Wednesday, April 13, 2016

Pool Fence Regulations Modified to help sellers

For several years we have been warning landlords of the need to get swimming pool fences certified if you want to be able to rent or sell your property after April 28. Each year so far the implementation of the new regulations has been postponed for another year, but now we are being told the rules will be enforced, as from 28 April 2016. If people are unable to sell or rent their properties after that date, there will obviously be an uproar, so it is not surprising the State has relented. The question is, how will the modified rules work?”

Vendors will now be able to sell their property with a “Certificate of Non-compliance”! The buyer will then have 90 days to address any issues and obtain a certificate of compliance. One can envisage all sorts of contractual problems as sales are put on hold or cancelled because the vendor and buyer cannot agree on the effect of this on the sale price. Many buyers will just walk away from a sale rather than accept the (largely uncosted) obligation to fix the fence.

The new laws don’t seem to help landlords and tenants if the property has a non-compliant pool fence. The new law still states that a “Certificate of compliance” must be given to the tenant on entering a new lease. So no compliance, no lease. Very often the tenant will walk rather than wait.

Obviously Mr Baird is more worried about losing Stamp Duty on sales than about leaving rental properties vacant while remedial action is taken.

More details can be found at www.swimming

Monday, April 4, 2016

Swimming Pool Fence Regulations

Bowing to the inevitable, the rules for certification of swimming pool fences are, at the last minute, being relaxed. (Refer to several earlier posts on this issue) We are advised by Hornsby Shire Council that a property can be sold despite a pool having failed it's initial inspection, and on settlement the new owner has to fix the deficiencies within a mandated period. Obviously the purchaser will expect a price reduction, and presumably the sales contract will have to be amended, giving the buyer the chance to change his mind. Add in solicitors fees and this could result in some serious unhappiness! But at least Mr Baird will get the stamp duty from the sale!