More stuff to comply with for your property

Post date: July 7th, 2009

As part of the work we do in property project management in MJS Consultants, we keep an eye on legislation affecting the property market.

Did you know … That from 9 August 2009, sellers of Australian residential properties MUST have 2 residual currency devices (RCDs) installed in the property? These safety devices must be in place by the settlement date. The same law applies to owners of newly leased rental properties. And if you’re lucky enough to have an existing tenant, you have till 9 August 2011 to comply. The only exemption is if you are planning to demolish the property – but you must specify the demolition date and it cannot be more than 6 months from the date of transfer.  There can also be an exemption if an inspector agrees that a switchboard is not suitable for 2 RCDs … but you will still have to fit at least 1 RCD.

There are other “minor” additional requirements … We recommend that you contact your relevant property managers or real estate agents for more information before August 2009.

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