Investment - SMSF

Can I rent out my SMSF holiday home myself or should I us... When deciding on whether to manage your holiday rental property yourself, your decision should be based on your knowl...
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Investment - SMSF

The following advice is of a general nature only and intended as a broad guide. The advice should not be regarded as legal, financial or real estate advice. You should make your own inquiries and obtain independent professional advice tailored to your specific circumstances before making any legal, financial or real estate decisions. Click here for full Terms of Use.

Are there any safety requirements to consider when leasing out a property?

Landlords and their agents have a duty of care to tenants and their occupants who lease any property.
 
They must ensure that the property meets safety standards before occupation. It is recommended that landlords and agents conduct regular checks of electrical and gas appliances to ensure they are in safe working order. 
 
If the property has a pool, the landlord must ensure it complies with safety standards required by law in Australia including secure fencing.  Smoke detectors must be checked and batteries replaced regularly as required by law.  All blinds and curtain cords should meet state safety legislative requirements and all furnishing should meet with fire resistive ratings. 
 
For more information check with a First National Real Estate Property Manager or contact your state’s fair trading or consumer body.

Should I lease out my holiday home on a short term or long-term lease?

Any property leased for holiday letting, or rented for a period of less than three (3) months is not governed under the general tenancy laws of most states.
 
In most cases rental returns on short term fully furnished holiday properties is much greater than long term leasing.

Investors need to consider their investment strategy and investigate all associated costs before making the decision to lease a property for short or long term tenancy.   

The best time for leasing out your holiday home is in high season (and most school holidays) when asking rents are at their highest.
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