
"Although it needs a financial boost, it must maintain its authenticity.
“We’ve made great strides with our Oxford Street creative spaces program, where 22 cultural and creative businesses pay low rent to use our properties.
"A key objective of this report is to integrate these cultural spaces into a future redevelopment.
“We want to find a commercial partner that shares our vision for a modern Oxford Street, harnessing all the positive elements of the retail strip’s past and revitalising these spaces for an even brighter future.”
</body></html>

Sydney Council to offload three depots amid big property selloff

<html><body>
The NSW government, which has a property portfolio of $134 billion, is seeking to improve the way it manages property through use of data and analytics.
The use of data to drive better performance is a key theme in a new report, Data Analytics in the Property Sector, which looks at how data is transforming the way property is created, built and maintained around the world.
Global cities such as New York and London are already using technology to collect data to plan and create buildings and public spaces that meet the needs of the community, it notes.
The report, released by Property NSW, encourages a broader rethink on ways the NSW government can better leverage data.
Research shows that 80 per cent of NSW residents surveyed support the government using its existing data to better inform decision-making on new services and better infrastructure.
It highlights a number of case studies on how the property industry is using data to better understand customers, tenants and users to improve planning, design, building and maintenance solutions.
The report suggests ways industry and government can work together to improve cities. 
For example, a public, open GIS-based service could be used to collect information from bank systems that process debit and credit cards and offered to a property developer to tell them about the sort of products that are popular in a particular geography.
It cites the example of Machvisor, in the US, an analytics tool that helps “real estate investors properly assess housing market conditions, price forecasts, risk metrics, demographic shifts and market fundamentals in any given neighborhood throughout the United States”. 
Property NSW CEO Brett Newman said the government owns more than 270,000 properties across the state, but “ownership is fragmented and data often sits in siloes across agencies”. 
“By improving the way we collect, distil and present our property data, we can ultimately deliver greater transparency and better outcomes across the portfolio,” he said.
As a case study of government initiatives in Australia, it cites the example of Land and Property Information (LPI) which made property sales information freely available for the first time via NSW Globe in September 2015 to help buyers and investors make more informed decisions when buying and selling property. 
Previously, anyone wishing to access this information had to purchase it from the LPI website or via a third-party provider.
Property NSW is collaborating with the NSW Data Analytics Centre on options to bring cutting edge changes to the way the state government manages its $134 billion property portfolio.
Dr Ian Oppermann, chief data scientist, NSW Data Analytics Centre, said the report provides insights on the way governments can use data to better manage their assets which is particularly relevant in NSW given the government’s significant and diverse property portfolio.
</body></html>

prateek24-ezbwHMbNAk

Property NSW report highlights use of data to improve asset management 

<html><body>
Property NSW today called for Expressions of Interest from the private sector to provide integrated property management services at NSW Government-owned property holdings in key Sydney Harbour precincts including The Rocks and Darling Harbour.
CEO of Property NSW, Brett Newman, said an outsourced, integrated contract to manage the property portfolio would deliver better value for the NSW Government and taxpayers.
“Engaging a private-sector service provider will deliver greater transparency, value and accountability across the property portfolio,” Mr Newman said.
“The private sector has a proven track record of delivering these services and we look forward to receiving proposals from the industry’s best operators.”
A core requirement of the new contract will be the provision of a best-practice technology platform, which will give Property NSW greater access to detailed data collection to help improve how the properties are managed and used.
The initial term of the contract is four years.
The heritage values of properties in the portfolio will not be compromised.
The move to a more efficient, integrated property asset management framework aligns with the principles of the Property Asset Utilisation Taskforce report in 2012.
The tender process will be conducted in line with NSW Government probity and procurement requirements.
The Expressions of Interest period will close in late June 2017 and be followed by a Request for Proposal from selected shortlisted parties. A preferred tenderer is expected to be identified in late 2017.
The tender documents are available <a href="https://tenders.nsw.gov.au/?event=public.rft.show&amp;RFTUUID=D6738E61-E6F2-8468-ACD7B8DC6D8A3E73" target="_blank">here</a>. 
</body></html>

EOI for property management services at key Sydney Harbour precincts

<html><body>
The Victoria government recently announced new renting laws enabling long-term residential leases for more than five years which it says will help renters “lay down roots” and give investors a steady source of income.
The new optional form agreement will be developed this year and made available in 2018, the government said in a news release.
But landlords and industry players are already sceptical.
Property mangers say landlords are unlikely to offer leases more than five years because personal circumstances are likely to change given such a long period, such as financial difficulties, job relocations or other family matters.
Even the Tenants Union of Victoria, which welcomed the changes, said longer-term leases may not be the best answer for more security for the growing cohort of Melbourne renters, according to a post in <a href="https://www.domain.com.au/news/victorian-government-announces-longterm-leases-but-do-landlords-and-renters-want-them-20170302-guoroa/">www.domain.com.au</a>.
The changes are part of the Residential Tenancies Act 1997 (RTA) and will include an online matching service for landlords and tenants who want to enter into long leases.
The government says families are the “most common renters in Victoria and there are many who are interested in a long-term lease to be able to lay down roots – to find a local job, enrol their kids in school and establish themselves in a community”.
The government said it is part of its Homes for Victorians housing strategy and supports the government’s Plan for Fairer, Safer Housing.
It says long leases will also benefit investors as they will have a steady source of income.
Long-term leases have formed part of broader consultation during the review of the RTA, which began in mid-2015 and still going on. The government has provided funding of $1.25 million over four years to support these changes. 
However, the Real Estate Institute of Victoria, which is working with the government on its tenancy review, said though it supported the change but it was unclear why the decision was taken in the middle of an ongoing consultation process.
REIV chief executive Gil King was quoted by Domain as saying it was more broadly concerned with how other parts of the review may drive up rents and force landlords to exit the market.
Yaelle Caspi, policy officer at the Tenants Union of Victoria, said the best way to improve security for renters would be to repeal no-reason eviction notices and provide increased protections from unfair and unnecessary evictions.
“We know that tenants want more security, but that doesn’t necessarily mean longer fixed-term leases,” she said.
Also, fairer processes for rent increases and limits on lease breaking costs was needed, added Caspi.
Nelson Alexander Ivanhoe’s Jason Pettit said demand for leases of more than five years would be extremely slim. It was difficult for landlords and tenants to know what their circumstances would be in 12 months, let alone five years, he said.
“If either parties locked themselves in for a period of that length, it could get them into more trouble than it’s worth,” Pettit.
“I’ve had tenants request leases for two or three years on occasion – more often than not, the landlords refused and preferred to just do the 12 months with recurring renewals.
“You can get relationship breakdowns, financial difficulties, job relocations and family matters – there’s so many different variables outside of just living in a property that could cause a move.
</body></html>

Property Management

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Property Management

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News