ABOUT LIN ANDREWS REAL ESTATE

GREETINGS FROM THE FOUNDING DIRECTOR

Lin - Photo

Lin Andrews, Founder and Group Chairman, shares……

“Our Group history goes back to 1969 when my wife (Bunty) and I sat one Saturday night free from socialising. We paused to consider our privileges….

Our questions… “How can our lives make a difference?” That night we resolved to do something very bold!

At the time of these decisions, South Australia was implementing its Development Act 1967 – 1972 and talking a lot about tourism.

We built holiday flats at West Beach and then at Grange. These were followed by an office building, a warehouse and several homes.

During those first years, we invested and established a number of companies in diverse industries but always achieved our greatest satisfaction in the property industry.

We became agents as well as developers!
As agents we had a passion to assist people who were not generally trusting of Real Estate Agents. Our Agency business grew disproportionately to our other activities… possibly because we really liked helping people.

Most people lacked confidence in their ability to invest in the future.
People were disillusioned with the repetitious collapse of other investment schemes which rose to prominence from time to time.

We resolved to assist people to own their own real estate.
Investment seminars and excellent property management services made this possible.

These residential investments became a store of wealth to investor clients and provided accommodation for those who needed a home to rent.
At a later date we added commercial property to our skill base.

Commercial property meets the needs of entrepeneurs who grow businesses and create employment.

It may also offer a higher rate of cash flow to investors who are dependant upon their rental income.

Today we facilitate employment and accommodation across an increasing number of communities, throught the provision of property management, sales and leasing services for a diverse range of residential and commercial property.

We also design and develop commercial property according to community needs.
I am increasingly convinced that principle centred economic activity is the way to meet the sustainable needs of every community. We are proud to be a part of this great economic solution.”

MEET OUR TEAM

Directors

Commercial Sales & Leasing

Commercial Property Management

Residential Sales

Residential Property Management

OUR STORY

building4

Lin Andrews, Founder and Group Chairman, shares……

“Our Group history goes back to 1969 when my wife (Bunty) and I sat one Saturday night free from socialising. We paused to consider our privileges….

Our questions… “How can our lives make a difference?” That night we resolved to do something very bold!

At the time of these decisions, South Australia was implementing its Development Act 1967 – 1972 and talking a lot about tourism.

We built holiday flats at West Beach and then at Grange. These were followed by an office building, a warehouse and several homes.

During those first years, we invested and established a number of companies in diverse industries but always achieved  our greatest satisfaction in the property industry.

We became agents as well as developers!

As agents we had a passion to assist people who were not generally trusting of Real Estate Agents. Our Agency business grew disproportionately to our other activities… possibly because we really liked helping people.

Most people lacked confidence in their ability to invest in the future.

People were disillusioned with the repetitious collapse of other investment schemes which rose to prominence from time to time.

We resolved to assist people to own their own real estate.

Investment seminars and excellent property management services made this possible.

These residential investments became a store of wealth to investor clients and provided accommodation for those who needed a home to rent.

At a later date we added commercial property to our skill base.

Commercial property meets the needs of entrepeneurs who grow businesses and create employment.

It may also offer a higher rate of cash flow to investors who are dependant upon their rental income.

Today we facilitate employment and accommodation across an increasing number of communities, throught the provision of property management, sales and leasing services for a diverse range of residential and commercial property.

We also design and develop commercial property according to community needs.

I am increasingly convinced that principle centred economic activity is the way to meet the sustainable needs of every community. We are proud to be a part of this great economic solution.”

PUBLICATIONS

As I write the Lin Andrews Newsletter for the month of September I have been watching the yellow early morning sunrise, piercing its way through the black-bark gums adjacent to my country home. The mirror surface of the river reflected the image as if I were witnessing the dawn of two days contemporaneously.

I found myself in love with life all over again! Spring all around! Life, colour and a new day!

The apricot tree is covered in outstanding blossom. One of the plum trees is just as beautiful… and yet in contrast is the adjacent plum and the peach trees… still totally denuded.

The air is still and chilly, yet last evening there was the gentlest warmth in the air. The harshness of the evening chill, moderated by something softer, enticing one to sit for a moment or two longer. The mood of the approaching Spring.

I decided that life is for living… I marvelled that my bulbs which are buried and invisible, could suddenly look so beautiful as their daffodil heads waived gently and seemed to be saying, “Look at me… I have flowered just to brighten the corner where you planted me… and to excite you at this moment of your life!”

And yes… I will trust and do good… every day of my life… and add colour and excitement to everyone I meet… if I may?

REAL ESTATE – NEWS RESIDENTIAL

I am pleased to report that our staff enjoyed good business conditions in South Australia during the month of August just past.

Winter is always a little gloomy with cold and wet compared with the brightness and sunshine of the warmer months.  Despite these natural winter woes and despite the drought conditions highlighted in two of our Eastern States, South Australian Real Estate performed very well… at least for Lin Andrews related companies… and we presume also for our peers.
Prices in South Australia are very affordable and we urge clients thinking of investing in property to act now, before confidence rises further and prices escalate… at a rate faster than one can save a deposit.

Residential leasing was active and stable this month.

My staff reported the availability of quality tenants. This is encouraging as we expect a turn-a-around of people, who will return to South Australia instead of leaving.

Our residential managers have enjoyed refreshing growth in both numbers of properties managed and in rents being achieved.

REAL ESTATE – NEWS – COMMERCIAL MANAGEMENT

Our Commercial Division is enjoying consistent growth!

The number of properties under management is increasing and the average rent per property is rising.

We have observed people shifting their investment money from Shares into property, provided they are satisfied that Commercial Property management is seamless… that they do not have to be too involved with their property themselves.

This is very pleasing to our staff as they are each professional managers in their own right. They will do the management well… and forward the property income to the owners at the end of each month.

Debbie Turk has been a commercial property manager and asset manager within Government and the Private Sector for several decades. As one investor put it to me, “Debbie deals fairly with every-one, but if a tenant does not have the discipline to meet their monthly commitments, then Debbie will find a tenant who appreciates the property and meets their commitments on time”.

Another said, “Of course slack tenants don’t like her, but I as a Landlord who must meet his bank commitments every month, I LOVE her”.

These comments say it all really!

Professionalism doesn’t stop with undisciplined tenants!

Landlords may also be unfair in meeting their obligations!

Another Commercial Manager analysed the amount of time taken to debate maintenance matters with a long standing, low fee investor. Five properties had for years not been maintained correctly because the Lessor refused to spend the money.

This newly appointed Commercial Manager, was tired of defending the stubborn, tight-fisted attitude of the Landlord and decided we should not have these properties on our books. His request, “Please assist me with getting these properties up to scratch, but if the owner will not comply, may I have your consent to give notice for that landlord to pick-up his/her files”?

It was agreed!

Our new,  but very experienced Commercial Asset Manager cancelled the Management Agreement!

The properties had not been correctly maintained and the owners were true to their character and refused to meet their reasonable obligations.

We did not want to lose five properties out of our management portfolio, BUT, there was a certain peace in our office.

This Commercial Manager had stood for a principle of fairness between the Landlord and the Tenant. He exercised discipline and dealt with a matter that should have been dealt with years earlier.

Maybe these are amongst the reasons our portfolio management is growing!

REAL ESTATE – NEWS – COMMERCIAL SALES

Our Commercial Sales Division is experiencing large contracts to local Property Syndicates.

Syndication means that several investors or families set-up a Property Trust comprising themselves and friends or acquaintances.

They pay-in a sum of money each and borrow the balance from the bank.

Syndication is becoming increasingly popular as South Australian investors become more sophisticated in understanding property investment options.

Each month we are seeing higher sales per transaction and longer term stable leases.
South Australia will benefit enormously from the re-investment of capital accumulated by its own residents. Confidence and knowledge by people in their own State!

South Australia has always been a great place in which to invest.

Adelaide is the 5th most liveable city in the world. Where else would one want to invest.

Security and stable prices add to a sense of well-being!

Our Commercial Sales people have been very busy negotiating between vendors and purchasers . Each party to a contract has a personal objective, but deserves the time and intimacy of thoughtful discussion as to options and outcomes.

The very best outcomes are achieved through empathy, knowledge and a non-threatening environment. Our staff are often better equipped to meet these requirements than others with a different paradigm.

This month we have been reminded of the basics of commercial investment.

  1. How long is the lease?
  2. How secure is the lease?
  3. Is the lease guaranteed by people of substance?
  4. Is there a bank guarantee available?
  5. If the property becomes vacant, how long would it take to find another tenant?
  6. What is the profile of a replacement tenant and why?
  7. Is there ability to subdivide into smaller multiple tenancies?
  8. Property plant & equipment –  it’s condition and maintenance?
  9. What are the real characteristics of the property being purchased?
    a. Car parking – on street?
    b. Car parking – off street?
    c. Car parking – on site?
    d. Public Transport?
    e. Staff access?
    f. Client access?
    g. Value of site versus value of site and capital improvements?
    h. Future development appeal of  this site?
  10. Rent payable?
    a. Ground Floor rate?
    b. Upper and lower level rates?
    c. Car park rates for on-site parking?
  11. Prominence and exposure of building?
  12. What is the rate of return, on an investment at various prices?
  13. Rent review dates and amounts… E.g. Fixed rental increases, review to market, CPI based,  even fixed percentages are becoming very common

These are some of the matters which determine the price and desirability of an asset.

The person or agent selling your property must have empathy with both vendor and potential purchasers in freely discussing these matters.

Great sales consulting… with empathy… and with knowledge… will bring the best possible results for both vendor and purchaser.

Great long term results is no accident.
Note our Commercial Sales Team photographed below – talk to them – talk to the writer if you choose!

FINAL MESSAGE

The number of persons crossing the line into retirement is growing daily. There are lessons to be learned as we talk to these people.

Only 18% of Australians are financially independent at age 65 and over. This is 4.5 million people.

Last year $47 billion of our taxes  were paid to pensioners.

It has been my personal ambition to encourage people to invest wisely in property so as to have financial independence later in life… or earlier if at all possible.

I have had limited success. Many of our investor clients had few if any real assets when we first got together. Many are now quite independent.

Time runs out for some of us who are way past a recognised retirement age… but Lin Andrews Real Estate will continue to press the message that wealth creation is the result of wise, long term, consistent investment in property.

A combination of rents receivable plus capital gains will do it for you. Tax privileges may provide an extra encouragement.

 

If you would like to get in contact with us, you can email us at linandrews@linandrews.com.au alternatively you can phone our office on

(08) 8234 1212

CONTACT US TO ENQUIRE ABOUT OUR PROPERTY MANAGEMENT PROCESS TODAY