Late last year I wrote an article about the Court of Appeal decision in Holler v Osaki (Osaki). The ongoing application of this decision by the Tenancy Tribunal (Tribunal) had become rather controversial as the decision had not clarified what “intentional damage” meant.
Note: This ruling was subsequently successfully appealed. See details here
Picture this: You have worked hard and saved for ten years. You have built up enough equity to purchase a rental property (they are paying for themselves at the moment, so why wouldn’t you?) You arrange for tenants to move in and all seems well. That is, until the tenants leave and you discover they’ve trashed the place. Until recently you would have been able to claim the cost of repair of this damage from the Tenant under the Residential Tenancies Act 1986. However, this position has recently changed.
Having trouble paying your business debts? Don’t make promises you can’t keep. Give regular updates. Consider talking to your advisor sooner rather than later.
From 1 October 2016 the new investor loan to value (LVR) restrictions will take effect for registered banks. However banks have already been applying the restrictions unless you had pre-approval prior to the restrictions being announced.
There is value in the intellectual property of your business, and its worth protecting. Intellectual property can include your brand, any written materials, your experience, systems and processes and your customer database.