PALM BEACH

FROM THE PROPERTY MANAGEMENT TEAM

07 5534 6044

WHAT IS YOUR PROPERTY WORTH?

GUESS OR KNOWDo you know the current value of your property?You may be surprised to discover that you have much more equity in your property than you thought.Call us today for an obligation free written market appraisal.We are here to assist you.

UNCLAIMED MONEY

$1.1 BILLION IN LOST MONEY

Did you know that ASIC is hold-ing more than $1.1 billion in lostmoney and you can search andfind any name (an old relative or family member) and make a claim at the click of a button?HAPPY MONEY SEARCHINGhttps://www.moneysmart.gov.au/tools-and-resources/find-unclaimed-money

ENDING AN AGREEMENT EARLY!In some circumstances, a tenant may seek to break a fixed term agreement and vacate the rental property before the end date of their tenancy agree-ment.The Residential Tenancies Authority always encourages tenants and property managers/owners to communicate early and often in the lead up to the tenant vacating.

Rent is payable while the tenant remains in the property as outlined in their tenancy agreement. If the tenant gives notice to leave, vacates and hands the keys in before the end date of a fixed term agreement, they may be liable to pay compensation for loss of rent until the premises are re-let.

The tenant may or may not be charged for other associated reasonable re-let-ting costs incurred by the property manager/owner, such as advertising costs. With any claim for compensation, the property manager/owner has an obliga-tion to mitigate losses, for example, by advertising early and finding a new tenant within a reasonable timeframe.How the compensation or loss of rent is paid should be negotiated between the tenant and the property manager/owner. This may be done on a regular basis until the property is re-let or in a lump sum at the end of the tenancy. In some instances, the parties may agree to deduct these costs from the rental bond.If the tenant is paying compensation for loss of rent for a long period of vacan-cy, the tenant may request evidence of mitigation actions carried out by the property owner/manager, including what steps are being taken to promote the property and the number of inspections carried out.A high level of communication during this time will help both sides understand their responsibilities and reach an agreement on any compensation being paid between the parties.In the situation of excessive hardship, such as loss of employment or domestic and family violence, the tenant can make an urgent application directly to the Queensland Civil and Administrative Tribunal (QCAT) to end the tenancy with-out penalty or further costs.

Remember, should a property manager/owner wishes to terminate a fixed term agreement early, the tenant can seek compensation. This may include a finan-cial contribution to moving costs.More information about ending an agreement early can be found on the RTA website.

PALM BEACH

IMPORTANT: This is not advice. Clients and customers should not act solely on the basis of the material contained in this newsletter. Items herein are general comments only and do not constitute or convey advice per se. The newsletter is issued as a helpful guide to clients and customers and is for their private information. Every effort is made to ensure the contents are accurate at the time of publication. We take no responsibility for any subse-quent action that may arise from the use of this newsletter.

PROPERTIESRECENTLY RENTED!

Keeping you up-to-date on the local market:

07 5534 6044

PROPERTIESRECENTLY SOLD!4 Kingfish Court, Palm Beach

14 Merauke Avenue, Palm Beach1/14 Bali Avenue, Palm Beach

407/1 Twenty First Avenue, Palm Beach1/1 Boodera Road, Palm Beach

PRDnationwide Property Management

PRDnationwide House40 - 42 Palm Beach Avenue

PALM BEACH

Ph: 07 5534 6044Fx: 07 5534 6022

sarahryan@prdpalmbeach.com.au

ROUTINE INSPECTIONS!WHY DO WE DO THEM?

Sarah Ryan

Routine inspections are a vital part of our service offering to reduce potential risk, maximise income and optimise long-term capital growth.We conduct routine inspections for the following reasons:* To connect with the tenant and obtain their feed back on the property;* To prompt the tenant to clean the property;* To ensure that the tenant is caring for the property in accordance with the tenancy terms;* To provide landlords with feedback on maintenance and repairs required;* To ensure that the property is safe for the tenant to reside in;* To keep landlords up-to-date on future renovations and improvements required;

It is important to ensure that the property is well-maintained and presented in a clean and tidy condition to protect your investment and reduce the possibility of a litigation claim should there be a slip and fall.

VISUAL INSPECTION ONLYAs your managing agent, it is our obligation to visually inspect the property only. We are not licensed ‘professional experts’, such as building, pest, electrical or pool inspectors.When carrying out an inspection we visually look for:Leaks that can lead to secondary damage, unsecure doors, locks and/or windows that are not working, tears or ripples in carpets, fixtures and fittings not working, marks, chips or holes, care of the gardens and the overall condition and presentation of the property (just to name a few).A copy of the routine inspection report and photos will be forwarded to all landlords. It is important to review this report and act on any repairs or main-tenance that may be listed in a timely manner.We strongly recommend that professional experts undertake the necessary tax-deductible annual inspections to protect your investment.

4/1187 Gold Coast Highway, Palm Beach $480705/11483 Gold Coast Highway, Palm Bch $3809/57 Leyte Avenue, Palm Beach $4302/79 Fifth Avenue, Palm Beach $51014/1444 Gold Coast Highway, Palm Beach $260

TALK TO THE PROPERTYEXPERTS

BUYING, SELLING &PROPERTY

MANAGEMENTPlease call us if you are

thinking aboutbuying or selling or

know of someone that is.

Ph: 07 5534 6044