 You may be expecting a post about knowing your income and expenses - your financial figures - but we're going to take a different path in this article.
Just as important as knowing the financial numbers for your investment is knowing the other essentials - the important numbers which dictate how and when you can take certain actions with your investment property. For example, knowing how many days notice you need to provide should you wish to ask your tenants to vacate the property, how many days notice are required to increase the rent in your property, how many routine inspections can be held per year, and more. Think of this post as your "cheat sheet" of must-know, non-financial numbers for the success of your property. Let's get started!
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 There is a lot to consider when you first take the step to rent out a property you own. Whether you are looking to move out of the family home and offer it for rent, or whether you have purchased your first investment property specifically to find a great tenant - there is a lot to be done before it hits the market.
A conversation with an experienced rental property manager is of course a very good place to start. Additionally, the following points will provide a broad overview of what will need to be done and/or prepared in advance of finding a tenant for your home.  Management of investment property can certainly be complicated. With or without a property manager, you need to navigate a world of legislative requirements, insurances, and for many starting out their investment journey, you need to chart a course through the unknown.
At the same time, finding quick answers to complex questions can be hard, just as it can be hard finding the time to research the questions you have! So, we've developed a simple resource to help: PropertySnacks.  In light of the recent heightened COVID-19 case numbers throughout NSW, new temporary measures have been put in place to support both tenants and landlords who are financially impacted as a result of COVID-19.
Specifically, these measures have been introduced to prevent financially impacted residential tenants from being evicted and to assist landlords who agree to renegotiate rent. The latest information related to these residential tenancy support packages is found on the NSW Fair Trading website, while a summary is as follows.  In recent times we have seen an increase in online searches for information regarding whether a tenant is permitted to install security cameras in a rental property in NSW.
For all the of "less than clear" areas of NSW rental legislation, this particular question has actually been specifically addressed, although there are a number of conditions and a little research is required to see where!  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.  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.
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Carnelian Property Management Newcastle NSWWe are a family-owned and run Charlestown real estate agent offering expert property management across Newcastle and Lake Macquarie. Categories
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Carnelian Property Management
1A Chapman St Charlestown NSW 2290 ph: 02 4062 7458 (tenant / general enquiries) m: 0407 065 126 (investor enquiries)
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Copyright © 2022 Carnelian Property Management in Newcastle NSW | ABN 18 624 074 077. Privacy Policy | Complaint Procedure
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Carnelian Property Management
1A Chapman St Charlestown NSW 2290
ph: 02 4062 7458 (tenant / general enquiries)
m: 0407 065 126 (investor enquiries)
Submit maintenance request
Copyright © 2022 Carnelian Property Management in Newcastle NSW
ABN 18 624 074 077
Complaint Procedure
Privacy Policy
1A Chapman St Charlestown NSW 2290
ph: 02 4062 7458 (tenant / general enquiries)
m: 0407 065 126 (investor enquiries)
Submit maintenance request
Copyright © 2022 Carnelian Property Management in Newcastle NSW
ABN 18 624 074 077
Complaint Procedure
Privacy Policy