Investors in Beaudesert are quietly celebrating the long-awaited price rises that have finally come to fruition after many years of limited capital growth. Within the past 12 months, the Scenic Rim has seen a staggering growth in both property values and rental yields. However, after such an incredible year, many have concerns that the RBA interest rate rises may cause the real estate market to fall. The RBA is justifying the rate increases as a weapon against inflation. The question is, will 2023 see Beaudesert enter an adjustment phase of the property cycle which will correct the significant ..read more

With the recent reforms to the Residentail Tenancies Act, there has been some changes to the way repairs and maintenance can be managed by landlords/agents and tenants. These changes relate to the process and authorisation for repairs. For issues surrounding repairs and maintenance it is strongly encouraged that tenants and managing parties attempt to resolve matters by talking to each other and negotiating a feasible and realistic timeline for action. If self resolution has been attempted and is successful a Notice to Remedy Breach (Form 11) can still be issued to help formalise the agreement ..read more

A significant change to the Residential Tenancies Act concerns how landlords/agents and tenants can end a lease. What hasn’t changed is the requirement that a lease can end only in accordance with the provisions of the Act. What has changed are the designated grounds, or reasons, for termination. On the plus side, the changes give parties more reasons for termination. On the downside, from the landlord/agents’ viewpoint, is that no longer can a lease be ended using the ‘without grounds’ provision. Fortunately, the new Act does allow for a Fixed Term Tenancy to be ended by either party when the ..read more

Acquiring a property that is already tenanted is certainly more attractive when your income will commence as soon as settlement occurs. However, with an existing tenancy and management in place there are questions that should be asked before you sign on the dotted line. Ensuring that you are fully informed will prepare you for any upfront costs you may encounter upon your ownership commencing. A managing agent should be ensuring your property is compliant with legislation and well maintained. Failure to have policies and procedures in place that cover all facets of property management could po ..read more

Did you know that one child falls out of a window every week in Australia? Or that as a landlord, you are responsible for providing and maintaining compliant windows and glass? Window openings Essentially, if the bottom of the window opening is less than 1.7m above the floor, and the exterior drop is 2m or more, there must be some restriction on the width the window can open, or a window lock or a screen. For windows where the bottom is higher than 1700 mm from the floor no special provision is required. The thinking being that young children cannot reach these higher openings. Devices do not ..read more

The question of who is responsible for pest control within a rental property is one that will always occur as the Residential Tenancies Act does not specify exactly which party is liable – tenant or landlord? The tenants’ obligations are to keep the property clean during the tenancy and to not cause damage. The Act states that “the tenant must take reasonable care of the premises and keep the premises reasonably clean.” So, in terms of pest control, it would be reasonable to expect the tenant to not do anything likely to cause or attract pests and vermin and to pay for pest control where their ..read more

What is the concept of risk management? It is implementing processes and procedures to ensure that any risk of harm to the business, landlord or tenant is minimised upon the occurrence of an unforeseen event. In such a litigious society we must remain acutely mindful of how quickly a claim can proceed following an incident or injury at a property we manage. At C1 Realty our property management department uses the most current software and has developed very thorough procedures to ensure that all aspects of management are carried out meticulously. Listed below are the measures our agency has in ..read more

The subject of pets within rental properties has recently been brought up in the proposed rental reforms by the Department of Housing and Public Works. Landlords currently have the right to refuse pets at their investment property but under the proposed reforms they would have to prove it is unreasonable to house a specific pet at their property before being able to refuse it. As a Landlord the first question likely to come to mind is “How will allowing pets in my investment property benefit me?”. Pets, after all, can be the cause of much damage to a property if not managed by a responsible pe ..read more

A ‘disaster event’ includes flood, fire, cyclone and any act of nature that may damage or affect a property. Recently within the Scenic Rim we have seen the devastation of bushfire. There were many properties affected by this event. Either sustaining damage, or in a few terribly unfortunate cases, a total loss of the family home. Thankfully none of the investment properties managed by our office were affected, however it does bring to the forefront thoughts of how we would handle such an event if it were to occur. A property is considered unliveable if it is fully or partially destro ..read more