Western Property May 19 2023

The State Government has introduced a bill to NSW Parliament which will deliver on a key election commitment to provide cost-of-living relief and better protection to NSW renters.

This legislation will eliminate the practice of secret rent bidding and begin the development of a portable bond scheme.

The law will close the loopholes in the existing ban on solicited rent bidding to include owners and third parties.

In addition, it will eliminate secret rent bidding by requiring owners and their agents to notify applicants of other offers from prospective tenants which are higher than the advertised price.

The legislation also aims to ensure appropriate powers are in place to design and enact a portable bond scheme that reduces the strain on renters.

The Government’s rental reforms come in response to the tight rental market in NSW, where low housing supply and rising interest rates are putting huge pressure on families, vulnerable groups, and everyday citizens.

The Government has also commenced the process of appointing a Rental Commissioner to be a voice for renters – with the position currently

advertised. Work is also underway on reforms to end ‘no grounds’ evictions, make it easier for tenants to have pets, and better protect renters’ personal information.

“Anyone who rents in Sydney knows just how anxious and challenging a process it can be to find suitable accommodation, never mind the significant costs associated with moving,” said Premier Chris Minns (pictured).

“The Government is getting on with the job of delivering on our election commitments and providing much needed relief for New South Wales renters.

“This is a sensible cost of living measure to help ease the pressure on the over 30 per cent of people in New South Wales currently renting.

“These changes will create a fairer rental regime in this state by providing greater certainty as well as flexibility for both renters and owners.”

Very Happy Sellers

YOU HAVE DONE IT AGAIN

“ Gizzelle, you are amazing! You have done it again! We are very happy with Gizzelle’s service and transparency, that’s why we have decided to sell with her again. If you are thinking of selling or buying, we highly recommend Gizzelle Powell of RE/MAX Lifestyle Marketing. ”

Very Happy Sale

I found Litsa to be a friendly, personable and highly experienced real estate agent who planned strategically with us and delivered on all her promises and follow ups to achieve a good sales result for our home. Litsa communicated with us daily, kept us appraised of qualified prospects and prepared the home to be an attractive sale, which we achieved, quickly. We always felt we were in the good hands with Litsa, she brings a level of confidence in a tough market which is a rare quality and her honest, focused approach to client’s goals made a huge difference in the final outcome. I would refer friends and family to Litsa if they were buying or selling in the areas she manages. She clearly went out of her way to meet our needs and I will no doubt keep in touch for future deals.

– Verified by RateMyAgent

Thinking of Selling or Investing? Please give me a call or SMS Litsa on 0466 969 164

The double lock-up garage with attached carport and detached high ceiling carport is perfect for parking your boat or caravan. Due to the proximity to Penrith CBD, this property is also perfect for someone wanting to work from home or set up their own business (STCA). Zoned R3 and nestled on 575sqm block with potential for granny flat or swimming pool (STCA).

With so many di erent colours, styles and designs available, it can be di cult to choose the best flooring for your home and lifestyle.

View our online magazine with over 100 inspiring pages at choicesflooring.com

Sunday 19 March to Saturday 27 May

Choices Flooring Penrith 131 Coreen Ave, Penrith (02) 4731 4242 choicesflooring.com

ORAN PARK

This is your last opportunity to secure a luxury apartment in the prestigious Metro precinct, centrally positioned in the heart of the Oran Park community.

Generously sized, these 3-bedroom apartments feature ample floor space, sophisticated style and the finest finishes.

Built in partnership with the award-winning Allen Jack + Cottier Architects and currently under construction with Richard Crookes Construction, the residences are completed to a high standard with:

• Miele oven, gas cooktop, rangehood, built-in microwave oven and dishwasher plus striking Parisi tapware, tinted mirror splashback and Caesarstone benchtop centrepiece

• Ceramic tile floor throughout with carpet to bedrooms

Apartment G.03

Interior 111sqm

Exterior 33sqm

Total 144sqm

9043 7500

FINALAPARTMENTS NOW SELLING ACT NOW!

Apartment 3.10

Interior 108sqm

Exterior 23sqm

Total 131sqm

Price $819,500

PERFECT FAMILY HOME LANDS ON THE MARKET!

What is so great about this property?

– Situated on 625sqm of land

– Fully renovated family home

– Three spacious bedrooms including built-in robes

Brand new light filled kitchen with Smeg appliances, dishwasher, microwave and ample cupboard space

– TWO Deluxe fully tiled bathrooms with rainfall showers, quality fittings, with the main bathroom featuring a double basin

– Family room that flows out to the outdoor entertaining area

Air-conditioning

Downlights and polished floorboards throughout

Renovated Internal laundry

– Huge front covered porch area

– Landscaped gardens

– Spacious backyard ideal for swimming pool or even a granny flat

Who does this property suit? A family

Arrange your inspection as soon as you can!

BUSINESSES SET TO BE UNDER PRESSURE

While Australia has so far avoided a recession, there have been signs of looming economic decline on the back of the surge in inflation which resulted in the Reserve Bank lifting official interest rates 11 times over the past year.

The impact of those rate rises can take months to affect the economy and slow down activity. Some forecasters are predicting tough times ahead, particularly for businesses.

A report by Jones Partners Insolvency and Restructuring, analysing data from the Australian Financial Security Authority, said while there has been a decline in personal insolvencies in recent years, that could change over the next six months.

Jones Partners highlighted the recent collapse of Australia’s largest frozen food distributor, Scott’s Refrigerated Logistics, as an example of the adverse impact the combination of high inflation, increased costs and labour shortages has on businesses. Among other problems for Scott’s Logistics was the failure of an expensive IT system upgrade which caused an extensive loss of clients and huge costs.

“The business was unable to pass on these increasing costs to consumers and was additionally struggling with tight profit margins from inherited, unprofitable fixed contracts,” Jones Partners said.

“The company entered voluntary administration in late February, and shortly after

decided to liquidate.”

Jones Partners noted how the COVID-19 pandemic marked a period of heavy fiscal spending and tax relief from government.

“Businesses with questionable balance sheets were able to persevere, in what was more than two years of suspended economic reality,” Jones Partners said.

“As commercial reality begins to take its course, we must now allow market conditions to dictate the future of Australian businesses once more.”

Jones Partners predicts insolvencies will mount up over the next six months, with businesses most vulnerable being those only able to survive through the pandemic due to stimulus and tax relief and others whose dealings are severely impacted by harsh market conditions due to inflation, supply chain issues and labour shortages.

We hope they are wrong. But if your business is under pressure please reach out to Bell Partners for help. Don’t wait until it’s too late.

MARK STEVENSON

THIS PROPERTY PROVIDES THE PERFECT RURAL ESCAPE WITH ALL THE EXTRA LUXURIES OF PARADISE YOU COULD ASK FOR.

Some of the great features this property has to offer: 2 Large open plan living areas with timber look tiles, Modern stone top kitchen with shark nose design soft close doors, stainless steel appliances, large storage and walk in pantry, 1 fire place in the formal lounge and rumpus/games room, 1 fireplace in the open plan kitchen and family area. 4 zoned ducted air, 5 large bedrooms with new carpets, master with en-suite and walk in robe, all with fitted cupboards.

The outdoors is the real show-stopper here with an outdoor entertainment area featuring down lights, fans, access to the garage with toilet and shower, overlooking your inground salt water pool, tennis and combined basketball court, 2.14 hectares of cleared, NOT Flood affected fully fenced land, multiple commercial sized sheds that can hold farming equipment with 3 phase power, separate alarms to the main house, the driveway runs all the way through to the sheds at the rear of the property which is suited to hold truck weight, an 8-car under cover parking space, double remote garage, 3 stables, 6 separate paddocks with water and shelter access. A large dam and bore water irrigation through the entire property, town water, a large solar power system and enviro cycle tank and so much more…

OPEN HOMES & RENTAL PROPERTY GUIDE

OPEN HOMES