A decision by the NSW Court of Appeal to allow pets in a high-rise is set to have major ramifications for corporations and apartment owners. Earlier this week, three Court of Appeal judges delivered what’s being described as a landmark decision likely to affect strata schemes going forward. The matter centred around Darlinghurst-based complex The Horizon, which sought to ban tenant Jo Cooper from keeping her 13-year-old Miniature Schnauzer named Angus at the premises. The...
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THE real estate industry is bracing for the next move of a familiar disrupter, threatening to give the highly regulated field an unwelcome shake-up. Leasing agents and those who manage rental properties are sharpening their sales pitches to owners and tenants alike as they prepare for Airbnb to disrupt the long-term rental market. [More] [See also ‘Significant legal issues’ posed by rental platforms]
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HUNDREDS of investment properties across Queensland could be meth time bombs with experts warning clean up costs could run into the thousands. Australia’s meth use has tripled in the past five years, and according to one industry testing group that means the number of clandestine drug labs would also be on the rise. Bryan Goodall, the national sales manager for Octief, environmental and occupational hygienists, which test properties for chemical residue from methamphetamines, said it...
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Shannon Molloy, deputy editor of Australian Property Investor Magazine, has posted a commendably detailed and informative article on-line on the above topic. Discover what the legal and tax implications are, he writes, when converting your family home into an investment property: Whether you’re taking off overseas for a holiday or new job, moving interstate or buying a new house elsewhere, it’s probably crossed your mind to rent out your current family home rather than sell...
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Housing policy in Australia is overdue for a major renovation. Government tax and welfare policies, by favouring homeowners and property investors over people who rent, are increasing the divide between Australians who own housing and those who do not. The divide is income-based and it is generational. While home ownership is stable or declining slightly in Australia, there are sharp falls in ownership rates among households with low incomes or aged under 45. This report...
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It’s a worldwide phenomenon called ”Generation Rent” – and it has landed in Australia. While the term is used internationally to describe the wave of people in their 20s and 30s who will never be able to afford to own homes, a report has found that permanent renting is becoming a way of life for Australians of all ages. Families, older people and young people are all increasingly being locked out of home ownership, says...
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What is a landlord’s idea of a good tenant? Is it someone who regularly maintains the upkeep of the garden or is it someone who is conscious of not spilling wine on the new carpet? Surprisingly, it’s not only malicious tenants who can cause property damage to a landlord’s life investment. Research from Terri Scheer, Australia’s leading specialist landlord insurance provider, has seen a spike in property damage caused largely by accidents, and by good...
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When looking to buy an investment property that will bring in a good rental return, location – in particular, proximity to public transport and the local shopping strip – is key. As is buying something that offers a sensible layout and, if you’re intending to lease it immediately, won’t require large capital works to bring it up to scratch. But once you’ve taken possession, what – apart from ensuring the property has been properly cleaned...
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Thousands of Sydneysiders are unknowingly risking fines by opening their homes as short term rentals without seeking council consent. NSW councils are grappling with how to manage the growing market for private short term holiday letting, which is expanding through social websites such as Airbnb. The City of Sydney has warned an individual could face a $750 fine for renting out their property without council approval. ”The City’s Local Environment Plan does not permit mixing...
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A landlord who wants to have five people living in his two bedroom flat has been blocked by his neighbours who have limited occupancy to two adults per bedroom. “I want to rent out the spare room and have placed two bunk beds in the room,” says Bearforce1 on the Flat Chat forum. “However, the building has passed a by-law imposing a two person per room limit on residents over 18. He has a two-bedroom,...
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