Nine tips to nailing your new job

Starting a new role can be a little daunting….

A new team, a new office environment and sometimes, a whole new industry to learn.

Setting yourself up for success is important, and we have some tips for you, to ensure you nail the first months in your new role.

  • Act as though you’re still being interviewed

    Well done on landing the new job! Its natural to feel a sense of relief after receiving the offer, but keep in mind that you’ve talked the talk, but haven’t yet walked the walk! Think of your first thirty to ninety days as an extended interview. Show up every day thinking you need to prove you deserved to be hired. You’ll work harder, work smarter, won’t take anything for granted… and in short order you will prove you belong.

  • See your manager as a person you help, not a person who tells you what to do

    Your manager hired you for your skills and attributes, they believe that you can do the job so now its up to you and get in there and help them get it done! Look to your boss as someone you can go to for help, not someone that has to tell you what to do. This will strengthen your relationship and will help you be a team and work together. Plus you’ll find it’s a lot easier to work hard when you feel you’re helping someone instead of obeying them. And you’ll enjoy your work more too – it’s a lot more fun and an infinitely more rewarding to help than to comply.

  • Build relationships based on performance, not conversation

    Great companies with great cultures welcome new employees to the fold. Other employees go out of their way to meet and get to know you. That’s awesome, but work still involves work, not just conversation. Be nice, be friendly, be yourself – but always remember that the best working relationships are based on respect and trust, and respect and trust are based on actions and performance, not just on words. Prove yourself. Pitch in. Help out. Follow through. Meet every commitment. Earn the respect and trust of others and you will build truly great professional relationships. And you’ll build some great friendships, too.

  • Go the extra mile early – and often

    Early on you probably don’t have all the skills you need. You probably don’t have all the experience. You probably don’t have all the contacts and connections. But you can have the willingness to work extremely hard. Work hard and everyone around you will forgive a certain lack of skill and experience. They’ll know you’re trying – and sometimes, at least for a while, that’s all that matters.

  • Spot the high performers and mimic them

    Every organisation is different, which means the key attributes of top performers in those organisations are different, too. Maybe the top performers work more – or different – hours. Maybe relationship building is more important than transactional selling. Maybe flexibility is more important than methodology. Pick out the top performers and study them. Figure out what makes them tick. How they approach problems. How they make decisions. There’s no need to reinvent the high-performance wheel; save that for when you are a top performer and want to go even further.

  • Think three moves ahead

    Think about where a task might lead you. Think about how you can leverage your current responsibilities. Think about what skills you can learn, visibility you can gain, connections you can build… every task, every project, and every job can lead to a number of great possibilities.

  • Find a way to stand out

    Work hard to be known for something specific. Be known for responding more quickly or following up first or always offering to help before you’re asked. Be the leader known for turning around struggling employees or creating the biggest pool of promotable talent or building bridges between different departments. Pick a worthwhile mission – one that truly benefits the company and other employees – and work to excel at that mission. Then you’ll stand out in the best possible way.

  • Find people to help

    You’re new. People are supposed to help you, right? Right. And wrong. You can start helping people now. If you see someone struggling and you don’t know what to do, say, “I’m new so you may have to tell me what to do… but I would love to help you.” If you’re in a meeting and someone else was assigned a seemingly overwhelming project, stop by later and ask if you can help. Even if you’re not taken up on it, the offer will likely be appreciated.

  • Never forget why you were hired

    Yes, you want to learn and grow. Yes, you want to build a career. Yes, you want to feel happy and fulfilled. And yes, you were hired to help advance the goals and mission of the company. It’s possible to fulfil your goals and the company’s goals. Make sure you do. That way you and the company win – and isn’t that what the employer/employee relationship should be all about?

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Are you guilty of any of these top 5 property marketing sins?

Are you guilty of any of these…..

1) One image advertising

For almost all properties a minimum rule of 4 photos should be adhered to. Front, kitchen, living area and main bedroom as a minimum, with a recommendation of bathroom, as well as back shot for freestanding homes.

2) Poor quality photography

Bad lighting, messy home, reflections of you in the mirror, poor angles, all there fall under the do not do category. In 2018, professional photography is more reasonably priced than ever before, and this is an investment in getting a better rental return, so you should never be afraid to ask the landlord to invest in photography.

3) No inspection instructions

The best performing rental properties online have easy to follow instructions on how to register for inspection, or advertised open home times. People are busy, and in many marketplaces there is plenty of competition when it comes to available property, so making it simple for a prospective tenant is a must do.

4) Short or vague advertising copy

Your ad copy should include all important details as well as painting a picture of the lifestyle a tenant could expect to enjoy should they be the successful applicant on the property. Don’t forget to be very clear about the available date, and important aspects such as available lease term and pet considerations.

5) Recycling Blunders

When it comes to the environment, I am all for recycling, but if you are recycling copy on your properties, please make sure all details are still current. Make sure that if you are borrowing a sales ad that your office used when selling the property, that all references to land size, development potential or renovators dream are removed. When re-letting a property, look out for references to particular seasons (i.e. move in before Christmas) or and additions or exclusions that may need to be adjusted in the add (i.e. air conditioning installed, heating changed from gas to ducted etc)

If you could benefit from a quick health check on your property marketing, email us to get a free copy of the Real+ Advertising Copy Guidelines. 

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Are you getting enough out of your day?

The conversation in 2018 (and for the best part of the last 5-10 years or more) goes something like this:

“Hi, how are you?”

“Good, busy, how are you?”

“Oh my god, soooooo busy!”

Our lives and careers have turned into an eternal competition for a badge that reads “Busiest person of all”.

Somewhere along the way we all got lost.

Imagine next time someone asked how you are, instead of telling them “busy” you were able to say “I’m so efficient, I really feel I get the most out of every day”. Okay so maybe that is taking it a little too far, but I challenge you, for the next two weeks, consider whether you are busy being busy or whether you could make better use of your time.

Ideal weeks, daily task lists, weekly, monthly, quarterly and annual portfolio plans are all tools that can assist you in getting the most out of your day in the faced paced world that is PM. But before you can identify where you can make improvement, you first need to look at where your time is going and only then can you focus on how to improve.

If you feel some help with time management, email us and we’ll will send you a weekly time tracker. Keep track of your time, for a minimum of two weeks, then sit down with a highlighter and highlight which tasks are not adding value to your day or your clients and how you can reduce or eliminate them.

And don’t miss our Time Management Webinar Series

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Make the Most of Your Technology

Every year, often close to end of financial year the business will take stock and analyse the business spend, looking at every subscription, every invoice and confirming that there is return on investment for the outlay. 

Technology often comes under the microscope as we try and justify the outgoing dollar and also seek to understand the relevance and benefit of the initial implementation. 

In my experience, in most cases offices are only using  30 -40% of the functionality available, although paying 100% of the fee to the supplier.  How many times have we heard “oh we have that system, we don’t use it very well though” or “we would love to do that – just need to update our data”. 

There are a few steps listed below on how to review and plan to make the most from your technology. 

1. Survey

Send a quick survey around the business asking your team to list all the applications, hardware and software that they use or have installed on their laptops, phones or tablets and the main function. Also, ask for a quick rating on the percentage of functionality used and a relevance rating to helping the individual achieve their targets.

2. Understand Why

Why was the hardware/software purchased originally and who was the decision maker. You may find that no one is really sure of the benefit or the driver of the tech may no  longer work in the business. There may also be benefits that you were completely unaware of or an opportunity to streamline that hadn’t yet been made obvious.

3. Allocate a champion

From the survey results look at the person most invested in the tech and appoint them as an application champion – their task now is to investigate the purpose, the opportunity and gauge the current use, it is important to provide the opportunity for them to present to the team so that collectively they can make a decision on whether to invest or make the project redundant.

4. Project proceed!

If the decision is to proceed the “champion” can now delve deeper into the business benefits teaming up with the supplier to develop a renewed implementation roll out and training plan.  Short sharp ongoing training sessions which will engage the team and allow them to learn and implement and see ongoing benefit.

This purpose of technology is to enhance your internal processes providing seamless workflow and time saving opportunities – however the technology is only as good as the driver and needs to be embraced, nurtured and constantly reviewed. 

Empower a tech champion for each application and encourage them to stay close to the provider updates to ensure you are receiving value for money.

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The depreciation rules may change but the goal is the same

by Real+ partners BMT Tax Depreciation

Those considering purchasing an investment property will often ask whether a commercial or a residential property will provide them with more deductions in the form of depreciation.

There are many important factors an investor needs to be aware of when making their choice between these two investment options.

Types of depreciation, how the rules change

Depreciation deductions apply to investment properties in two ways. Deductions can be claimed for the depreciation of the building structure known as a capital works deduction, and for the plant and equipment assets* contained within the property.

In a commercial investment property, the commencement date the Australian Taxation Office (ATO) allows investors to claim the available capital works deductions, (structural items such as the bricks, building and roof) is the 20th of July 1982. While in residential properties, capital works can only be claimed for properties in which construction commenced after the 15th of September 1987. Depending on the age and type of building, you can claim either 2.5 per cent or 4 per cent annually of the property’s historical construction cost for the capital works allowance.

The deductions for plant and equipment assets contained in both residential and commercial properties will depend on the individual effective lives of each asset as set by the ATO. In the case of residential properties, it also depends on the purchase date of second hand properties*. However, the ATO does deem that some assets used in one commercial industry may depreciate at a higher rate than they would in a residential property or even a different commercial industry. One example of an asset which does this is carpets, which will depreciate at a higher rate in restaurants and pubs than in retail office buildings or a residential dwelling.

In commercial properties, tenants can also claim

In commercial properties, the ATO makes allowances for the tenants to be able to claim some depreciation for assets. Commercial tenants are able to claim depreciation on any fit-out they add from the starting date of their lease. This can include assets such as desks, blinds, shelving, carpet, vinyl, fire fighting equipment and security systems. If a commercial tenant removes items at the end of their tenancy and disposes of the item, they may also be able to claim the remaining depreciation for assets removed and scrapped when they vacate the property.

If the owner of the asset decides to on-sell items installed or keep them for future use, this does not apply. In cases where items are on-sold the tenant should always discuss this with their Accountant as this may have other tax implications. It should also be noted that commercial building owners are also entitled to claim depreciation of assets installed and left behind by a previous tenant once a tenancy has ceased, so it is important to contact a Quantity Surveyor to ensure that each party makes their claim correctly.

Rules about claiming and occupancy of the property

Legislation from the ATO states that a residential property owner cannot claim depreciation for a building they themselves solely occupy. They can only claim depreciation on a building that is income producing.

In a commercial property however, there are ways that the owner can occupy the investment property and still be able to claim depreciation. For example, if the property is purchased by a company or a trust, the owner may still be able to occupy the premises as a tenant and claim property depreciation.

It is also worth mentioning that the ownership structure can have an impact on what marginal tax rate when making a depreciation claim.

Consult with a depreciation expert

No matter what type of property an investor chooses to buy, it is recommended they contact a specialist Quantity Surveyor for further advice on the depreciation that may apply to their building.  A Quantity Surveyor will arrange a site inspection, take measurements and estimate the structural costs as well as assess what plant and equipment items the building contains. They will then provide a tax depreciation schedule outlining all of the depreciation deductions available for the property owner’s annual tax assessment.

* Under new legislation outlined in the Treasury Laws Amendment (Housing Tax Integrity) Bill 2017 passed by Parliament on 15th November 2017, investors who exchange contracts on a second-hand residential property after 7:30pm on 9th May 2017 will no longer be able to claim depreciation on previously used plant and equipment assets. Investors can claim deductions on plant and equipment assets they purchase and directly incur the expense for. Investors who purchased prior to this date and those who purchase a brand new property will still be able to claim depreciation as they were previously. To learn more visit www.bmtqs.com.au/budget-2017 or read BMT’s comprehensive White Paper document at www.bmtqs.com.au/2017-budget-whitepaper

To obtain a free estimate of the deductions available in any investment property or for obligation free advice, contact the expert team at BMT Tax Depreciation on 1300 728 726.

Article provided by BMT Tax Depreciation.
Bradley Beer (B. Con. Mgt, AAIQS, MRICS, AVAA) is the Chief Executive Officer of BMT Tax Depreciation.

Please contact 1300 728 726 or visit www.bmtqs.com.au for an Australia-wide service.

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