The Australian Tax Office (ATO) has announced they will be doubling the number of audits scrutinising rental deductions for the 2018-19 financial year.
According to the ATO, in the 2017–18 financial year, more than $47 billion in deductions were made by over 2.2 million Australians. As a result, Assistant Commissioner Gavin Siebert has said that this year rental deductions will be a top priority for auditing.
Quality tenant selection in the first instance and a professional property management approach will do much to avoid the need to even consider how to remove a tenant from your property. However, it is still possible that at some stage in your property investment journey you will be faced with the challenge of how to remove a difficult tenant.
In this article we cover how a termination notice must be issued to a tenant, the amount of notice required to terminate the tenancy, and what happens if the tenant doesn't leave as ordered.
When an applicant is interested in securing a rental property and moving ahead with tenancy, the real estate agent will often request payment of a holding deposit.
The holding deposit removes the ability for the landlord or agent to enter into a lease agreement for that property with any other person within 7 days of the holding deposit being paid (or for a further period as may be agreed with the tenant).
However, there are some circumstances in which an applicant may have paid a holding deposit but after paying the deposit, finds that they are no longer able to or willing to proceed with tenancy. The applicant may have had a relationship breakdown with a potential co-tenant, an alternative property may have become available which is more preferable to them, etc.
In these cases the question arises - is the rental holding deposit refundable?
How Much Notice Does A Real Estate Agent Or Landlord Have To Provide Before Visiting A Rental Property?
We often hear stories from tenants who have had experiences in the past of unannounced or frequent visits from their agent or landlord. Unfortunately, especially when a landlord lives nearby to their investment property, the landlord can feel too comfortable simply "dropping past" the property to check on something, complete a minor repair, and so on.
There are very clear notice periods required in order for a landlord, real estate agent or any other party acting on their behalf to enter a rental property.
In the vast majority of instances, tenants are signed to a fixed-term lease of six or twelve months. However, circumstances can change during the lease in ways which are not anticipated at the start of the tenancy. This could be a relationship break up, change in work circumstances, disagreement between tenants, or any of a number of other reasons.
In this article we take a look at what happens when tenants wish to make changes to the names on the lease, and what happens where there is disagreement over who stays and who goes.
Recently the NSW Parliament passed the Residential Tenancies Amendment (Review) Bill 2018, which covers a number of amendments to the Residential Tenancies Act 2010.
The aim of the changes is to "increase protection and certainty for renters, while ensuring that landlords can protect their investment and effectively manage their properties" (sourced from NSW Fair Trading).
The amendments also aim to provide greater protection for victims of domestic violence, make it easier for tenants to make a rental property a home and reduce repair and maintenance disputes.
A fundamental aspect of owning an investment property is knowing when and how to appropriately increase the rent. There are many things to consider before deciding to raise the rent, including understanding your legal obligations and how to minimise the likelihood of losing the current tenant.
Carnelian Property Management Newcastle NSW
We are a family-owned and run Newcastle real estate agent offering expert property management across Newcastle and Lake Macquarie.
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