New Qld tenancy laws and impact on leases - how are you dealing with it?

[Whozat]

Two weeks before end of lease, and now appreciate the impact of the new tenancy laws. If you want to keep the property rented under a lease, and not have periodic tenancies, how do you propose to go about it?
The only option I can see is that around 3 months before the end of the lease, a notice to renew is sent to the tenants, with a 'please return by' date some 2 weeks later. Should they not return the lease by the return date, you then send (at least 2 months beforehand) a 'notice to leave' on the last day of the lease . Then, within the last month you start advertising for new tenants.
However, if you WANT the current tenants to stay, you still need to go through that process to ensure that you can start a new lease at the end of the period if you need to, whether the current tenants finally come around and sign a lease or not.
Short leasing suddenly seems to have become a whole lot more complex......

Any thoughts of a better way to deal with leases so that they don't drop into a periodic tenancy?

 

[Dazz]

Any thoughts of a better way

Maybe introduce longer term leases once you are happy with the Tenant, such that the amount of "turn-arounds" are reduced.

 

[marg4000]

We have discussed this issue with our PM and have decided to only offer 12 month leases as the renewal has to be finalised 2 months before the end of the lease. With a 6 month lease you would have to start renewal procedures within 3 months to ensure completion in time.
Marg

 

[Whozat]

We have discussed this issue with our PM and have decided to only offer 12 month leases as the renewal has to be finalised 2 months before the end of the lease. With a 6 month lease you would have to start renewal procedures within 3 months to ensure completion in time.
Marg

Yes, I think you are right. I also think that three months is the time frame now needed to start renewal on either a 6 or 12 month lease.

Do you and the PM anticipate that most tenants will return a signed lease at least 2 months before the end of the existing lease, and if they don't, what course of action have you advised, or will you advise your PM to take?

 

[wylie]

I am not too worried by the changes. As long as we have two weeks' notice from the tenant that they will vacate, that gives us enough time to advertise. Of course, it means we may be looking for tenants at a time of year other than when we ideally want to do it, but so far I have not been concerned.

Having said that, our leases right now are for twelve months, ending in January, so we have yet to actually go through a renewal under the new terms.

 

[josko]

We have discussed this issue with our PM and have decided to only offer 12 month leases as the renewal has to be finalised 2 months before the end of the lease. With a 6 month lease you would have to start renewal procedures within 3 months to ensure completion in time.
Marg

Exactly,

I have also decided on 12 mth increases and built in a $10 increase in 6 months.

Your PM should be on top of this and should be calling you in plenty of time.

Regards JO

 

[marg4000]

Originally posted by Whozat:
Do you and the PM anticipate that most tenants will return a signed lease at least 2 months before the end of the existing lease, and if they don't, what course of action have you advised, or will you advise your PM to take?

I leave it up to my PM to manage these issues. If renewal can't be confirmed in the legal timeframe then I would follow her advice as to how to proceed.
Marg

 

[Whozat]

Maybe introduce longer term leases once you are happy with the Tenant, such that the amount of "turn-arounds" are reduced.

Yes, longer leases would help reduce turn-around. Leases are preferable to periodic tenancy for me, but I haven't tested out the latter.