We all know there’s a lot of new legislation making property investors nervous.
The compulsory insulation means we are meeting a lot of new clients who don’t know that they need to provide an insulation statement when a new tenancy agreement is signed. The penalty for failing to provide a statement, or providing a false one, is a $500 fine.
I know compliance is a boring topic but it’s also an important one. You should be thinking hard about how much it’s going to cost you to ensure your property is warm, dry and safe. If you can’t afford it, sell your property. Because the pressure on non-performing landlords is only going to increase and you don’t want unhappy or unwell tenants. Even if you don’t have a conscience about your tenants, the prospect of having your name dragged through the press and on social media should have you thinking twice about failing to comply.
Read the rest of Aaron’s colum here