In today's podcast, we talk about property management, but we're going to bring up some things you may not be aware of.
Did you know that one state legislation requires you to give your tenant your personal email address or your mobile number?
Did you know that in another state, you can’t ask potential tenants their age or their occupation?
How can you do a thorough tenancy check?
Boy, has legislation moved in favour of the tenants rather than the property investors.
No wonder more and more investors are wondering if it’s all getting too hard.
So, what can you do to protect yourself and the significant investment you’ve made in property?
That's what we discuss today with Leanne Jopson, national director of Metropole Property Management.
Changes in legislation for landlords
A theme I continuously hear from property investors is that the government is making things too hard, they’re continuously changing the legislation in favour of the tenant.
These investors are wondering whether it’s worth all the trouble and risk of being a landlord.
So, is this true, are all the new changes in the residential tenancy legislation in favour of the tenant?
Are you even aware of the hundreds of changes that have occurred in the various State legislations that put more and different responsibilities on you as a landlord?
Some of the changes I discussed with Leanne Leanne Jopson, national director of Metropole Property Management:
- The top four major changes in Queensland:
- Repair orders
- Nominated repairs
- Changes to notice to leave
- Minimum standards
- There have also been changes to pet applications
- In Victoria, you’re less likely to be able to say no to a pet. In Queensland, you have more room to say no
- A lot of the changes in Queensland have to do with repairs.
- Owners have to give notification of whom the tenant should notify for repairs
- Repair orders have been in place across all states except Queensland. Basically, a tenant makes an application for a repair and receives a court order that says a repair must take place.
- The court order is property specific, so even if the tenant leaves or the property is sold, the repair stands
- The minimum standards requirement includes changes about locks and latches for all doors, provisions for dampness, water, and mould, as well as appliances being in good working order
- Queensland eliminated the no reason notice to quit
- In New South Wales, the tenant must be provided with the landlord’s email address as well as the property managers
- We can no longer ask about age and employment
- We have limits on what we can ask for in terms of bank statements and payslips and, of course, whom we are allowed to pass those details onto.
- There have also been restrictions placed on “rental bidding”
Links and Resources:
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Some of our favourite quotes from the show:
“But that’s one of the reasons we have a managing agent in the middle, because I don’t want to be contacted by my tenants at 10:00 on a Sunday night when they’ve forgotten how to go to the switchboard panel and flip a switch.” – Michael Yardney
“While it’s not necessarily discrimination, clearly there are some people who are more likely to make better tenants with less trouble.” – Michael Yardney
“You need to understand the do’s and don’t of lease renewals for residential tenancies.” – Michael Yardney
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