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In this edition: Smoke Alarms and Queensland Law What Are the Most Important Things You Need to Know When Choosing a Rental? Cords Can Kill – Do Your Window Furnishings Meet Legal Compliance? Save Tax $$$ By Learning the Difference Between Improvements vs. Maintenance…
September 2012
The QLD Government Wages War on Prop-erty Investors! Exposing your property around the world in 31 languages to rent your property fast-er? A Selection of Properties Leased This Month Quote Calendar of Events
Hard at Work and Play...
Spring is with us and it's such a treat
seeing so many gardens in flower. Busi-
ness is also blooming though you may
have noticed rental properties are cur-
rently taking a little longer to rent,
with the average being 14 days for Bris-
bane. The good news, however, is that
we are still finding fantastic tenants who
are wanting longer leases which
means less turnover for you, our land-
lords.
We are also excited to announce the
launch of all our properties on glob-
al.remax.com, the first truly global re-
source for consumers, giving tenants the
opportunity to view them in the language
of their choice.
Our property management business has
developed a seriously good reputa-
tion to the extent that invitations are
coming in from other business owners
for us to share our expertise. It's amaz-
ing how much we pick up when helping
them out. We appreciate any sugges-
tions that you have for us as 'Always
Improving' is our motto!
Wasn't it wonderful to see our elite Olym-
pian athletes excelling in their fields? On
a considerably more local level, Grant
and Alexander led the parade for the
kids' Olympics here and it was wonderful
watching the kids’ sports day - much fun
was had by all!
There has been a lot happening in Bris-
bane lately. This year we added the Ek-
ka to our list of outings much to the de-
light of the boys and, I'll admit it, we had
a ball too. Highlights included: the animal
nursery which was amazing and, of
course, they had to try fairy floss, and
strawberries and ice cream cones.
The Cirque du Soleil was another high-
light for us with Jade and Mum and Dad
joining us. The boys were glued to their
seats and trampolining took on a whole
new world of possibility!
Chelsea kindly offered to work on the
Ekka Holiday (15th) to do our mid month
disbursements for you to save you wait-
ing because it was a holiday. She's a
gem.
Nikki is back from a week's holiday
bringing a chest infection with her but
she's already at work wanting to make
sure all her owners are looked after. We
are so fortunate to have the team we
have working for you. They're all terrific!
We really appreciate the referrals coming
in for properties to sell and rent, and
remain grateful and dedicated to giving
you and your friends, family, neighbours
and colleagues the best service possible.
We hope you're also having some fun
and enjoying all the best that life can
offer.
Wishing you wealth, health and prosperi-
ty
Christina
www.propertyrentalsbrisbane.com FREE Information Guide For Landlords & Tenants
position and type of alarms,
visit www.fire.qld.gov.au.
The lessor/agent must
(arrange) to clean and test all
smoke alarms in the rentals
property within 30 days before
the start of the tenancy com-
mencing; this includes a ten-
ancy renewal. The key word
for compliance and risk man-
agement is that the cleaning
and testing of all alarms in the
property must be done before
a new tenancy starts, and/or
before a renewal tenancy
agreement commences. At the
time of cleaning and testing
alarms, if it is found that any
Smoke Alarms and
Queensland Law
It is has been a requirement in
Queensland since July 1 2007
for smoke alarms to be in-
stalled in all properties
(houses and units).
This includes all owner occu-
pied and rental properties.
Every property listed for sale
and/or rented in Queensland
must have minimum smoke
alarms installed.
Smoke alarms in all properties
must be in working order at all
times. For rental properties,
lessors have further require-
ments and obligations in rela-
tion to cleaning, testing and
battery maintenance. Tenants
also have responsibilities. It
must be remembered that
smoke alarms are about sav-
ing lives. The legislation which
governs these requirements is
the Fire and Rescue Service
Act 1997 (Qld).
Lessor obligations as re-
quired by the law
Every lessor in Queensland
must ensure that the minimum
required smoke alarms are in-
stalled in the property. The
alarms can either be 9volt bat-
tery operated, or 10 year lithi-
um or hard wired. For more
information about the number,
battery is flat, or almost flat,
they must be replaced.
Agencies cannot carry out this
duty due to risk management;
lessors are encouraged to
seek legal advice and advice
from their public liability insur-
ance company if they choose
to carry out testing and clean-
ing obligations personally. Our
agency has suitable preferred
contractors who can carry out
these legislative duties on be-
half of the lessor.
If the lessor/agent becomes
aware of any alarm that is not
in working order, the lessor/
agent must immediately reme-
dy any alarm that is not work-
ing (as an emergency repair).
Lessors must replace alarms
prior to their expiry date.
Tenant obligations as re-
quired by the law
The tenant has an obligation
to advise the lessor/agent im-
www.propertyrentalsbrisbane.com FREE Information Guide For Landlords & Tenants
What Are the Most Im-
portant Things You
Need to Know When
Choosing a Rental?
Choosing a home to rent can
be a very personal decision
and trying to decide if a rental
property is suitable for you at
an open for inspection can be
difficult.
Especially when you consider
how little time you actually
have to look at it and when a
number of other people are
viewing it at the same time.
Security
Have a look for deadlocks,
window locks and other securi-
ty features. The level of securi-
ty can make a huge impact on
your insurance. Check before
going to the inspection with
your insurance company for
what security features would
make a positive or negative
impact on your insurance poli-
cy.
Where can I store…
Storage can be expensive to
buy if you don't have enough
of it, and especially so when
you move house later on to a
place where you no longer
need it. Think about where
you'll store your bicycle, or
snowboard when not in use,
and even your book collection.
Is there enough internal and
external storage for all your
important items? Also have a
think about if there is enough
pantry space, where all your
linen will go and if there some-
where you can put all your
cleaning items, including the
broom!
mediately if they become
aware that any alarms are not
in working order.
The tenant is responsible for
cleaning and testing any/all
alarms at least once in a 12
month period. If a tenancy is
periodic for a term of 12
months or more, or a fixed
term tenancy of two months or
more; the tenant is required to
clean and test the alarms in
the property at least once dur-
ing this period.
If the tenant becomes aware
that any batteries in the alarms
are flat, or almost flat (For ex-
ample; they start chirping) the
tenant is responsible for re-
placing any batteries. If the
tenant removes batteries or
renders the alarm ineffective,
our agency will issue the ten-
ant with Form 11 Notice to
Remedy Breach for breaching
Standard Term 21 (2) of the
General Tenancy Agreement
or a special term (if in place) of
the agreement.
To help you get the most out
of the limited time you have to
inspect a rental we’ve listed a
few practical areas of a house
to consider before signing a
rental agreement and hopeful-
ly help you to avoid overlook-
ing something as necessary
as “will my fridge fit in the
kitchen”, in the rush of an
open house!
Cleanliness
Some rental properties are
likely to be rented just the way
they are when you view them.
If there is junk in a garden
shed, or the garden needs
weeding ask the agent if it will
be taken care of before mov-
ing in.
The hot and cold of it
Check the types of heating
and cooling available. See
what rooms it is available in
and if it works. If it doesn’t
work, ask the agent if and
when it will be fixed.
Space
Step out or measure rooms
with a tape measure to ensure
that not only will your prized
designer dining table or an-
tique bed fit in the room, but
that you'll actually be able to
get it through the door.
Sparky and techy features
The location of the television
antennae, powerpoints, tele-
phone and Foxtel outlets can
make a difference to the way
you layout your furniture and
www.propertyrentalsbrisbane.com FREE Information Guide For Landlords & Tenants
electronics, such as comput-
ers and TV's. Make sure that
you're happy with the loca-
tions.
Will your white goods fit?
Check that there is space in
the kitchen for your fridge,
dishwasher and other appli-
ances that you like to have out
on the bench. See if your
washing machine and dryer
will fit in the laundry, or if they
come with the property. If you
like to drip dry your clothes
and other items in the laundry,
see if there is space to do so.
Green thumb or not?
Have a look around outside in
the garden and check what
kind of maintenance is re-
quired. Ask whether it is ex-
pected that you maintain the
garden or if there is a garden-
er that comes around. If so,
check what their duties are. If
you happen to have a green
thumb and want to set up a
veggie garden, ask if it would
okay to do so.
Are you a Gas or Electricity
kind of person?
This really is a personal
choice; some people prefer
gas cooking while others might
like electric hot water. Which-
ever is your preference, check
what's available and that
you’re happy with it.
Other things to consider
Does the property have roller
doors or shutters, check to if
they are electric or if you man-
ually have to open and close
them.
If there is car parking with the
property check how many
spaces it contains. Have a
look at the local parking sign-
age, as you may require park-
ing permits.
If in doubt about anything, ask
the agent so as to avoid mak-
ing assumptions which may
lead to a headache latter on.
Happy house hunting!
Source : www.realestate.com.au (12
July 2012)
Cords Can Kill – Do
Your Window
Furnishings Meet Legal
Compliance?
Landlords who supply corded
window furnishings in rental
properties must now comply
with Mandatory Product
Standards designed to reduce
the risk of strangulation of in-
fants and young children.
The legislation is part of The
Australian Consumer Law
which came into effect on 1
January 2011 and incorpo-
rates The Trade Practices Act.
Any corded window covering
such as Vertical Blinds, Vene-
tian Blinds, Holland Blinds,
Roman Blinds and Curtains
and any fitting containing
cords, such as Curtain Rods
and Tracks must comply.
If your window coverings have
cords they must have:
A Warning Label on each cord
www.propertyrentalsbrisbane.com FREE Information Guide For Landlords & Tenants
A: The answer is dependent
on whether the new fence con-
stitutes a repair or an improve-
ment.
Furthermore, if it meets the
definition of a repair, was it in
that condition at the time of
purchase?
What determines something
as a repair rather than an im-
provement is a question of
fact, determined by case law.
However, in general terms, the
following rules can be applied
to assist you in your decision-
making.
Work carried out is more likely
to be a repair if:
• It relates directly to wear and
tear.
• It is a replacement or renew-
al of a worn out or broken part.
It restores something to
its former condition and
remains functionally the
same.
Work carried out that has the
A Child Safety Device, and
Installation and Child Safety
Instructions
Failure to comply may expose
you to severe penalties and
may also be a breach of your
duty of care to provide safe
products in the home, which
also exposes you to the risk of
litigation which your insurance
may not cover.
If you think that your window
furnishings do not comply,
then contact Your Property
Manager who can arrange for
a specialist compliance in-
spection and retrofit of window
coverings to make the home
safe and put your mind at
ease.
Save Tax $$$ By Learn-
ing the Difference Be-
tween Improvements vs.
Maintenance…
Q: Can I claim a deduction for
the new fence I just installed
on my rental property?
www.propertyrentalsbrisbane.com FREE Information Guide For Landlords & Tenants
following characteristics may
be classified as an improve-
ment if:
• It changes the character or
functionality of the item.
It becomes a restoration
of substantially the whole
building in its entirety.
An immediate deduction is
available for work considered
a repair, regardless of cost.
However, an improvement or a
repair to a condition that exist-
ed prior to purchase date is
considered capital in nature
and therefore not deductible.
In some cases, a capital allow-
ances deduction may be avail-
able in line with Division 40 of
the Income Tax Assessment
Act 1997 over the life of the
asset.
Applying these facts, if the
fence in question is a result of
work required to repair dam-
age or wear and tear that has
occurred since the property
has been rented out, then a
deduction will be granted in
full.
However, no outright deduc-
tion would be available if the
new fence is:
• Of a different material to the
old one (and therefore result-
ing in a change in character
and functionality).
• An addition to the existing
fence line.
• A repair to a fence that was
already damaged at sale date.
You may be entitled to a de-
duction under the capital al-
lowances provisions of Divi-
sion 40 over a number of
years.
Finally, remember this infor-
mation is general and does not
take into account your circum-
stances. You should speak
with an adviser to consider if
it's suitable for you.
Source : Australian Property Investor
(April 2012)
The QLD Government
Wages War on Property
Investors!
The Queensland government
has earmarked property inves-
tors as one of its key targets to
squeeze for income as part of
its efforts to salvage the
state’s fiscal woes, says the
state’s real estate institute.
According to the Real Estate
Institute of Queensland
(REIQ), the state govern-
ment’s financial audit has out-
lined potential revenue-raising
measures including the follow-
ing:
imposing a $100 levy on all
property owners; reducing or
removing the concession on
land tax; applying a premium
transfer duty rate; and increas-
ing the landholder acquisition
duty rate.
In a worrying commentary on
www.propertyrentalsbrisbane.com FREE Information Guide For Landlords & Tenants
the government’s plans, the
REIQ has stated that any fur-
ther financial imposts on prop-
erty investors is likely to see
them pull up stumps and sell
their rental properties.
In short, property owners are
sick and tired of having to bail
out the government, said act-
ing REIQ CEO Antonia Merco-
rella.
“Property owners – and inves-
tors specifically – seem to for-
ever be targeted by all levels
of government when they are
short of cash, whether it is
through higher council rates,
one-off levies or higher rates
of stamp duty,” she said.
“The additional legislative and
compliance obligations on
property investors over recent
years, coupled with weaker
returns on investment, has re-
sulted in many opting to sell
their rental properties.”
According to the REIQ, Aus-
tralian Bureau of Statistics
(ABS) data shows the number
of investors active in the
Queensland property market
has halved in the last five
years, and Mercorella believes
this number is likely to decline
even further if investors are
slugged with additional costs
a s p l a n n e d .
“We are currently starting to
see the impact of this reduced
investor activity with vacancy
rates tightening and rents in-
creasing across the state. If
more investors left the rental
market, then this situation
would undoubtedly worsen,”
she said.
“If land tax thresholds are re-
duced or removed, the added
costs would put an end to the
glimmers of renewed investor
activity we have seen in recent
months and would also likely
be passed onto tenants via
increased rents.
“Also the unit and townhouse
market in particular is yet to
see investors return signifi-
cantly with the additional costs
associated with this type of
housing deterring investors.”
Source : Your Investment Property
(19 June 2012)
Exposing your property
around the world in 31
languages to rent your
property faster?
In our multicultural nation 1 in
5 people living in Australia
don’t speak English as their
first language.
The launch of all our property
listings for sale and rent on
the new global.remax.com.au
in whatever language you se-
lect is I believe a world first!
The website features proper-
ties in more than 85 countries,
i n 3 1 c u r r e n c i e s
and languages. All currencies
are converted to your lan-
guage of choice as well as full
descriptions of the properties.
Now, it couldn't be easier to
consider investment options
anywhere in the world and for
those who are not English
speaking to rent your property!
17 September Mid Month Accounting 01 October PUBLIC HOLIDAY 02 October End of Month Accounting
A Selection of Properties Leased This Month
Bardon House $650p.w.
3 bed, 1 bath, 2 car accommodation
Quote
The reason a lot of people do not recognise opportunity is
because it usually goes around wearing overalls look-
ing like hard work.
- - Thomas Edison
Kenmore House $600 p.w.
3 bed, 2 bath, 2 car accommodation
RE/MAX Profile Real Estate 141 Boundary Road TEL 07 3510 5221 FAX 07 3876 5544
www.profilerealestate.com.au Bardon QLD 4065 TEL 07 3510 5227 Nikki [email protected]
www.propertyrentalsbrisbane.com PO Box 388, Paddington, 4064 Helen [email protected]
Marcia [email protected]
Errors & Omissions: These details have been prepared by us on information we have obtained and while we trust it to be correct, is not guaranteed by us and you should rely on your own enquiries.
Wilston Unit $350 p.w.
2 bed, 1 bath, 1 car accommodation
Calendar of Events