LJ Gilland Real Estate: June 2020

Friday, June 26, 2020

Skip These 7 Home Projects—They Won’t Increase Your Resale Value

The ATO has issued a guide to explain how to treat rental income and expenses, including how to treat more than 230 residential rental property items.

The Australian Taxation Office is aware that residential rental property owners maybe concerned about how COVID-19, floods or bushfires have reduced their income, whether it is through tenants paying less or under deferred payments plans, or travel restrictions which have affected demand for short-term rental properties. New legislation also affects the tax deductions that owners of vacant land can claim. Assistant Commissioner Karen Foat explained that whatever the circumstances, the most important first step was to keep records of all expenses. “Without good records, you will find it difficult to work out what expenses you can claim as deductions and to declare all your rental-related income in your tax return. Reduced rental income The COVID-19 pandemic has placed property owners and tenants in unforeseen circumstances. Many tenants are paying reduced rent or have ceased paying because their income has been adversely affected by COVID-19. You should include rent as income at the time it is paid, so you only need to declare the rent you have received as income. If payments by your tenants ATO has issued a guide to explain how to treat rental income and expenses, including how to treat more than 230 residential rental property items. are deferred until the next financial year you do not need to include these payments until you receive them. While rental income may be reduced, owners will continue to incur normal expenses on their rental property and will still be able to claim these expenses in their tax return as long as the reduced rent charged is reasonably commercial rather than, for instance, letting the tenants stay in the property rent-free, or for token amounts. This applies whether the reduction in rent was initiated by the tenants or the owner. Some owners may have rental insurance that covers a loss of income. It is important to remember that any payouts from these types of policies are assessable income and must be included in tax returns. Many banks have moved to defer loan repayments for stressed mortgagees. In these circumstances, rental property owners are still able to claim interest being charged on the loan as a deduction- even if the bank defers the repayments. Short-term rentals “We recognise that circumstances over the past six months have seen many short-term rentals see cancellations or sit vacant as a result of either COVID-19 or bushfires,” Ms Foat said. In circumstances where COVID-19 or natural disasters have adversely affected demand, including the cancellation of existing bookings for a short-term rental property, deductions are still available provided the property was still genuinely available for rent. If owners decided to use the property for private purposes offered the property to family or friends for free, offering the property to others in need or stopped renting the property out they cannot claim deductions in respect of those periods. “Generally speaking, if your plans to rent a property in 2020 were the same as those for 2019, but were disrupted by COVID-19 or bushfires, you will still be able to claim the same proportion of expenses you would have been entitled to claim previously,” Ms Foat said. To determine the proportion of expenses that can be claimed for short-term rental properties impacted by COVID-19 or bushfires, a reasonable approach is to apportionment expenses based on the previous year’s usage pattern, unless you can show it was genuinely available for rent for a longer period of time in 2020. If you or your family or friends move into the property to live in it because of COVID-19 or bushfires, you need to count this as private use when working out your claims in 2020. Deductions for vacant land no longer available For the 2020 year, expenses for holding vacant land are no longer deductible for individuals intending to build a rental property on the land but not yet built. This also applies to land you may have been claiming expenses in previous years. However, this does not apply to land that is used in a business, or if there has been an exceptional circumstance like a fire or flood lead to the land being vacant. So, if you are building a rental property, you cannot claim the deductions for the costs of holding the land, such as interest. However, if your rental property was destroyed in the bushfires and you are currently rebuilding, you can claim the costs of holding your now vacant land for up to 3 years whilst you rebuild your rental property. Common Mistakes Travel to rental properties “Last year, we also saw a number of taxpayers make simple mistakes such as claiming deductions for travel to inspect their rental properties,” Ms Foat said. Residential property owners can’t claim any deductions for costs incurred in travelling to residential rental property unless they are in the rare situation of being in business of letting rental properties. Incorrectly claiming loan interest Taxpayers that take out a loan to purchase a rental property can claim interest (or a portion of the interest) as a tax deduction. However, directing some of the loan money to personal use, such as paying for living expenses, buying a boat, or going on a holiday is not deductible. The ATO uses data and analytics look closely to ensure that deductions are only claimed on the portion of the loan that relates directly to the rental property capital works and repairs “Each year, some taxpayers claim capital works as a lump sum rather than spreading the cost over a number of years. Others claim the initial work needed to get a property ready for rent immediately instead of spreading the cost over a number of years,” Ms Foat said. Repairs or maintenance to restore something that’s broken, damaged or deteriorating in a property you already rent out are deductible immediately. Improvements or renovations are categorised as capital works and are deductible over a number of years. Initial repairs for damage that existed when the property was purchased can’t be claimed as an immediate deduction but maybe claimed over a number of years as a capital works deduction. Short term rentals We often see people with short term rental properties claiming for 100 per cent of their expenses when they actually use the property for their own use or provide it to family and friends for free or at a reduced rate. Properties need to be rented out or be genuinely available for rent to claim a deduction. Factors such as reserving the property or leaving it vacant over peak periods, not charging the market rate and the types of terms and conditions of the bookings are all taken into consideration when deciding if active and genuine efforts are being made to ensure a property is available for rent.If a property is not genuinely available for rent, you need to limit your deductions to the days when it is. If you are allowing friends or family to stay in the property at a reduced price, you need to limit your deductions to the amount of rent received. Don’t forget to include all your rental income, especially from sharing economy platforms, we are matching data received from these providers to information in tax returns and will be following up discrepancies. Poor record-keeping The number one cause of the ATO disallowing a claim is taxpayers being unable to produce receipts or other documents to support a claim. Furnishing fraudulent or doctored records will attract higher penalties and may also result in prosecution.

Rental properties 2020 will help owners of rental property in Australia to determine:

* which rental income is assessable for tax purposes

* which expenses are allowable deductions

*which records you need to keep

* what you need to know when you sell your rental property.

The guide explains how to apportion your expenses if only part of them are tax-deductible.

It advises taxpayers can no longer claim tax deductions for the cost of holding vacant land.

It also advised the situation if your rental property income and deductions have been affected by COVID-19 or recent natural disasters.

https://www.ato.gov.au/uploadedFiles/Content/IND/downloads/Rental-properties-2020.pdf

Landlords Insurance

Rewind back to this time last year, if someone had told us in a year’s time we’d be battling a global pandemic, it’s unlikely we’d have believed them. The last few months have been some of the most challenging times for all business owners. And if you’re a real estate agent, the banning of open homes in some states, a property market which quickly plummeted, and an overall negative economic outlook has probably hit you hard too.

While the fight is far from over, we have taken a look at the overall situation from an insurance lens, and clarify where insurance coverage has helped ease the burden for some businesses and individuals.

Landlord Insurance & Rent Default

Rent Default is a feature offered under Landlord Insurance policies that reimburse landlords’ lost rental income where a tenant either stops paying rent, vacates the property before the expiration of the rental agreement, or is otherwise evicted and there has been a loss of rent as a result.

As the economic crisis of COVID-19 hit, and more and more people became unemployed, paying rent was the one of biggest questions on everyone’s mind. With some guidance provided by state and federal governments, many landlords & tenants were encouraged to cooperate and come to mutually beneficial agreements.

Property owners who held Landlord Insurance with Rent Default have had some protection if their tenants stopped paying rent (without agreement from the landlord). However, those who didn’t hold this cover may have been at a disadvantage, and then some insurers stopped offering this option on new Landlord Insurance policies. Why was this done? Insurance is designed to cover for unforeseen circumstances, and as the economic crisis took hold, a tenant not being able to pay rent was no longer considered ‘unforeseen’. Such a turn of events has demonstrated the importance of Landlord Insurance, and not waiting until a disaster is imminent to take out this coverage.

EXTRACTED FROM REAL ESTATE MARKET FACTS MARCH QUARTER 2020 Fast Facts: March Quarter 2020 Quarterly Australian weighted median house price is $786,923 Quarterly Australian weighted median other dwellings price is $602,293 Median house prices up: Hobart 4.5% to $575,000 Melbourne 3.7% to $893,000 Sydney 2.6% to $1,168,806 Darwin 2.2% to $470,000 Median house prices down: Adelaide 1.8% to $480,000 Brisbane 2.8% to $525,000 Canberra 3.2% to $700,000 Perth 4.0% to $480,000 Median other dwelling prices up: Adelaide 2.8% to $365,000 Sydney 2.7% to $744,672 Melbourne 0.6% to $641,000 Median other dwelling prices down: Hobart 0.5% to $403,000 Darwin 0.7% to $302,750 Brisbane 2.6% to $385,000 Perth 2.6% to $375,000 Canberra 4.0% to $461,000 Fast Facts: March Quarter 2020 Mar 2020 Dec 2019 Mar 2019 Proportion of family income to meet: Home loan repayments 34.7% 34.8% 32.3% Rent payments 23.5% 23.6% 23.9% NSW New South Wales had the largest annual decline in housing affordability VIC Victoria has the highest decline in housing affordability over the quarter QLD Rental affordability remained stable in Queensland over the past year SA South Australia has the lowest percentage of first home buyers entering the market (25.9%) WA Western Australia had the lowest decrease in new loans for dwellings over the quarter (-6.7%) TAS Tasmania had the smallest decrease in loans to first home buyers over the quarter (-0.5%) NT Northern Territory had the largest improvement in housing affordability over the year ACT Rental affordability is at 19.0% in the Australian Capital Territory

LJ Gilland Real Estate Pty Ltd

Debello LREA推荐书LJ Gilland房地产
http://ljgrealestate.com.au/testimonials/

Request FREE Rental Appraisal here!

"Your Local Property Management & Sales Specialists"

PO BOX 19
ZILLMERE 4034
电话：07 3263 6085

Our Valued Vendor wrote the following to one of the potential buyers for this sale, for which we are thankful and grateful:-
This part is a note for the possible buyers. Carlos and Linda have managed three of our properties and, to date, been the agents for their sales as well. We are not natural landlords, but when Carlos and Linda manage the properties, they treat them as their own. It has been their diligence and sense of ownership that has enabled us to handle investment properties. If you proceed with this purchase, we recommend that you keep them on as rental managers until the process is complete. They managed repairs and maintenance on all properties so that they were never a worry. They know the property and the tenants, are very familiar with the laws of the tenancy and therefore would be able to steer through the process of giving notice and the final weeks the occupancy. They are very diplomatic and appreciate the challenges of dealing with people. We have no concerns about the future because of the amazing ability of Carlos and Linda.

Regards Rod and Kathy>

Solid Sale In An Extraordinary Time

It has been a pleasure to have Linda recently sell a rental property in Ormiston, Brisbane, for us. Considering the contract went through during Covid-19 Lockdown, it says a lot about Linda’s commitment and tenacity.

The experience highlighted the following for us about Linda.

She:

(a) has a great understanding of the market and property values

(b) is extremely helpful and honest in her comments and guidance

(d) is committed to the buyer or seller

We are thrilled that the sale was completed and thank Linda and Carlos for managing the triple issues of tenants, seller and buyer so superbly.

Review submitted by Rod & Kathy Jarrett (vendor) on 07 May 2020 https://www.ratemyagent.com.au/real-estate-agent/linda-debello/reviews/18-evergreen-st-ormiston-aast11

Property in Capable Hands

Through the purchase of this property I’ve had the pleasure to meet Linda whom I’ve come to know as a very genuine person with in-depth knowledge about the current market and is very dedicated and passionate about her work. With her guidance the entire purchasing process was extremely smooth and hassle free.

This property had tenants prior to my purchase and has been managed by Linda and Carlos since it was nearly new. I feel very privileged and assured to have Linda and Carlos continue looking after this property for me.

Verified by RateMyAgent

‪https://www.ratemyagent.com.au/real-estate-agent/linda-debello/reviews/18-evergreen-st-ormiston-aasre4

http://ljgrealestate.com.au/competitive-commission/ http://ljgrealestate.com.au/property-management/

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The information in this message is intended for the recipient named on this email. If you are not that recipient, please do not read, copy, distribute or act upon the message as the information it contains may be privileged and confidential. If you have received this message in error, please notify us immediately by return email. Thank you for your co-operation

Thursday, June 25, 2020

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At a Glance: Landlords only need to declare the rent you have received as income Landlords can still claim expenses they need to pay, even if receiving less rent Any payouts from insurance policies are assessable income and must be included in tax returns.

At a Glance:
- Landlords only need to declare the rent you have received as income
- Landlords can still claim expenses they need to pay, even if receiving less rent
- Any payouts from insurance policies are assessable income and must be included in tax returns.As the end of the financial year ticks nearer in one of our most unprecedented years, the Australian Taxation Office has issued advice for residential rental property owners where COVID-19, floods and bushfires may have reduced their income.
  This may be a result of tenants paying less or entering deferred payments plans, or travel restrictions which have affected demand for short-term rental properties.
  
  New legislation also affects the tax deductions that owners of vacant land can claim.
  
  At a Glance:
  
  Landlords only need to declare the rent you have received as income
  
  Landlords can still claim expenses they need to pay, even if receiving less rent
  
  Any payouts from insurance policies are assessable income and must be included in tax returns.
  
  Assistant Commissioner Karen Foat said whatever the circumstances, the most important first step was to keep records of all expenses.
  
  “Without good records, you will find it difficult to declare all your rental-related income in your tax return and work out what expenses you can claim as deductions.” said Ms Foat.
  
  Reduced rental income
  
  The COVID-19 pandemic has placed property owners and tenants in unforeseen circumstances.
  
  Many tenants are paying reduced rent or have ceased paying because their income has been adversely affected by COVID-19.
  
  You should include rent as income at the time it is paid, so you only need to declare the rent you have received as income.
  
  If payments by your tenants are deferred until the next financial year you do not need to include these payments until you receive them.
  
  While rental income may be reduced, owners will continue to incur normal expenses on their rental property and will still be able to claim these expenses in their tax return as long as the reduced rent charged is determined at arms’ length, having regard to the current market conditions.
  
  This applies whether the reduction in rent was initiated by the tenants or the owner.
  
  Some owners may have rental insurance that covers a loss of income.
  
  It is important to remember that any payouts from these types of policies are assessable income and must be included in tax returns.
  
  Many banks have moved to defer loan repayments for stressed mortgagees.
  
  In these circumstances, rental property owners are still able to claim interest being charged on the loan as a deduction- even if the bank defers the repayments.
  
  Short-term rentals
  
  “We recognise that circumstances over the past six months have seen many short-term rentals see cancellations or sit vacant as a result of either COVID-19 or bushfires,” said Ms Foat.
  
  In circumstances where COVID-19 or natural disasters have adversely affected demand, including the cancellation of existing bookings for a short-term rental property, deductions are still available provided the property was still genuinely available for rent.
  
  If owners decided to use the property for private purposes, offered the property to family or friends for free, offered the property to others in need or stopped renting the property out they cannot claim deductions in respect of those periods.
  
  “Generally speaking, if your plans to rent a property in 2020 were the same as those for 2019, but were disrupted by COVID-19 or bushfires, you will still be able to claim the same proportion of expenses you would have been entitled to claim previously,”said Ms Foat.
  
  To determine the proportion of expenses that can be claimed for short-term rental properties impacted by COVID-19 or bushfires, a reasonable approach is to apportion expenses based on the previous year’s usage pattern, unless you can show it was genuinely available for rent for a longer period of time in 2020.
  
  If you or your family or friends move into the property to live in it because of COVID-19 or bushfires, you need to count this as private use when working out your claims in 2020.
  
  Deductions for vacant land no longer available
  
  For the 2020 year, expenses for holding vacant land are no longer deductible for individuals intending to build a rental property on that land but the property is not yet built.
  
  This also applies to land for which you may have been claiming expenses in previous years.
  
  However, this does not apply to land that is used in a business, or if there has been an exceptional circumstance like a fire or flood leading to the land being vacant.
  
  So, if you are building a rental property, you cannot claim the deductions for the costs of holding the land, such as interest.
  
  However, if your rental property was destroyed in the bushfires and you are currently rebuilding, you can claim the costs of holding your now vacant land for up to 3 years whilst you rebuild your rental property.
  
  Common Mistakes - Travel to rental properties
  
  “Last year, we also saw a number of taxpayers make simple mistakes such as claiming deductions for travel to inspect their rental properties,” said Ms Foat.
  
  Residential property owners can't claim any deductions for costs incurred in travelling to residential rental property unless they are in the rare situation of being in the business of letting rental properties.
  
  Incorrectly claiming loan interest
  
  Taxpayers that take out a loan to purchase a rental property can claim interest (or a portion of the interest) as a tax deduction.
  
  However, directing some of the loan money to personal use, such as paying for living expenses, buying a boat, or going on a holiday is not deductible use.
  
  The ATO uses data and analytics to look closely to ensure that deductions are only claimed on the portion of the loan that relates directly to the rental property.
  
  Capital works and repairs
  
  “Each year, some taxpayers claim capital works as a lump sum rather than spreading the cost over a number of years," said Ms Foat.
  
  "Others claim the initial work needed to get a property ready for rent immediately instead of spreading the cost over a number of years."
  
  Repairs or maintenance to restore something that’s broken, damaged or deteriorating in a property you already rent out are deductible immediately.
  
  Improvements or renovations are categorised as capital works and are deductible over a number of years.
  
  Initial repairs for damage that existed when the property was purchased can’t be claimed as an immediate deduction but may be claimed over a number of years as a capital works deduction.
  
  Short term rentals
  
  We often see people with short term rental properties claiming for 100 per cent of their expenses when they actually use the property for their own use or provide it to family and friends for free or at a reduced rate.
  
  Properties need to be rented out or be genuinely available for rent to claim a deduction.
  
  Factors such as reserving the property or leaving it vacant over peak periods, not charging the market rate and the types of terms and conditions of the bookings are all taken into consideration when deciding if active and genuine efforts are being made to ensure a property is available for rent.
  
  If a property is not genuinely available for rent, you need to limit your deductions to the days when it is.
  
  If you are allowing friends or family to stay in the property at a reduced price, you need to limit your deductions to the amount of rent received for these periods.
  
  Don’t forget to include all your rental income, especially from sharing economy platforms.
  
  The ATO are matching data received from these providers to information in tax returns and will be following up discrepancies.
  
  Poor record keeping
  
  The number one cause of the ATO disallowing a claim is taxpayers being unable to produce receipts or other documents to support a claim.
  
  Furnishing fraudulent or doctored records will attract higher penalties and may also result in prosecution.https://ljgillandrealestate.wordpress.com/2020/05/06/april-sees-a-decrease-in-new-property-listings-brisbane-recorded-the-highest-decline-in-house-prices-of-1-0-percent-over-the-month-followed-by-perth-0-9-percent-hobart-0-7-percent-and-canberra-0-1/
  
  Read Property_Investor's (@ljgrealestate) May 6 Newsletter 'We got thru April 2020 welcome to level 5 Jumanji ' https://nzzl.us/DKfXjhU
  
  Best Regards
  
  Linda 姬琳达珍 and Carlos Debello (LREA)
  
  LJ Gilland Real Estate Pty Ltd
  
  Debello LREA推荐书LJ Gilland房地产
  http://ljgrealestate.com.au/testimonials/
  
  Request FREE Rental Appraisal here!
  
  "Your Local Property Management & Sales Specialists"
  
  PO BOX 19
  ZILLMERE 4034
  Ph: 07 3263 6085
  
  http://ljgrealestate.com.au/competitive-commission/ http://ljgrealestate.com.au/property-management/
  
  http://www.facebook.com/ljgrealestate
  
  https://lnkd.in/gRJPYsy

Monday, June 22, 2020

Stamp duty reform is finally on the agenda and the latest idea involves giving future home buyers a choice.

You can pay an upfront lump sum of about $40,000 on a $1 million purchase (in NSW) or an annual land tax of around $3,000 for every year that you continue to live in the property.

This specific proposal is from the NSW Government, which is working with Victoria to push for stamp duty reform across the country to help the Australian economy recover from Covid-19.

I agree that a broader-based solution across the market might be a better way of doing things.

Stamp duty is now so absurdly high that it disincentivises moving and punishes those that do.

Most buyers have to factor the cost of stamp duty into their borrowings, which means they not only pay this ridiculously expensive tax every time they move, they also pay interest on it.

In a robust economy, people need to be able to relocate easily to be closer to a new job or school, or to upsize or downsize as per their life circumstances.

We’ve seen the stimulatory effect of removing or reducing stamp duty with first home buyers so we know it works.

I hope it happens sooner rather than later but for now, stamp duty reform is just an idea.

The Federal Government has asked all the states and territories for tax reform proposals to help in the economic recovery but it will take time for any changes to become reality.

Meantime, the HomeBuilder scheme has sparked massive new interest in building new homes and that’s great for our economy.

Developers and agents are reporting a lot of enquiry about the $25,000 grant.

The first thing you need to know is that HomeBuilder is a short term program, so you need to move quickly if you want it.

Your new build or major renovation contract has to be signed by December 31, which doesn’t leave much time for people who need council approval to go ahead with their plans.

Here’s a quick re-cap on eligibility for HomeBuilder:

Owner-occupiers can use the grant to build a new home worth up to $750,000 or undertake a substantial renovation worth a minimum $150,000 up to $750,000
The pre-renovation value of your home must be less than $1.5 million
Separate structures like pools, tennis courts and sheds are excluded
There are income caps of $125,000 for singles and $200,000 for couples
First home buyers can use HomeBuilder in combination with a First Home Owner Grant, stamp duty concessions and the First Home Loan Deposit Scheme

The minimum renovation spend of $150,000 rules out small jobs like new bathrooms and kitchens; and the $1.5 million value cap excludes many owners in inner Sydney and Melbourne.

Just like JobKeeper, this is a targeted measure and some people are going to miss out.

If you do, re-direct your focus to interest rates and the incredibly low home loan deals on offer today.

They recently dropped even lower into the very early 2 per cent range, and with cashbacks of up to $2,000 being offered by lenders to help you refinance, a home loan health check is well worth your time.

There are some incredible deals available.

If you’re not taking advantage of them, you might be missing out on far more savings than you might get with HomeBuilder or JobKeeper.

Linda 姬琳达珍 and Carlos Debello (LREA)

LJ Gilland Real Estate Pty Ltd

Debello LREA推荐书LJ Gilland房地产
http://ljgrealestate.com.au/testimonials/

Request FREE Rental Appraisal here!

"Your Local Property Management & Sales Specialists"

PO BOX 19
ZILLMERE 4034
Ph: 07 3263 6085

http://ljgrealestate.com.au/competitive-commission/ http://ljgrealestate.com.au/property-management/

http://www.facebook.com/ljgrealestate

Wednesday, June 17, 2020

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New Video Coming momentarily

Property for lease available 18th June 2020 @ $345 per week

Tuesday, June 16, 2020

Taringa unit for lease with views

Taringa $430 per week

This Cosy Air-Conditioned 2 Bedroom Unit WITH VIEWS Features:

• 2 Carpeted bedrooms with Built-ins and Ceiling Fans.

• Spacious Kitchen with Dishwasher, electric appliances

• Formal Lounge with Air-Con and Balcony’

• Rear deck area off the main bedroom

• Stone benches in the kitchens and bathrooms

• Single garage with extra storage room and internal access to the staircase

• Laundry with Dryer.

Other Features:

•Security screens.

•Intercom.

•Remote Single Garage.

#rentalproperty #property manager #propertymanagement #ljgrealestate

‪http://ljgrealestate.com.au/rental/9-53-whitmore-street-taringa-qld-4068/‬

Sunday, June 14, 2020

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Friday, June 12, 2020

ARE YOU ELIGIBLE?Australian Government HomeBuilder Grant gives all eligible buyers the opportunity to receive $25,000

The recently announced Australian Government HomeBuilder Grant gives all eligible buyers the opportunity to receive $25,000 towards building a new home. In the wake of COVID-19, this will provide a much needed boost to the residential construction industry, by creating local jobs and injecting confidence back into the sector.

WHAT THIS MEANS FOR YOU

This grant could open the door to get you into your new address sooner.

And while this grant is not just restricted to first home buyers, it will complement existing First Home Owner Grant programs, stamp duty concessions and other grant schemes, as well as the Commonwealth’s First Home Loan Deposit Scheme and First Home Super Saver Scheme. The amalgamation of these benefits will further enable first home buyers to get their foot in the property market door.

ARE YOU ELIGIBLE?

· you are a natural person (not a company or trust);

· you are aged 18 years or older;

· you are an Australian citizen;

· you meet one of the following two income caps:
- $125,000 per annum for an individual applicant; or
- $200,000 per annum for a couple;

· you enter into a building contract between 4 June 2020 and 31 December 2020 to build a new home as a principal place of residence, where the property value (house and land) does not exceed $750,000;

· construction must commence within three months of the contract date.

Best Regards

Linda 姬琳达珍 and Carlos Debello (LREA)

LJ Gilland Real Estate Pty Ltd

Debello LREA推荐书LJ Gilland房地产
http://ljgrealestate.com.au/testimonials/

Request FREE Rental Appraisal here!

"Your Local Property Management & Sales Specialists"

PO BOX 19
ZILLMERE 4034
电话：07 3263 6085

.
Review submitted by Rod & Kathy Jarrett (vendor) on 07 May 2020 https://www.ratemyagent.com.au/real-estate-agent/linda-debello/reviews/18-evergreen-st-ormiston-aast11 Verified by RateMyAgent https://www.ratemyagent.com.au/real-estate-agent/linda-debello/reviews/18-evergreen-st-ormiston-aasre4

Very recently we rented this Caboolture home without advertising, START <To everyone at L J Gilland Real Estate and review readers,

Over the past 3 years we have been 'customers' after referral from a work colleague.

As a current customer, we can recommend the services of this real estate.

Why we hear you say?

Well - when they make a time to meet, they are there on time.

Communications - both in person and via Emails are professional, courteous and respectful.

Legals - staff are aware of the laws relating to rentals - for both owners and tenants. This is very important with recent 'Covid 19' alterations to the laws.

Carlos and his workshop on wheels can be relied upon to fix all those 'little things' that make a difference (without overpriced charges) - which is truly appreciated.

Value - In comparison to other companies, you can't go wrong.

In a nutshell, this is a team who 'know the ropes', who care for your property for you, who present it and promote it in a professional way, who observe and follow laws related to rental.

Thank you for reading

Sincerely

Bob and Carole

Morayfield

LJ Gilland Real Estate Pty Ltd would love your feedback. Post a review to one of our profiles i.e. https://g.page/ljgrealestate/review?gm

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Thursday, June 11, 2020

NRAS QUANTUM FINED BY ACCC This conduct was blatant, planned and deliberate in an effort to trick investors into switching from their preferred property managers

The Federal Court has ordered Quantum Housing Group Pty Ltd to pay $700,000 in penalties for making false or misleading representations relating to the National Rental Affordability Scheme (NRAS).

Between February 2017 and July 2018, Quantum sent a series of misleading letters and emails to at least 450 investors who had rental dwellings participating in the NRAS scheme, and pressured them to terminate their arrangements with their existing property managers and instead use property managers approved or recommended by Quantum.

Quantum failed to tell investors that it had commercial links with the property managers it recommended.

Quantum also told some investors that their existing property manager had not properly managed their property’s compliance with the NRAS, when this was not true.

“This conduct was blatant, planned and deliberate in an effort to trick investors into switching from their preferred property managers,” ACCC Chair Rod Sims said.

Quantum admitted that it falsely represented that property managers must meet accreditation guidelines issued by Quantum, and that investors who failed to appoint an approved property manager were in default of their agreement with Quantum and risked losing their NRAS incentives.

The Court also ordered Quantum’s director, Cheryl Howe to pay $50,000 in penalties for being knowingly concerned in Quantum’s breaches of the Australian Consumer Law. Ms Howe was also disqualified from managing a corporation for three years.

“The penalties ordered against Quantum and Ms Howe serve as a warning that making false or misleading statements will result in serious consequences not just for the company involved but also any executive or employee found to be knowingly concerned in the conduct,” Mr Sims said.

Quantum and Ms Howe admitted liability and made joint submissions to the Federal Court with the ACCC.

The ACCC had also alleged that the conduct engaged in by Quantum was unconscionable conduct. However, the Court found the admitted conduct did not depend on exploiting vulnerability on the part of investors, and in those circumstances was not satisfied that the conduct was unconscionable.

Quantum ceased trading in December 2019 and is in liquidation.

Quantum to pay $700k for misleading property investors. Quantum Housing has been ordered to pay $700,000 in penalties after the Federal Court found it made false or misleading representations relating to the National Rental Affordabili… https://ljgillandrealestate.wordpress.com/2020/06/11/quantum-to-pay-700k-for-misleading-property-investors-quantum-housing-has-been-ordered-to-pay-700000-in-penalties-after-the-federal-court-found-it-made-false-or-misleading-representations-relating/ via @GillandDebello