His­tory of prayers and gra­cious airs

Mercury (Hobart) - Property - - Front Page -

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.

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