From 1 July 2019, all residential rental homes are required to have insulation installed and meet the requirement of Residential Tenancy Act .Landlords are responsible for ensuring that insulation is installed in the home and that it meets the Residential Tenancies Act requirements.

From 1 July 2016, all landlords are required to provide a statement on new tenancy agreements about the location, type and condition of insulation in the home for any new tenancy.

Failure to comply with the regulations is an unlawful act, and the landlord may be liable for a financial penalty of up to $4,000.Tenants who have a concern about the condition, quality or performance of the insulation in their home who are unable to resolve the issue with their landlord can take a case to mediation and/or to the Tenancy Tribunal. If an agreement can’t be reached through mediation, the Tenancy Tribunal can issue a work order, and order the landlord to pay a financial penalty if they provided misleading information in the tenancy agreement. For insulation (and other health and safety requirements), landlords will not have the option to pay the tenant(s) money or reduce rent instead of completing a work order.

Sales values have moved rapidly in recent times. Not knowing the value of your investment property could be costing you money and the opportunity to expand your property investment portfolio.

Are you aware of the equity that you have in your investment property which you might be able to use to buy another property (notwithstanding the new LVR Rules)?
We can help you to find the answers to unlock the growth potential that your property holds.
If you have substantial equity in your current investment property, there is a chance that you may not have any out of pocket expenses when purchasing another one.
We have found that many investors are unaware that the value of their investment property has increased to the extent that it can enable them to increase their net worth.
Simply call our office to arrange a market assessment of your property. We can assist you with providing the current rental history which you can give to your accountant and lending institution. Tap the equity in your investment property to enable you to purchase another one.
Even if you do not have sufficient equity in your property today, being aware of its current value can assist you into the future.

Now is the time to check the extent of insurance cover that you have on your investment property.

Things to check are:

1) The extent of cover. Does your policy include building, contents (in the case of a unit), legal liability, loss of rent and malicious damage?It is wise to insure your investment in the event of a natural disaster, storm damage, defaulting tenant or fire.

2) What is covered by the body corporate? Most investment unit owners are under the impression that the body corporate insures their unit. This is not the case. The body corporate insurance extends to common areas only. This means that you need to make sure that window furnishings, fittings, paint and any and all appliances etc. are adequately covered in your policy.

Irrespective of whether your investment property is a home or unit, townhouse or villa, we strongly suggest that your insurance cover includes building, legal liability of at least $20 million and loss of rent in the event of a rent default and malicious damage at the end of a tenancy.

As your managing agent we can assist you in effecting a landlord insurance policy that suits your needs.

For a modest premium, landlord insurance cover gives you peace of mind that your investment property is adequately insured.