Real Estate News


Rental Minimum Standards - Changes Effective 29 March 2021


DOWNLOAD INFO BOOKLET Under the new rental laws, rental providers (landlords) must ensure that their rental property meets certain minimum standards. The minimum standards cover basic but important requirements relating to amenity, safety and privacy, and rental providers owe a duty to ensure their property meets these standards. The minimum standards apply only to rental agreements signed on or after 29 March 2021. What are the rental minimum standards? All rental properties must comply with the rental minimum standards listed below. There are 14 categories: Door Locks All external entry doors to the rented premises which are not able to be secured with a functioning deadlock, other than any screen door attached to an external door, must at least be fitted with a locking device that: - is operated by a key from the outside and- may be locked from the inside with or without a key This does not apply to a front door that opens to common property (e.g. entrance to an apartment buildin...


Want more money in your back pocket?


  There is no questioning that one of the largest expenses many of us face on a monthly basis is the payment of our mortgage - whether it's your principal place of residence or your investment portfolio. To take a moment to sit down and actually reflect on how much money we pay to the banks in interest can be overwhelming, but there are ways you can reduce your interest payments and put more money in your back pocket.   Have you taken the time to strategise how you can save money on your mortgage payments? There are a number of ways that you can achieve this, which can result in $1000s in savings each year:    1. Increase the number of mortgage payments made within the month. This is one of the easiest ways to reduce your interest payments and fast track owning your property sooner.   2. Pay a little extra than the minimum requirement. It doesn't have to be a large additional sum. Maybe consider paying $700 instead of $675.   3. Pay your wa...


Scott Pape's Advice for First Home Buyers


Property prices are getting juiced because of low interest rates.And the Reserve Bank has said they’ll keep rates at (basically) zero for at least the next three years.Here’s how this is playing out in the real world.Greater Bank has a one-year fixed home loan rate of just 1.69%!The lowest on record.At the same time, the average rate on a bank savings account, according to Mozo is just 0.18%!Also the lowest on record.In other words, right now property prices are at record highs and are rising faster than most people can save. Which is great for people like me who own property, shares or other assets. Yet it’s absolutely horrific for anyone starting from scratch, trying to save and scrounge up a first home deposit.So, what to do?Well, there’s all kinds of advice people will try to give you:Ranging from the practical (save a 20% deposit, take a long view) ...To the patronising (buy out in Woop Woop and sit on milk crates for a few years) ...To the pathetic (&ldquo...


MSFIN Christmas Food & Toy Appeal - Pennisi Real Estate Essendon Collection Point


This year the Pennisi Real Estate Essendon office is taking donations on behalf of volunteer run Victorian charity, Mums Supporting Families in Need Inc (MSFIN).   MSFIN was started with a big heart and a simple idea - the idea that as a community, we can ensure no family is living without their basic daily needs being met, and that no child goes without essentials. You can help MSFIN achieve this goal by making a food or toy donation at our office (255C Keilor Rd, Essendon) on the following days... Sunday December 13th 10am – 2pm Monday December 14th 2pm – 6pm What to Donate Long Life Food Cereal Long life milk  Tea Coffee Tinned spaghetti  Tinned baked beans  Savoury biscuits Sweet biscuits Festive food/treats Pasta  Pasta sauce 2 minute noodles Rice Tinned vegetables Tinned protein (salmon/tuna) Tinned tomatoes Side dish – instant pasta/rice dishes Tinned or packet soup Savoury snacks (chips/BBQ shapes etc.) Tinned fruit ...


Roving Refills & Rhys.Pect.Food Popup at Pennisi Real Estate Essendon


The Pennisi office is exploring ways in which we as a local business and individuals can reduce, reuse & recycle resources to minimise our environmental impact. Pop along to the Pennisi Real Estate car park on Monday December 14th between 2pm - 6pm and refill your empty containers for a weigh-and-pay price with eco-friendly, cruelty-free & ethically sourced products, including… Detergents & Soaps Shampoos & Conditioners Disinfectants & Cleaning products Pantry supplies By refilling existing containers we're eliminating the need to buy new plastic products and saving waste from landfill. The businesses joining us are… Roving Refills Inner North The mobile refill station helping North Melbourne residents reduce their plastic waste by refilling used containers and glass bottles with eco-friendly cleaning, cooking, bathroom and pet products. Rhys.Pect.Food A minimal waste mobile pantry offering high quality ingredients like flour, spices, fruit & nu...


The Mystery Equation Behind Misleading Auction Clearance Rates


The decision of if, how and when to sell is always a difficult one, but today’s market presents challenges that sellers have never encountered and while no one has a crystal ball, there is some sound advice to consider when it comes to selling your home, particularly during a global pandemic.     In an article published for News Corp Australia Network in August last year, property guru, Andrew Winter, gave expert insight on how to achieve the best outcome when selling your property. Despite what most vendors would assume, Winter, warned of the perils of going to auction, saying “an auction is categorically not the best way to sell your home”.   “It can put unnecessary and artificial demands on you as a seller and place you in a precarious and highly stressful all or nothing situation,” the article sites.   With 30 years of experience in real estate, Winter went on to say, “there is an intense focus on the Sydney and Melbourne auct...