what is tax depreciation?

11/12/2014

preparing to buy in 2015

08/01/2015

swimming pool compliance

11/12/2014

All properties with a swimming pool or spa pool being sold or leased on or after 29 April 2015 must have a valid certificate of compliance or relevant occupation certificate.

Selling a property

Before listing a property for sale, a valid certificate of registration and a valid certificate of compliance (or relevant occupation certificate issued within the last three years) must be annexed to the Contract for Sale and Purchase of Land if there is a swimming pool or spa pool present. Failure to do so may allow the purchaser to rescind the Contract within 14 days if exchanged after 29 April 2015, unless settlement has occurred.

Leasing a property

In the case of a property for lease with a pool, the pool must be registered and it must have a valid certificate of compliance (or occupation certificate issued within the last three years) at the time the Residential Tenancy Agreement is entered into and a copy of that certificate must be given to the tenant. Property managers should ensure the pool has a valid compliance certificate or occupation certificate and is registered before a new lease is entered into.

Strata and community title schemes

In the case of strata schemes, where there is a swimming pool or spa pool on common property, it is the Owners Corporation’s obligation to ensure there is a valid certificate of compliance or occupation. With respect to community title schemes, a community association is responsible for ensuring a certificate is obtained.

For more information on the swimming pool register, click here.

Information courtesy REINSW