History of prayers and gracious airs
THERE is nothing new in using a spare room for a little bit of extra cash. However in these days of legal over-complication, it is important that you know your rights and obligations as a homeowner.
It can be tempting to be very casual about renting out a room. You meet someone, somehow, and you all agree to terms. They move in, pay cash and everything is beautiful. You may even share a cigarette on the veranda and a few beers.
Now while this may have been the norm back in the 1970s, this is 2013 and you need to get serious.
Unlike that era – when tenants were more conditioned to do the right thing and your extra income could be, let’s say, ‘‘discreetly’’ earned – it is nothing like this today.
So you should only consider playing this game if you are prepared to get serious.
Sourcing tenants today is actually so much easier than ever before. Contact nearby universities or large employment bases such as hospitals. Consider putting a print ad in the right section of the paper, or go online. Realestate.com.au has a whole section dedicated to this marketplace.
This makes getting your property known to the room-seeking public pretty easy and demand, depending on where you live, can be pretty strong.
The major difference with tenant selection compared to when leasing a whole property is you will have this person in your home.
This means you will share some facilities. Will you be able to cope with this person, bumping into them early in the morning?
You will need to interview them thoroughly and I suggest building a trial period into your agreement.
You can access a standard tenancy agreement or lease online, depending on your state.
As much as there may be a temptation to avoid formal tenancy agreements, I strongly advise you treat this very seriously.
Get advice, get the right agreement and ensure all is executed correctly.
My tip is to consider adding conditions to your agreement. These may state how the bills for things like electricity, internet or pay TV are divided and when the tenant needs to pay.
Define access and the use of other AUCTIONof the week is a beautiful and intriguing property with a religious history.
72 Adelaide St, South Hobart, goes under the hammeron Saturday at noon.
Having been in the same family for several generations, this commanding home enjoys an outstanding location on the corner of Adelaide and D’Arcy streets.
Locals will have long admired the beautiful facade of this grand home and the lovely, expansive grounds.
The property housed senior members of both the Anglican andRoman Catholic churches in its early days and in more recent times it has been a lovingly cherished grand family home, with the owners raising a large happy family and holding manywonderful memories of a fantastic childhood spent here.
The versatile floorplan with large rooms and high ceilings lends itself to a sympathetic rejuvenation and possible expansion.
With the sun pouring in the large picture windows, the traditional over-wide hall of a home of this era and the mature rose garden, not to mention the traditional veranda, there are no limits to the aesthetic features you will be delighted to discover here.
Ample secure off-street parking for multiple vehicles (a true advantage in this area), outstanding proximity to the exciting South Hobart strip, CBDand your choice of highly desirable schools are all extra bonuses.
Contact Angelina Drobina for a personal inspection on 0416 163 014. areas of your home, even where they may park their car.
Not smoking, or playing loud music late at night, are reasonable conditions, but you need to accept they will have a right to live there. Asking them to stay in their room at all times and only using the shower on alternate nights after 11pm is not really reasonable.
As this is a sharing scenario for you, unless the rental space is totally independent you must give this a great deal of thought.
Successful tenancies tend to be the
THEReal Estate Institute of Tasmania State Auction Competition will be held in Launceston on Tuesday, July 30, at the Earl Arts Centre.
This years’ competitors are Darcey Leno from LJ Hooker Wynyard, SamWoolcock from Woolcock and Partners Launceston, Michael Baxter of Harcourts Coast and Country ones with clear boundaries from the start.
Insurance must not be ignored. Accidents do happen! Contact your insurer before the tenant moves in to make sure your policy conditions cover you.
And if the rental allows sole access to a bathroom or more ‘‘self contained’’ space such as a kitchenette, living area, or individual access, expect more rent.
Be aware that if all goes well and you want to start renting out other rooms in the house, check with the Launceston, Jeff Cairns and Sharin McCarthy of Roberts Longford and Brett Boxhall of Halliwell Property Agents, Devonport.
The winner and runner-up will head to Perth, Western Austraia, to compete in the national competition involving each state, territory and competitors fromNewZealand.
The competition heats begin at 10.30am and will conclude at about 11.30am. relevant authorities as different rules can apply the more rooms you let out.
Nowthe bad news. You are about to generate extra income for yourself, so your accountant and the taxman will want to know how much you made.
Worse still if you don’t tell them and they find out subsequently, ouch!
Letting them know in advance however, will allow you to discover what, if any, additional expenses can be claimed to reduce your tax liability.
If you have the tenancy agreement in place, the right conditions for a happy co-existence, interviewed well and secured the right tenant, sorted the insurance and taxman, then you are on your way.
You could be quite surprised at how much extra income you generate.
It can be a nice little earner and that guest room retained for visits by your dearest in-laws and blow-in cousins, who turn up randomly, may suddenly be viewed in a very different way.
MEMORIES: The house at 72 Adelaide St has a long connection with religious leaders.