Government Crackdown on Landlords: Are You Prepared for These New Property Laws with Leanne Jopson
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- Опубликовано: 15 сен 2024
- Today’s episode of the podcast is special because, if you're a property investor or planning to become one, we're going to uncover some shocking new rules that could cost you thousands, something all investors need to know, but we've found many don't know.
So I'm going to be chatting with the National Director of Metropole Property Management, Leanne Jopson, and we're going to talk about some of these new legislative changes.
Now, I'm sure you're aware the governments have implemented a series of legislative changes. State governments are seeming to change the rules over and over again. While the intention is to protect tenants, they've placed a much greater burden on landlords and property managers alike.
We're going to talk about government interference and some of the legislative changes, some of the burden of compliance, and I bet you didn't know the fines that you could face if your property doesn't meet minimum standards. I'll talk a bit about the rental markets and we're going to explain what you need to look for in a property manager.
Links and Resources:
Michael Yardney
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Leanne Jopson - Director Metropole Property Management
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Shownotes plus more here: Government Crackdown on Landlords: Are You Prepared for These New Property Laws with Leanne Jopson
Crazy legislation in Victoria. No wonder there is a lack of supply.
Like there would have been more supply of these rules weren't there. Lol
Is that migration policy?
@emp731 you are really obsessed with migration, aren't you? That's not the topic of today's discussion. Why not stick to the topic and make a sensible comment?
@@MichaelYardney Agree, its the coon factor i think, emp731 is right.
The govt has eroded the owner's rights to such an extent in Vic that the question is WHO OWNS THE PROPERTY? It's so farcical which is evidenced by the requirement of a Stat Dec with a 'valid' reason to evict a tenant. Another example has my agent currently dealing with a tenant that refuses to vacate the property even though they have been issued with a notice that the landlord intends to sell the property. So the whole process is on hold until the case goes before VCAT which can take anywhere from 6 to 18 months. The pendulum has swung so much in recent times, that I firmly believe the death knell in Vic for investors will be the impending legislation due next year for the transition from gas to electricity. With reports of costs anywhere up to 20K, I can't see a Landlord hanging around! I'm not sure how all this demonising and penalising of the very people that provide around 80% of the product will be a positive? Every time the govt meddles in this space, things just get worse!!
Nobody owns property in Australia..
@@emp731 Agree, but the bank isn’t giving you that impression.
@m2comp369 thanks for your comment. We are in interesting times.
Who’s the governments going to blame when a majority of investors leave the market ??
That’s going to make it really spicy.
Next it will be greedy homeowners 🤷♂️ how dare they own a home.
Tall poppy syndrome alive and well. Heavens forbid if someone tries to better their life and provide housing. They will definitely cry when investing slows down.
@@anthonyroberts7641 totally agree, they bring the Victorian laws into NSW and I’ll be selling up and retiring early.
The "Politics of Envy!"
The government will continue to blame investors for the mess they created. Don't forget, if investors are making money. Ol' albo wants a cut. There is no free lunch in property investing for landlords.
@anthonyroberts7641 Well said 🤓
There’s going to be a lot less rental properties and no six month leases , less property equals higher prices
More tax revenue to the Budget coffers🥳
@craigmooney2630 Well said 🤓
@@MichaelYardney
I used to think it was a win/win situation “ no more
Land tax , Rates , water rates , 7% property management fees, maintenance 😩, not worth it anymore
@@craigmooney2630 thanks for your thoughts, however somebody is going to have to supply the rental accommodation that our government isn't, and lack of supply will only mean an increase in rent. by the way, I don't think that's good for the Australian housing markets, everyone should be able to afford accommodation
I am unemployed n i want to rent a property in toorak
Please do not discriminate me
I sold up in Canberra few years ago and paid my house off and retired. Canberra has a very strong Greens and tenant activist group down here and it kills us with all the regulations and also the land tax is at crazy amounts.
It's just not worth being an investor and i personnel prefer my money to be in shares or super. No idea what crazy new reforms will appear down the track which will cost you more and will have to be pasted onto the tenant.
🎰
@coffeehouse44 yes the greens have some "interesting" ideas -they were initially voted in on the platform of climate change but now that everyone is agreed to that, they have to find a different lobby
Sorry I had to drop half way through. Sorry, I had to drop half way through. The topixs were very i.portant but the sound quality of Leannes connection made it very hard to understand.
Watching from WA. Great work Michael 👍 With all the legislative changes occurring and going to occur, does that mean we should look at selling investment properties when we reach retirement? Just seems like holding investment properties is becoming too difficult and having access the additional funds and possible access to the aged pension is much easier and simpler
Get maximum rents to pay for upgradings and maintenance
It’s time to have the owners brought to justice, they had it to easy for too long. Owners are ripping off renters, people having to live in terrible conditions. Fair Trading takes for ever as they are in the owners side
Landlords are subject to rules...
Why not buy own house or move to a more affordable suburb?
Landlords are not greedy . They have expenses of skyrocketing state land taxes, landlord insurance, council rates, water rates, safety compliance checks, repair costs up, bank loan rates up-
The state government is the silent partner landlord in any rental property
Could you do an episode on the baby boomer all being close to retirement age and how that could affect the rental market as they sell out and have other uses for that cash. I have also been enjoying your chats with Simon K about demographics.
@coffeehouse44 - that will be an interesting topic for the demographics decoded podcast
This was possibly the worst infomercial I’ve ever heard. Literally, that display of outpourings from a property manager is exactly why I self manage. These people constantly have their hands in your pocket citing everything you’ve heard here, plus.
Get this through your head, no one is going to care more about your money, more than you, so get educated about self management. I have 6 properties under self management. It’s not hard and with interest rates where they are, it’s Essential.
This was a sorry display for Metropole Michael. It’s pathetic to have an employee behave like that to gain customers.
@nq6417 it's interesting that you self manage, I hope you're up-to-date with the over 200 changes to the legislation over the last year or so
@@MichaelYardney Being invested in the one market, WA, has its downsides, but the upside is that I am an expert in self managing. I’m able to keep myself up to date with the changes because I’ve made it a focus.
Also, WA has been the most sensible with these changes too. Again, nothing I can’t manage and I bet most could, if they decided to make there portfolio a focus.
@@nq6417 well done for being an expert in your field. It'll be interesting to see what they just have changes occur in W.A.
@@MichaelYardney the construction of your sentence leaves me questioning things, but I am guessing you are asking about the legislative changes. Anyone can update themselves at commerce.wa.gov.au/consumer-protection/wa-rent-reforms.
Then it’s up to the Individual to implement those changes as they pertain to their properties. I self manage standard family and rooming houses. The implementation of these changes is very different in each home structure and up to the individual to ascertain if it’s within their skill set to implement.
No one can do better than me, including any property manager, at ensuring my tenants are getting the best value for money, within the boundaries of the law, simply because it’s my investment.
I implore all investors to take their investment that seriously.