Tag Archives | brisbane rent prices

Switch On to Safety…

switchSince March 1st 2008 there has been a requirement in Queensland legislation for all rental properties to have a safety switch installed to the power circuit. The Queensland Government has been reviewing laws with the possibility of extending the obligations to include not only the power circuit but also the lighting circuit. More information will be provided to our clients once it comes to hand.

Section 185 of theResidential Tenancies and Rooming Accommodation Act 2009 (Qld) requires lessor’s to ensure that the rental property is safe and fit to live in. This provision is broadly interpreted to include the provision of safety switches being checked on a regular basis to ensure that they are in sound working order.

Our agency strongly recommends that our lessors have their safety switches checked at least once a year to ensure that they’re in sound working order. We recommend that the safety switch in your investment property is checked at least twice a year to ensure that they are in sound working order and effective.

If you’d like our agency to organise an electrical safety check on your investment property, please provide written instructions to our agency. Only an electrician can verify that a safety switch is installed and in sound working order.

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Time to Splash Your Cash – Reminder about QLD Pool Safety Laws…

pool safetyQueensland’s final stage of the Pool Safety Laws have been in effect since 1 December 2010, however it is important to be aware of the upcoming dates that relate to Properties with a Pool with a particular emphasis on those with a Shared Pool and are selling or leasing on or before 1 September 2012. The following information is sourced from the QLD Government Fact Sheets. Relevant dates to note are highlighted in the information. For more information, refer to http://www.dlgp.qld.gov.au/pool-safety/pool-safety-laws.html

Pool owners have until 30 November 2015 to comply with the new pool safety laws, or earlier if they sell or lease their property before this time.

SALE CONTRACTS

 

Non-shared pools

For non-shared pools, if a Pool Safety Certificate is not in effect before settlement, the purchaser has 90 days from settlement to obtain a Pool Safety Certificate.

 

Shared pools                                                                                                                             

For shared pools, if a Pool Safety Certificate is not in effect before settlement, the pool owner, usually the body corporate, has 90 days from settlement to obtain a Pool Safety Certificate. However, for settlements occurring on or before 1 September 2012, a phase in period applies—the pool owner has until 30 November 2012 to obtain a Pool Safety Certificate for the pool.

 

RENTAL PROPERTIES WITH A POOL

 

Non-shared pools

If a pool is only accessible to residents of one dwelling such as a private house or private spa on a unit balcony, it is a non-shared pool. Before entering into a new or renewed lease for a property with a non-shared pool, the owner must ensure a Pool Safety Certificate is in effect for the pool.

 

Shared pools

If residents of two or more dwellings can use a pool, such as a body corporate pool, it is a shared pool. For shared pools, the owner must give the person who will be the tenant a copy of a Pool Safety Certificate if one is in effect.

If there’s no Certificate in effect, the owner must give the Notice of No Pool Safety Certificate—Form 36 to the person who will be the tenant, to the body corporate and to the Department of Infrastructure and Planning before entering into the lease. A Form 36 advises that the pool may not comply and the steps that must be taken to comply. The Body Corporate has 90 days to obtain a Pool Safety Certificate for the pool.

However, for leases entered into on or before 1 September 2012, a phase in period applies—the body corporate has until 30 November 2012 to obtain a pool safety certificate for the pool.

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QLD Property Prices Finally on the Rise!

property pricesMedian property prices rose across numerous parts of Queensland in the March quarter, new data shows.

The Real Estate Institute of Queensland (REIQ) March quarter median house price report found property prices across the majority of Queensland increasing with sales numbers also up – in some cases significantly.

“Three months ago when we analysed the December quarter data it seemed to indicate we had reached the bottom of the market because prices were stabilising,” REIQ CEO Anton Kardash said.

“We predicted at the time that the March quarter data would be even more positive and it certainly is that. Property prices have grown in most areas and some regions have also experienced substantial increases in sales activity, which is a hugely welcome turn around.

“And while the March quarter figures contain plenty of good news, perhaps the best piece of news is some very healthy results in our tourism centres, which have struggled more than most over the past two years.”

The REIQ said the top performer of all major regions across Qld was Fraser Coast, which posted median house price growth of 7.8 per cent to $290,000 over the March quarter. The numbers of preliminary house sales were also up 42 per cent.

The second best performer was Cairns, which recorded median house price growth of 4.5 per cent to $350,000.

Another tourism region to perform well was the Whitsundays, where its median house price increased 4.1 per cent to $350,000 over the March quarter with sales numbers up 28 per cent as well. The Sunshine Coast also experienced a significant increase in sales activity — up 24 per cent compared to the December quarter.

Queensland’s resource centres continue to experience strong demand from buyers however property price growth in Gladstone appears to have plateaued this quarter – albeit after posting median house price increase of 16.5 per cent over the year ending March.

‘‘Historically, it has been our resource centres that have led the charge during Queensland property cycles, closely followed by Brisbane, then our tourism centres and this pattern does seem to be repeating,’’ Mr Kardash said.

‘‘It’s still too early to tell whether this renewed confidence is here to stay, but a number of economic indicators, as well as lower interest rates, mean the future of our property market is certainly looking up.’’

The median house price in Brisbane increased 1.2 per cent to $505,000 over the March quarter.

 

Source : Real Estate Business Bulletin (21 May 2012)

 

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Lightbulbs and Mould… Who’s Responsible – Landlord or Tenant?

lightbulbs and mouldThe Act does not make specific reference to mould, but it does detail requirements about the standard maintenance of a property throughout the agreement.

Fast facts

  • It is the responsibility of the tenant to notify the agent or lessor of any serious/extensive mould problem.
  • If the mould is a result of an issue in the premises, such as a roof leak, it is generally the lessor’s responsibility to clean the mould and make any repairs necessary to maintain the property in good repair.
  • If the tenant caused the mould, they are responsible for its removal and may have to pay for to repair any damage caused.
  • At the first sign of any problem, the lessor/agent and tenant should discuss the issue.

An example of who’s responsible

If the tenant continually allowed steam to build up in the bathroom without proper ventilation and/or regular cleaning, resulting in mould, then the tenant may be liable. If the mould is a result of a structural issue, e.g. a roof leak, then the lessor would be liable for the repairs.

Notify your lessor/agent/manager as soon as you become aware of a mould issue.

 

LIGHT BULBS

 Fast facts

  • It is not specified in the Act who is responsible for supplying or replacing light bulbs.
  • Common industry practice is that the lessor/agent/manager is responsible for maintaining specialised bulbs, and the tenant/resident is responsible for the replacement of everyday bulbs.
  • The tenant and lessor/agent/manager should discuss this at the start of the tenancy and agree who is responsible for maintenance or replacement of light bulbs. This should be detailed in the tenancy agreement.
  • If changing a bulb requires specialist knowledge or specialist equipment, changing the bulb may be part of the lessor/agent’s responsibility to maintain the premises.

The provision of light bulbs should be specified in the Entry Condition Report.

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Finally You Can Figure Out What’s the Fair Median Rent!

median rentFinding the median rent for residential rental properties in Queensland cities, towns and suburbs is easy with the RTA’s new rent finder.

The RTA’s General Manager Fergus Smith said visitors to the website will no longer have to search through tables to find median rents in a particular area.

“Anyone can find median rent data by simply entering a postcode, relevant quarter such as March 2011, and dwelling type,” he said.

“The tool is great for people thinking of moving or who may own rental properties in Queensland,” Mr Smith said.

The spreadsheets which contain median rent information for local government areas are still available for people who want more in-depth information.

The data is based on an analysis of new rental bonds lodged each quarter and is updated each March, June, September and December quarter.

Median rents are calculated for 1, 2 and 3 bedroom flats or units; 2, 3 and 4 bedroom houses; and 2 and 3 bedroom townhouses.

Search for median rent data.

Source:  RTA April – May 2012 Newsletter

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