NOVEMBER 2022 NEWSLETTER
A WORD FROM OUR DIRECTOR
Trends continued through November with consistent property sales, albeit there have been some adjustments with some property prices. There have been more properties coming on the market this month giving buyers a little more choice, we are very mindful of competition and pricing at the moment which has created more of a buyers market. We believe the tide will change early in 2023 with interest rates slowing down and possibly retracting. We’ve had a really busy month, raising funds for Movember with our PH Property team raising over $2,000 and achieving some physical challenges we set ourselves. Brad, along with Neil Macdonald and their wonderful committee for Bendigo’s Biggest Ever Blokes Lunch raised over $120,000 on Friday 18th November with their annual day raising awareness for Prostate Cancer and general means health and well-being. The day was sold out, Dermott Brereton and Des Dowling entertained the crowd, Brad and Matt Bowles conducted the auction. In other fundraising news, we worked on selling Poppies with our fellow real estate agent at Bendigo’s Original Pie Shop corner – it is always a great effort with many of Bendigo’s real estate agents teaming up to help out. In the new year, we will be saying goodbye to Jacky Johnson who is spending another year in the NT and is trying a different career path for her last year there. Jacky will be missed not just with her role and work ethic, but her office banter – even from afar! Our property management team led by Cat Beecroft is going really well, all of our properties have met the new compliance, minimum standards and safety responsibilities set-out by the State Government. We have a feature article on this subject further in the newsletter. Overall we are traveling well and preparing to work solidly through to Christmas when the team can enjoy a few days of rest.
MINIMUM STANDARDS AND SAFETY RELATED RESPONSIBILITIES
Under the new rental laws, residential rental providers (landlords) must ensure that their rental property meets certain minimum standards. The minimum standards will cover basic but important requirements relating to amenity, safety and privacy, and residential rental providers will owe a duty to ensure their property meets these standards.
- A functioning deadlock on external doors
- A vermin proof rubbish bin
- A functioning toilet
- Adequate hot and cold water connections in the kitchen, bathroom and laundry
- External windows that have functioning latches to secure against external entry
- A functioning cooktop, oven, sink and food preparation area
- Functioning heating in the property’s main living area
- Window coverings to ensure privacy in any room the owner knows is likely to be a bedroom or main living area
- A rented premises that is structurally sound an weatherproof
- A rented premises that is free from mould or damp caused by building structure
- All power outlets and lighting circuits to be connected to a circuit breaker and residual current device
- Ventilation requirements
If you want to know what the law says about minimum standards for rental properties, you can read these sections of the Residential Tenancies Act 1997:
- Section 65A – Occupation of rented premises that do not comply with rental minimum standards
- Section 72 – Urgent repairs
- Section 77 – Payment of rent into Rent Special Account
Compliance safety Checks
There are several safety-related duties, or responsibilities, that rental providers must undertake
Smoke alarms
The rental provider must ensure smoke alarms are correctly installed and working and are tested every 12 months according to the manufacturer’s instructions. They must also make sure batteries are replaced as required [Regulations, schedule 3].
The rental provider must also give you the following information about any smoke alarm before or on the day you move in:
- How it works
- How to test it
- Information about your responsibilities not to tamper with any smoke alarm and to report if any are not working
Power safety checks
The rental provider must make sure gas and electrical safety checks are carried out every 2 years. These must be undertaken by a licenced or registered gas fitter or electrician [Regulations, schedule 3].
Records of the most recent checks must be kept by the rental provider until the next one is done, and include:
- The gas fitter’s or electrician’s name
- Registration or licence number
- The date of the check
- Any outstanding recommendations for work on the property’s gas or electricity [section 68B, regulation 30]
MOVEMBER RESULTS
Some very interesting moustaches grown this month. I'm sure the guys are looking forward to a clean shaved face tomorrow. Thank you to everyone who donated! $2,000 raised for a very good cause - good job team
BENDIGO PROPERTY INVESTMENT SEMINAR
A big thanks to the guys at the Bendigo Bank and Strategem for helping to put together a very informative seminar. The night was a huge success with a great turnout - a lot of value to those that attended on the night! The Catering was a big plus and we look forward to doing another event in the near future! If you missed the night or were wanting to watch it again, you can do by clicking here
POPPY APPEAL
A magnificent effort to all of those who participated and helped out, what a great result - $5251 raised. Julie from the Bendigo Original Pie Shop was terrific, her support was greatly appreciated. A big thanks to all the following agencies that lent their time over the seven days: Heard & Co. Real Estate, Janelle Stevens Property, Bendigo Real Estate, DCK Bendigo, Tweed Sutherland First National Bendigo, Professionals Bendigo, McKean McGregor Real Estate, Bendigo Ballarat Real Estate, Gavin Butler Real Estate & Maher Real Estate.
BENDIGO'S BIGGEST EVER BLOKES LUNCH
Brad, along with Neil Macdonald and their wonderful committee for Bendigo’s Biggest Ever Blokes Lunch raised over $120,000 on Friday 18th November with their annual day raising awareness for Prostate Cancer and general means health and well-being. The day was sold out, Dermott Brereton and Des Dowling entertained the crowd, Brad and Matt Bowles conducted the auction.
ANNIVERSARIES
BIRTHDAYS
