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					    Mar tp Apr 09
                                   MEA News
    A Word From the               Don’t wait until it’s too late!
                                  There would be few among us                     tenant defaults on their rent
                                  that do not know someone that                   or leaves without giving the
                                  has become an innocent victim of                correct notice
                                  the current economic crisis                    Up to 6 weeks if your
                                  sweeping the world, whether it be               tenant is allowed by the
                                  the loss of a job, a reduction in               courts to break their lease
                                  work hours, or an affected                      due to hardship
First of all we would like        business. In many cases even                   Up to 52 weeks if your
to take this opportunity to       when someone finds a new job it                 tenant refuses to leave the
wish you a safe, relaxing         is at a substantially lower income              property and denies you
and joyous Easter with            than they previously enjoyed.                   access
family, friends and loved         This is occuring throughout                    Up to 52 weeks for
ones                              Australia to friends and family                 Prevention of Access that
                                  alike. A few facts:                             is no fault of the owner or
We would also like to                  More than 44,000 full time                the tenant
welcome Kerry Stacey                      jobs were lost in Australian           Nil excess on loss of rent
who has recently been                     in December 2008 alone                  claims
appointed as a Property                The current 5.2%
Manager. Kerry brings                                                            Up to $20 million dollars of
                                          unemployment rate is                    Legal Liability cover
with her years of
experience and we
                                          predicted to rise as high as           Up to $50,000 for tenant-
                                          8% in 2009-03-23                        related damage or theft by
believe she will be a great
                                       ASIC figures show that                    the tenant
asset to our Property
Management team.
                                          2,671 companies filed for              Up to $50,000 cover for
                                          insolvency in the last three            defind events for “contents”
                                          months of 2008                          which may include carpets,
Finally we would like to
congratulate our Property                                                         curtains, blinds or light
                                  Unfortunatley tenants (regardless               fittings.
Management Assistant
                                  of how stable they have been in
Maria Marian and her
                                  the past) are not immune to these      Features for defined events for
partner Shaun who will be
                                  cold hard facts, and the realty is     contents include: fire or explosion;
expecting their first child
                                  that what affects them is likely to    storm or rainwater, lightening or
in late June.
                                  affect you.                            thunderbolt; earthquake; impact,
                                                                         fusion; theft or malicious act by
                                  Among the most prolific policies
In This Issue:
                                  on the market are EBM’s Rent
                                                                         intruders; water damage by burst
                                                                         pipes or overflowing of fixed
                                  Cover Ultra Platinum (combined         basins.
      Don’t wait until its too   Building, Contents and Landlord        There are many more features,
       late!                      Insurance at heavily discounted        further details and Product
                                  prices), policies that currently       Disclosure Statements can be
      How to Help Your           protect tens of thousands of
       Adult Children Own a                                              obtained via
       home                       owners all over Australia.    or by
                                                                         calling 1800 661 662
      Hot Properties             The cover with Rent Cover Ultra is
                                  extensive however here a few                  Article written and supplied by EBM
                                  features:                                                       Insurance Brokers
                                      Up to 6 weeks if your
         How to Help Your Adult Children Own a Home!
  With housing affordability at a 23 year low, the next generation is very pessimistic about the prospect of
  owning a home. With this in mind, many families are now looking at ways of assisting their children to enter
  the property market.
  For many, the financial help is an informal agreement, which can be risky. Let’s assume you lent your son
  $30,000 to fund a deposit on a unit, with a verbal understanding he would pay back the money at a later
  date. Some months later his girlfriend moves in, but two years later the relationship ends. As a de facto of
  more than a year’s standing, she could lay claim to a percentage of the property – and your $30,000 could
  disappear in the process.
  Here are a few tips to consider when helping your children
      Utilise the equity in your home.
        Have a mortgage over the property showing you are owed money. This can be the strongest form of
         security and your best protection.
        You can have a loan agreement as well as a caveat on the property. Either way, you need a clear,
         well-documented money trail.
        You may choose to buy the house with your child, which also provides you with an investment
         property. However, you will be liable for capital gains on your percentage of ownership upon a sale.
         Documentation is a must – you may not be squabbling with your child now, but who knows what
         may happen around the corner? A possible downside to this arrangement is your child may not be
         eligible for the first homebuyers grant. Another way to help is to pay for the expenses associated
         with buying a home.
        You may help avoid your child paying mortgage insurance by going guarantor for 20% of the value
         of the property. Or you may guarantor the entire value of the property. Remember though, a
         guarantor has been described as “a fool with a fountain pen”. Having said this, some banks will offer
         products that limit the liability for parents going guarantor to help their adult children. You should
         enquire with a few banks to find out what they can offer.
  One of the simplest ways of helping your child is to let them stay at home and save money! It is also
  important that you discuss with your children the importance of budgeting and becoming financially savvy.

                                    Hot Properties
       COODANUP                                          MEADOW SPRINGS
   10 Veresdale Retreat                                  68 Oakmont Avenue
         $299,000                                             $399,000

                                                                                        HALLS HEAD
                                                                                    139 Peelwood Parade
Debbie Ratcliff 0408 035 854                         Tanya Powling 0434 428 415
                                MEADOW SPRINGS
                               10 Cherry Hills Retreat

                                                                                 Tanya Powling 0434 428 415
                             David Unwin 0419 013 637