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Top 5 Tips for Selling Cars Online

Are you ready for an upgrade or just in need of some quick cash? Selling your car online is a free and easy process, as online listings are where many Australians look first when they’re ready to buy. Recent car news indicates that Australian consumers are just as likely to turn to private dealers online as auctions or car dealerships. Yet with thousands of used cars listed online, you’ll need to keep the following tips in mind to draw these potential customers in.

  1. Choose a Realistic PriceYou might already have a set price in mind that you want for your car, but it’s important to take the car’s reputation and age into account. Even cars with a low rate of depreciation will still only be worth 50% of their initial value after 3 years. You can check sources like Redbook to find out the potential range of prices your car is priced at in the industry, and read car reviews in Australia to find out more about your car’s reputation and rate of depreciation. This can help you choose a more accurate price point for your listing.
  2. List Features AccuratelyBasic information that any online listing will need to include is the vehicle’s make, model, and mileage. Yet you also have room to list all of the various features that make your car stand out, such as climate control, cruise control, air bags, and other amenities. When it comes to writing descriptions, remember that online listings are different from newspaper ads. You don’t need to use abbreviations due to a limit on the characters as you would in a newspaper. Many consumers today don’t know what these abbreviations mean, which is why they avoid newspaper ads and turn to online listings in the first place.
  3. Take Care with PhotosGreat photographs are your car’s best friend. Most online buyers will only skim the descriptions at first and are more likely to scan listings by the titles and photographs that they see. Advertisements without photos stand little chance against well-illustrated competition. If you’re taking your own photographs, it’s a good idea to shoot your car in even light. An overcast day will yield a better shot than bright sunlight, which can cause shadows and glare. Rather than shooting your car head on or from the side, it’s best to shoot it at an angle for the most accurate view.
  4. Be HonestIt’s tempting to make your car sparkle more on paper than it does in real life, but this isn’t fair to buyers and won’t garner you any more chance of a sale. Even with online listings, most buyers will want to see the car in person and potentially have it examined by a mechanic before making their purchase. Be up front with the maintenance records, modifications you may have made in the past, and any other pertinent information.
  5. Promote your AdWith your listing up and running, the next step is to promote it. If you choose a large online listings website, you’re already guaranteed to have a wide potential audience, but it’s also useful to promote your ad using your own social networks. Word of mouth can spread and ensure that you have a quick sale, potentially to someone you already know.

How to Profit from Renting Out Your Property

If you’re thinking of moving abroad for some time or are in need of a steady side stream of income, renting out your property can be a perfect solution. There’s a fair bit of competition in today’s rental market, so it’s important to ensure that your property is in top shape and that you’re ready to take on the responsibility of being a landlord. Keeping the following aspects in mind can help you get started.

Top Investment Locations

For those who plan on purchasing a home with rental income in mind, it’s crucial to research locations properly before making a purchase. It will be easier to rent your house if it’s in a well-travelled location, whether that’s in a seaside town or a major city. Popular areas like Katoomba in New South Wales and Middleton in South Australia are filled with bed and breakfasts and holiday rentals. Towns like Dromana in Victoria offer the best of both worlds, providing a seaside holiday within weekend commuting range of Melbourne. Real estate investments in Australian Capital Territory and Tasmania are also worth considering, as they are available at low prices.

Preparing an Existing Home

You don’t have to purchase a new property in order to become a landlord. If you already own a home, you can prepare it for long or short-term rental by meeting with a letting agent. You’ll need to reduce clutter and give your home a thorough cleaning, repairing any faulty appliances and ensuring that your house is in best shape from attic to basement. Start making a list of your home’s best features to use in the online listing. Renters today love clean, modern spaces, so it may be worth upgrading your home’s features with wooden floors and stainless steel kitchen fixtures.

Fees Associated with Rentals

Although you will see a steady return on your investment in the form of rental income, there are some start-up fees that new landlords need to think about. You can rent your property using a letting agency, which will incur fees, or use an online listings site and draw up your own agreements. Further fees to consider include the cost of incidental repairs and maintenance, council tax, water and sewerage charges, and professional cleaning in between tenants. You may need to purchase additional insurance that offers landlord protection against malicious or accidental damage by a tenant and legal liability costs. Land tax may also be applicable in some circumstances.

Choosing a Tenant

Finding tenants is one of the first actions you’ll need to take as a new landlord. You can post your property on online listings sites, place newspaper ads, and spread the word amongst friends and relatives. Although it’s tempting to rent your home to the first tenants that turn up, it’s worth your while to be selective. The ideal tenant will keep your home in good condition while you’re not there and will be able to pay the rent on time, saving you a lot of stress. Ask for references and run a credit check as part of the screening process. With their basic background information cleared, you can ask for a security deposit and write up a lease.

Although renting your property out can involve a bit of time, money, and paperwork, it can be a consistent source of income on top of the equity and other benefits that owning real estate provides.