New Smoke Alarm Obligations for Landlords
Landlords need to ensure that smoke alarms installed in their investment properties are in working order, correct location and the correct number for the size of the house. A penalty will apply for landlords who fail to comply by NSW Fair Trading.
At the beginning of every new tenancy and every year the landlord must:
• Ensure smoke alarms … Read the full post »
Tenancy Water Usage Charges
To charge a tenant for water usage in NSW your property must have the following water efficiency measures:-
• all internal cold water taps and single mixer taps for kitchen sinks or bathroom hand basins must flow maximum flow rate of 9 litres a minute
• all showerheads must have a maximum flow rate of 9 litres a minute
• at the … Read the full post »
The effects of COVID-19 on the property market may take some to be realised. Like everything else that’s affected, which is largely all parts of society, it can feel overwhelming to think about all the possible outcomes. This is why it’s particularly important in the current environment to focus on what you can do to look after yourself, your loved ones and … Read the full post »
Entering the property market with someone has many perks. You’ve got someone else to help you bear the burden of a deposit and repayments, plus you may have complementary skill sets and knowledge that makes the investment and management process easier. That’s not to say that there aren’t downsides whether it’s a spouse, business partner or friend.
Even if you technically own half … Read the full post »
THE BENEFITS IN ALLOWING PETS INTO YOUR RENTAL PROPERTY
It is becoming increasingly common for landlords to allow tenants to have a pet in their property. There can be many advantages and opportunities of allowing pets on the tenancy agreement, but before you decide, make sure you consider the following pros and cons.
Increase your chances of finding a tenant
In recent years, the percentage … Read the full post »
WANT MORE MONEY IN YOUR POCKET? DEPRECIATION IS THE KEY.
With the end of financial year just around the corner, now is the time to re -visit the tax advantages of owning an investment property. This includes arranging to have a tax depreciation schedule completed on your investment property.
Why is it important to have a tax depreciation schedule completed?
The preparation of a tax … Read the full post »
TREE DISPUTES – WHO IS RESPONSIBLE FOR WHAT?
Neighbourhood disputes are hard enough to deal with at the best of times but when your property is tenanted it makes it a little more difficult as the information is often second or third hand. Tree disputes can vary from minor issues such as a tree/branch overhanging your garden and needing pruning to large branches … Read the full post »
CAPITAL GAIN OR CASH FLOW – WHICH GOAL IS BEST FOR YOU?
There are two main objectives for property investors – cash flow and capital gain. While it’s quite realistic to set out to achieve both of these goals, the two should at least be considered separately and prioritised before making your move.
Capital Gain
There are two … Read the full post »
LANDLORD INSURANCE
There are many types of landlord insurance available and although you don’t need all of them, it is essential that you know the ones you do need for your investment property (and the ones you don’t).
Standard building and contents insurance – more commonly … Read the full post »
AN EXAMPLE OF WHY WE DO INGOING PROPERTY INSPECTION REPORTS
It is not always easy picking the right tenant but it is worth the extra work involved in getting all the necessary checks and references in place before you allow someone to move into your home.
RENTAL DEMAND: CONVENIENCE IS STILL THE WINNER
What really separates rental properties in the minds of tenants, and what will they actually pay more for? As trends change, the answer to this question changes and as we continue to search for improvements in returns for our owners we’ve been asking tenants at opens about their likes, needs and wants. Here are some of … Read the full post »
Changes to the residential tenancy laws start on 23 March 2020, with amendments to the Residential Tenancies Act 2010 and the new Residential Tenancies Regulation 2019.
The changes aim to reduce disputes over repairs and maintenance, increase protection and certainty for tenants, and clarify the rights and obligations of tenants and landlords.
The list below highlights the key changes, contact your Property Manager for … Read the full post »