What's the minimum requirements for renting

[HTO]

Hi,

Does anyone know what is the minimum requirement to rent out a studio unit long term (6 months or more) in NSW?

I own a studio in a 5 star resort. It's a studio with bathroom, no kitchen and no laundry. I could do holiday leasing, but management cost is too high and self management is out of the question as it's too far for me to managed.

Spoken to a local PM and they say minimum is a kitchen. Fact or fiction?

Can't seem to find anything on the NSW tenancy act, fair trading website etc... And at this time of night, can really call them up

any knowledge person out there? or know of a website with this info for NSW?

cheers

 

[Scott No Mates]

It has to be fit for the purpose - no kitchen (needs to have at least 2 hotplates/oven, cupboards, sink), no laundry - not a necessity however is there a common laundry/local laundrette? Lack of facilities leads to a high turnover of tenants unless it is a cbd crash pad for city worker/couple who then travel back to central coast/south coast/bush for their weekends.

 

[Spades]

Hi HTO,

From your post it appears a caravan or a tent would have more amenities?

Here's a thread i posted last year,maybe you could vica versa?

http://somersoft.com/forums/showthread.php?p=1097603#post1097603

Ps.I sprayed my laptop reading your post

 

[Scott No Mates]

Spades, I hope that you have disinfected the keyboard

HTO, management fees, cleaning, advertising, maintenance, rates etc easily chew up 50% of your income in these operations. Why would letting it outside of the pool be any better than the on site management?

Do you have the opportunity to self advertise the vacant periods in addition to management?

 

[marg4000]

Check with your body corporate by-laws. In some cases the onsite manager has exclusive renting rights and other PMs are not allowed.
Marg

 

[HTO]

haha spades, sorry about your laptop. Now you have a reason to give it a good clean

I'm no slum lord, the studio is very nice. It just doesnt have the cooking amenities. At the moment, i'm just using it for personal use as a holiday. Onsite manage is not equipped for holiday letting yet, as they mostly do long term rentals. Other onsite units are not studios.

Thanks for the comments though.