Restraint of Trade- Social Media Platforms

The use of social media in the workplace is dramatically changing how we go about business, bringing both significant opportunities as well as potential threats.

Without adequate safeguards, the contacts made by employees on social networking platforms, such as LinkedIn, could be retained by the employee and used to the detriment of the previous employer.

 There are a number of actions that your business should definitely consider to help safeguard itself against potential loss and damage, in terms of client relationships, confidential information and intellectual property:

1. ensure your contracts of employment include the most thorough protection possible;
2. introduce  policies and procedures that cover the use of information in a social media context and set rules around how employees can and cannot use social media to network with customers and prospective customers;
3. matters to address with new employees on commencement of the employment relationship, so that the expectations in relation to the use of, and rights associated with, social media contacts both during and after employment are clearly set out; and
4. how other measures (such as paying for "premium accounts" on LinkedIn) can demonstrate professional networks created in the course of employment as distinct from social networks that may fall outside the bounds of employment and remain unprotected.

   

 

 

 

 

Vacant Rates in Victoria

New data shows rental vacancy rates across one state are stable or falling, while some regional markets are offering healthy yields of up to 5.4 per cent.

Real Estate Institute of Victoria said recent vacancy data showed that in Geelong, the regional centre with the highest rate; there was a 0.1 per cent fall to 4.4 per cent in October, based on the six-month average trend to 31 October.  

In East Gippsland and Wellington Shire, there was a fall from 3.4 to 3.1 per cent.

In many regional centres, such as Ballarat, the vacancy rate was already low, with housing agencies often struggling to find sufficient accommodation for tenants.  

So, while a further fall in the vacancy rate is unwelcome news for those looking for a place to live, for investors it means continuity of tenancy and the likelihood of a pool of would-be tenants from which to choose?

In Ballarat and the Central Highlands, the vacancy rate fell from 2.8 to 2.7 per cent, while in Shepparton and Goulburn, Warrnambool and the Western District; it was down to 2.7 per cent from 2.9 per cent. In the Wimmera it was stable at 2.2 per cent.

Median house rents were up in Geelong, Ballarat and Bendigo in October, while across the state the median rent for a house remained stable at $300 a week.

The median apartment rental rate was also stable at $250 a week, but in Ballarat, where the housing market is tight, it rose from $240 to $255 a week.

 

Source; REIV

Contractor Management

Contractor management can be a very challenging area for organisations to manage and your obligations under Occupational Health and Safety legislation are not absolved because you have engaged the services of a contractor. It is important that contractors have a clear understanding of what is required while on site at your workplace and that they have their own robust safety policy and safety procedures in place.

If your organisation engages contractors or sub-contractors, contractor risk management should be integrated into your safety management system. A safety induction which is relevant to the site should be completed before commencing work. The complexity of the contractor management process will depend on how a contractor is engaged, the type of work, where and under what circumstances the work is being conducted.

Designated workplace health & safety consultants with experience in your particular industry will work with you to develop a contractor management program that demonstrates due diligence and gives you a practical tool to systematically manage contractors.

A Consultant can provide you with a gap analysis to ensure your current safety policy and safety procedures are up to date with current Occupational Health and Safety legislation.

Contractor management safety services should include:

·    Review the current contractor safety management process and make recommendations

·    Development of a contractor safety management program for your business including safety policy, safety procedures, safety checklists, safety induction and/or safety training

·    Mentoring and training program to give your staff the skills to manage contractor safety

Source; Safety Australia; safetyaustraliagroup.com.au

Why do I need a Section 52 Statement?

In Victoria you are legally required to provide a prospective buyer with a Vendor’s Statement (also known as a 'Section 52 Statement') if the goodwill, plant, equipment or fittings of the business are being sold for a total price of $350,000 or less. Failure to provide this statement or satisfactorily complete it will give the buyer the right to terminate the sale contract. You must give the purchaser or their representative a completed and signed copy of the statement before they either sign the contract or pay the deposit.

The sale of small businesses is regulated by provisions of the Estate Agents Act 1980 and the Estate Agents (General, Accounts and Audit) Regulations 1997.

Your accountants will make sure you have this document is available to prospective purchasers prior marketing the business.

Why buy an existing business?

If you buy an existing business, you can analyse the profit and loss statements and balance sheet of the Company you are buying. This is an advantage because you see firsthand what you are getting in, particular the income streams of the business and the individual expenses of the business.

In addition to this you have a going concern producing revenue, with staff, brand, systems and an infrastructure in place. In essence you are making money from the day you settle.

When you start a business from scratch, you must secure and fit out a premise, build the systems, web site, arrange plant & equipment, hire and train staff- all of this before you begin to earn an income.

Statically most start up businesses struggle to make a profit and in some cases fail within 3 years from commencing. Experience would say that starting up a business require an enormous and of persistence & resilience but above all a bullet proof business plan.

What items to be included in the sale of a rent roll?

The followings items that possibly could be included in the Contract of Sale to purchase a rent roll;

 1.            Telephone numbers and Facsimile numbers- In some cases the franchisor may   reserve/own these numbers and this is reflected in the franchise agreement.

2.            The agency’s web site URL.

3.            The agency’s Trading Name.

4.            Any mobile phone numbers of staff where the business pays for or provides a mobile phone as part of the employees work agreement.

Rent Roll Market Wrap -2013

Victoria

We have seen an increase in buyer enquiry from agents wanting to purchase rent roll over the last quarter. The reason for this is that agents are experiencing a decrease in sales income and are willing to purchase a rent roll that ensures bankable and regular monthly income.

A number of sale of smaller sized rent rolls, or parts of existing rent rolls have occurred in the last quarter. The reason for this is agents have sold rent rolls in order to inject capital into their businesses. Some residential agents have sold their commercial portfolio’s, to concentrate on core activity, reduce debt.

 There haven’t been a lot of transactions where agencies have sold on a walk in walk out basis. The business confidence and the state of the Real Estate market haven’t encouraged this.

We predict that there will be more mergers of agencies over the next 12 months; so agencies with like businesses can take advantages of the economies of scale and maintain income whilst reducing duplicated costs.

The multipliers are remaining constant at $3.00- $3.20 in Metropolitan Melbourne, $3.20-3.35 for quality Inner City rent rolls that have been managed for a length of time.

The outer suburbs particularly the Western Suburbs f Melbourne the multipliers have dropped slightly to figures of $2.00-$2.40.

 The multipliers in regional Victoria have maintained their values in the $2.00- $2.50 region.

NSW     

We have experienced a huge increase in buyer activity in the last quarter. The appertite from agents looking to increase and scale up the size of their rent rolls has been huge. As a generalisation the size of rent rolls NSW have been smaller than some other States. Buyers now see the value in a large well run rent roll that provides consistent property management income and sales leads.

The amount of buyer activity in the Eastern Suburbs, North Shore and Hills District has resulted in a seller’s market.

The multipliers achieved for good sized well run rent roll is $3.20-$3.70 in Metropolitan Sydney. Rent rolls have sold in outer suburbs in the $3.00- $3.20 region. The multipliers achieved in regional areas such as the Central and northern Coast is in the vicinity of $2.50- $3.00, whereas rent rolls in the Regional Country areas have sold around $2.40-$2.70.