Tasmania landlords now barred from increasing rents in six month intervals; But landlords may now evict tenants on a non-fixed lease if a family member of the landlord wants to move in
Tweet Topic Started: 14 Oct 2013, 12:44 PM (2,048 Views)
Landlord obligations will severely tighten in Tasmania following amendments to the Residential Tenancy Act being passed by parliament last month.
Landlords are now barred from increasing rents in six month intervals, are required to maintain tenanted properties to a minimum level and must give tenants six weeks notice of eviction.
According to the Tenant’s Union of Tasmania tenanted homes must now be
Weatherproof and structurally sound Clean and in good repair Equipped with bathroom and toilet Serviced with a kitchen sink, hotplates and an oven (which can be a microwave) Supplied with electricity and one fixed form of heating Provided with curtains (except properties owned by Housing Tasmania) Adequately ventilated
Landlords are now barred from requiring tenants to pay fees to lodge rent.
They may only increase rent in 12 month intervals, up from 6 months.
Landlords must provide 42 days notice for an eviction at the end of a fixed term lease, up from 14.
And landlords may not take photos of properties that identify the tenant.
But landlords may now evict tenants on a non-fixed lease if a family member of the landlord wants to move in while tenants must now give 21 days notice of leaving at the end of a fixed term lease.
According to Tenants Union Victoria the new amendments to the Act will likely commence on July 1st 2014 with some of the minimum standards coming into force as late as 2017.
i was looking at a cheap part of Tasmania recently and was gobsmacked by some of the yields in the region.. there were absolute shit boxes being leased which would have been well positive geared from day one. In my view buying one could form part of a bearish risk management strategy. If i was in a different position i would probably buy one.
I see the bulls are avoiding this thread like the plague!!! Definately not a good precident set there.
Mel did you answer my question about central bank gold buying?
It isn't setting any precedent that I can see. Just catching up to current practices elsewhere. The world has moved mostly to 12-month leases and no rent increase mid-lease. As for the minimum standards, it essentially impacts nothing much.
As for the CB gold buying, given that the CBs are buying and the price of gold is falling, what happens if they decide to stop buying?
The truth will set you free. But first, it will piss you off. --Gloria Steinem AREPS™
i was looking at a cheap part of Tasmania recently and was gobsmacked by some of the yields in the region.. there were absolute shit boxes being leased which would have been well positive geared from day one. In my view buying one could form part of a bearish risk management strategy. If i was in a different position i would probably buy one.
Can you give some tips where Mel? I'm not flash/like 'shit boxes' well enough - Live in one as it happens. 'N I've made no secret of the fact I'm thinking of buying. But as a family member has expressed interest in going halvies in one up here in SEQ, it's likely I'll have some extra cash that will need a 'home' ...
'N Brissie IS actually a tad hot for me. So I've toyed with the possibility of eventually calling Tassie home someday maybe?
Re the OP: I can't see anything there that would cause a genuine LL to bark?
A Professional Demographer to an amateur demographer:"negative natural increase will never outweigh the positive net migration"
i was looking at a cheap part of Tasmania recently and was gobsmacked by some of the yields in the region.. there were absolute shit boxes being leased which would have been well positive geared from day one. In my view buying one could form part of a bearish risk management strategy. If i was in a different position i would probably buy one.
My worry about Tassie is the demographics. The population is not growing. If a place is not becoming more relatively desirable, then you *need* a much higher yield to make it a real proposition. Same with regional areas. If the town is shrinking, you probably need 10% gross yield or even more.
The truth will set you free. But first, it will piss you off. --Gloria Steinem AREPS™
ACT has had yearly increases capped for years. I had a case where I thought the rent was too far below market, so I simply told the tenant we needed to rebaseline their rent, to which they agreed. If they hadn't, I would have replaced them at market rent.
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