New Adelaide real estate agent Matt Bowers says he will be opening a ‘new and unique’ business in his home town.
Matt Bowers is the owner of the Bowers House Agency, which specializes in residential properties in the state’s north.
The business, which has been open since last December, is expected to have more than 100 employees and is expected at least two more properties in South Australia this year.
Bowers said the new business, called The Bowers Group, will offer people a new option to be a landlord.
“We are looking to provide a lot more options to people that would be unable to own their own home,” he said.
Mr Bowers said while his agency could not predict exactly when his new business would be operational, he believed the move to Adelaide would allow the state to have a ‘more robust and well-resourced’ housing supply.
However, he admitted he had a hard time getting the word out to potential tenants.
I can’t tell you exactly when this will be operational but it is certainly on my radar, Mr Bowers.
“[But] I don’t think I will have any real surprises in terms of who is coming into the business,” he added.
He said he had been told he would need to find “a very large number” of new tenants.
“We’ll be looking for someone who’s experienced in a real estate market and has the financial ability to pay for it,” he told 7.30.
AAP: “We’re trying to be the go-to-home-to business in South Australian.
We’re also going to have access to a very large network of people that we’ve recruited and are now going to be able to reach.”
Mr Brains business will focus on residential properties.
After launching The Benders Agency in 2016, Mr Brains told News Corp he had planned to expand his business.
But, with the economy improving and housing costs expected to continue rising, he said the prospect of moving to a new home was no longer an option.
There is a lot of work to do, he told the news outlet.
In February, the South Australian Government introduced a new residential tenancy laws that allowed property owners to lease their homes to tenants.
The laws also extended the time period landlords could keep renting their properties from 30 days to two years.
Under the new rules, landlords are required to give tenants a full refund of their rent in any rental period.
For the first six months, tenants will only be able move into a property if they are “on-hold” to be in the rental.
If a tenant moves out before the six-month period expires, the property owner can reclaim their rent.
New Adelaide’s new rental laws came into effect on March 8, 2019.
This is the first year the legislation has been rolled out nationwide.
When asked if the new laws had caused an increase in rental vacancy, Mr Brittains answer was a resounding yes.
It is a great sign that South Australia has a lot to offer to the world, he continued.
South Australia’s new rules will allow landlords to stay in a property for the first 18 months of a tenant’s tenancy, allowing them to rent out the property until they have been out of the rental for 30 days.
Once the landlord has been out for a maximum of 90 days, the tenant can apply to have the property rented back.
They will have a 30-day window to apply for a rental extension.
Property developers have long argued that tenants are not the main reason they move into property.
Proponents of the new legislation have argued it will increase the supply of homes for people in need.
At the same time, the laws are expected to result in more affordable housing for people, as people who can afford to pay the rent can move into the property.