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Real People in Real Property
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Common Questions - Asked by Landlords

Does the tenant have to provide a receipt of professional carpet cleaning at the end of a tenancy? This term is not enforceable. As Section 69 of the Act states that ‘It is a term of a residential tenancy agreement that, at the end of the tenancy, the tenant must give the premises & ancillary property back to the landlord in a reasonable condition & in a reasonable state of cleanliness’. The issue at the end of the tenancy is whether carpets are left in a reasonable condition, not whether they’ve been professionally cleaned.

Can the tenant be responsible to prune fruit trees, vines, shrubs and dispose of all clippings during the lease? This condition cannot be enforced. A tenant is responsible to maintain the property and gardens in a reasonable condition. That does not include specialised work such as pruning, trimming of ornamental trees & shrubs. The pruning of fruit trees and rose bushes are also not the responsibility of the tenant. The tenant runs a grave risk of receiving a complaint from the landlord of inappropriate and inexpert trimming of permanent plantings.

 

When Times Are Tough...... Patience Pays Dividends

Two of the most common reasons that investors sell property include an impatience to realise the profits of their purchase or in times of uncertainty, a fear that a lull in the real estate market may be permanent.

Of course this is nonsense.

Fluctuations in the real estate market are cyclical and patient property investors understand that peaks and troughs are part of any long-term wealth strategy.  Residential Property is a distinct asset class and should be treated as such. The key is to think long term and to heed property investment fundamentals.

Twenty years ago you could buy a three-bedroom home in

Adelaide for around $100,000. Try finding one now! Thirty years ago that same home probably cost just $50,000! Little wonder then that property is the preferred option for many successful investors. It offers a greater degree of certainty when there is general instability in other investment markets.

Suburbs with consistently high rental demand and features that appeal to tenants including proximity to public transport and shopping will, in the long term, increase in value and attract good rental growth. Astute landlords are property investors that look at increasing the size of their property portfolio as their borrowing power increases with the rise in equity that accrues with capital appreciation.

When an investment has been wisely purchased and managed, holding the property, or properties long term will result in increased wealth. The best strategy is a planned property investment program formulated with the assistance of financial advisers.  Be guided by their input and determine a strategy that suits your individual needs and income.

Stay in touch with your consultant to access ongoing advice as your circumstances change. Review your outgoings each month and talk to your property manager and financial adviser about ways to keep these to a minimum. The money your property earns is often determined by how well it is managed.

For more advice about your investment portfolio including advice about the sale or rental of an investment property, or the opportunity to expand your investment portfolio, contact the Professionals Richmond Office.