2. 3
Xmas/New Year Edition, 2016/2017
PRESIDENT
John Gilmovich
John@poansw.com.au | 02 9363 3949
1ST VICE PRESIDENT
James Ruben
James@poansw.com.au | 02 9363 3949
2ND VICE PRESIDENT
Simon Ruben
Simon@poansw.com.au | 02 9363 3949
SECRETARY
Peter Dormia
Peter@poansw.com.au | 02 9363 3949
TREASURER
Robyn Hamilton
Robyn@poansw.com.au | 02 9363 3949
COMMITTEE OF MANAGEMENT
Rick Banyard
Rick@poansw.com.au
Mark Dodgson
Mark@poansw.com.au
Susanne Gervay
Susanne@poansw.com.au
IN THIS EDITION
02 9363 3949 poansw.com.au
PO Box 329, Bondi Junction, NSW 1355
The Property Owners’Association of NSW Inc.
CONTACT US
HONORARY SOLICITOR
Paul Egisto
egistosolicitors@bigpond.com
02 9713 2000
HONORARY ACCOUNTANT
Alex Whitehead
alex@alexwhitehead.com.au
02 9966 4499
WELCOME TO OUR NEW MEMBERS:
PRESIDENT’S REPORT 3
xmas function INVITATION 4
dealing with criminal
tenants in your
rental property 5
are you processing
tenancy applications
properly? 8
property inspection
report law change helps
home buyers in nsw 9
advertisement: crystal
meth and its hidden
dangers 10
landmark supreme
court appeal case
sends a clear message
to landlords who let
run down properties 10
new residential
buildings to fall by 50% 13
Landlord Q & A’s 14
investor housing
demand rises as
owner occupier fades 15
fair trading and
safework says asbestos
contamination incident
a cautionary tale 16
brisbane house vacancy
rates second highest in
the country 17
strata managers face
a shake up 18
Domain house price
report - september 2016 19
new tenancy agreements
in force from 30
October 2016 19
failed off-the-plan
apartments deemed
‘second-hand’ 20
what are the implications
of privatising land
title offices? 21
fair trading fact sheet -
new laws for loose-fill
asbestos insulation 23
Retail lease reforms
support SMEs 24
a letter from facs -
transfer of responsibility
for part 4 of boarding
houses act 25
COVER PHOTO CREDIT: The Bondi To Coogee Walk by karlnorling https://flic.kr/p/jm5pJA
So here we are again counting the
final few weeks to the end of the
2016 and looking forward to what
matters most to me and probably
most to in that is spending quality
time with your loved ones.
What an interesting year in the
property space for NSW. After 5
years of consultations & lobbying
NSW finally receives its new strata
laws which commence this month
on 30th November. Electronic
voting, Skype meetings, tenants
rep meeting attendances, clearer
process to wind up a strata plan
and no“gun to your head”
approach with management rights
and terminations as some of the
key benefits to those living in
strata plans.
Residential Tenancy Act 2010
placed under the 5 year compulsory
review. Health & safety compliance
in property a key issue. Loose fill
asbestos disclosure law passed and
we have a new updated tenancy
agreement in place from October
30th. Domestic violence victims
to be protected with a no penalty
termination clause inside a fixed
term lease being mandated by NSW
Govt. Landlords expected to be out
of pocket. POANSW meeting with
the minister for further discussion
to a find balance. New Rental Bonds
Online service introduced to receive
and refund a tenants bond.
Meth labs inside rental property
a growing problem. Last months
POANSW“ dealing with criminal
tenants”seminar revealed how
widespread the problem is and
what devastating affects on a
property may arise as a result.
Correct tenant selection processes
a key to avoid this occurring to
you. A summary report inside this
month’s journal.
New consumer complaints register
introduced by Fair Trading. Lifts the
lid on industry type and brands with
at least 10 complaints in one month.
Franchised real estate agents, well
known brand retailers and airlines
top the list.”Open & transparent
consumer data”a big ticket item
for Fair Trading this year.
We started the year with the carry
over from the 2015 state election
and of course this years federal
election of discussions around
what to do with negative
gearing, property tax reform,
stamp duty, land tax and the
media’s hot topic of the year
housing affordability. Land tax
continues being the contentious
issue for our members and property
investors at large going into their
retirement years on reduced
incomes with huge land tax bills
eroding rent returns due to the
growing land values/property prices
in NSW and rents not keeping up
the pace of increase (12 month rent
growth less than 2%). The so-called
affordability crisis is never far from
the headlines and it stepped up
in prominence late October with
Federal Treasurer Scott Morrison
declaring he was serious about
fixing the problem. But of course he
wasn’t serious at all. He essentially
dumped the problem at the feet
of state governments, with a
generalised assertion that taking
steps to increase dwelling supply
will make everything better.
That’s one of the subject’s
biggest furphies – a simplistic
policy of lifting supply won’t force
down prices unless the idea is to
deliberately generate a major
oversupply. One thing Morrison
got right was his statement that you
won’t fix the problem by crashing
the market. Property tax reform
is political suicide for ministers to
make decisions and there are too
many stakeholders in this debate
that have a vested interest. There
lies the problem. To many opinions
and no leader to take charge to
make the hard decisions. Last year
another inquiry was initiated by
the House of Representatives
economics committee but,
according to reports last month
that has lapsed through lack of
energy. So where are we after all
that talk, talk, talk about tax reform,
exactly the same place we were
before Scott Morrison stepped up
to the microphone – nowhere
closer to any solutions.
Our traditional Xmas function
awaits you. Your invitation over
the page. We are excited and look
forward to this year’s guest speaker
Mark Tedeschi QC who will share
some incredible personal stories.
I look forward to seeing you all in
person and if I don’t, I wish you
and your families a happy and safe
festive season.
- JOHN GILMOVICH
PRESIDENT’S REPORT
I. Lin
L. Mobbs
R. Goldsmith
M. Tedeschi
P. Stenhous
P. Perera
G. Michie
R. Falcomata
B. El Ali
3. 4 5
Xmas/New Year Edition, 2016/2017THE PROPERTY OWNERS’ ASSOCIATION OF NSW INC.
7th december, 2016
6pm 'til late
the hughenden hotel,
14 queen st, woollahra
cost: $65 per person
rsvp by: 1st december, 2016
click here to purchase your tickeT
special guest speaker presentation by:
mark tedeschi am qc, senior crown prosecutor for nsw
'crime & punishment - lessons learned from over
30 years in the criminal courts'
program:
6pm – Drinks on Arrival
6.30pm – Food Served
7.30pm – Special Guest Speaker/Q & A
8.15pm – President’s Speech for the Season
8:30pm – Luck Door Prizes Draw, Sponsored by EPIG
9pm – Evening winds up
Last month the POANSW presented
a workshop to its members on
how to deal with criminal activity
inside their rental property. Our
guest speakers were two NSW
Police constables who had vast
experience in handling domestic
violence issues and also handling
occupants of rental property who
have set up a meth lab. Also in
attendance was an expert on
the topic, Brian Crawford of
“Ice Breakers”, who provide a
contamination and detection
service. Mr Crawford walked us
through a presentation of how
far and wide this issue has spread
across the country and why it was
important for property owners to
be mindful of such activity and
catch out the culprits early.
What Landlords Need to
Know About Meth Labs
Landlords everywhere need to
understand the importance of
educating themselves on meth labs
and rental properties, especially on
the physical dangers and the
immense financial impact.
Many cities across the country are
seeing a rise in the production of
methamphetamine, or meth.
Meth is an addictive drug that can
be created or“cooked”in makeshift
laboratories; these can be set up
temporarily and moved easily.
Meth is relatively inexpensive and
easy to make, so it is a common
activity for those looking to make
some fast money.
Meth labs have been discovered in
just about any city, large or small.
If you think your city is an exception,
you are probably wrong.
As a landlord, you need to become
educated on the impact of meth
labs in rental properties.
Effects of Meth Labs
The most significant impact from a
meth lab in a rental property is the
contamination of the unit where
the drugs are manufactured.
People who live in a home where
a meth lab has been operating
previously often suffer from a
range of health issues.
From inhalation to absorption
through the skin, the toxins
from meth production can cause
problems, even from short-term
exposure.
Common ailments include
headaches, nausea, fatigue,
respiratory issues like coughing,
chest pain, skin burns, kidney
damage, cancer and even death.
A meth lab in a rental property can
be a landlord’s worst nightmare
— from the illegal activity to the
destruction of the property to
the immense cost of cleanup.
The government monitors the
cleanup process for properties
with former meth labs, so until a
property gets a clean bill of health
(often several months later), the
landlord cannot rent it out,
resulting in more lost income.
DEALING WITH CRIMINAL TENANTS INSIDE YOUR
RENTAL PROPERTY
catered evenT + guest speaker + lucky door prizes + networking
THE PROPERTY OWNERS ASSOCIATION OF NSW INVITES YOU
2016
xmas cocktail function
4. 6 7
Xmas/New Year Edition, 2016/2017THE PROPERTY OWNERS’ ASSOCIATION OF NSW INC.
• Rip Out and Remove — Any
contaminated material will be
removed, which often results
in small demolition projects.
Anything absorbent, like
curtains, carpet, furniture,
wallpaper and more must be
removed. Contaminated objects
like sinks, tubs, toilets and pipes
must also be removed.
• Washing — Clean-up crews will
perform a chemical washing of
nonporous and semi-porous
areas like tile, walls, ceilings,
countertops and more. In
extreme cases, these things
must need to be replaced.
• Clean Vents — The ventilation
system will be cleaned and all
air filters replaced. Ductwork
and surfaces will be thoroughly
washed out as well.
• Clean Plumbing Systems —
The cleanup crew will flush
the plumbing system with a
chemical cleaner to take care
of any contamination in the
system. In extreme cases, the
plumbing system must
be replaced.
There are other steps that a
clean-up crew may take depending
on the location, severity and
contamination levels from the
meth lab.
Once the clean-up is done, the crew
must perform tests to ensure that
the unit is safe for future tenants.
All states have set standards for
testing that ensure the health and
safety of any future occupants.
If the property fails the test,
then more work is needed. If the
property passes the health and
safety test, the property owner will
receive documentation stating that
it is fit for occupancy.
Landlord Responsibilities
for Disclosure
Renting a property out again once
it has been certifiably cleaned up
can also be a challenge for some
landlords. Many states including
NSW require landlords and/or their
agents to disclose whether or not a
rental property has been the site
of previous methamphetamine
contamination. Not dissimilar to
the duty of disclosure for rental
properties that contain asbestos,
damp issues or lead paint, it is a
grounds of termination by a
tenant and they have a right
for seeking compensation.
Preventing Meth Labs in
Rental Properties
With the significant financial impact
of discovering a meth lab in their
rental property, many landlords
are desperate to figure out ways
to prevent tenants from ever
considering it.
There are three things landlords
can do to minimize the likelihood
of residents bringing in a meth lab.
1. Conduct Good Tenant
Screening. Checking out a
tenant’s past history is one of
the best ways to see what
they will be like in a new place.
Good tenant screening means
obtaining a rental application
form from the prospective
tenant, calling previous
landlords/agents and verifying
that they are legitimate,
checking employment
references, verifying income
and obtaining multiple
identification documents. While
a clean background check
doesn’t guarantee anything, it
reduces the odds significantly.
2. Stay Involved. It’s easiest to
set up meth labs in rental
properties where the landlord
doesn’t engage with the
property often. Landlords
should include regular
inspections in the lease
agreement if their state allows
it, and make the tenant aware
that they will be on hand to
do repairs and other regular
maintenance as needed.
Landlords that don’t get
involved in their property
make it easy for meth labs to
thrive. Tenants are less likely to
participate in illegal activities
in a rental property if they
think they can be discovered
at any time.
How Does a Meth Lab
Affect the Property?
Meth labs are frequently set up in
all kinds of spaces, such as storage
sheds, campgrounds, motel rooms,
vacant buildings, garages and rental
homes and apartments.
The process of cooking meth leaves
a toxic residue that contaminates
walls, ceilings, furniture, and even
the soil.
These toxins can have significant
health effects on anyone else who
is exposed for the short-term and
the long-term.
The chemicals used to cook meth
are highly toxic, but they are
also volatile and therefore
highly combustible.
It’s very easy for meth labs to cause
explosions, damaging the property
as well as neighbouring areas, plus
endangering lives.
A property owner is responsible
for the cost of clean-up from an
operating meth lab.
The clean-up is not just limited to
scrubbing and removing garbage.
Often running into the tens of
thousands of dollars, meth lab
clean-up is strictly regulated and
must be inspected by a government
agency before a property can be
deemed livable again.
If a meth lab has not been properly
cleaned, the property owner will
not be allowed to rent it out.
A meth lab location must be
cleaned by professionals, and it
gets very expensive.
When a meth lab is discovered in
a rental property, the owner of the
property is responsible for the cost
of clean-up.
While some insurance companies
don’t cover damages from meth
labs, landlords should investigate
their policies and be prepared.
They must work closely with their
insurance company for assistance
in clean-up and in selecting a
certified clean-up crew.
Clues to Identifying a
Meth Lab
Some of the clues of a meth lab
that a landlord may notice while
inspecting a property include
empty containers and boxes from
chemicals. Other clues include
stained soil or concrete, as well
as dead grass from chemicals
being dumped.
Large quantities of over the counter
medications like decongestants,
stimulants or asthma medication,
paint thinner, lye, Freon, acetone,
iodine, hydrogen peroxide, sulfuric
acid, phosphoric acid and ammonia
are generally present.
Meth lab equipment might include
rubber hosing, duct tape, bottles
and other glass containers,
pressurized cylinders, camp stove
fuel canisters, propane tanks and
respiratory masks.
Other residents or neighbours may
notice strong chemical odours in
the area or complain about certain
health conditions, like skin
irritations, headaches and
respiratory problems.
Neighbours may notice increased
night activities at the rental
property as well.
Landlords may notice a new
security system installed without
permission, covered windows and
an above average amount of trash.
If a landlord notices an excessive
amount of any of these items, they
should not disturb anything and
should notify the police
immediately.
Meth labs are essentially sites for
hazardous waste and should only
be entered by professionals who
are trained to deal with them.
Certified Cleanup Process
Cleaning up after a meth lab
focuses on primary areas of
contamination and secondary areas.
Primary areas of contamination
include the cooking area where
everything from walls, floors,
ceilings and any furniture may
be affected.
Disposal areas, like sinks, toilets,
septic tanks, fans, vents and storm
and sewer systems, are also
considered primary areas
of contamination.
Any storage areas that may have
held chemicals before or after
cooking also need cleaned properly.
Secondary areas of contamination
would include other rooms near the
lab, hallways, and common areas
where contamination may
have occurred.
A properly equipped and trained
hazardous material company must
do the cleanup of a meth lab.
They will secure the site for
the police investigation, and
when given permission by law
enforcement, they’ll remove the
chemicals and equipment carefully
and secure the site from trespassers.
Then, the real clean-up begins.
Here are the general steps to
properly cleaning up a meth lab
that the professionals will follow:
• Air Out Property — Some
chemicals will lose some
potency when the area is
allowed to properly air out.
This also reduces some odours.
5. 8 9
Xmas/New Year Edition, 2016/2017THE PROPERTY OWNERS’ ASSOCIATION OF NSW INC.
3. Be Observant. Landlords who
get to the property for repairs
or maintenance should pay
attention to any suspicious
activity. Landlords can also
get to know the neighbours and
leave a business card, asking
them to call if anything
suspicious is going on at the
rental property. Having lots
of eyes and ears on the rental
property can discourage
tenants who may consider
setting up a meth lab there.
Landlords Are Victims, Too
The production and distribution of
illegal drugs affects so many people
in this country, and landlords are
just some of the victims.
Landlords suffer financially from the
huge bills from cleanup and repair,
legal fees to evict tenants, possible
costs to relocate other tenants,
insurance issues and the difficulty
of re-renting or even selling a
previously contaminated property.
Meth labs in rental properties are a
growing problem and one that can
ruin a property owner’s business
and harm innocent people in
the process.
RESOURCES:
1. Download a tenancy application
form from POANSW members
area of our website
2. Crime Stoppers- Report
anonymously suspected meth
lab activity - 1800 333 000
3. Brian Crawford of Icebreakers:
meth contamination tests, meth
detection devices - 0422 570 224.
Are you processing tenancy
applications properly?
At our recent seminar on dealing with criminal tenants, John
Gilmovich our expert in property management affairs, outlined that if
you are a DIY landlord with limited experience in handling tenancy a
crucial part of the process of sourcing a tenant is that you MUST
thoroughly check your tenant’s application before you make a
decision to accept them as tenant. Here are some of the items
you should check before approving their application:
• Obtain clear copies of at least 100 points of I.D. e.g. local driver’s
licence and international driver’s licence if they are from abroad,
their passport, copy of their Visa/stay rights/restrictions, credit
cards, Medicare cards, utility records such as a mobile phone bill,
electricity and gas bill and bank statements.
• Current rental references – we recommend you start here, as
this reference will either encourage you to continue reference
checking, or discard the tenancy application altogether if the
reference is really poor.
• Previous rental references – this is useful to check, to see if there
is consistency in the tenant’s rental history. Have they always been
good, reliable tenants, or is this a recent improvement? Where
possible, obtain written references signed by the previous agent
or their landlord. Also obtain their rental history ledger or proof
of payment summary like bank statements to see consistency.
• Employment and/or income – you need to make sure that the
income your tenant is claiming to earn is accurate and that their
income (or business, if they’re self-employed) is secure and reliable
going forward. We suggested that you do a Google search for the
employer and phone them on the publicly listed phone number,
rather than any mobile number given to you by the tenant on the
application. This ensures that you speak with the actual business
owner or their HR and not one of the tenant’s“friends”. A.S.I.C.
searches are available for companies as well as ABN numbers for
registered businesses to confirm it is a legitimate business. Self
employed tenants should provide at least the last 2 years tax
returns as proof of their financial affairs.
• Tenancy databases – even though
tenant default databases aren’t
always reliable and up to date,
we suggest you perform a
search anyway. It provides some
protection and proof that you’ve
fully checked the tenant. Visit
POANSW“members area”on
our website for access to
tenant database checking.
• Personal referees – these referees
aren’t always reliable and are
usually pretty biased. But
sometimes, these people can be
really useful to talk to, especially
if you are able to get to a casual
conversation happening with this
referee. Occasionally, something
candid and useful will slip out
during this conversation, so it can
be a useful phone call to make. In
the worst case scenario, should the
tenant go missing or has done the
runner on you, these contacts can
become a valuable source
of information.
POANSW has
provided a
Tenancy
Application &
Identification
checklist free of
charge to its
members in the
“members area”
called “tenancy
forms”.
Property inspection report law
change helps home buyers in NSW
When a prospective buyer asks for a contract of sale,
the agent must let the buyer know about property inspection
reports done for that property. This should make it easier and
possibly cheaper for the buyer to find out about the
property’s condition.
By being informed about the reports already commissioned, the
buyer can choose to negotiate a cheaper price to repurchase a
report, instead of commissioning their own.
How does this work?
Agents are required to record and disclose information about
strata reports as well as building and pest inspection reports.
The agent is obliged to:
• Keep records of reports they are aware of
• Include report details that they can obtain such as:
»» The date of the inspection
»» Who requested the report
»» If the report is available to be repurchased
»» Contact details of the report’s author for the buyer
»» If the report author has public indemnity insurance.
Will the buyer receive updates when new
reports are commissioned?
The prospective buyer receives the information about the reports
that is available at the point in time when they request a contract
of sale. They are not informed for every subsequent report that
may be commissioned afterwards.
Does this mean sellers and prospective buyers
have to tell agents about certain reports?
No, sellers and interested buyers are not obliged to provide
this information.
If an agent seeks information from a seller or an inspector but
they refuse to provide it, then the agent has still followed their
legal requirement to make reasonable efforts to gain the
information about available reports.
6. 10 11
Xmas/New Year Edition, 2016/2017THE PROPERTY OWNERS’ ASSOCIATION OF NSW INC.
SOURCE: The Age, 08/0920/16.
The rental house in the small Gippsland town of Port
Albert was in a terrible state.
There were holes in the walls, rats and mould blooming
everywhere. It was prone to flooding and sinking in one
corner. The original rental condition report repeatedly
described it as“filthy”,“disgusting”and“dangerous”.
But disability pensioner Vikki Shields could find
nothing else.
The front of the property. Photo: supplied.
Now a landmark Supreme Court judgement has found
Victorian tenants such as Ms Shields have the right to
expect their rented home is maintained in“good repair”,
even when it is initially rented out in poor condition.
Vikki Shields, who struggles with mental illness, had
been homeless and sleeping in her car when she first
signed the lease. She had no other options:“When
there’s no housing that’s affordable, you reach rock
bottom...I would have slept in a cow shed”.
The dilapidated rental house in Port Albert.
Photo: Supplied.
“I don’t want anyone to walk in the shoes I did,”said Ms
Shields.“I couldn’t find anywhere else to rent and I got
so down mentally. It has to change and we have to be
treated like humans.”
The Supreme Court judgement found the property
was zoned in an area with a“floodway overlay”due to
its location. In winter the land was regularly inundated
with water which would cover the ground.
Vikki Shields and her Victoria Legal Aid lawyer, Miles
Browne. Photo: Supplied.
As a result, the property was damp all of the time, with
much of the woodwork rotting and damp carpet. The
house was also sinking in the right-hand corner. The
area around the property was unusable for parts of
the year due to water.
Mould permeated the house, clothes, sheets and bed,
it found. Ms Shield’s personal possessions became
mouldy as well, including drapes, shoes, clothes and
blankets. It was scrubbed back but would return.
The broken roof. Photo: Supplied.
landmark supreme court appeal case sends a clear
message to landlorDs who let run down properties
You may have started seeing newspaper articles or
hearing in the media lately about the contamination
of homes by meth labs and by crystal meth users
smoking the drug indoors. Only one in ten meth
labs are reported to be found, the other 9 are going
undetected with unsuspecting people living in them.
For example a family of five in Victoria had purchased
a home, only to find two years down the track it was
an ex meth lab. Scientifically analysed hair samples
showed the six-year-old boy had as much meth in his
system as a chronic meth user. That family owned their
own home, imagine the consequences if that was a
tenant in“your”investment property.
“A landlords responsibilities, include treating potential
health-threatening issues as part of their obligation to
provide a habitable premise”
• Only 1 in 10 are being found, there are 891 that
have gone undetected last year.
• Over the last 4 years there could be 3,500
undetected meth labs in our communities.
• Smoking crystal meth will contaminate above
the recommended level of 0.5µm/100cm².
• 1 arrest in Australia every 15 minutes for
amphetamine type substance possession or use.
• Over a 2 week period in Liverpool, police tested
drivers and found more with meth in their system
than alcohol.
• Are there users smoking crystal meth in your
investment property?
Home purchasers are starting to have properties
(especially ex rentals) meth tested along with a pest
inspection and building inspection. You don’t want to
be landed with a very expensive decontamination bill.
Tenants too are becoming cautious about renting an
unhealthy home.
So how do you as a landlord protect your investment
against meth contamination?
Meth Labs
Well, you can protect your investment property with
“The Ice Breaker”, a small meth lab detection device
that is covertly placed within your property.
The Ice Breaker will sniff the air every 4 hours for 12
months (life of the battery). On detection of certain
odours released during the manufacturing process of
the drug Ice, The Ice Breaker will send a text message
to your mobile phone which will include the time, date,
address of your investment property and the volume
of odour detected.
For more information on The Ice Breaker please visit
www.ipsmaustralia.com.au “The Ice Breaker”
Special offer to the POANSW members.
Normally The Ice Breaker would retail for $595.00 + GST
however as a member of the POANSW, IPSM has
negotiated a $100.00 discount. That makes this
amazing device really affordable at $495.00 + GST.
Don’t forget it’s 100% tax deductable.
Undetected Meth Labs and Smoking Crystal Meth
If you, as a landlord are looking to recoup some, if
not all, the costs of decontaminating your rental after
tenants have been smoking or manufacturing crystal
meth, then you can create a base figure at the start of
a tenancy or at any stage during a tenancy agreement.
If in the future the levels are above the base level then
you have something to fall back on in your attempt to
have the decontamination costs reimbursed by
the tenant.
The first test needed is a presumptive test which will
give an on the spot positive/negative result only. If a
positive test is returned the next step is a laboratory
test to show individual test levels.
For more information on Meth Testing please visit
our website at www.methtesting.com.au
Third party advertisements and/or links to other
web sites where goods or services are advertised are not
endorsements or recommendations by POANSW of the
third party sites, goods or services. Your access to or use
of them is at your own risk.
ADVERTISEMENT:
Crystal Meth and its hidden dangers
7. 12 13
Xmas/New Year Edition, 2016/2017THE PROPERTY OWNERS’ ASSOCIATION OF NSW INC.
Just because a person had a low income, they
should not forgo the right to a decent home, said Dan
Nicholson, the head of civil justice access and equity at
Victoria Legal Aid.
“Ms Shields had little
bargaining power in
the market and was
desperate to put a roof
over her head,” he said.
“Adequate housing is a
basic human right and no
one in Victoria should live
in the conditions that Vikki
Shields did for five years.”
Mr Nicholson said minimum standards for rental
properties should be clearly spelled out, and called on
the government to do this in its current review of the
Residential Tenancies Act.
Mould on the roof. Photo: supplied.
Ms Shields no longer lives at the Port Albert property.
WE
WOULD
LIKE
TO HEAR
YOUR
VIEWS
The POA’s Facebook
is Your Voice
to like us, post a comment
& join the conversation.
CLICK HERE
Source: BIS Shrapnel.
New multi-residential buildings for
the whole of Australia are forecast
to plummet by 50% by 2020, but
there will be a tsunami of supply
over the next 12 months, except
in NSW.
This is according to analyst and
forecaster BIS Shrapnel, which has
released its Building in Australia
2016-2031 report.
It revealed, however, that NSW will
buck this forecast trend and remain
undersupplied for some time, even
though it, too, will experience a
slowdown in home building.
Nationally an all-time high
of 220,100 dwellings
were started in 2015/16,
driven by stock
deficiency and record
low interest rates.
BIS Shrapnel’s
report says that
new dwelling starts
are expected to
continue to track at
a historically high
level over the next
12 months.
However it did say it will
slow down over the next
three years because of the
population growth slowing
and a backlog of dwellings
being completed, resulting
in supply outpacing demand.
Dr. Kim Hawtrey added:
“New commencements of
multi-residential dwellings are
forecast to fall by 50% over the
next four years, from around
107,000 currently to just 53,800
by 2019/20.
“With investors facing finance
restrictions and first home buyers
sidelined, it will be up to upgraders
and downsizers to help cushion the
decline in activity.“But we’re not
confident, given that the national
stock deficiency will have been
largely satisfied by 2017.”
The report also forecasts that
overseas migration will continue its
downward trend for the next few
years, resulting in a weaker outlook
for population growth.
Dr. Kim Hawtrey said:“Low interest
rates have unlocked significant pent
up demand and underpinned the
current boom in activity, but with
population growth slowing and a
strong backlog of dwellings due for
completion, new supply will soon
start to outpace demand.”
He added that this will see the lack
of dwellings gradually reduced, with
most key markets display showing
signs of oversupply, except
for NSW.
New residential buildings to fall by 50%
“New
multi-residential
buildings for the whole
of Australia are forecast
to plummet by 50% by 2020,
but there will be a tsunami
of supply over the
next 12 months,
except in NSW.”
8. 14 15
Xmas/New Year Edition, 2016/2017THE PROPERTY OWNERS’ ASSOCIATION OF NSW INC.
Q: I inspected an apartment a few days ago and decided I’d like to rent it,
so paid a holding deposit to the agent. I’ve just found out the landlord
has withdrawn the apartment from the tenancy market and won’t enter
into an agreement with me. Are they allowed to do this?
A: A landlord or agent must not require or receive a holding fee from a tenant unless the
tenant’s application for tenancy of the residential premises has been approved. The fee cannot
be more than one week’s rent.
If a tenant has paid a holding fee, the landlord must not rent out the residential premises to any
other person within 7 days of receiving payment for the holding fee, unless the tenant notifies
the landlord that they no longer wish to enter into the residential tenancy agreement.
Upon signing the tenancy agreement, the holding fee will go towards the rent from the first
day of your tenancy agreement.
Even if your application has been approved, neither party can be compelled to proceed with
an agreement. If the agreement does not proceed, the landlord or agent must refund your
holding deposit in full.
Landlord Q & A
Holding deposits
Q: I’m in the process of renting out my property and becoming a
landlord for the first time. When I take a bond from a tenant, can I keep
it in my own bank aCcount? How much bond can I ask they pay upfront?
Also, how much rent can I ask the tenant to pay upfront?
A: No, you cannot keep the bond in your bank account.
The maximum bond a landlord can charge is 4 weeks’rent. This applies regardless of whether
the property is furnished or unfurnished.
If you are a self-managing landlord, the bond must be lodged with NSW Fair Trading within 10
working days of receiving the bond.
If you have employed an agent, they have 10 working days from the end of each month to
lodge all bonds received during that month.
Bonds can be lodged either through a paper-based process or through Rental Bonds Online.
Rental Bonds Online is a service for tenants, agents and private landlords to lodge, manage
and refund rental bond money more securely and easily.
After taking the bond from a tenant, the landlord or agent must provide them with a receipt
or record the payment details on the tenancy agreement.
Remember, you cannot require the tenant to pay more than 2 weeks’rent in advance. Apart
from the rental bond and 2 weeks’rent in advance, you cannot ask the tenant for any other
money at the start of a tenancy.
BONDS
SOURCE: Corelogic RP Data.
Housing finance data for August 2016 was released
by the Australian Bureau of Statistics (ABS). Over the
month there was $31.4 billion worth of housing finance
commitments which was -1.0% lower over the month
and -5.1% lower than it was at its peak in April 2015.
The $31.4 billion worth of commitments in August was
split between $19.5 billion worth of commitments by
owner occupiers and $11.9 billion in commitments to
investors. The value of lending to owner occupiers has
fallen over two consecutive months while lending to
investors has risen for the fourth consecutive month.
The value of lending to owner occupiers is now -8.6%
lower than its peak in December 2015. Investor lending
remains well below its April 2015 peak, down -18.5%
however, the recent rebound has seen the value of
investor lending increase by 10.0% from its recent
trough in April 2016.
The $19.5 billion worth of mortgage borrowing by
owner occupiers was comprised of: $1.8 billion for
construction of dwellings, $1.0 billion for purchase
of new dwellings, $6.4 billion for refinancing of
established dwellings and $10.2 billion for purchase
of established dwellings. The two largest components
of owner occupier lending; refinancing and purchase
of established dwellings, have both trended lower over
recent months.
The value of refinance lending is -13.4% lower than its
peak of $7.4 billion in December 2015 and purchase of
established dwellings is -11.2% lower than its $11.5 bil-
lion peak in September 2015.
With an interest rate cut which wasn’t passed on in full
by most lenders in August, there is a decent probability
that refinance activity will increase over the
coming months.
For investors there was $11.9 billion in mortgage
lending in August 2016, which was split between $0.9
billion in lending for construction and $11.1 billion
for established housing.
The value of lending for construction was at its lowest
level since September 2015 and down -49.5% from its
recent peak of $1.7 billion in March 2016. The $11.1
billion in lending for established housing has increased
over four consecutive months and is at its highest level
since August 2015. Housing credit data also highlights
the recent up-tick in investor mortgage lending with
monthly investor credit data increasing over each of
the five months to August 2016.
Focusing solely on new construction which includes
owner occupier construction of dwellings, owner
occupier purchase of new dwellings and investor
lending for construction, there was $3.7 billion in
lending in August 2016.
The $3.7 billion was the lowest value of lending for
new housing since September 2015 with lending for
new housing having trended lower since March 2016.
Based on this data, only 14.9% of the total value of
housing finance commitments in August 2016 were
for new housing. Of the $3.7 billion, 23.1% of
lending was to investors.
Investor housing demand rises as owner
occupier fades
9. 16 17
Xmas/New Year Edition, 2016/2017THE PROPERTY OWNERS’ ASSOCIATION OF NSW INC.
The trends are emerging whereby demand from the
investment segment is increasing again while owner
occupier demand is slowing. Although investment
demand is lifting, it is not expected to lift to the
substantial levels recorded earlier in the current
housing cycle.
The fading demand from owner occupiers reflects
that many have already upgraded or downgraded in
the current cycle as much as the fact that particularly
in Sydney and Melbourne it is probably getting a little
harder to justify a move in the context of significant
transactional costs. When owners look at the cost of
upgrading and the market exit cost (agent commission
etc) and entry costs (stamp duty) many are probably
now considering a renovation as a better option
than moving.
Housing market listings have increased in spring and
over recent months auction volumes and clearance
rates have also increased.
It will be interesting to see whether this translates into
a lift in housing finance commitments over the coming
months as the data becomes available.
Fair Trading and SafeWork
says asbestos contamination
incident a cautionary tale
SOURCE: Fair Trading
NSW Fair Trading Commissioner Rod Stowe is
warning consumers to be cautious about engaging
contractors offering roof restoration services
following an incident where asbestos removal
work was not undertaken within relevant
regulations at a Fairfield residential property
in August.
Mr Stowe said a 61-year-old Fairfield resident
responded to a an advertisement displayed on a
road side trailer offering full roof restorations and
accepted a $3000 quote to undertake work on
her home.
The trader applied water via a high pressure vessel
to the asbestos sheeting on the consumer’s roof
resulting in asbestos dust being released within
the property as well as the adjoining yard and
neighbouring properties.
The property has since been remediated by
the owners.
“Any home owner wanting to undertake roof repairs
or restoration services should identify whether this
is likely to involve working with asbestos and take
all necessary precautions,”Mr Stowe said.
“Consumers should always engage a licensed
asbestos removalist to undertaken any demolition
or removal work that involves asbestos,”he said.
SafeWork Executive Director Peter Dunphy said work
health and safety laws prohibit using high pressure
water spraying of asbestos materials.
“SafeWork NSW and Fair Trading are continuing to
investigate the incident,”Mr Dunphy said.
Anyone who is uncertain if asbestos may be present
in their home can contact their local Council or
the free asbestos advisory service
www.asbestosawareness.com.au
SOURCE: Domain Group.
Vacancy rates by capital city
Capital City Houses: September 2016 Houses: September 2015 Units: September 2016 Units: September 2015
Hobart 0.6% 1.0% 1.1% 1.6%
Canberra 0.8% 1.2% 1.7% 3.2%
Melbourne 1.5% 1.6% 2.3% 2.9%
Adelaide 1.8% 1.7% 2.2% 2.3%
Sydney 2.0% 1.8% 2.1% 2.3%
National Capital City 2.3% 2.1% 2.5% 2.7%
Brisbane 2.6% 2.5% 3.2% 3.0%
Darwin 2.1% 2.6% 4.4% 4.6%
Perth 4.2% 3.2% 4.7% 4.0%
MEDIAN RENT PRICES BY CAPITAL CITY: HOUSES
Houses September 2016 June 2016 September 2015
Sydney $530 $530 $530
Melbourne $400 $400 $390
Brisbane $400 $400 $400
Adelaide $350 $350 $350
Perth $380 $390 $420
Canberra $475 $470 $450
Hobart $330 $350 $330
Darwin $550 $550 $590
MEDIAN RENT PRICES BY CAPITAL CITY: UNITS
Units September 2016 June 2016 September 2015
Sydney $525 $525 $510
Melbourne $380 $380 $370
Brisbane $375 $375 $370
Adelaide $290 $285 $290
Perth $320 $335 $360
Canberra $400 $400 $385
Hobart $280 $283 $275
Darwin $425 $440 $480
Brisbane house vacancy rates second
highest in the country
POANSW
suggestions box
What seminar/
workshop TOPICS
would you like
to see in 2017?
have your say...
CLICK HERE
10. 18 19
Xmas/New Year Edition, 2016/2017THE PROPERTY OWNERS’ ASSOCIATION OF NSW INC.
The strata
management
industry is in
for a significant
shake up with
the “once-in-
a-generation”
changes to
strata laws
being introduced
on November
30, 2016.
What the New South Wales
Government is hailing as“modern”,
“flexible”and“reflecting”
21st-century strata living”will be
the kiss of death for many agency
agreements, as some strata
managers face the prospect of their
income disappearing overnight.
One of the government’s selling
points is“stronger accountability for
strata managers and caretakers”and
under the new laws developers and
people connected with them will
be banned from being managing
agents for 10 years from the
registration of the strata plan.
That means many managing agents
won’t be eligible for reappointment
when their existing agreement
comes to an end, and for some
that could be as early as the end of
December. This presents significant
opportunities for independent
managing agents to win new
business. For strata managers, the
rollover of agency agreements has
been an industry-wide practice.
By not being presented with a
contract for renewal, but simply
asked to roll over a contract,
executive committees have a much
easier path. They do not have a
decision to make and invariably
maintain the incumbent.
Strata managers have tended
toward the use of the rollover
practice knowing that executive
committees are unlikely to devote
time to researching potential new
providers of strata management
services. As with a doctor or a
lawyer, people tend to stick with
what they know.
Even when there is dissatisfaction
with the service provided, the
time involved in searching out
alternative providers is a deterrent
because searching out suitable
alternatives and assessing them
is not a simple process.
But the new legislation changes
things as it will not permit what
is currently common, which is
the continuation of the agency
appointment after the initial term
without formally re-contracting,
but instead just rolling over until
either party gives notice of
termination, which is usually
a three-month period.
When the new legislation comes
into force, agency agreements
between the strata managing
agent and the owners corporation
will be limited to a maximum term
of three years. After that, the strata
committee (currently known as
the executive committee) would
then be able to extend the
appointment in three-month blocks,
but only until the next annual
general meeting.
At every annual general meeting,
the managing agent will have to
disclose the services (and amount
thereof) provided in respect of
commissions received by the agent
during the previous 12 months from
entities such as insurers contracting
with the owners corporation.
Strata managers also won’t be able
to receive gifts and other benefits
from suppliers.
Many new requirements will
not impact strata communities
immediately. This includes allowing
time for pre-appointed strata
managing agents, building
managers and executive committee
members to continue in their roles
once the law reforms start.
For owners in a strata building,
there are some changes which are
long overdue. The headline news
for those interested in development
is that 75 per cent of owners in
apartment blocks will be able to sell
the entire building to developers,
regardless of objections from the
other 25 per cent.
Pet owners are getting a break;
standard bylaws will include a
default option that allows pets
unless they are excluded.
And the management of the
strata scheme is moving into the
electronic age, where a scheme
can adopt social media, video and
teleconference to hold meetings.
Voting can occur electronically and
through secret ballots, with the
possibility of sending papers
by email.
Strata Managers Face Shake Up
City Sep-16 Jun-16 Sep-15 Qtr change Annual change
Sydney $685,865 $678,244 $679,456 1.10% 0.90%
Melbourne $466,779 $446,609 $442,348 4.50% 5.50%
Brisbane $367,518 $378,327 $382,219 -2.90% -3.80%
Adelaide $301,939 $305,886 $294,481 -1.30% 2.50%
Perth $364,752 $367,632 $388,767 -0.80% -6.20%
Canberra $403,775 $398,728 $409,052 1.30% -1.30%
Hobart $251,073 $276,544 $284,417 -9.20% -11.70%
Darwin $448,418 $448,417 $431,600 0.00% 3.90%
National $536,294 $529,386 $529,950 1.30% 1.20%
Domain House Price Report — September 2016
Quarterly stratified median prices
SOURCE: Domain House Price Report.
Tenants must now be told if the premises they want
to lease contains loose-fill asbestos insulation (LFAI)
and are listed on the LFAI Register.
If the property becomes listed on the LFAI during a
tenancy, the landlord has to notify the tenant within
14 days. The changes began on 30 October 2016 and
as a result the Residential Tenancy Agreement (RTA)
now includes prescribed changes concerning LFAI.
This means landlords & their agents will need
to make sure they are aware of the options available
to make sure they are using compliant residential
tenancy agreements.
If a tenancy agreement is being signed before 30
October 2016, but the lease commencement date
is on or after 30 October 2016, you need to ensure
that the NSW Fair Trading addendum is attached
to the RTA.
The POANSW website members only access to
“tenancy forms”contains the latest updated version
of the RTA.
New tenancy agreements in force from
30 October 2016
11. 20 21
Xmas/New Year Edition, 2016/2017THE PROPERTY OWNERS’ ASSOCIATION OF NSW INC.
SOURCE: news.com.au.
Good news on prices can be hard
to come by for property buyers
trying to break into the market. But
a ruling by the tax office could offer
a glimmer of hope to locals wanting
to buy an off-the plan apartment
by putting them off-limits to
overseas investors.
Under Australian law, foreign
investors can purchase only
new properties.
If an off-the-plan sale falls through,
the property will be considered
second-hand, The Australian
reports. This means thousands of
foreign buyers will be stopped from
picking up the properties, lowering
the eventual resale price.
Confirmation on the ruling comes
amid reports of a growing number
of Chinese buyers walking away
from off-the-plan apartment sales,
forcing them to sell.
“Under subsections 15(4) and (5)
of the Foreign Acquisitions and
Takeovers Act 1975, a dwelling is
considered to be sold when an
agreement becomes binding,”a
spokeswoman for the Australian
Taxation Office said.
“If the property is onsold after
the date upon which the contract
becomes binding, and prior to
settlement, then this is considered
to be an established dwelling.
“When a property developer is
selling a new apartment‘off the
plan’, the apartment will change
status from‘new’to‘established’
when the contract for that‘new’
apartment becomes binding.
“In practice this could happen at
various times before settlement.
If an apartment is on sold after
a contract becomes binding but
before settlement, the apartment
would be considered established.
LJ Hooker chief executive Grant
Harrod told The Australian the
real estate agency was starting to
see apartments coming onto the
secondary market, particularly in
Brisbane and Melbourne.
“We have seen some developers
come to us with buildings that have
been completed but the owners
have been unable to close,”Mr
Harrod said.
“The original owners who
bought off the plan are finding it
challenging to raise capital because
the banks have raised the loan-to-
valuation requirements. There is
going to be a real issue if we start to
see construction projects not being
completed and developers getting
into trouble.”
Last month, billionaire property
developer Harry Triguboff, founder
of Australia’s largest apartment
builder Meriton, said a“very
significant”number of Chinese
buyers were failing to settle
their purchases.
It comes as a new report from
Morgan Stanley said Australia
would find itself with a surplus
of 100,000 apartments by 2018,
despite a sharp downturn in
construction, The Australian
Financial Review reported.
“Peak housing conditions have
passed and consensus appears too
complacent about the slowdown,”
Morgan Stanley analysts wrote,
adding the end to the boom would
see the loss of some 200,000
construction jobs and could push
unemployment as high at 6.5
per cent.
It followed a warning from Deloitte
Access Economics head Chris
Richardson, who said property
was set to become the“worst
investment”over the coming
decades. His comments came after
a Reserve Bank warning on Friday
about a possible oversupply of
inner-city apartments.
Property research firm CoreLogic
says around 230,000 apartments
are due to be completed across
all capital cities by 2018. Ratings
agency Moody’s warns that is more
than double the annual average
sales of apartments over the five
years to April 2016.
Last month, national property
values chalked up 52 months of
continuous growth, with capital
city dwelling values now 41.3 per
cent higher than when the current
growth cycle started in June 2012.
UBS has warned the Sydney
property market is one of the
riskiest in the world, describing it
as being in the“bubble risk zone”.
The investment bank joined
growing predictions of a looming
“crisis”in the Australian housing
market — all of which have so
far failed to eventuate.
Failed off-the-plan apartments deemed ‘second-hand’
“...A new report from Morgan Stanley said Australia
would find itself with a surplus of 100,000
apartments by 2018...”
SOURCE: The Conversation.
The New South Wales government is set to privatise
its land-titling services. This decision may provide the
impetus for other states and territories in Australia
to go down the same path.
But what are the implications of privatising the
operation of title offices for the Australian public?
What are title offices and why do
they matter?
Title offices maintain a registry that defines the
ownership and boundaries of private and public
properties and keeps records of changes to the
properties as they happen.
Details of various changes affecting the land – such as
mortgages, restrictions, leases and rights of way – are
also recorded in the registry.
So, if you are about to commit hundreds of thousands
of dollars to buy a property, you or your solicitor need
to search the registry and make sure the seller is not a
pretend owner, and the dimensions of the property are
the same as what the registry says.
Similarly, if you want to subdivide your backyard to a
sell or build a new dwelling, it is necessary to look
into the registry about what you can and can’t do in
your backyard.
Australians may do business with a title office only a
couple of times in their lives, but they do provide
services to many people every day. For example, in
NSW, about 900,000 land dealings (like transfers of
title or mortgage discharges) were lodged and
almost 53,000 new titles registered in the 2014-15
financial year.
Australia’s stable and reliable property market is a key
contributor to the country’s economy. From buying
and selling to financing property, title offices underpin
billions of dollars of economic activity every year. The
robust titling systems in Australia’s states and territories
are one of the reasons the country was among the least
affected by the global financial crisis.
Australia’s system is a simplified land registration
method that guarantees the ownership of a property if
it is recorded in the title office. Although there is always
room for improvement, this system of registration is
one of the best and most efficient in the world.
What are the implications of privatising
land title offices?
12. 22 23
Xmas/New Year Edition, 2016/2017THE PROPERTY OWNERS’ ASSOCIATION OF NSW INC.
FAIR TRADING FACT SHEET -
NEW LAWS FOR LOOSE-FILL ASBESTOS INSULATION
A number of new laws have been introduced to identify
properties affected by loose-fill asbestos insulation and to
protect residents, workers and communities.
Loose-Fill Asbestos Insulation
Register
New laws have been introduced under the Home
Building Act 1989 to establish a publicly available Loose-
Fill Asbestos Insulation Register. The Register identifies
and records:
● NSW premises where the presence of loose-fill
asbestos insulation has been confirmed; and
● NSW premises where the Government is satisfied
that there is substantial evidence that loose-fill
asbestos insulation is present at the premises.
The identity of owners or residents will not be included on
the Register.
More information is available on the Public register of
affected properties page on the NSW Fair Trading
website.
Property tagging
To ensure the health and safety of emergency service
workers, tradespeople, maintenance workers and service
providers, the new laws require mandatory hazard
labelling (or 'tagging') of properties that appear on the
Register.
More information is available on the Mandatory tagging
page on the NSW Fair Trading website.
Proactive disclosures
Amendment to section 149(2) Certificates
Changes have been made to the Environmental Planning
and Assessment Regulation 2000 to add a property
being listed on the Loose-fill Asbestos Insulation Register
as a matter to be included on a Section 149 (2) planning
certificate.
Where it is confirmed via the Register that loose-fill
asbestos insulation is present in a property, this will be
included in the prescribed matters to be disclosed.
Section 149(5) Planning Certificates
Currently, a council may include information regarding
loose-fill asbestos insulation in a home when issuing a
certificate for that property. Alternatively, they may
choose to include a generic statement on the possibility
of loose-fill asbestos insulation in pre-1980s homes on all
Section 149(5) certificates that it issues.
The Department of Planning and Environment will work
with the Office of Local Government to develop generic
wording on the possibility of loose-fill asbestos insulation
in pre-1980s homes in identified local government areas
for inclusion in Section 149(5) planning certificates.
Property transaction notifications
Property sales
The Government is considering legislative amendments
to the Conveyancing Act 1919 and the Conveyancing
(Sale of Land) Regulation 2010 to:
● Introduce a standard loose-fill asbestos insulation
warning notice, as a Prescribed Document in a
Contract for Sale, to alert purchasers of the risks
associated with loose-fill asbestos insulation in pre
1980s properties in areas known to have loose-fill
asbestos insulation affected premises.
● Require a vendor to warrant, at the time of sale of
the property, that no premises on the land contains
loose-fill asbestos insulation, unless it is specifically
disclosed in the contract.
Stakeholders will be consulted on these potential
changes and NSW Land and Property Information will be
responsible for implementing any future legislative
changes.
New laws
For loose-fill asbestos insulation
June 2016
In Victoria, if you have all the necessary
documentation you could transfer the ownership
of property in 24 hours. Many countries around the
world – including the US – cannot even dream of
such efficiency.
But what might privatisation lead to?
Uncharted territory
Title offices usually do not cost the government; they
generate revenue through the provision of land-related
services and selling land and property information.
But, if privatising title offices is being done with the
aim of improving its performance, does any provider in
Australia already have a better service in place to do the
job more efficiently than it is being done now?
Impact on individuals
Apart from the economic significance of land and
property, arguably a property could be the most
valuable asset an average person could own in
their life.
Although the announcement emphasises that the
government will continue guaranteeing titles, the
for-profit philosophy of privatisation can lay the
groundwork for the private sector to negotiate more
profitable alternatives such as the insurance-based
titling system that operates in the US.
So this may well be the starting point of moving away
from guaranteeing Australian land titles.
Impact on the public
Land information that is created in the process of
titling is accurate, assured and authoritative.
When you subdivide the backyard of your million-dollar
property, a new title is to be created. In this process, a
licensed surveyor prepares a plan, which is lodged and
registered with the title office. Before being registered,
the title office staff examine the plan to ensure the
ownership boundaries on the plan correspond with
the boundaries as marked on the ground.
Land information generated and maintained in title
offices has a documented and legally valid audit trail.
This is not only key to the property market and land
development, but is critical to many public services
such as infrastructure engineering, emergency
management, or disaster responses. Any compromise
on the private sector’s part will have significant
consequences, which could go beyond the
properties we own.
Privatisation has its advantages. But Australia’s title
offices may not necessarily be the right government
businesses to be privatised.
