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This week at MBPS Main Beach Property Sales
The Most Wasted Of Days Is The One Without Laughter – E. E. Cummings
We can’t believe that October is already into full swing! Time flies when you’re having fun, right?
We have been very pleased by the decision of the Queensland State Government to repeal legislation around changes to land tax. It's short period of 'existence' (although not effective until 2023-2024) was enough to deter several investors in just our experience. it was generally thought to be ill-conceived and short-sighted during a time when housing shortages would be further exacerbated by a downturn in investor confidence. Bravo!
Property Management has been hugely busy with the introduction of new legislation and numerous new propeties coming online for lease. We have welcomed David Sheekey as Leasing Manager (amongst other tasks) to the fold and he has been busy! We recently leased the apartment in The Sands in Surfers Paradise, an apartment in Kings Row South, Paradise Waters, a 3 bedder in De Ville and the townhouse in Mermaid Waters. We are currently working on applications for Xanadu 35, Ocean Sands 72, 5/72 Marine Parade Southport and 2/3 Mountbatten Ave in Main Beach.
We have two new listings just recently in, as follows:
Yachting Towers, level 6, renovated, great Broadwater views. Listed at $1,200,000. Contact Carmen on 0410 706 726 or [email protected] to arrange a private inspection.
Contessa, high level 3 bedder with stunning ocean views @ $1.75m. Contact Mary Tatton on 0431 002 552 or [email protected] to arrange a private inspection.
Under contract this week a furnished and rented 1 bedroom in The Crest. Congratulations Carmen.
Needless to say listings are scarce, if you are thinking about selling we'd love the opportunity.
Have a great weekend!
Very best wishes,
Shelley Fuller and the MBPS Team
For and on behalf of Annette Sinclair
Principal Licensee
M 0408 218 361
E [email protected]
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Feature Property
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18/22 Woodroffe Avenue, Main Beach
Beachside Getaway - Position Perfect
You can feel the ocean just a block away when you live here. Sheltered in a tropically landscaped lot and nestled on level 3 this two bedder has fabulous bones. Once inside the apartment is beautifu . . .
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Queensland Land Tax – Common Sense Prevails
Real Estate Industry and the REIQ welcomes State Government’s shelving of land tax regime
The Real Estate Institute of Queensland (REIQ) has congratulated the state government for not proceeding with its controversial new land tax regime.
REIQ CEO Antonia Mercorella welcomed the announcement that the government had decided to scrap land tax reforms that could have damaged property investor confidence at a time of the tightest vacancy rates in history.
“Abandoning the contentious land tax regime will bring confidence back to the property investor market in a time of great uncertainty,” she said.
“The REIQ has led the charge against this land tax since December last year and we worked with various stakeholders to fight the changes.
“To send shockwaves through the private housing investment market during a rental crisis was unprecedented and illogical.
“The land tax changes would have also potentially impacted commercial property investment and national employers with Queensland domiciled premises.
“We appreciate the government’s move to shelve this retrograde tax reform and look forward to working with them at the Housing Summit in October to address the state’s housing supply issues.”
Source: Shaun O'Dowd, reiq.com.au
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It’s Arrived - The Housing Legislation Amendment Bill 2021
A Very Significant Change To The RTRA Act, For Owners And Tenants
The Housing Legislation Amendment Bill 2021 was introduced into Parliament by a Minister in June 2021 and was passed with stage 1 coming into effect on October 1, 2022.
There are a few very significant changes and notably, the RTRAA will no longer allow a Form 12 (Notice to leave) to be issued on a ‘without grounds’ basis.
However, new grounds for the issuing of a Form 12 are to be introduced and will include:
• demolition or redevelopment (2 months and not before end of fixed term);
• significant repair or renovations (2 months and not before end of fixed term);
• change of use (2 months and not before end of fixed term);
• ending of entitlement to student accommodation (1 month);
• State government program (2 months and not before end of fixed term); and
• owner occupation (2 months and not before end of fixed term).
The legislation is designed to give tenants more certainty, which is welcomed, but the by-product of that is a lot of owners feel they may have lost a little control of their own investment.
Also relevant is the increased rights tenants have been granted when it comes to pets.
Antonia Mercorella, CEO of the REIQ said: “Although tenants will have increased rights when it comes to pets, it’s important to understand that consent for pets is still required, and tenants still need to seek the property owner’s permission to keep a pet on the premises.
“However, from 1 October, property owners can no longer simply have a blanket ‘no-pet’ policy, and instead, property owners will be required by law to consider pet requests on a case-by-case basis.
“Property owners will only be able to refuse a pet request if they can establish one of the prescribed grounds available under the new laws, such as if the premises doesn’t have a fence or facilities to humanely accommodate the pet, or if keeping the pet is likely to cause costly damage to the premises or inclusions and the repair cost would likely exceed the rental bond being held.
“The property owner also needs to respond to the pet request in writing within the statutory timeframe of 14 days, or consent will be deemed. Further, if the property owner’s negative response does not align with the available grounds to decline the request, approval may be deemed under the laws.”
Ms Mercorella said that there were some safeguards for property owners in that they would be able to impose certain conditions in relation to the approval of a pet in their property.
“For example, an approval could be subject to the condition that the pet is kept outside at the premises, if it’s not the type of pet that’s ordinarily kept inside,” she explained.
“Or if the pet is kept inside, the property owner could include a condition requiring carpets in the premises to be professionally cleaned at the end of the tenancy.
“In addition, both parties should be aware from the outset that any damage caused by pets during the tenancy has been excluded from the definition of fair wear and tear, meaning property owners will be able to seek compensation for pet related damages to the premises and inclusions.”
This change will be particularly interesting for us here amongst all the high rises with the complications of body corporates. It will be interesting to see how that one plays out…
Excerpts by: Claire Ryan, reiq.com.au
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MBPS Blog - Body Corporate Levies - Claire Branson
Unnecessary And Unwelcome Cost Or A Hidden Saving?
Would you be surprised to learn that an average weekly Body Corp fee in Main Beach is just $173.00 per week?
To calculate this we have used our last 100 sales which includes everything from blocks of 6 older style units, apartments in the boutique 3 storey walk-up buildings, through to the one apartment per floor and penthouses with full resort style facilities.
The oft-maligned body corporate levy includes maintenance of grounds, maintenance and upkeep of facilities, all communal areas including the foyers, lifts, hallways, roof, drainage, fences. It includes insurances of the building and public liability for common areas, sometimes includes onsite manager fees and incidentals like pool maintenance, lawn mowing and a multitude of incidentals. It also usually covers the renovation and replacement of almost every part of the building via the sinking fund component of the levy. Add all that up and compare it to those costs when maintaining a house and, in a body corporate situation, you don’t have the stress as someone else does it for you!
You might also be interested to know that the same calculation as at 15 May 2015 was $152.29 weekly, and again, as at 17 January 2019 it was $149.26.
It can be perceived that a lot of body corporates in Main Beach, and indeed all over the Coast were a little mis-managed in the early stages and levies may have been too light on to start with in their formative years. Through the last decade or so lot owners have had to do some catching up with making sure the sinking fund had adequate funds to do what they needed to do. Most have recovered from this period and levies of some schemes have reduced. No doubt, the cost of living increases in recent times are going to have an effect.
Apartment living is a lifestyle and not for everyone, however a Body Corp levy facilitates that very lifestyle.
Author: Claire Branson
more information . . .+
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Gold Coast 500
Residents Information
Applications for Resident Accreditation are now open!
You must reside within the Race Precinct Zone to be eligible for Accreditation for the Gold Coast event. Eligible buildings are listed in the Application form - if you cannot find your building, please contact [email protected] as you reside outside the Race Precinct and will not require Accreditation.
If you will be residing in the Race Precinct Zone from 28th October to 30th October 2022, click below to submit your application for Accreditation.
Click here to apply for 2022 resident accreditation
more information . . .+
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Mr Jeeves Meme Of The Week
Wendy and Samira laughing at one of Mr Jeeve's jokes....
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Open for Inspection
Saturday 8th October 2022
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2/3653 Main Beach Parade Main Beach
Smart, Sophisticated And Contemporary!
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$895,000
10:00am to 10:30am
Saturday 8th October 2022
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| VIEW PROPERTY PROFILE |
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Monday 10th October 2022
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72 Marine Parade Southport
Renovated 2 Bedroom + Parking In Very Convenient Location
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$520 Per Week
12:00pm to 12:30pm
Monday 10th October 2022
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| VIEW PROPERTY PROFILE |
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MBPS Current Listings
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18/22 Woodroffe Avenue, Main Beach
Beachside Getaway - Position Perfect
You can feel the ocean just a block away when you live here. Sheltered in a tropically landscaped lot and nestled on level 3 this two bedder has fabulous bones. Once inside the apartment is beautifu . . .
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17/22 Woodroffe Avenue, Main Beach
The enviable Main Beach community and lifestyle can be affordable!
Take the opportunity to buy into an excellent neighbourhood at a reasonable price. Scalinada is a boutique style, 3 storey walk-up (no elevator) building located on Woodroffe Avenue. Both the beach an . . .
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24/18 MacArthur Parade, Main Beach
TRANSFORM THE SPACE - LIVE THE LOCATION
A renovator with million dollar views, a blank canvas to create your own coastal masterpiece. The potential here is immense, one of a kind...start from scratch. Located on level 8 in Yachting Towers, . . .
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43/2 Admiralty Drive, Paradise Waters
Spectacular Views and Great Location - Residential Only Building
Exemplifying Style, Serenity and Lifestyle coupled with Space and Spectacular Views - this eighth floor apartment in the sough after Atlantis East offers all of this and more! Renovated to a high sta . . .
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26/72 Marine Parade, Southport
A View From Every Room
2- large bedrooms, 1 renovated bathroom, separate laundry (oversized- could make a second bathroom), 1 car space, Air-conditioned. Hammond Towers, 1970's brick-built Broadwater facing apartment block . . .
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19/15 Breaker Street, Main Beach
UNDER CONTRACT - Sell or rent, whichever comes first!
Charming and Affordable Coastal Delight. Fantastic value, plenty of space and prime location with metres to the sand make this lovely apartment a 'must see' to truly appreciate. Cooling breezes on t . . .
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69 Ward Street, Southport
Speculate To Accumulate
69 Ward Street Southport. The block itself currently houses a 4-bedroom, brick, and tile 2 storey, double garage 1970's home. However, it's the land where the value is held.... Currently tenanted un . . .
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2/3653 Main Beach Parade, Main Beach
Smart, Sophisticated and Contemporary!
Style and Sophistication epitomise this Executive Apartment in 'Newport on Main', a tightly held boutique building where apartments rarely become available. This residential only building is beautif . . .
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Properties for Lease
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'Grand Mariner' 12 Commodore Drive, Paradise Waters
Fantastic ocean + wide open views
This super-spacious, well maintained but original apartment conveys a refined, serene atmosphere inspired by the best the Gold Coast lifestyle has to offer. The generous space transitions effortlessl . . .
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2/3 Mountbatten Avenue, Main Beach
Tri-Level Villa - sought after location in Main Beach
North facing, this stylish private property enjoys a versatile design spanning over three levels of spacious open plan living. This home exudes peaceful tranquillity - from the extensive use of timber . . .
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11 Hughes Avenue, Main Beach
Just in time for Summer - Sophisticated Beachside Lifestyle
Plus sized, luxurious. You'll fall in love... Walk through the door of this super-sized 14th floor apartment and you'll know it's for you. With a backdrop of amazing views over the lights of Main Beac . . .
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72 Marine Parade, Southport
Renovated 2 bedroom + parking in very convenient location
Features open plan living area with a/c leading out to private balcony. Separate dining alcove open to fully renovated kitchen with island bench and has a dishwasher. Both bedrooms have built-in cupbo . . .
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59 Pacific Street, Main Beach
Spectacular Ocean Views
This unfurnished apartment is situated on the 11th floor of Xanadu East offers open plan living and large balconies to take in the stunning ocean and skyline views. Features include: * Large open pl . . .
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