What happens if your rental property is destroyed by a natural disaster?

As a landlord or a tenant, it is crucial you know your rights and responsibilities if the property you own or rent has been affected by a natural disaster.

With the shock of the recent bushfire crisis, we thought it appropriate to answer a few questions about what to do if a residential rental property is destroyed by a natural disaster like a bushfire.

In October 2018 the NSW Parliament passed a series of amendments to the Residential Tenancies Act 2010, which are designed to increase protection and certainty for renters, while ensuring that landlords can protect their investment and effectively manage their properties.

You can claim a deduction for your related expenses for the period your property is rented or is available for rent.

Two years after it set a commercial property record, a landmark Wollongong site is now expected to fetch more than $50 million.

Selling a tenanted property often makes financial sense for investors. Not only do you need to sell at the time that’s right for you in terms of the highest possible sale price, but continuing to receive rental income right up until the property sells can make a huge difference to your bottom line and ensure that you stay on top of investment loan repayments. It’s also appealing to potential investors if a property already has tenants in it.

The nine suburban central business districts in the Northern Suburbs of the Illawarra are continuing to show the benefits of increased tourist visitation and a sustained residential population growth. Evidence of these thirving conditions is the sale made by MMJ Wollongong of 43-45 Princes Highway, Fairy Meadow. This transacted prior to auction, to an established local investor at a record yield of 4.2% net.