Own a Rental Property in QLD? Have You Updated Your Smoke Alarms?

Smoke alarms save lives – there are no ifs, buts or maybes about it, and since July 1^st, 1997, they have been a mandatory requirement in Australian residential buildings (and extensions).

Flashforward to now and Queensland landlords must abide by new changes to this law.

These changes, effective from 1^st of January 2022, will see all landlords having to install interconnected smoke alarms in their residential rental properties.

Essentially, when one goes off, they all go off – giving everyone precious time to escape a fire.

Find out what you need to know as a landlord of rental properties about smoke alarms, with the investment property accounting team at Crest Accountants.

What the Queensland Fire and Emergency Services have announced

In the middle of 2021, the Queensland Fire and Emergency Services encouraged landlords to update their smoke alarms, sooner rather than later.

All other dwellings must make a full transition to meet compliance by 2027.

Outlining the changes for landlords, rental properties and smoke alarms:

• From the 1^st of January 2022, at the commencement of a new lease, lease renewal, or when a property is being sold, landlords must ensure that the dwelling meets the new requirements of the domestic smoke alarm legislation.
• What does this mean? All smoke alarms must be interconnected photoelectric, installed into the bedrooms, hallways, and on each story of a property. The alarms must be less than 10 years old, not contain an ionisation sensor, and must operate when tested.
• What should you buy and organise to install? Smoke alarms complying with the Standard AS 3786-2014. They must be hardwired or powered with non-removable 10 year batteries. If any smoke alarms are to be replaced, hardwired must be replaced by hardwired.
• Where should they be placed within rental properties? On the ceiling, at least 300mm from the corner of a ceiling and wall, at least 300mm away from light fittings, at least 400mm away from an air-conditioning vent and likewise the blades of a ceiling fan.

If in doubt, consult your property manager or a trusted electrician. The Queensland Fire and Emergency Services website have straightforward resources, legislation changes and updates for you to refer to, as well.

Keep your investment, but most importantly the lives of your tenants safe by adhering to the new changes to smoke alarms regulations.

Accounting for rental properties, simplified

At Crest Accountants, we understand that owning and investing in a rental property can be sometimes risky, but also rewarding.

We can help you make the most out of your rental property – by educating you on your obligations, how to remain compliant and most importantly, maximise your return on investment.

What can you expect from our expert investment property accounting services?

• Guidance on tax minimisation, by ensuring all tax deductible expenses are accounted for
• Review your depreciation claims & building cost write off
• Expert advice on ownership structure
• Investment forecasts – giving you insight into how you are tracking into the future

So many landlords who own residential or commercial rental properties already utilise our high-quality services. See for yourself how we can seamlessly deliver the investment property accounting you need to succeed in your venture.

Need expert assistance with property investment accounting?

Contact Crest Accountants today for streamlined services, tailored personally to effectively manage your obligations when it comes to rental properties.

Disclaimer: The information contained in this news post is general in nature and is intended to provide a general summary only and should not be relied on as a substitute for professional advice.