The Property Pineapple - Nino Palmiotto

Performance Property Data

“We typically favour rental applicants who make it easy for us.”

Nino started in the property industry almost by accident. After finishing high school, he wasn’t sure what he wanted to do, so took a casual job in his uncles’ real estate agency. He assisted the property manager, and soon fell in love with property management. Fifteen years later, he is a department head for the property management firm, Pathway Asset Management.

Nino believes that it is important that property managers know and understand the property investment market. He was amazed at how little he knew when he first started out, but most of the learning needed can only be done on the job.

Understanding the market is the surest way a property manager can advise their clients to make smart choices. Choosing the right location is very important, with blue-chip suburbs with a history of good performance being the best options. Properties near public transport, shops, schools, employment, and other infrastructure would be wise choices. Potential investors should also strongly consider the type of property, and whether renters will wish to live in it.

To that end, Nino shares one of his own investment experiences, a converted warehouse apartment in the Sydney suburb of Marrickville. In making this purchase, Nino started off by establishing how much he could afford and how much he could borrow. He then did his research, targeting areas he could afford as close to the CBD as possible. He arrived at Marrickville, an up and coming area, in a stage of gentrification, with good public transport options, and within his budget.

Since that purchase six years ago, Nino’s Marrickville apartment has increased in value by just over 50%. Adding to that positive capital growth are the strong rental yields Nino has had due to the apartment barely being vacant and in a sort-after suburb. He is not considering selling, however, with the place a good option for his son or as a leverage asset to increase his portfolio.

Popping his property managers hat back on, Nino opens up about the three questions owners should ask prospective property managers. These are about the experience of the property manager with investment; the number of properties on the manager’s books; and what the turnover of staff is. The answers to these questions will help owners determine whether the property manager will have the expertise, knowledge, time, and longevity to be competent and successful.

Nino continues with his advice for property owners, this time in relation to how best to advertise for renters. Presentation is key, and professional photographers should be hired to ensure the property looks its best in any marketing material. He also encourages owners to consider renters with pets. People with pets know how difficult it can be to find a rental that allows their four-legged family, so they will value highly the lease.

Nino finishes with some tips for potential renters, top of the list being to make it easy for the property management team. Renters should ensure they are providing all required information, including payslips, bank statements, identification, and rental ledgers. If renters can limit the amount of work the property manager has to do, they will be favoured in their application.

About Sharon’s guest, Nino Palmiotto

Nino Palmiotto is a licensed Real Estate Agent and studied a Diploma Of Business and Real Estate Management. He has a broad, in-depth understanding of the greater Sydney rental market, a result of 15 years experience in the property industry. He has managed properties across the Sydney metropolitan area and across a wide range of lifestyle spectrums.

Nino inspires great confidence in his clients with a mature businesslike approach and extensive experience in the rental market. Nino is always willing and completely committed to going that extra mile, in delivering the best possible customer service experience.

About your host, Sharon Taylor…

Sharon heads up the research division at Performance Property Advisory. She is responsible for the aggregation of economic and property data sources, as well as deep analysis of the data to provide quarterly reports on each capital city of Australia.

These reports identify between 5 and 8 submarkets in each capital city, and provide an opinion as to the short term performance of each submarket. This information is vital for clients to maximise the performance of existing assets, and also for selection of new blue-chip investment locations.

‘The Property Pineapple’ is one of three segments you will hear on the Performance Property Data podcast. Released every four weeks, and hosted by Sharon Taylor (Research Analyst - Performance Property Advisory), the show presents listeners with stories from real investors, discussing their wins and admitting their losses.

‘Property Insiders’ are also released every four weeks and are conversations between David McMillan (Director Acquisitions - Performance Property Advisory) and industry leaders offering knowledge and expertise.

And ‘Performance Insights’ are released every Wednesday and Friday, giving you technical information and the lowdown on key property markets around Australia.

For access to exclusive insights and offers, become a member of the community at www.performancedata.com.au