n The rental market takes a dive but it's not as bad as the old day
It is no surprise that we would all share the burden of the Covid-19 fall-out both emotionally and financially. Property owners, tenants and property managers are all feeling the pain. Together with many of our long term clients we have endured rental market down turns in the past and had to deal with the many obstacles that arose. Do you recall back in 2003 when property owners were offering plasma TV's with every 12 month lease and with the launch of a new development a car was offered in a raffle to all new tenants. They were very trying times indeed and the vacancy rates were high and average vacancy period was greater then 6 weeks.
But this time around landlords are in a far better position than back then....Click here to learn more
n REINSW welcomes State Government $440 million package
Easter Sunday was the day the NSW State Government chose to release information regarding a lifeline for tenants and landlords via a $440 million package.
For residential tenants and landlords it would mean rent relief could be provided through a land tax waiver or rebate. Click this link to learn more.
n Sydney Water Customer Information
From 27 March 2020, the water usage charge will DECREASE from $2.24 to $2.11 a kL as the Sydney Desalination Plant is no longer supplying water for drought response. The Independent Pricing & Regulatory Tribunal (IPart) sets the prices for Sydney Water. For more information, visit www.sydneywater.com.au/ourprices
n Supporting our Clients through COVID-19
Strategic Property Management Services has taken several precautionary measures to ensure the health and safety of our staff, tenants and clients throughout the COVID-19 Coronavirus Pandemic. Like all community conscious businesses, our Principal and Management have been closely monitoring the rapidly evolving crisis and advice and directions from State and Federal Health authorities.
The health and wellbeing of our staff, and tenants, is our top priority. Management has made the decision, after careful planning and consideration, that our office staff will be working remotely from Monday 23rd March 2020. As another precautionary measure, a single team member will be at the office during our normal business hours. This will continue until further notice.
As a firm with digital innovation and with client care at the forefront, we have undertaken testing that ensures we are fully prepared for our team to work remotely and are able to provide our clients and their properties with the same levels of service that they have come to expect from us throughout the COVID-19 Pandemic.
Our staff have full access to our property management system, digital records and online safe custody of files and it will be business as usual when working remotely. We have made changes to the letting and general inspections procedures to ensure staff and tenant safety.
You can continue to contact us via email and phone and if required, our team will use our technology infrastructure when required to conduct virtual meetings.
We appreciate your understanding as we navigate this crisis and ensure we do all we can to maintain the health of our staff, tenants, your property and the community.
n Honans (Chubb) Landlord Insurance - Covid-19 Policy Update
Following the pandemic outbreak of Covid-19, there have been numerous questions and great uncertainty about policy changes to Honans Landlord Insurance policy (which is underwritten by Chubb). Does it still cover loss of rent, and if so what circumstances are excluded etc? To read the Honans (Chubb) Landlords Insurance response to COVID-19 Pandemic click here
n Changes to NSW Residential Tenancy Laws - took effect on 23 MARCH 2020
Residential Tenancy laws govern the tenant’s renting experience, while contemporaneously ensuring that Landlords can effectively manage their properties. The changes effected, seek to circumvent disputes arising over repairs and maintenance, increase protection and certainty for tenants and to clarify the rights and obligations of tenant and landlord parties. For more information, click here.
n Why Landlord Insurance is a MUST - make sure you are covered
From fire and flooding, to rental default and malicious damage, landlord insurance provides essential risk protection for both landlords and property managers. Click here to read more