The great rental alternative- forget Sydney come to the Peninsula

Forget Sydney, the great rental alternative- The Peninsula.

The NSW Central Coast is an economical alternative to the highly-priced Sydney rental market. The perfect place for families to put down roots, likewise generation Y and Z who wish to maximise the value for their rental dollar look to areas such as ours to call home.

 The peninsula is popular with renters as it offers easy access to Sydney & Newcastle via the M1 or Railway. Rental in Sydney is simply not cost effective when compared to the lifestyle choices afforded by the Coast. Great Cafe’s, awesome beaches, verdant parklands and the National Park to explore. We have fantastic schools, plenty of child care places and a local University and TAFE as well.

 A recent study (April 2017) undertaken by US-based internet listing service, RENTCafe has recently published their own research in their Global Financial Centres Index (GFCI) as to what it costs to rent in the world’s top financial cities. As far as financial cities go, Sydney comes in at number 11 on the list of 30 with London taking the top spot then New York followed by Singapore.

 The study looked at the cost of renting a one bedroom unit (approx. 55-85sqm) in a competitive environment with plenty of jobs available in the financial sector. Not surprisingly, Sydneysiders pay on average $672.00 per week in rent making it the 9th most expensive city on the GFCI ranking. When it comes to expensive rental costs, New York wins hands down with the average asking rent for a one bedroom unit in NYC coming in at $4,680 per month. The cheapest of the cities was Casablanca coming in at $820.00 per month.

 Meanwhile, here on the NSW Central Coast, we have a number of excellent properties for rent ranging from one bedroom granny flats through to large three bedroom houses with attached sleepouts for the teenagers. If you are looking for an area that facilitates easy access to work and plenty of opportunities to be part of an amazing community, then look no further that the Peninsula.

 

Passing on water usage charges – Tenant information

Passing on water charges – Tenant Information

 
It is March 2017, and it is water rate time for our clients. This also means that your property manager will be attending your property to read your water meter or flow meter if there is separate metering at the property.
 
Water bills should not be too high as the landlord has installed water efficiency devices to your property, these include:
*  Internal cold water taps and single mixer taps for kitchen sinks and bathroom hand basins a maximum flow rate of 9 litres per minute
*   Showerheads- a maximum flow rate of 9 litres per minute
 The requirement for sink and basin taps to have a maximum flow rate of 9 litres per minute does not apply to other taps in the premises, such as bathtub taps, laundry taps,    outside taps for the garden, or taps which supply washing machines and dishwashers.
 The water efficiency measures can be achieved simply by installing aerators or regulators to existing taps and showerheads and fixing any leaking taps on the premises.

 Only the water usage (volume) costs charged by the water supplier may be charged to the tenant. Other costs (fixed) on the water bill, such as water service or sewerage          services are payable by the landlord. 
 Once we have read the meter, or received a Council reading on a water rate for single metered premises, we will send you out a copy of the water charges. Under the Tenancy Act, we have to provide you with 21 days in which to pay the water account.
 The easiest way to pay is to schedule an extra amount on your weekly DEFT draw. If you would like to do this, please email david@tppre.com.au.
 

 

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Those excellent Arial shots but are they legal?

Those excellent Arial shots but are they legal?

 

Arial photography certainly has its place in the real estate marketing. An Arial view captures a ‘bird’s eye view’ of a parcel of land and the structure that sits upon it. These days, many vendors have by-passed commercial operators and have turned their hand to some homemade Arial photography on their properties for marketing.

The key thing to remember if you are thinking about using a drone for Arial photography or surveillance is that drones that are more than 2kg must be registered with the Civil Aviation Safety Authority (CASA). Moreover, the operator of the drone needs to have an Operators Certificate before they can start flying the drone in public air-space.

 For our novices out there, if the drone is less than 2kg you are permitted to pilot the drone during the daytime in so long as it remains in your line of sight, is no more than 400 feet from the ground and is more than 30 metres away from the people then you are set to go.

 Central Coast Council does have the power to ban drones in public areas such as beaches or parks.

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Can a landlord contract out of personal liability?

Can a landlord contract out of personal liability

Recently a landlord that had transferred their management to our agency inquired as to whether they could insert a special condition in the lease that would excuse the landlord for any claim made by an occupier for personal injury.

The short answer is NO.

The tenancy legislation states that the lease must not contain terms that are prohibited, one such exclusion is the requirement that the tenant must take out a specified, or any, form of insurance.

The Act goes on to specify that a landlord’s agent must not enter a contract or other agreement with the intention, either directly or indirectly, of obtaining an exclusion from or indemnity for personal liability for any act on behalf of the landlord that renders the landlord’s agent liable for an offence under the Act.

It should also be noted that the Tribunal has the power to make an order declaring that a term of a residential tenancy agreement is void or partly void if they are satisfied that the term is inconsistent with any term included in the lease by the Act or Regulations.

If you are a landlord and would to know about how the risk burden of personal injury can be shifted , then call any make an appointment with one of our property managers.

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Office Mascot caught napping on the job

Mascot sleeps while humans work

The latest paparazzi photos hot off the press show the behind the scenes of the official mascot of The Property People (Peninsula). Miss Maggie-May has been caught red handed ‘napping on the job’. This has come as a huge shock to anyone who doesn’t know Maggie-May.

 A spokesperson who wishes to remain anonomous had confirmed that the photo is a true representation of the office mascot and her apparent disregard for the ‘no sleeping at work’ rule.

 The unnamed source had further complained of the four legged furbaby hogging the space surrounding the property officers chair and had stated that snoring was becoming a real issue, especially when staff were on the phone.

 There had been further speculation that shortly after this photo was snapped that a potato chip packet was opened at the other end of the office and that Maggie-May immediately jumped to her feet, tail wagging and went about finding the source of the chips in an attempt to procure one (and by one we mean the lot).

 Maggie-May was approached for comment, but simply replied with ‘woof’ and then she rolled over and went back to sleep.

 

ZZZZ ZZZZ    ZZZZZ   ZZZZZZZ

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Rental Returns- Can you double your income ?

Rental Returns- Can you double your income?

Granny Flats and Cabins

Particular to the Central Coast Peninsula is the influx of the legal granny flats. Particular in that the Peninsula has always been a wash with ‘cabins’ because of the prevalence of rear lanes. As a general rule, Granny Flats are legal developments, and ‘cabins’ are illegal. Sometimes you may hear cabins described as ‘sleep-outs”.

Granny flat developments are built under the NSW State Environmental Planning Policy (SEPP). The SEPP has brought about the demolishing of a lot of the old illegal ‘cabins’ and seen them replaced with brand new stylish two-bedroom granny flats. The banks happily finance these granny flats, and on average cost between $110,000 – $150,000 depending on the style of the granny flat. Rental returns are between $350pw- $400pw depending on the finish and the inclusions.

 

So, what are these Granny Flats you may ask? A granny flat is self-contained accommodation within, attached or separate to an individual home. A private certifier can certify granny flats as a complying development without the need for a development application to Central Coast Council, provided they meet the specific development standards in the State Environmental Planning Policy (Affordable Rental Housing) 2009.

 

The cabins are often converted garages. They are often constructed from building materials made from asbestos and have inherent issues with air-flow and size. The ‘cabins’ do however have their place socially in that they are significantly lower rent than a granny flat and meet the needs of many financially disadvantaged people living on pensions or seeking low cost housing. We may add that they are not all bad, many are well built prior to the SEPP when Council ruled the roost.

 

The new granny flats are also used by property owners who wish to house their early adult children or elderly parents. The provide a vehicle for people to stay at home with family in a property market that is increasingly out of reach for many Australians.

 

If you are thinking of building a granny flat and would like some free advice as to rental returns and the type of tenant that could be located, then contact one of our property managers for a free no obligation rental appraisal. It is possible to significantly increase your rental return through the construction of a granny flat.

 

More information is available here:

https://dpe-files-prod1.s3-ap-southeast-2.amazonaws.com/s3fs-public/documents/2016/May/Granny_Flats_Generalinformation.pdf

https://dpe-files-prod1.s3-ap-southeast-2.amazonaws.com/s3fs-public/documents/2016/May/Granny_Flats_Building_Articulation_Corner_Lots.pdf

https://dpe-files-prod1.s3-ap-southeast-2.amazonaws.com/s3fs-public/documents/2016/May/Granny_Flats_Building_Heights_and_Setbacks.pdf

https://dpe-files-prod1.s3-ap-southeast-2.amazonaws.com/s3fs-public/documents/2016/May/Granny_Flats_Privacy_Requirements.pdf

 

 

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Ettalong Beach Rental Returns

ETTALONG PRICE PROPERTY UPDATE 1ST QUARTER 2017

Ettalong Beach rental returns.

 

According to the latest figures compiled by realestate.com.au the Annual growth for Ettalong Beach was 13.3%. The median property price is $650,000, the median rent is $380.00pw, the rental yield is 3.0%.

Ettalong Beach is an exciting area to watch as many expect that property prices will appreciate with the changing character of the pretty seaside village.

The new Atlantis development on the Esplanade has reportedly been selling fast. The new development will enliven the area with new cafes and restaurants. It will also provide employment opportunities for many locals.

However, if you don’t have a cool $650,000 to buy another investment then some other areas are delivering results.  Investors looking for higher rental returns have headed to regional areas, that often do not enjoy the same capital gains as Sydney and the Central Coast.

Areas such as Broken Hill enjoyed a rental yield of 11.6% and a median house price of $108,000. Boggabri was another regional area that faired well with a rental yield of 8.9% and a median house price of $175,000.

If you are thinking of purchasing another investment property on the Peninsula, even if you buy through another agent, we can assist you with a rental appraisal and the management of your new investment.