landlords' newsletter december 2013
DESCRIPTION
RE/MAX Profile Landlords' Newsletter December 2013TRANSCRIPT
In this edition: How long will it take for your property to rent? Silent Danger – Could Your Halogen Lights Cause a House Fire? Preparing Your Property for a Bushfire – Essential Tips You Need to Know! How to Protect Your Investment Property Over the Silly Season
December 2013
QLD Gives Green Light for the Best New Building Industry Regulator in the Country! Renters and Rugs: Sun Damaged Carpet – Who’s Responsible? Are You Missing Out on Saving Thousands in Tax Depreciation??? A Selection of Properties Recently Leased Quote Calendar of Events
With Christmas fast approaching
we're busier than ever with that
crazy end of the year finalising
rush! We hope you get to enjoy a
break and, before doing so, want
to remind you of the importance of
making sure we are clear on your
instructions on lease renewals.
Please let us know if the tenants'
lease expires in the next three
months. Remember, if you want
them to vacate, you must give 2
months notice (they only have to
give you 2 weeks notice to move
out, providing it isn't before the
lease expires).
Due to the increased time required
to get properties rented, although
we'll have no receptionist, we will
have a property manager working
all the way through the Christmas
period, focusing on renting as
many properties as possible.
Nobody likes vacant properties;
we understand this and want to
keep ahead of our competition if
there are prospective tenants
looking.
The office will be open in full
swing from the beginning of Janu-
ary and your payments will be
made on the 2nd of January as
usual.
Helen is having a well-earned
break next week so please don't
contact her on her mobile during
this time - we need to let her have
a property-free holiday! During this
time please call the office on:
35105222 and one of our team will
be very happy to assist you.
We will be monitoring all of
Helen's emails and she has been
given strict instructions to resist
checking...
Wishing you a wonderful holiday
season,
Christina
Check your rent renewals before the holidays!
www.propertyrentalsbrisbane.com FREE Information Guide For Landlords & Tenants
How long will it take for your property to rent?
That of course depends on the time of the year so here are the latest statistics for November. BRISBANE STATISTICS The Market Source: rentfind.com.au
Brisbane, QLD November 2013 Annual Change
Median Weekly Rent - House $410 5.1% increase
Median Weekly Rent - Unit/Apartment
$385 2.7% increase
Days Vacant (Avg) 15.1 0.6 decrease
Days on Market (Avg) 25.6 1.1 decrease
Silent Danger – Could Your
Halogen Lights Cause a
House Fire?
Landlords are being reminded
they are required by law to en-
sure electrical appliances in their
rental properties are safe, work-
ing and properly maintained.
The Country Fire Authority re-
portedly attends to more than
1,000 house fires every year in
Victoria.
While many fires start from well-
known causes such as ciga-
rettes, faulty appliances and
sockets, few landlords realise
that poorly installed halogen
downlights are also a risk.
When installed near insulation,
roof timbers or floor beams, halo-
gen lights can reach 250 degrees
Celsius and on a hot day, they
can smoulder and ignite a ceiling
fire.
Melbourne-based LED lighting
supplier cherryLED has recom-
mended landlords replace halo-
gen downlights with LED lights as
a safer alternative to traditional
energy-hungry halogens.
According to Ben Wright from
cherryLED, “LEDs only use 15
per cent of the energy of a stand-
ard halogen and are cool to
touch, making them a much safer
and more affordable alternative
to traditional lighting such as hal-
ogens.
“Our lights are tested by the Mel-
www.propertyrentalsbrisbane.com FREE Information Guide For Landlords & Tenants
bourne Metropolitan Fire Brigade
for heat safety. They also meet,
and in many cases exceed, the
requirements of Standards Aus-
tralia.”
Due to their increased longevity,
LEDs require very little mainte-
nance. Boasting a lifespan rating
of more than 13 years, compared
to just 3,000 hours with conven-
tional incandescent globes, prop-
erty investors can spend less
time up ladders and more time
enjoying the summer.
“We want to see everyone mak-
ing the most of cost-efficient,
‘cooler’ LED lighting this summer
- and working towards a more
sustainable society,” Mr Wright
said.
Source : Residential Property Man-
ager (11 November 2013)
Bush fires cause loss of life and
millions of dollars in damage eve-
ry year in Australia. They're dev-
astating, but they're a fact of life,
so it's critical you understand if
you're at risk, how to minimise
that risk and where to get help
and more information if you need
it.
Embers floating through the air
before and after the main fire
front are responsible for destroy-
ing many houses, as they land in
gutters or through windows that
have smashed from the heat.
Fires also start from burning de-
bris that piles up on verandas or
in doorframes, or through thick
vegetation close to the home can
cause timber posts and decks to
ignite.
Most homes that burn survive the
main fire, but are destroyed in the
following hours. In many cases if
people are well prepared to put
out small spot fires, they can
save their home.
PLAN AHEAD
Ideally you should be on top of
this before fire season, but it's
never too late to protect you and
your property.
Clean out gutters and other roof
fittings - they collect leaves and
debris, which are extremely flam-
mable.
If you have a woodpile, which is a
fuel source, site it well away from
the house.
Prune any trees that are close to
the house, as overhanging
branches will fuel a fire.
At ground level, keep grass short
and rake up leaves.
Purchase at least one garden
hose that reaches the perimeter
of your property.
Regularly recycle newspapers
and cardboard. Don't store piles
of recycling material close to the
house.
Store flammable liquids and paint
away from the house.
LPG gas bottles should have the
valve facing away from the
house.
Pool chemicals can ignite if
Preparing Your Property for
a Bushfire – Essential Tips
You Need to Know!
Bushfire season is well and truly
upon us with devastation already
widespread across Australia. Our
thoughts and sympathies go out
to those who have been affected
by the fires.
www.propertyrentalsbrisbane.com FREE Information Guide For Landlords & Tenants
placed near other flammable liq-
uids so store them separately
from other potentially dangerous
chemicals.
Make sure your insurance is up
to date and adequately covers
your property and its contents for
bushfire damage.
If you're renting in a bushfire
prone area and you don't feel
your landlord has taken reasona-
ble steps to address the above,
talk to them about it. If you can't
get them to cooperate, speak to
your state or territory fire service
and see if they can assist.
Create a manageable evacuation
plan and share it with the people
closest to you.
Other important bushfire safety
tips
Don't shelter in your swimming
pool, as your head and other ex-
posed body parts will be suscep-
tible to radiant heat.
Don't empty your pool, as it can
be used as a water source for fire
brigades.
heated.
On code red days, take them with
you if you can, in safe transport
with water available. If you can't
take them with you, ensure they
have cool water, plenty of shade
and everything they need.
Remember they're even more
nervous than you are.
PREVENTION INSIDE THE
HOME
There's some things you should
always be doing to keep yourself
safe from fire that are extra im-
portant during the blazing heat of
summer.
1. Windows
Special safety windows can be
installed into homes if you live in
a bushfire prone area.
2. Smoke alarms
By law, every home must have at
least one smoke alarm on each
level. Make sure yours are tested
regularly - use the changeover to
daylight savings to remind you to
test and upgrade as required.
3. Deadlocks
You must evacuate if told to do
so by fire authorities (don't be a
hot head).
Have family/friends, treasured
possessions and pets on hand,
so evacuation is fast (part of that
escape plan).
Consider purchasing a portable
pump to use water from your
swimming pool or water tank.
Your property is precious, but
nothing is more important than
your life. If you are in mortal dan-
ger, take immediate action.
FOR THE PETS
Your animals are at high risk of
serious injury or fatality during
extreme temperatures, and if
bushfire strikes, they must be a
part of your plans.
Monitor their behaviour as it gets
hotter, and if show signs of heat
exhaustion (including excessive
panting, vomiting, salivation or
uncharacteristic aggression),
consult a vet right away.
Make sure they have plenty of
water and shade available to
them. Have wet towels on hand if
they become dangerously over-
www.propertyrentalsbrisbane.com FREE Information Guide For Landlords & Tenants
Some fatalities have been
caused by homeowners dead-
locking themselves inside the
house and then not being able to
escape from a fire. Ensure keys
to locked doors are easily acces-
sible by everyone; ideally, they
should remain in the lock, on the
inside.
4. Appliances
Don't overload power points and
switch off your appliances when
not in use. Apart from saving
your energy costs, this can help
stop a fire spreading and prevent
related outbursts.
5. Open flames
Never leave incense or candles
unattended and ensure cigarettes
have been extinguished com-
pletely before discarding.
6. Supervise vulnerable people
Keep an eye on the kids or any-
one else who might accidentally
start a spot fire or accelerate an
existing fire.
7. KITCHEN
Never leave a hot stove unat-
tended and double-check all
cooking appliances have been
switched off after use.
Keep tea towels, oven mitts,
hand towels and other flammable
items away from the cooking ar-
ea.
Face your pot handles inwards
when cooking to avoid being
knocked over.
Remember that water does not
extinguish oil or fat-based fires -
it can enhance them. Keep a fire
blanket or suitable fire extinguish-
er in the kitchen area (and in oth-
er high risk areas of the home).
WHERE TO GO FOR MORE IN-
FORMATION
Always check with local fire pro-
tection services to find warnings
or advice specific to your home in
your area.
Each region has a way for you to
check the latest updates and in-
structions about where to retreat
to in case of evacuation.
Keep safe out there! This isn't a
comprehensive plan, so make
sure you get expert advice for
your property, situation and loca-
tion.
Source : www.realestate.com.au
How to Protect Your
Investment Property Over
the Silly Season
With the Christmas season fast
approaching landlords need to be
very mindful about protecting
their investment property.
Liaising with our property manag-
er about the current tenancy sta-
tus to find out if their tenants are
intending to vacate in the near
future should be one of the first
things to consider.
It can prove difficult if a tenant
moves out of a property in the
week or two prior to Christmas as
it is often not easy to find a ten-
ant for a vacant property until
early January because no one
wants to move over the festive
period.
Secondly, landlords should en-
sure they have adequate insur-
ance cover over their property at
all times. Questions to ask in-
clude: Is there enough public lia-
bility cover included in existing
covers?
Does the landlord’s insurance
cover allow for varying circum-
stances of vacancy and malicious
damage? Are the contents of my
property (carpet, window furnish-
ings etc) covered with existing
policies? What are the excesses
that may be payable in different
situations?
Real estate agents and property
managers are not qualified to
give advice on insurance so it is
best to speak directly with an in-
surer regarding insurance poli-
cies or covers.
Choosing the right property man-
ager for your property is a big key
in the process of protecting your
investment. Landlords should al-
ways ensure they are aware of
an agency’s policies and proce-
dures regarding tenancies in are-
as such as: What is the agent’s
process when a tenant falls be-
hind in their rent? At what stage
does an agency contact the land-
lord regarding tenancy agree-
ment expiries?
The legislation that a real estate
agency and property manage-
ment department must abide by
outlines that a client must be kept
informed of all significant devel-
opments.
Some landlords prefer to know
what’s going on every step of the
way, while others may prefer to
www.propertyrentalsbrisbane.com FREE Information Guide For Landlords & Tenants
leave it up to the property man-
ager to handle. Whatever the po-
sition, a landlord should clearly
outline this when appointing a
property manager.
Also, if a landlord knows in ad-
vance that they will not be con-
tactable via the normal means of
communication they should ad-
vise their property manager of
alternate contact details through-
out this time.
Source : www.reiq.com.au (13 De-
cember 2012)
QLD Gives Green Light for
the Best New Building
Industry Regulator in the
Country!
Queensland has taken a major
step towards a new building reg-
ulator with parliament recently
passing legislation to allow the
creation of the Queensland Build-
ing and Construction Commis-
sion (QBCC)
Housing and Public Works Minis-
ter Tim Mander said that the
Commission will replace the
Queensland building Services
Authority (BSA) and will be re-
sponsible for licensing, dispute
resolution and the Home Warran-
ty Scheme, with internal divisions
firewalled from each other to pre-
vent any conflict of interest.
“This marks the beginning of the
biggest change to the way the
building industry is regulated in
more than 20 years,“ Mr Mander
said. “The building and construc-
tion industry is one of the pillars
of the Queensland economy and
with the passing legislation;
Queensland will soon have the
best building regulator in the
country.
“The new QBCC will strike the
right balance between consum-
ers and contractors and will help
build confidence in the industry,
whether that’s the confidence to
start or grow a business or a pur-
sue a career in the industry’.”
The new Commission is antici-
pated to be operational by the
end of the year.
Source : REIQ Journal (October
2013)
Renters and Rugs: Sun
Damaged Carpet – Who’s
Responsible?
The sun can fade carpet, as well
as curtains, blinds and other
household inclusions.
Gradual changes that happen
with ageing, such as unavoidable
sun damage, are generally con-
sidered to be fair wear and tear.
These changes can sometimes
be hard to notice, but if a tenant
sees that carpet in the rental
property has been sun-damaged,
it's a good idea for them to men-
tion it to their lessor/agent, so
they can consider what action
may be required immediately or
in the future.
Also, lessors/agents can also
look out for any changes to the
state of the carpet during their
general routine inspections.
Timeframes apply regarding rules
for entry.
Look out for any changes to the
state of the carpet during gen-
eral routine inspections.
The best way to avoid a dispute
about carpet at the end of a ten-
ancy is to make a note of the
condition of the carpet at the start
of the tenancy on the Entry con-
dition report (Form 1a or 1b).
It's a good idea to take photos to
confirm any comments made on
www.propertyrentalsbrisbane.com FREE Information Guide For Landlords & Tenants
the form.
At the end of a tenancy, tenants
are obliged to leave the property
and inclusions in the same state
as they were at the start, apart
from fair wear and tear.
Source : www.rta.qld.gov.au (5 June
2013)
Are You Missing Out on
Saving Thousands in Tax
Depreciation???
Properties which generate an
income for their owners are eligi-
ble for significant taxation bene-
fits.
For this reason, it is important
that every investment property
owner arranges a tax deprecia-
tion schedule to be completed
for their property.
Despite this, recent statistics
from the Australian Taxation Of-
fice (ATO) suggest only 30 per
cent of property investors claim
depreciation for available capital
works deductions, and just 18.75
per cent claim the deductions
available for the depreciation of
plant and equipment assets.
By claiming depreciation, inves-
tors can save thousands of dol-
lars every year when they com-
plete their annual tax return. The
additional funds from deprecia-
tion can also potentially help in-
vestors experiencing a negative
cash flow to turn their properties
into positive cash flow assets.
There are several reasons why
investors fail to claim deprecia-
tion. Some investors think they
are ineligible or that it isn’t worth-
while due to the age of their
property. Other investors have
only recently made their pur-
chase and think that because
they have only owned their prop-
erty for a short period of time,
the deductions they receive will
not be substantial enough to
warrant making a claim at that
point in time. Overall, a large
portion of investors are simply
unaware about property depreci-
ation or aren’t aware of all the
necessary details to enable them
to make an informed decision.
To assist investors, BMT Tax
Depreciation provides a range of
tools and resources to help edu-
cate investors about deprecia-
tion and to calculate the potential
deductions available from the
investment properties they own
or potential properties they are
considering purchasing. By help-
ing to educate property inves-
tors, BMT aim to ensure every
investor claims the maximum
deductions available to them.
BMT for property investors
BMT provides a dedicated page
for property investors on their
website, which helps to answer
any of the questions investors
have about property deprecia-
tion. The page provides some
general information about depre-
ciation, the role a Quantity Sur-
veyor has in preparing a tax de-
preciation schedule, what every
BMT Tax Depreciation Schedule
prepared will include for the in-
vestor, and information about
how long a schedule lasts.
www.propertyrentalsbrisbane.com FREE Information Guide For Landlords & Tenants
BMT Tax Depreciation Calcu-
lator
The BMT Tax Depreciation Cal-
culator is a handy tool property
investors can use to get an esti-
mate of what the depreciation
deductions from any existing or
potential investment property will
be. The calculations are based
on data gathered from thou-
sands of depreciation schedules
previously completed by BMT for
properties located right across
Australia. The calculator is avail-
able online or as a free App for
iPhone, Android or iPad. To
download, simply search BMT
Tax Calc on the App store.
BMT Resi Rates
BMT Resi Rates helps investors
to find out the effective life and
depreciable rate of any plant and
equipment asset contained in a
residential property. Resi Rates
aims to assist Property Manag-
ers and property investors alike
with disputes over damaged as-
sets, and can assist with mainte-
nance and replacement schedul-
ing. To download the App, simp-
ly search for BMTresirates on
the App store.
Regular news updates
Stay informed about the latest
industry news, updates on the
property market and tips on how
claiming depreciation can assist
investors on the BMT Tax De-
preciation Facebook, Google
Plus and Twitter pages as well
as BMT Insider blog. Simply visit
the BMT Tax Depreciation’s
website at www.bmtqs.com.au
and follow the links to like and
follow their updates.
For any inquiries or advice, in-
vestors can also contact one of
BMT Tax Depreciation’s helpful
staff on 1300 728 726.
Article Provided by BMT Tax Depre-
ciation.
Bradley Beer (B. Con. Mgt, AAIQS,
MRICS) is the Managing Director of
BMT Tax Depreciation. Please con-
tact 1300 728 726 or vis-
it www.bmtqs.com.au for an Austral-
ia wide service.
16 December Mid Month Accounting 25 December to 2 January Office closed for Holidays with skeleton staff during this time 2 January End of Month Accounting
A Selection of Properties Recently Leased
Paddington Townhouse $490p.w.
2 bed, 1 bath, 2 car accommodation
Quote “Fall down seven times, get up
eight.”
— Japanese Proverb
Windsor Apartment 450 p.w.
2 bed, 1 bath, 1 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 Helen [email protected]
www.propertyrentalsbrisbane.com PO Box 388, Paddington, 4064 Chelsea [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.
Chelmer House $840 p.w.
5 bed, 3 bath, 2 car accommodation
Calendar of Events