50% of the rent roll sales I have overseen this past 6 months have seen varied “new terms” that historically I have not seen. What are these new terms?
The terms I am referring to relate to smoke alarm compliance and insulation predominately. The contracts being entered into have been varied and in each instance has been dramatically different where expectations levels have been. The variance range has seen some buyers requiring absolutely nothing during due diligence and at settlement all the way through to requiring varied lists documenting or confirming what action has taken place and what is outstanding. These 2 items themselves differ in as much that legislation has come to pass (smoke alarms) whilst the other (insulation) has legislation that is in place with a deadline date being July 2019.