Proper procedure should be followed when changing by-laws within a strata scheme – this includes adding, modifying or repealing a by-law. But in some circumstances a resolution in relation to a by-law … [Read more...]
Your obligations regarding maintenance of the property you have just sold
Picture this – you advertised your property for sale, endured countless open houses and inspections, and finally, someone offered you a price which you accepted, contracts exchanged, and now the … [Read more...]
When can (and can’t) a retail landlord withhold consent to a proposed lease assignment?
Commercial and retail leases typically contain a provision allowing the tenant to transfer (assign) the lease to another tenant. The need or desire to transfer the lease can arise in a number of … [Read more...]
The importance of having a co-ownership agreement
If you have purchased a property with someone else, it is likely that you’ve at least had an initial chat about sharing the costs of owning the property – but have you discussed what happens if one of … [Read more...]
What’s the parking situation like? Important lessons for property purchasers and agents
Property purchasers and especially real estate agents should take note of a Supreme Court decision handed down last week in relation to representations made regarding a property’s right of way (aka … [Read more...]
Why you need to know about outgoings
What are outgoings? Outgoings are expenses incurred by the landlord arising out of its ownership of the premises. Typical outgoings include: Taxes fees and charges – e.g. Council rates, … [Read more...]
Why our clients love PEXA
PEXA ("Property Exchange Australia") is the new electronic property settlement portal, making life easier for solicitors and conveyancers, but what are the benefits to you as a client? To name just … [Read more...]
Surcharges on stamp duty and land tax for foreign persons – will it affect you?
The New South Wales Government introduced legislation last year bringing into effect surcharges on stamp duty and land tax, to be payable on residential property purchased or owned by anyone falling … [Read more...]
Do you know how to exercise your option to renew your lease?
Commercial leases typically are for a fixed initial term of, say, 3 or 5 years, with an “option to renew” period of a further 3 or 5 years. The lease document will note the specific dates within … [Read more...]
Extra steps for property sales over $2 million
As you may be aware, owners of certain types of property are required to pay capital gains tax when the property is sold. This is normally accounted for when the vendor does their next tax return. … [Read more...]