Can you have a commercial lease for a residential property?

Viewing 10 posts - 1 through 10 (of 10 total)

kinderyum
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@kinderyum
Join Date: 2013
Post Count: 4
September 1, 2013 - 8:10 am
Does anyone know if you can have a commercial lease out a residential home/property? I'm not sure of the zoning rules? e.g. when the house is in a residential zone, not a business zone….
Terryw
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@terryw
Join Date: 2001
Post Count: 16,213
September 1, 2013 - 9:00 am
Yes. But watch out if the RTA applies
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
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kinderyum
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@kinderyum
Join Date: 2013
Post Count: 4
September 1, 2013 - 9:24 pm
RTA?
kinderyum
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@kinderyum
Join Date: 2013
Post Count: 4
September 1, 2013 - 9:33 pm
How would the person leasing the property go claiming their expenses from the ATO, if the (residentially zoned) property is being used for business purposes?
Terryw
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@terryw
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September 1, 2013 - 11:21 pm
kinderyum wrote:
How would the person leasing the property go claiming their expenses from the ATO, if the (residentially zoned) property is being used for business purposes?
Normal situation applies. If the expense of rent relates to their making of income it could still be deductible.
Residential Tenancy Act
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
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Scott No Mates
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Join Date: 2005
Post Count: 3,856
September 2, 2013 - 11:31 pm
If the user is going to be a business use (not residential usage), then you would generally be much better served with a commercial lease agreement rather than a residential tenancy agreement. The RTA lease is set up for home occupancy not for commercial use and so may not suit the purpose you seek.
Rob G.
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@rob-g.
Join Date: 2010
Post Count: 70
September 22, 2013 - 7:35 am
GST ?
Loss of six year absence main residence CGT exemption.
Sigh …
thecrest
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@thecrest
Join Date: 2004
Post Count: 992
January 17, 2014 - 2:00 pm
Check what use of the property is permitted under the zoning. How long a lease are you after ?
Cheers
thecrest
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BoughtWithEquity
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@boughtwithequity
Join Date: 2013
Post Count: 68
January 25, 2014 - 12:04 am
Do you Aussies have a federally mandated lease or lease form? Is that what RTA is?
thecrest
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@thecrest
Join Date: 2004
Post Count: 992
January 25, 2014 - 12:24 am
(RTA) Residential Tenancies Act is State legislation which governs residential tenancy matters in NSW, not commercial tenancy matters.
http://www.legislation.nsw.gov.au/maintop/view/inforce/act+42+2010+cd+0+N
It's enforceable and is a guide to how landlords, tenants and Real Estate Agents should conduct themselves. Hmmm. lol.
Cheers
thecrest
thecrest | Tony Neale - Statewide Motel Brokers
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