Lease

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<img src="https://www.urban.com.au/images/2017/09/05/Trustbond%20logo1%20small.png" alt="">
One of the main challenges in the landlord-tenant relationship comes from the asymmetry of information.
Rental history can be unreliable and limited. There is also minimal risk to a tenant’s reputation if they misbehave in a tenancy.
At the same time, Airbnb hosts accept guests with ease, and those guests most often leave the property in mint condition? Why is that, and how can it be replicated in the traditional long- term rental industry? 
Review systems like Airbnb serve two purposes. One focuses on the past, and one on the future. 
1. The past: Reviews help landlords select trustworthy guests, and filter out the bad guests. The references or reviews cannot be easily manipulated because they are transparent and have been explicitly written by other hosts in the past.
2. The future: The guests have a lot to lose if they don't behave well with the property. A bad review from the landlord could limit their ability to rent new homes in the future. 
<a href="https://trustbond.com.au/" target="_blank">Trustbond</a> is helping Australian landlords use reputation reviews from Airbnb, eBay, Uber, LinkedIn and many others to the complement tenancy applications. This gives landlords much more accurate information about the trustworthiness of the tenant and their previous behaviors.
A TrustScore is generated for the tenant to use now and in the future. This creates a fundamentally different incentive for tenants to behave well in the property, since bad behavior will affect their Trustbond TrustScore in the future.
For more information, watch the video below or go to <a href="https://trustbond.com.au/" target="_blank">Trustbond</a>.
<iframe src="https://www.youtube.com/embed/WlzfGI_7cJE?rel=0&amp;controls=0&amp;showinfo=0" frameborder="0" width="450" height="315"></iframe>
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Aussie landlords using ratings, reviews like Airbnb to verify tenants

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The first business signed the lease to their new purpose-built facility in Aura Business Park.
Situated at 1/22 Hancock Way, the 295 sqm property, was leased to local business Auramotive Mechanical Solutions, and they signed a tenancy term of 3 + 3 years.   The asset was marketed and leased by Ray White Commercial Northern Corridor Group’s Sales and Leasing Executive Jordan Hayes and Commercial Principal Michael Shadforth.   Mr Hayes said the tenant had such confidence in the future growth of Aura and the business it will bring, that he changed his trading name to Auramotive Mechanical Solutions, a year before the park even opened.   “The functional layout and ability to customise certain inclusions were the key factors that made this the building of choice for the lessee,” he said.
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“Activity is evident across the business park with eight buildings now under construction. “This is set to increase considerably with 25 of the 30 lots in stage one sold and over half of stage two’s 33 lots already under contract.” 
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First lease signed at Aura business park

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Melbourne City Mission, Melbourne Melbourne’s oldest charity organisation, has continued to expand, leasing a whole floor in the Victory Tower.
Fitzroys agents Stephen Land and Sam Friend negotiated the five-year lease with a three year option over 393 sqm on Level 10 of Victory Tower, at $175,000 per annum plus GST on behalf of a private Melbourne-based landlord.
Melbourne City Mission said they intend to sub-lease part of the floor to Youth Law, another not-for-profit group they are co-locating with.
The lease comes just weeks before Melbourne City Mission opens its new $8 million crisis accommodation and homeless support centre on King Street in the CBD, which will be Victoria’s largest.
Stephen land said, “The premises contained existing workstations and chairs, and a recent upgrade that included new carpet, paint and kitchenette made the office desirable to prospective tenants that were looking to occupy an office with minimal work involved."
“Landlords are benefiting from the race to secure sub-500 sqm tenancies across the Melbourne CBD, as operators across a range of industries increasingly look to secure a city address.” 
“These major developments have prompted a broadening range of tenant enquiry in this part of the city. Operators want to be among the enhanced lifestyle, food and beverage offerings in the area that have been spurred by the booming worker population,” Land concluded.
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Melbourne City Mission begin lease in Victory Tower

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Upgrades and Investment at 140 William Street has lead to a number new leases according to owner Rest.
Colliers International’s Shane Burns and Tony Landrigan, in conjunction with James Pappas and Hamish Sutherland of Knight Frank, have negotiated 11 new leases totalling more than 7,500sqm at 140 William Street. 
New tenants include Bank of Montreal, Law Institute of Victoria and Marble Group, among others. 
“An iconic Melbourne business destination, 140 William Street is constantly updating and evolving to ensure the building can best service tenant demand in the ever-changing Melbourne market,” Mr Burns said. 
“Progressive building owners and management consistently pre-empt workplace demands and trends to remain a commercial destination of choice, which has helped drive a highly successful leasing campaign, particularly in the past 12 months."
Over the last 24 months, superannuation owner Rest has invested in a lift and mechanical upgrade, the provision of end-of-trip facilities and new services.
Mr Pappas added, “The building has experienced great leasing success, including six refurbished whole floors – as well as securing a range of part floor tenants including Finite Group, Wonder Property, King and Whittle and NOPSEMA." 
“Further improving the buildings offering, 2018 also saw the execution of fitted part floors or small suites, responding to increasing market demand.” 
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Recent leasing deals have included: 
* Newcity Development (One) Pty Ltd: 251.5sqm on Level 25 on a five-year lease (+ 11 months) 
* Lysander Consulting Group: 259.2sqm on Level 14 on a six-year lease 
* Law Institute of Victoria 
* King &amp; Whittle Pty Ltd 
* Kidman Resources Ltd:315sqm on Level 30, on a 5-year lease 
* National Offshore Petroleum Safety &amp; Environmental Management Authority: 728sqm on Level 25, on a 6-year lease 
* Wonder Property: 300sqm on Level 37, on a 7-year lease 
* Marble Group: 430sqm on Level 37, on a 6-year lease 
* Bank of Montreal: 300sqm on Level 33, on a 5-year lease 
* Finite Group: 430sqm on Level 33, on a 5-year lease 
* Undisclosed tenant has taken 1,232,90qsm on Level 8 
Rents in the building range from $580/sqm in the low rise to around $700/sqm net in the high rise for a fully fitted, turn-key suite. 
“The accelerated demand we have experienced this year highlights the strength in sentiment among small business owners and reflects the lack of supply in this market,” Mr Burns said.
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140 William Street, Melbourne upgrade yields new tenants 

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Tenants and landlords in New South Wales are set to see a huge shake up of the state's rental laws, along the lines of laws already implemented by the Labor Government in Victoria.
The biggest change in the Residential Tenancies Act will put a cap on the timing of rental increases for periodic leases.
An increase will be limited to once a year.
There will be set fees for breaking a fixed term lease, however there will be no penalties for domestic violence victims who break the lease.
Currently tenants who break the lease must pay six weeks in the first half of a fixed term, or four weeks after the mid-way point of the lease.
Matt Kean, the Better Regulation Minister, called the changes common-sense.
“Under these common-sense changes, renting families will be able to make minor alterations, such as installing a picture hook to hang their family photos, and will benefit from a new set of minimum standards to ensure properties are in a liveable condition,” Mr Kean said.
“I believe we’ve struck the right balance with this reform, and I’m proud to be leading change that benefits the people of NSW.”
Since 2016 when the Census figures found one third of New South Wales residents were renters, the lobbying began to amend the Residential Tenancy Act.
Kean called the changes a "sweeping reform for tenants' rights."
 
 
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NSW Government rental laws set to favour tenants in major overhaul

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A scooter hire company have signed a two year lease in North Melbourne.
The 100 square metre, ground floor 60 Lothian Street property will house the company at $30,000 per annum net, with two further two year options.
It has an office suite with a secure lock-up garage and rear access.
The deal was brokered by Teska Carson’s Fergus Evans and Luke Bisset. 
“With its location less than three kilometres from Melbourne’s CBD this part of North Melbourne has become very much sought after with increasing interest from boutique office and retail tenants,” Evans said.
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Scooter hire company sign North Melbourne tenancy

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The rise of short-term letting and accommodation services like Airbnb and Stayz sees many property owners looking at ways they can earn extra income from their principal residence.
Di Jones Head of Investment Management Bridgette Barker said with increases in the cost of living any owner of a property can tap into these services to help with rising expenses. 
“While people are taking up the opportunity, less than 1 per cent of our rental roll has decided to put their homes onto the short-term market in the past 12 months,” she said. 
“Both of those apartments were located at Bondi Beach where huge money can be made in Spring and Summer. One owner was renting for $800 per week, but through a short-term rental site he was getting three times as much. 
“We also have some owners who are going to short-term rental of their property for six months while they head overseas and will then return it back to Di Jones to manage.” 
Ms Barker noted that there has been an increase demand in the past 12 months from people who have been burnt by the short-term rental market. 
“Major damage and noise which has upset neighbours has been a cause of concern for some owners utilising short-term rentals,” Ms Barker said. 
“They do have a place in real estate, but it is not for everyone. If you do decide to use Airbnb or Stayz, I believe you have to be heavily involved in the management of the property – and if you live nearby, you have more control over the management. 
“Owners should also be mindful of their insurance obligations and the legislation that relates to the type of accommodation they are entering into if they can’t get someone out,” she said. 
Ms Barker added that the recent changes to strata laws have opened an opportunity for those living in apartments to tap into short-term rentals. 
“Owners are revising their by-laws, which in many cases currently restrict rental leases to a minimum of three months. 
“There’s now a good opportunity for executive committees to change their by-laws to reflect the popularity of these sites. While many apartment owners may not be using the services at the moment, amending by-laws to allow short-term rentals means that they can set the tone for their apartment block in the future. 
“Airbnb and Stayz are not going away. Guidelines are now in place to protect both parties and it is important that owners, particularly of strata accommodation, are across their rights and responsibilities,” she said. 
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Short-term letting only suitable for some

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Art auction house Deutscher and Hackett are relocating from Sydney’s Oxford Street, their home for 10 years, to Paddington.
D+H will operate from 16 Goodhope Street from July 10, it said in an announcement.
Formerly the Sherman Galleries and operating as the Sherman Contemporary Art Foundation [SCAF] since 2008, 16 Goodhope Street is considered one of the most prestigious gallery spaces in Australia, it said.
The gallery has hosted major solo exhibitions by leading Australian artists, as well as large scale installations by international luminaries such as Ai Wei Wei.
D+H to move on and the perfect timing to move into Goodhope Street.   Dr Sherman is now changing SCAF into an event-based cultural enterprise, Sherman Centre for Culture &amp; Ideas [SCCI], which will partner with major institutions to hold projects, seminars and exhibitions. The gallery space at Goodhope street will now be occupied by D+H while the SCCI headquarters will remain in the adjoining property. 
With the final SCAF exhibition concluding at the end of June, the gallery space will also begin a new chapter in its history.
Deutscher and Hackett said their inaugural auction preview exhibition at Goodhope Street will be Important Australian Works of Art from the estate of the late James O. Fairfax AC from 24 – 30 August.
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Art auction house D+H relocating to gallery in Sydney's Paddington

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Ex-Middle Brighton Post Office site in Melbourne has been leased to sportswear giant Nike for around $200,000 per annnum.
Fitzroys agent Mark Talbot brokered the seven-year deal for the iconic property on the corner of Church and St Andrews Streets in Brighton.
The site was previously occupied by the failed Laura Ashley group.
Talbot said Fitzroys were appointed to re-lease the premises in a private expressions of interest campaign, following which three potential tenants were shortlisted. 
“Operators recognise Brighton’s demographics continues to support top-quality tenants,” said Talbot. 
 
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