If you have an elderly relative or friend coming to live with you, you might be wondering whether a formal agreement needs to be made, or if it’s easier to stick to a casual arrangement.
Prospective landlords often believe that trusting a property manager to oversee their investment property is the best course of action. But hiring a poor property manager can be a risky move if they turn good tenants into nightmare tenants. There are three good reasons why a poor property manager is a risk to your sanity and bottom line.
In Australia there are two main types of property ownership – we explore the legal differences between Joint Tenants and Tenants in Common so that you can choose the right arrangement for your investment needs.
Thinking of sprucing up your rented home over the Christmas break? Did you know that even something as simple as painting the walls requires your Landlord’s permission? Before you even start getting those colour charts out – check out the rules of what you can and can’t do to your rented house.
Whoever said “Ignorance is bliss” was not referring to being a Landlord. Landlords need to be informed and follow the rules set down by state legislation so they can deal with issues and tenants effectively.
There are some important differences between renovating an apartment and renovating a free standing property. You don’t want to upset the neighbours or fall foul of the body corporate. You can stay out of trouble by following the tips in this guide to body corporate rules.
It may be seem like a generous act of goodwill to allow your tenant to move in before finalising your lease – but this decision can have big consequences for you down the track. We examine the three main reasons why you should resist the temptation to let your tenant move in before they have signed on the dotted line.
It’s tempting to turn your spare room into a stream of extra income, and it’s pretty easy to do with tools like AirBnB. But don’t jump into this venture lightly because there are serious issues to consider.
It might seem very basic, but it is vital to get the names of the entities or “parties” correct when drafting a legal document. Stating the parties formally and accurately gives you certainty that there can be NO question about the parties’ intentions later, especially if the particulars are changed or forgotten. We look at the different types of “parties” and the correct way to record the information.
Verbal agreements can be legally binding and in fact many business and personal transactions are conducted purely on a handshake. But if things go wrong, it can be very difficult to sort the matter out or to even prove the agreement existed.
Many couples enter into co-ownership of property as joint tenants but sometimes this arrangement is no longer appropriate and it needs to be changed. We examine the circumstances under which you may want to sever a joint tenancy. It is a straight forward process that can be done by either party without the permission of the other co-owners.
Landlords need to follow the rules set down by legislation when communicating with tenants so they can successfully deal with issues. We outline the correct procedures that you should follow. Read more
There are two options to extendng a lease once the tenancy has expired – you can either enter into a new lease or document an extension of lease. Download free extension of lease.
The NSW government mandates strict laws regarding swimming pool fencing to reduce child fatalities. There are new changes taking effect from 29 April 2016 that require all homeowners with a pool to have a valid Certificate of Compliance or relevant occupation certificate before they can sell or rent a home in New South Wales. Read more\
Methamphetamine manufacture is on the rise and poses a risk to landlords due to property damage and expensive cleaning costs. Meth labs have been found operating from homes in the suburbs, high rise apartments and increasingly, in rural locations. Do you know the tell tale signs that a property is being used as a meth lab? Read more
The inescapable fact is that house prices keep climbing while wages stagnate. Statistics suggest that Aussies are becoming home owners at a later age and committing to higher house debt than the generations that went before. What can you do to make the most of the resources you have and get your foot in the property ladder? Read more
Teaming up with other investors is a smart way of entering the property market. We look at the fundementals of property co-ownership and address the common questions.Read more
Many property investors rely on negative gearing but what would happen if it just wasn’t available anymore. John Edwards takes a good luck at what might happen.Read more
As a general rule, people make a buying decision based on emotion and the purchase of a house is no different. Buyers need a story and emotion, they need to get excited about a house or feel something. We look at design tips to reach this goal so you can sell your house faster. Read more
The A.C.T Government is considering a range of changes to the Residential Tenancies Act 1997 to achieve greater balance between the rights of landlords and tenants. Read more
A NEW Tenancy Complaint Service launched by Fair Trading in New South Wales helps landlords, property managers and tenants resolve disputes when communication between the parties has broken down. Read more
It’s taken several years to get all the documents together but we’ve finally done it. We’ve just launched our Property Investors Kit with a view to providing all of the documents you would need if you were prone to property investment. Read more
Teaming up with family or friends to invest in property can be an astute financial move as long as you work out a plan for the potential pitfalls.Read more
The tenancy regulations in NSW have been changed to prevent children falling from windows and balconies.Read more
The government is set to remove the GST free status of farms and businesses sold as a going concern.Read more
Whilst selling an investment Property that is tenanted can be more problematic than selling an empty house, it can be done if you follow a few simple rules.
A good mortgage broker can be invaluable to your success in property investment so its pays to know how to choose the best one for your needs. We have a few tips that can help.
Do you own a house in NSW that was built before 1980? If so, it may be affected by loose-fill asbestos which could mean you are unable to sell or rent your home or investment property in the future.
We examine the proposed changes to NSW residential tenancy laws that are designed to protect victims of domestic violence.
As a landlord, you invest time in screening suitable tenants, decide who is best placed to look after your investment property and subsequently enter into a lease agreement. However, with the rise of the sharing economy, you may be unaware of how your property is actually being used. If your tenants sub-let the property without your knowledge or permission, do you have any rights to reclaim possession?
No matter what age your children are, you’ll inevitably worry about their finances and future security. If your children are adults who have yet to achieve the ‘Great Australian Dream’, then you might be interested in exploring the options that will help your child invest in their own home sooner.