The latest data from month ending 30 September 2020 has shown that Lake Macquarie East currently has the lowest rental vacancy rates in the entire country.
As the impacts of COVID-19 began ramping up around March / April 2020, the NSW Government announced temporary measures to restrict when landlords can evict tenants due to rental arrears as a result of COVID-19. In addition, the Government increase the notice period for certain other cases for termination to 90 days.
These restrictions were originally due to end on 15 October 2020. They have now been extended until 26 March 2021.
In NSW we are endlessly presented mainstream media reports about the property market, heavily skewed by data from Sydney and Melbourne. The reality is that so much of what we are presented simply does not apply in our local area or regional areas generally.
In this post we present the latest data specific to vacancy rates across Newcastle and Lake Macquarie, and discuss research showing that people are relocating to regional areas away from capital cities, which is in turn helping to drive house price growth and these lower vacancy rates in regional areas.
A common topic of conversation with our investors is whether they should offer their property furnished or unfurnished. There are several factors which contribute to determining what is best in each particular instance, as we will cover below.
As of 1 July 2020, the rules have changed regarding how landlords must deal with items left behind in a rental property by a tenant. There are some quite significant changes from July to the rights of landlords and tenants when goods have been left behind, which we will detail below.
We are often asked what happens when a tenant's fixed term lease period ends. In this post, we specifically address a number of questions relating to what happens to the tenancy agreement at the end of the fixed term (rather than discussing the rights and responsibilities of a tenant choosing to leave at the end of the lease).
Below, we will cover the following questions related to this topic:
In conversations with owners new to property investment, and with people who have chosen never to invest in property, we often hear this sentence: "What if the tenants trash the place?".
The feeling of apprehension and nervousness is understandable. No one wants to risk having something of value handed over to someone who will cause damage and disappointment. However, while the feeling is understandable, it is usually not justified.
Carnelian Property Management Newcastle NSW
We are a family-owned and run Charlestown real estate agent offering expert property management across Newcastle and Lake Macquarie.