Cash flow is king. I speak to property investors in Queensland on a weekly basis looking to sell. Time and again their first concern is protecting their income source whilst they try to find a suitable buyer.

If you find yourself in a similar situation I can provide some reassurance if you have the following:

  1. A validly executed, fixed term tenancy agreement
  2. An understanding of Section 307 of the Residential Tenancies and Rooming Accommodation Act 2008 (RTRA Act).

A fixed-term tenancy agreement is binding on both parties to the agreement, lessor and lessee.

Section 307 of the RTRA Act prescribes the circumstances that allow a tenant to give 2 weeks notice to vacate if a premises is being sold. Let’s take a look.

By complying with the RTRA Act, a lessor can ensure the tenant has no valid option to end the lease agreement earlier. Just follow the instruction in Section 307 (2)

If advertising the property for sale or entering the premises to show the property to a prospective buyer, provide the tenant with written notice of the lessor’s intention to sell the premises before entering into a general tenant agreement.

Remember under a periodic tenancy agreement a tenant can give 2 weeks notice to vacate. If regular rental income is critical, it may be prudent to ensure tenants are kept on fixed term tenancy agreements.

 

Find Out More

Looking For A Property Manager?

We’ve been managing property in Brisbane’s Inner South since 1977.

With industry leading innovation, a can do attitude, unprecedented property management knowledge and a six-star service mindset, we want to be an important part of your investment journey.

Find Out More

More Landlord Insights

FastApp = Better Tenant, Sooner

What Is FastApp? FastApp processing is our streamlined rental applications. Most real estate offices aim to process an application in 48-72 hours. With FastApp we aim to approve a tenant for a property in 4 business [...]

January is the BIG leasing month.

January is the BIG leasing month. We've got to rent 80 properties. We're at the bottom of the ⛰️ but off to a great start. 4 on day 1.

What Is An Electronic Signature?

We're likely to see a large increase in electronic document signing over the next 12 months through real estate agencies. At Jeff Jones we were "early adopters" of the technology, having documents signed through the [...]

The ATO 2016 Rental Property Guide

The ATO (Australian Tax Office) produce a guide for property investors each year. Rental properties 2016 will help you, as an owner of rental property in Australia, determine: which rental income is assessable for tax [...]

Lawn & Garden Maintenance In A Rental Property

Setting up your Investment Property for renting is a pivotal part of minimising the stress through your investment lifetime. Lawns and garden maintenance is something you often need to consider with freestanding houses, and some [...]

Property Management Insider Secrets

Our own Marie McMenemy shared her favourite insider secrets with everyone at our Seminar Series back in September. As the most experienced property management expert in Brisbane's Inner South there was fantastic insight for everyone. [...]

Load More Posts