When you're thinking of selling an investment property in Hervey Bay or Maryborough, it's important to understand your tenant's rights, and your responsibilities as a Lessor. Working with a residential sales agent who is focused on selling investment properties can reduce your risk of non-compliance.
Although you may already have a relationship with a property management agency in Hervey Bay, it's important that you choose to work with a residential sales specialist like Julian Gregson, who is focused on ensuring your tenant's legislated right of 'quiet enjoyment' throughout the sales process.
'Quiet enjoyment' simply means that your tenant is entitled to reasonable peace, comfort and privacy in the property, and must be able to make full use of the property, even while listed for sale.
To ensure that you're compliant with legislation when selling your investment property in Hervey Bay or Maryborough, Julian Gregson will liaise with your current property management agency, and issue your tenants with a Notification of Lessor's Intention to Sell Premises (Form 10), well prior to advertising, erecting signage, or taking photographs, as required per section 198 of the Residential Tenancies and Rooming Accommodation Act 2008 (the act).
Although the act requires entry to the property to be no sooner than twenty-four hours prior to intended entry, Julian Gregson will work to prevent such short notice, and will work with your tenants to organise times that consider their needs.
Julian will obtain permission from the tenant to photograph personal possessions (or remove them from photographs digitally). Julian will negotiate with your tenant to reduce the disturbance to their quiet enjoyment by obtaining their consent to show multiple prospective buyers through the property at once via an open home.
Additionally, The Residential Tenancies and Rooming Accommodation and Other Legislation Amendment Bill 2024 (the bill) introduced rental law reforms on the 23rd of May 2024.
The bill requires that when selling an investment property, the rental value charged to the tenant is now attached to the property, instead of the tenancy, and must not be increased within twelve months of the last rental increase, regardless of any change of lessor or tenant. Therefore, it is important that you engage with an expert like Julian Gregson who will provide prospective buyers with factual information regarding possible rental returns from the property, avoiding any speculation or misleading advertising about potential future incomes.
Of course, it's also of the utmost importance that property management continues at the property immediately upon settlement, so Julian Gregson will always encourage the buyer to put an appropriate property management agreement in place with a reputable local property management agency, as soon as the contract becomes unconditional (well prior to settlement) ensuring your tenant's tenancy is protected.
To easily sell your investment property in Hervey Bay or Maryborough, simply contact Julian Gregson to get the ball rolling.
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