Wagga Wagga Blog

Making the decision to become an Investor can be somewhat daunting, there are many rules and regulations you must ensure you follow to protect yourself, the tenants and your property.

Selecting the right Property Manager will certainly make the process less stressful by overseeing the entire process for you. There are many misconceptions about Landlord rights and responsibilities, we thought we would share some of the most common.

 1. Receiving rent payments on time

Landlords have the right to receive the rent on time, where the rent is a few days late, the landlord can send a reminder notice. If the tenant is more than 14 days late the landlord can issue the tenant with a termination notice which means the tenant is required to vacate the property within 14 days of the notice. If the tenant pays the rent they owe within the 14 days of the notice they do not have to vacate the property. In the event the tenant does not pay their rent and refuses to vacate the property, the landlord can apply to NSW Civil and Administrative Tribunal for an order to remove the tenant from the property.

2. Entry onto Premises

As a property owner, the landlord has the right to enter the property for reasons including to inspect the property, for repairs and maintenance and for showings if the property is for sale/lease. Notice periods apply

3. Water Charges

Landlords are allowed to pass on the water usage charges to a tenant as long as the property has its own meter, and the property meets the water efficiency standards. Where possible Water Efficiency tests should be carried out by a plumber to ensure accuracy and install any water saving devices should they be required.

4. Bond and Advance rent

In all cases where a new tenancy is entered into, a landlord has the right to collect 4 weeks bond and 2 weeks rent in advance.

5. Subletting

A landlord may withhold consent to sublet or transfer a tenancy for the following reasons:

- If the number of proposed occupants is more than allowed by the Tenancy Agreement

- The proposed tenant or sub-tenant is listed on a tenant database

- The landlord reasonably thinks that the premises will become overcrowded

6. Evicting a Tenant

Landlords have the right to legally have their tenant evicted if the tenant damages the rental property or is in breach of the tenancy agreement

7. Choosing a Tenant

The landlord has the final decision in the selection of a tenant. The agent will select multiple applications and have all details of the potential tenant/s readily available to explain if the applicant will be acceptable.

 

There are many advantages of establishing a property portfolio, always remember to seek advice from a professional before entering into any agreements. Just as the landlord has rights and responsibilities, so does the tenants and it is important to ensure you are adhering to all legislation for your own protection. 

Jenna Spowart - Licenced Real Estate Agent & Property Management Team Leader