Minimum levels of Security in Rental Properties

by Administrator 30. March 2015 22:41

In 2013 it was announced that there were now minimum security requirements for rental properties and lessors have until the 1 July 2015 to comply


To summarise please read note the following:

Front main door must have a deadlock or a key lockable security screen. If the door does not have a security screen it must also have a peep hole or side light to ensure that a tenant can see who is at their front door safely without opening the door.


Windows need to be fitted with a lock but not necessarily a key lock to prevent the window being opened fro the outside. This is not applicable for windows that are not on the ground floor.


External Lighting - There needs to be an electrical light at the main entry door that can be operated from the internal of the property.

 

If you require any further information or clarification on the above it would be a good idea to visit the Department of Commerce Consumer Protection

http://www1.safetyline.wa.gov.au/sites/default/files/atoms/files/minimumsecurityrta.pdf


Perth Oversupplied with Sales and Rentals

by Administrator 26. March 2015 21:29

New reiwa.com data shows that the number of properties on the Perth market has reached 14,000, while the number of homes for rent has surpassed 6,500.

President of the Real Estate Institute of Western Australia, David Airey, said listings had jumped for both sales and rentals as a result of WA's slowing population growth rate and the effect of new building construction impacting on established home sales.

“The number of properties listed for sale has jumped by over 2,000 since the start of the year and sales have slowed by 15 per cent when compared to the same period last year.

“With 6,500 rental properties available across the metropolitan area, that’s a 210 per cent increase since 2012 and has pushed the vacancy rate over four per cent,” Mr Airey said.

Mr Airey said the very high level of house and unit construction across the state, accompanied with the fall in population growth, had tipped the scales to oversupply.

“Added to this is the big fall in the number of first home buyers choosing established homes and building new ones instead.

“However, this is great news for buyers and tenants because it means there is a huge amount of choice and very competitive pricing.

“Along with record low interest rates, there has rarely been such a good time to buy and first home buyers continue to be active in the market place,” Mr Airey said.

According to reiwa.com data, Perth’s median house price dipped by $5,000 last month to around $547,000, while metropolitan rents were holding steady at $440 per week.

“With this large supply of homes for sale and rent, it’s likely we will see negligible price growth across 2015 and a fairly slow market for those selling property or looking for tenants.

“It is essential that sellers and owners listen closely to the advice of their selling agents and property managers to ensure the right marketing and pricing in what will prove to be a very competitive environment,” Mr Airey said.

Mr Airey said that recent figures indicated that the average number of days on the market for home sales had stretched to 67, compared to the more usual 45, while the number of sellers prepared to discount their asking price was now 57 per cent.

Rental leasing times across Perth is averaging 36 days.

Source: reiwa.com