Boarding House (BH) Sector Update: 1. Amendment to the ARHSEPP 2009 passed. The NSW government has just passed its second amendment to the Affordable Rental Housing State Environmental Planning Policy (ARHSEPP) 2009, pulling back planning concessions for ‘New Gen’ Boarding House developments. This change now sets a 12 room maximum to boarding houses in…
NSW Opposition Leader Michael Daley has vowed to end “no grounds” evictions in the first 100 days of a Labor government, despite a recent tenancy law review recommending against it. Mr Daley on Wednesday said Labor would stop landlords from evicting a tenant without reason, introduce five-year tenancies and limit rent increases to once a…
Media release: Focus on holiday home rentals https://www.ato.gov.au/Media-centre/Focus-on-holiday-home-rentals/ Is your property genuinely available to rent? 1. Advertise the property Advertise the property to a wide audience. Advertising through a real-estate agent or an online site is not always enough evidence to demonstrate that a property is genuinely available for rent, and nor is advertising locally…
When Sydneysider Caitlin Hession bought her Brunswick apartment off the plan in 2015, she thought she was making a smart financial move – Melbourne properties were much cheaper. She packed up and moved south, and after living in the apartment for over a year, signed a lease in Windsor to be closer to friends – and rented out…
New guidelines about standards for rental properties will remove ‘slum’ landlords from the market. or residential property investors and landlords who want to maintain the value of their assets, keeping things in good order as far as the condition of their property is concerned is usually a priority. There is current discussion from tenancy stakeholders…
DEVELOPERS will foot the bill for new schools, parks and road upgrades to ease the pressure from thousands of new units planned for the inner west. The State Government has released plans to pass the responsibility of paying for new infrastructure in rapidly changing suburbs to the developers who are set to cash-in from rezoning…
Fears Australia’s housing market would suffer if landlords faced increased regulation are unfounded, an international review has found. In countries with similar incentives for mum and dad investors, stronger regulations protecting tenants did not lead to a big drop-off in investors or subsequent house price falls, according to a new Australian Housing and Urban Research Institute (AHURI) report. The view…
House prices slowed down, rents in capital cities became more unaffordable and interest rates remained unchanged in 2017, but what will happen in 2018? As we move into a new year and a quieter housing market, these are the things you need to know. 1. US rate rises will make your mortgage more expensive The…
A Sydney unit owner who became a monk, renounced all his earthly possessions and vanished to Malaysia has ended up doing all NSW apartment owners a huge favour. His Darlinghurst building’s owners corporation spent 12 years and over $60,000 trying to track him down to force him to pay his amassed strata levies totalling more…