Today, there are a host of compliance issues that a property investor must address in order to hand over a property in safe order to a tenant. The property must comply with various safety standards required by legislation.
Tenancy and other legislation demands that your property be safe for a tenant to live in. This relates to every aspect of the property including the operation of door and window locks, smoke alarm installation, pool fencing and registration, water compliance, railings and stairs.
It is easy to overlook these issues as not important or an additional unwanted expense. As your property manager, our advice is to ensure that your property complies with legislation. This will help in mitigating any loss as a result of a break and enter, slip and fall or other claims against you.
In light of the above we also strongly suggest that even when you have taken all steps to ensure that your property is compliant, that you also affect a landlord protection insurance policy.
We urge you to use experienced guidance in helping you to take all necessary steps to ensure that your property is safe and complies with legislation.
Urgent repairs are often a hot topic as the definition often means one thing to a tenant and another to a property investor.
The definition of urgent or emergency repairs are set out in legislation which mandates what constitutes an emergency repair and who is responsible for arranging and paying for the repair.
When an emergency or urgent repair is referred to a property manager, they make an assessment of whether the repair is urgent based upon the definition under The Act and will report it immediately to you for authorisation to appoint a contractor.
Emergency repairs - The Act states emergency repairs are:
Q State Properties is a family owned Boutique Property Management agency operating in the greater Jimboomba, Logan Village & Beaudeserts area of south east Queensland.
We are offering the opportunity to manage a small portfolio of approx 60 properties with no Trust Accounting, incentives to build your portfolio, flexible working hours and time working from home will be included.
You will be responsible for:
You will have:
Skill set required:
If this role sounds like a right fit for you send your resume and cover letter to email@example.com
All applications will be treated confidentially.
AS THE LONG HOT SUMMER IS UPON US AND CHRISTMAS JUST AROUND THE CORNER TENANTS OFTEN START REQUESTING PERMISSION FOR A POOL
What happens next?
The Property Occupations Act (POA) Form 6 with REIQ's Pool Safety Annexure seeks the clients written instructions as per Item 3. Where there is a proposed lease of a property with no existing regulated pool and a proposal by a/the Tenant to erect a potable pool with a depth of 300mm or greater;
The Client permits the Tenant to have a portable pool at the property with a depth of 300mm or greater in accordance with the Relevant Legislation (as defined in Clause 1.8 of the Essential Terms and Conditions of the Agreement)
The client then has the opportunity to instruction either Yes or No and add Condition, if any.
Should the client give permission to the tenancy to install a portable pool the tenancy will then need to engage the a licensed pool Saftey Certificate upon completion of suitable pool fencing being erected and any other items or permission required prior to a safety certificate being issued.
The tenants are then responsible to maintaining the pool and ensure it complies at all times.
Contact Sandy today should you have any further questions or would like more information.
1300 778 283
Sandy enjoyed another day training this time with Stacey Holt - Real Estate Excellence.
Today we discussed the proposed RTRA Act Review, As per our previous emails to our valued clients we will continue to keep you updated throughout this process.
The key take aways and our main concerns from todays training are outlined below.
Removal of ending a tenancy “without grounds”, currently we are able to give the tenants 2 months notice to vacate at the end of their foxed term tenancy or at anytime during a periodic tenancy.
Concern ~ how will a landlord be able to give notice should they wish to move back into their own property? If a fixed term tenancy expires and the tenancy become periodic will you still be covered with your Landlords Insurance - we have been advised by many clients they are not covered if lease is periodic
Minor Modifications with a 7 day fast track approval process would include minor modifications to personalise or improve the amenity of the premises, minor water and energy efficiency modifications, connection of non-essential communication services ;
Concern ~ modifications could include fixing of fittings into shower recesses - will this affect water proofing, tiles cracking; tenants able to add fixtures and fittings, painting walls, hang window furnishings - how is this expected to be returned to the same condition as the commencement of tenancy and at what cost to the tenants
Increasing the value of emergency repairs that can be authorised by the tenant, currently this is equal to 2 weeks rent. The proposal is for this to increase to 4 weeks rent;
Concern ~ if you property is renting at $500 per week and the hot water system fails the tenant will have the power to spend $2000 without our knowledge on this emergency repair.
Allowing tenants the right to have pets the proposal does have provisions for either $250 pet bond OR carpet cleaning and pest control to be carried out however both options cannot be chosen on a single tenancy.
Concern ~ perhaps you have acreage property and do not want the tenants to have goats, horses or cows. Where will the line be drawn for what is classed as reasonable or unreasonable? What if the pets are outside only pets or additional pets are bought to the property
Minimum Housing Standards -
Weather proofing and structural soundness; will this mean building and pest reports are mandatory and if so what will there frequency be
IT IS IMPORTANT YOUR VOICE IS HEARD
Submissions can be made either by post, and or uploading to www.qld.gov.au/rentinginqld - the Government have said they are not accepting submission by the email they used last year.
Follow the above link, click the ‘Give Feedback’ box on the left hand side of the page this will take you through to the tabs “Written Submissions” or you may chose the “Give Feedback”
SUBMISSIONS CLOSE 21ST DECEMBER 2019!
We will be further emailing our clients tomorrow, if you are not a current client of Q State Properties and would like to be added to our contact list please email: firstname.lastname@example.org
I would like to take this opportunity to thank Stacey Holt and her company Real Estate Excellence for providing a very high quality service to their members.
Q State Properties has had the privilege of working with Trish Skeen, the Senior Mortgage Broker at George Financial Services. This month Trish has provided us with the following article regarding Self Managed Super Funds. With an Australian Credit Licence, extensive Small Business Experience and a wealth of knowledge in the finance industry, we welcome the article and encourage you to contact Trish with any questions you may have regarding this topic.
Individual Trustees or Corporate Trustees? How much do I need in my super fund?
It can be confusing knowing how to be prepared to buy your Investment Property or your Commercial Property.
Lenders are looking for a few things for your situation:
Your questions as a trustee may be:
Are you ready to discuss your situation? Please call 0403 211 361 to have a chat about your situation.
In the event you are not quite ready yet, we can create a plan and a timeline for your to help you achieve your financial goals, so please call or email your enquiry to email@example.com
Our Landlord Monthly Newsletter is out now....click on the link below to view your copy now.
Review of the Residential Tenancies and Rooming Accommodation Act 2008
As you may remember we provided information via our blogs and newsletters regarding the pending reform and how that reform may look based on the submissions received by the Queensland Government, mainly by tenants with overall little submissions received by Property Owners/Landlords and Property Managers.
On Friday evening The Minister for Housing and Public Works, Mick de Brenni has announced Stage 1 of proposed rental reforms that would significantly damage Queensland’s rental market and create the most onerous rental laws in the country.
If enacted, the law change would erode fundamental landlord rights and deter property investment across the state.
The reforms’ ripple effect would see renters struggling to find suitable housing under already tight conditions.
In a further blow to renters, by de Brenni’s own admission the reform would likely increase weekly rent from an average of $360 per week to $378, which is a massive 5 per cent rise.
The most controversial and damaging reform is the proposed abolishment of a landlord’s right to not renew a tenancy agreement at the end of its agreed term.
In practice, this will allow a tenant to remain in a tenancy indefinitely and for as long as they want unless the landlord can establish a reason prescribed by law.
This reform has been cleverly disguised by the Palaszczuk Government as the abolishment of ‘without grounds terminations or evictions’ - that description is inaccurate and misleading.
Under current rental laws, landlords cannot end a fixed term tenancy agreement before it ends unless a breach has occurred.
Other proposed reforms include:
• the loss of a landlord’s right to refuse pets;
• the introduction of a tenant right to make modifications to a rental property without the landlord’s consent; and
• the introduction of minimum housing standards requiring the rental property and its inclusions to meet prescribed standards and to be in a certain state of repair.
Queensland has one of the highest proportions of renters in Australia with more than 34 per cent of Queensland households in the rental market.
The vast majority of rental housing is provided by everyday Queenslanders, and many of those are already making a loss on their investments.
Given the significance of these reforms, we are disappointed that the Minister is offering a mere six week consultation process after waiting a year to announce these reforms.
On its face, the Government may think it is protecting tenants but in reality, we are likely to see housing supply reduce.
There will be no winners.
As a community, it's time for us to unite and fight against these damaging and disingenuous reforms, which will negatively impact both landlords and renters.
The below information has been sourced from the document attached called Review overview. Stage 1 has been released as part of a Consultation Regulatory Impact Statement.
The 5 key areas of reform are noted below and detailed in the Consultation Regulatory Impact statement. Stage 2 is expected to be released later in 2020. The legislative amendment bill is the next part of the process.
Sourced from Consultation Regulatory Impact Statement Stage 1 reforms – page 28 & Realestate Excellence
1. Managing tenancies
Amend the RTRA Act to remove the ability of a property owner to end a tenancy without ground
Amend the RTRA Act to specify additional grounds for an owner or a tenant to end a tenancy
2. Safety and security Housing quality and Minimum Housing Standards
Apply Minimum Housing Standards in regulation
Amend the RTRA Act to enhance tribunal repair orders
Amend the RTRA Act to increase the time for tenants to return a condition report
Amend the RTRA Act to require property owners to provide owner and nominated repairer contact details
Amend the RTRA Act to allow tenants and property managers to authorise emergency repairs to the value of four weeks’ rent
Amend the RTRA Act to prescribe maximum timeframes for Minimum Housing Standards repairs
3. Domestic and family violence protections
Amend the RTRA Act to allow people experiencing domestic and family violence to end a tenancy at short notice
Amend the RTRA Act to allow people experiencing domestic and family violence to more easily access rental bond funds
4. Minor modifications
Amend the RTRA Act to allow tenants to make minor modifications for disability, security and health and safety reasons without the property owner’s permission
Amend the RTRA Act to require property owners to respond to tenant request for other minor modifications within seven (7) days
5. Renting with pets
Encourage voluntary information disclosure by tenants and property owners relating to pets
Amend the RTRA Act to provide for pet bonds and special pest control conditions
Amend the RTRA Act to require property owners to provide reasonable grounds for refusing a pet
Amend the RTRA Act to allow property owners to obtain QCAT orders excluding pets from a property
We STRONGLY suggest all landlords have their say by completing a submission to the government via the filling link here
The following documents have been attached for your reference and review;
Q STATE PROPERTIES
Ph: 1300 Q STATE
Information Sourced from Queensland Government, Realestate Excellence and REIQ
This article is for general information purposes only and must not be taken as legal, financial or any other professional advice. We recommend obtaining advice specific to your situation before making decisions relating to your investment property and financial position.
Our Landlord Monthly Newsletter is out now....click on the link below to view your copy now.
A Buyers Agent is an independent licensed real estate agent that works for the buyer. They will have their clients best interests at heart and negotiate and act in favour of their client. They are not the selling agent who is working for the seller, we do not receive kickbacks, commissions or rebates from any other source. The buyers agent sole focus is to undertake a step by step process that ensures that the buyer purchases the best possible property to suit their needs, at the best possible price and conditions. The service can be all inclusive, or you may wish to engage a Concierge Service as required.
The buyers agent should work with you, they should find out what is important to you. For example; What kind of property are you looking for? What are your wants and needs? What area are you hoping to purchase in? This information allows the buyers agent to start the search for your ideal purchase. They will undertake the due diligence and legwork to create a short list of possible properties to review. They should be able to eliminate any properties that appear relevant, but on further inspection aren’t quite right. The buyers agent will use their working relationships with selling agents to review any “off market” listings and new upcoming listings.
The buyers agent will provide analysis of any shortlisted properties. Analysing the quality and value of the property, the listed price, the current market conditions and anticipated value.
Once a property has been selected the Buyers Agent will negotiate on your behalf, they are experienced negotiators and will work to achieve the best possible price, or to represent and bid for you at auction.
The Buyers agent service also includes Pre Settlement and Contract Conditional Process. Managing the conditional phase of the contract to ensure that all obligations and deadlines are met. The introduction or liaising with solicitors for conveyancing and arranging of building and pest inspections. The buyers agent will also attend pre settlement inspections to ensure that everything is in order prior to settlement.
Buyers agents are becoming increasingly popular in Brisbane and across South East Queensland. Whether you are a first home buyer, a property investor or looking to purchase a million dollar investment, we can help you with your property journey, to find out how contact us today. Visit www.qstateproperties.com.au or call on 1300 778 283.