Hi guys,
I have recently built a property on Bribie Island purely as an investment, and planned to rent it out after the 6 months is up so i dont breach any of the conditions of the 1st home buyers grant. Im currently working in W.A on the mines and will be flying over on R&R. As most of you are probably aware you can rent out as many rooms as you like as long as you still class the property as your primary place of residence.
Does anyone have any advice on how i can protect myself against dodgy tenants/lodgers as i will hardly be in the house and i believe you cannot enter into any lease agreement with these people.
Any advice on this would be greatly appreciated.How can there be no lease agreement yet still be able to rent rooms. You could even be in the lease agreement could you as having access and using the property with the people etc?
Hi Sea Ox.
Recommend you research the below website:
http://www.osr.qld.gov.au/client-group/first-home-buyer/index.shtmlAs stated on the website, the conditions of the first home owners grant are:
You will:
- move into the home within one year of buying it
- live in the home for 6 months continuously as your principal place of residence.
My understanding is you can have individual lease agreements for the rooms which you let, providing you still reside in the property as your principal place of residence. By entering individual lease agreements will also enable you to request a bond from each tenants individually.
Also don' t forget to consider the rulings from the stamp duty concession may be different ot that of the FHOG.
Looks like i was misinformed when entering into lease agreements while renting out rooms and receiving the first home buyers grant. Thanks very much for the heads up and i have decided to not to rent out any of the rooms for the first 6 months and enjoy the good times tenant free!
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