Legal Liability Insurance, Smoke Alarms and Pool Compliance are just a few of the Legislation requirements that you need to be aware of as a property investor.
Smoke Alarm Legislation
As of 1st May 2006, legislation states that all NSW residents must have at least one working smoke alarm installed on each level of their home. As a Landlord you are required to install and maintain the smoke alarms at your property, and not interfere with the operation of them unless reasonable excuse to do so. One of the most efficient ways to manage this requirement is to allow our Agency to organise our Contractor to inspect and maintain them.
Landlord Protection Insurance
Without wanting to alarm you, we feel that it is important to remind you that owning a residential rental property comes with some risks. We endeavour to minimise those risks, however sometimes they are out of our control. We cannot foresee the future and a change in peoples circumstances could result in substantial financial loss for you as a Landlord. These risks can be covered by purchasing Landlord insurance.
The NSW Government has introduced new pool safety laws which will affect lessors, agents and tenants in rental premises with a pool or spa. The new laws commence on the 29th April 2015 and are administered by the Shoalhaven City Council Planning & Development Services group. Under the new laws, pool safety certificates from a licensed pool inspector must be obtained before the 29th of April 2015 and a copy must be given to the Agency before entering into an agreement. This obligation applies to new fixed term agreements as well as renewals.