Lewis O'Brien & Associates in Kew, Victoria | Lawyer & law firm

Lewis O'Brien & Associates

Locality: Kew, Victoria

Phone: +61 3 9888 6388

Address: Suite 113, 89 High Street 3101 Kew, VIC, Australia

Website: http://www.lewisobrien.com.au

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25.01.2022 The latest from our client newsletter: https://www.lewisobrien.com.au/client-update/the-d-word/

25.01.2022 The Corona Virus I want to reach out and share a few thoughts on the impacts of the corona virus. Firstly, Lewis OBrien and Associates will continue to be open for business during this time. We will be taking steps to minimise the risk of transmitting the virus which means minimising face to face meetings and allowing staff to work from home where practical. This will mean an increased reliance on email and video meetings (e.g. Skype). We also encourage you to leave voice... messages if your phone call diverts to our message service. It is difficult to understand the true extent of the danger presented by the corona virus. I dont think anyone can answer basic questions like how long someone is infectious prior to displaying symptoms or what the mortality rate for a healthy adult might be once you adjust for those who are frail or immune compromised. Is it just a really bad flu season or a threat to the lives of 150,000 Australians as claimed in the media this morning? Is flattening the curve a viable strategy or an unjustified slogan? Fear seems to be causing us to prepare for the worst. It is also difficult to foresee the medium to long term impact of the dislocation that is being imposed to minimise the transmission of the virus. However, sharp reductions in tourism and education (two of our top five export industries) are inevitable. The impact on casual employees and small (and large) businesses will be substantial. In the short to medium term this will impact the property market as well. What is clear is that the current lack of leadership in our community and the increasingly shrill tone of our media is increasing the level of overall panic and unnecessarily increasing the long term financial damage that is being caused. At an individual level, excessive hoarding and brawls over toilet paper and the like are also disappointing. I am hopeful that our politicians will step up to the plate and demonstrate some leadership - although the signs to date are disappointing. I am also hopeful that our media will choose to prioritise our overall welfare by publishing accurate and well credentialled information over inconsistent and alarmist short term headlines. For my part, Lewis OBrien and Associates will be taking sensible steps to reduce the risk of transmission. I hope that you and your family remain safe and well. However, we will also have one eye on the future a future which remains extremely bright in Australia!

24.01.2022 Hello! In an effort to create a positive out of the corona virus, I have created the first in a series of short videos that relate to the contracts that are common to the property development process. They are intended to identify key issues that will help you conduct property development, whether it is a small renovation or a large apartment development, more confidently and help you avoid common pitfalls. The first in the series is about Domestic Building Contracts in Vict...oria. This raises a number of issues / problems that I regularly encounter when a building contract goes wrong. Clearly, a five minute video is not comprehensive and not designed to replace professional advice, but I hope that it will make you aware of issues that will help ensure your next development is a success. I hope you enjoy the video!

24.01.2022 Whether you are a property developer or just renovating your home the Five Minute Guide to Building Contracts is essential viewing. Lewis OBrien, an experienced property lawyer, explains in simple terms the 5 most common mistakes that property owners make when they sign a domestic building contract. This knowledge you will help you avoid the most common issues owners have with their builders and put you in a much better position if you do have a dispute.... If you know someone about to sign a building contract share this link with them. https://www.youtube.com/watch

23.01.2022 The first of a three part series of articles regarding advanced commercial leasing issues. Today: fixtures and fittings. https://www.lewisobrien.com.au//commercial-property-advan/

23.01.2022 IF POLITICIANS WERE SERIOUS ABOUT HOUSING AFFORDABILITY. If politicians were truly serious about housing affordability, they would take action to: 1. Reduce Stamp Duty...Continue reading

23.01.2022 What happens to a home buyer when they cant settle on the contracted date? The obvious first point is that the home buyer should very carefully consider how long they will need to be in a position to settle before the contract is signed. The most common issue is finance not only finance approval but also how long the lender will take to complete the process from approval to settlement. Your finance broker should be able to provide clear guidance here. Other issues can... also emerge in relation to having the required equity funds available particularly when these funds are coming from the sale of another property. In my experience, settlement dates are easier to bring forward / make earlier. Getting the vendor to agree to a later settlement date is typically both harder and more expensive. My first suggestion, when in doubt, is to specify a later, conservative date and ask whether the vendor would be prepared to settle earlier if you are in a position to do so. If, despite your best efforts, things go wrong and you cant settle on the due date, there are a number of issues to be aware of. Generally, it is better to ask for an extension of time as early as possible to minimize the inconvenience and therefore aggravation to the vendor. The vendor is not obliged to agree but is more likely to when the market in the area is flat or falling. The vendor is entitled in general terms and subject to any special conditions in the contract, at any point after the settlement date, to: Allow you more time without any cost; Ask for default interest typically at 12-14% pa on the unpaid balance for the duration of the delay; and / or Issue a Default Notice (formerly a Rescission Notice) requiring you to settle within 14 days. In a worst case scenario, you can get a defacto 14 day extension on the settlement date. This will come at the cost of default interest and the legal fees that accompany the Default Notice. In some cases the vendor may also seek to recover other costs. If you do not settle within 14 days then the contract will be terminated, you will forfeit any deposit paid and you may be liable for further losses if the vendors losses exceed the deposit paid. If you are facing a potential default you should seek assistance as soon as possible. At Lewis OBrien & Associates we have been helping purchasers to manage these and other difficult situations for more than 20 years. Please contact us if we can help you.

23.01.2022 Heres part two of our series on Commercial Leasing issues, this time focused on rent. https://www.lewisobrien.com.au//commercial-property-advan/

22.01.2022 Once upon a time, we could expect better from the ABC.... I dont know too many developers making 77% profit margins. No mention of the fees and charges reaped by the three levels of government and their various authorities - and these figures dont seem to be included in the profit calculations.... The article assumes that builders warranty insurance cures everything. It would be better to ensure that the problems dont arise in the first place rather that assuming that insurance will fix it. Going forward we need to carefully analyse the causes and drivers of poor quality building so we can design a robust solution. Resorting to knee jerk solutions to patch the problems usually leads to the next round of problems. https://www.abc.net.au//the-high-rise-apartment-s/11431732

19.01.2022 As the severity of restrictions imposed to combat the corona virus increases, I want to reassure clients that Lewis OBrien & Associates will continue to provide advice and services to our clients to the maximum possible extent. Clearly face to face meetings are to be avoided. Our staff will increasingly work from home which will mean some minor disruptions. However, we can continue to effectively provide advice using a combination of telephone, email and video conferencing ... particularly as we have been scanning client files (including current files) into electronic format for many years. We can already complete verification of identity via video conference and I believe we will be able to provide solicitors certificates to mortgagees on the same basis shortly. We do not expect any disruption to scheduled settlements which are now electronic and therefore do not present any direct corona virus risk. In difficult times, I believe it is important to have the best possible legal advice. Lewis OBrien and Associates will continue to offer superior legal advice with a practical element as we have done for the more than 20 years albeit in a slightly different format. Over this time Lewis OBrien & Associates (and Australia generally) has survived the Asian financial crisis, the dot com bubble, the sub prime mortgage crisis, the European sovereign debt crisis, SARS and much more. Whilst the impact of the corona virus on Australia and its economic fallout will likely be more severe than any of these past events, I believe Australia is better placed than most countries to deal with this challenge and I look forward to the brighter days that await us in the future. In the meantime, stay safe and look after yourself and your family! Lewis OBrien

18.01.2022 I hope the author is wrong and the stimulus offsets some of the issues listed in the article. However, I have a lot of respect for the author and a horrible feeling that this is one of the best considered articles on this issue in the past two weeks.... https://www.news.com.au///73b9bb2b653ad2373f02b8e76f0d56ab

17.01.2022 Here is our latest Five Minute Legal Guide video and market update for you... https://www.lewisobrien.com.au//market-update-and-the-lat/

17.01.2022 From our latest newsletter: https://www.lewisobrien.com.au/property-gen/the-90-economy/

17.01.2022 I have had a number of queries about the impact of the corona virus and associated economic consequences on the property market. https://www.lewisobrien.com.au/pr/property-market-update-2/

16.01.2022 Heres an article from our newsletter regarding skyrocketing land tax in Victoria https://www.linkedin.com//urn:li:activity:6531782229079752

14.01.2022 Here we go again - the idea of abolishing stamp duty and replacing it with a broad based land tax. Not only does this article propose that your principal place of residence will be taxed, extra funds will be raised for infrastructure and we can also offer compensation to the less well off. Put another way, the proposal slugs hard working Australians who save and invest in real estate. It reminds me of Margaret Thatchers quote:... "The problem with socialism is that you eventually run out of other peoples money" https://www.domain.com.au//why-governments-should-abolish/

13.01.2022 Unlawful Subletting on Air BnB A recent New Zealand decision suggests that damages may be available to property owners whose tenants sublet the property on Air BnB in breach of their own lease with the property owner. In a 2018 decision, the New Zealand District Court ordered that the tenant pay all his Air BnB profits to the landlord as compensation for repeated and clear breaches of the tenants lease.... The focus in the decision was whether the landlord could claim damages if the tenant has made profits while subletting the premises through Air BnB in breach of their lease. Damages in the Australian context are usually limited to allow the claimant to recover the loss it has suffered, so that the claimant is compensated rather than the offender punished. In the case of unauthorised Air BnB letting the extent of the loss to the property owner may be minimal. In this case, damages were assessed by reference to the economic value of the right that had been breached considered as an asset i.e. in this case, the landlords right to prevent subletting. The Court held that the economic value was equal to the profits earned by the tenant from sub-letting. This is a new form of damages to Australian law there is no precedent for this in an Australian Court. For tenants, I think this case emphasises the importance of getting the landlords consent if you intend to sub-let on Air BnB. For property owners you may have the right to damages if you are prepared to expend the funds required to go to court and try to convince a court to extend Australian law to include this new concept of damages. Better yet, some other property owner may soon establish the precedent for all property owners.

12.01.2022 Its great to see others seeing positive indications to the economy, and to the benefits of positive thinking generally. http://www.switzer.com.au//everything-isnt-fcked-just-go/

12.01.2022 What are the 8 certainties during this difficult time? https://www.6pr.com.au//what-are-the-8-certainties-during/

12.01.2022 Upcoming Event - PROPERTY INVESTING in 2020 For the first time ever I will be running a seminar that I call Property Investing in 2020. ... For those that want to use property investment as a vehicle to achieve their goals this is an event not to be missed! I will draw on 20+ years experience acting for property investors to give you the inside information on the best property investment strategies for 2020. We will explore which strategies are working and which strategies are outdated in light of current and expected regulatory and market conditions. You can expect all the latest information on property options, joint ventures, renovations, vendor terms contracts, lease options private lending and much more. This is an informal session so you can expect me to be quite direct and there will be ample time for questions along the way and at the end. The session will be heavy on content and practical applications. If you dont take away a single good idea or insight I will happily refund your ticket you cant lose! You are welcome to invite a friend or relative that is interested in property investing or development. We will raffle a bottle of champagne to a newcomer at the end of the night. However, numbers will be limited and seats will be allocated on a first come first served basis. When: 6:00 pm on Wednesday, 11 September, 2019 Where: Canterbury International Hotel, 326 Canterbury Road, Forest Hill Cost: $20.00 plus GST per person (inc warm finger food) Sorry - I have no plans to record the event or repeat it this year. Please email Annette ([email protected]) from my office to reserve your seat and arrange payment. I look forward to seeing you there! Lewis OBrien

12.01.2022 Clients have enquired about adding a special condition to purchase contracts in light of Covid-19. We address this issue on our blog. https://www.lewisobrien.com.au//covid-19-special-conditio/

11.01.2022 SEMINAR 27 August, 2020 Don’t Get Ripped off by Your Builder! Tickets now available... Most of us have been involved in a domestic building contract that ended badly or know someone that has. The classic problem is that the builder is months late, there are problems with the work and yet the owner finds that they have to pay too much to the builder. For the property owner this can be expensive, stressful and potentially derail a promising future in property. However, it doesn’t have to be this way. Let us show you what goes wrong, why it goes wrong and what you can do to prevent it. This is a unique seminar hosted by Lewis O’Brien. Lewis has more than 20 years’ experience acting for property investors large and small and has helped thousands of property investors towards their goals. He will share his insights into why domestic building contracts are unfair and what property owners need to do to create a fair balance of rights and responsibilities. If you are thinking of signing a Victorian domestic building contract (or know someone that is), for a renovation, new home or unit development and want to avoid being taken for a ride you can’t afford to miss this seminar. In fact Lewis is offering a MONEY BACK GUARANTEE. If, after the seminar, you don’t believe that you have learnt enough to save you at least 5 times the ticket price on your next building contract, then let us know and we will refund the cost of your ticket. Numbers are limited so book now! Date: Thursday 27 August 2020 Time: 7:30 - 9:00 pm Cost: $47.00 Where: Online - live webinar GET YOUR TICKET TODAY: https://bit.ly/LOBUnfairContract

11.01.2022 Heres part 2 of our discussion on Commercial Property Advanced Lease Issues: In our last post, we looked at issues around fixtures and fittings. This time, lets explore issues around three versions of rent rent under the lease, market rent and potential rent. Where there are material differences between these figures there are large opportunities to make money or lose money on your investment.... To illustrate, let me share a simple case study based on a real life example. Sanjay purchased a two story commercial property for $500,000.00. This property was subject to a new five year lease for $30,000 pa which meant a 6% yield. This met Sanjays criteria and he signed the contract and settled the purchase. Five months later disaster struck. The tenant defaulted, abandoned the premises and there was no chance of recovering against the insolvent tenant. Worse still, Sanjay was advised that the market rent for the property was $25,000 meaning that at a 6% yield the property was now worth about $410-420,000. A more recent example involved a SME vendor who was selling a commercial property with a 10 year lease back to themselves. The lease had a high rent that suggested a value of approximately $1 million on a yield basis but a neighbouring, similar premises had recently sold for $800,000. This suggests that the vendor was inflating the capital value by inflating the rent. This is an interesting way to raise capital if you find a purchaser prepared to take the risk. The final example involves exploring potential rent. Lets adopt the figures from the first example ($500,000 purchase price, $30,000 rent, 6% yield). If we knew that the market rent was $5,000.00 higher we could expect higher than average capital gains as the rent catches up. If there was the potential to earn a further $5,000 higher rent from say signage, sidewalk seating, an ATM or utilizing surplus space then we could also expect to manufacture a higher rent and therefore better capital gains over time. The extra $10,000 in rent could add $150,000+ to the value of the property. The above simple examples also illustrate how sensitive capital values are to small changes in rents in a low interest rate environment. To succeed in commercial property you need to remain aware of the three rents lease, market and potential in order to maximise your gains from commercial property. See more

11.01.2022 What does the latest RBA decision on interest rates mean? https://www.lewisobrien.com.au//why-the-rba-might-be-wron/

10.01.2022 From our latest client newsletter, my thoughts on volatility and forecasting property prices. https://www.lewisobrien.com.au//property-prices-volatilit/

09.01.2022 There are only a few days left to secure one of the few remaining seats to our Property Investing in 2020 Seminar. If you plan to use property investment as a vehicle to achieve your goals, this seminar is not to be missed. We will identify the strategies that are making people the most money right now, including::... The pros and cons of using options in Victoria what you can and cant do and why; The modern incarnation of the real estate flip that beats stamp duty and financing issues; Private Lending; and Property Development. Tickets to this once-off event are just $20 plus GST. When: Wednesday 11 September 2019 Where: Canterbury International Hotel, 326 Canterbury Road, Forest Hill Time: 6pm 8pm Price: Just $20 (plus GST) per person, including light refreshments. If you dont want to miss this opportunity, email [email protected] before 4pm Monday 9 September to secure your seat.

07.01.2022 If youve been following our commercial leasing series, heres Part V. https://www.lewisobrien.com.au//commercial-leases-part-v-/

07.01.2022 Do you have questions about section 173 agreements? This recent article from our newsletter will help. https://www.lewisobrien.com.au//property-developers-secti/

06.01.2022 Housing slump? What housing slump? A number of commentators are increasingly optimistic about Melbourne property prices..... https://www.therealestateconversation.com.au//james-nihill

06.01.2022 It wasnt long ago that property prices were expected to fall this year and next. Now one leading expert expects a rise in property prices this year of up to 10%. Its a shame that most forecasts seem to be based on little more than projecting forward the last piece of data available.... https://www.news.com.au///889c8ef9f47102543bd70beb4a3e569d

06.01.2022 Got a question about property law? Our blog has articles you may find helpful on many property topics. Today were sharing a recent post regarding myths around nominating when purchasing property. https://www.lewisobrien.com.au//home-buyers-five-myths-ab/

05.01.2022 Already planning tax increases? After all, property stamp duty has been maxed out in Victoria... https://www.news.com.au///abdc4b1c4dfb0aeb3fab225bb850dea8

05.01.2022 SEMINAR 27 August, 2020 Dont Get Ripped off by Your Builder! Tickets now available... Most of us have been involved in a domestic building contract that ended badly or know someone that has. The classic problem is that the builder is months late, there are problems with the work and yet the owner finds that they have to pay too much to the builder. For the property owner this can be expensive, stressful and potentially derail a promising future in property. However, it doesnt have to be this way. Let us show you what goes wrong, why it goes wrong and what you can do to prevent it. This is a unique seminar hosted by Lewis OBrien. Lewis has more than 20 years experience acting for property investors large and small and has helped thousands of property investors towards their goals. He will share his insights into why domestic building contracts are unfair and what property owners need to do to create a fair balance of rights and responsibilities. If you are thinking of signing a Victorian domestic building contract (or know someone that is), for a renovation, new home or unit development and want to avoid being taken for a ride you cant afford to miss this seminar. In fact Lewis is offering a MONEY BACK GUARANTEE. If, after the seminar, you dont believe that you have learnt enough to save you at least 5 times the ticket price on your next building contract, then let us know and we will refund the cost of your ticket. Numbers are limited so book now! Date: Thursday 27 August 2020 Time: 7:30 - 9:00 pm Cost: $47.00 Where: Online - live webinar GET YOUR TICKET TODAY: https://bit.ly/LOBUnfairContract

03.01.2022 This is one of the more intelligent articles on the property market outlook that I have seen for some time.... https://www.realestate.com.au//what-will-australias-prope/

01.01.2022 The first of a two part series regarding leasing issues for commercial properties. https://www.lewisobrien.com.au//commercial-property-advan/

01.01.2022 We understand that legal expenses are not cheap. Have you considered the potential costs of not getting a quote for your next legal matter? https://bit.ly/LOBlegalexpense

01.01.2022 Our office will close at 5.00pm on Friday, 20 December, 2019. We will reopen at 9:00am on Monday 13 January, 2020. We wish you a joyous holiday season and a prosperous New Year.

01.01.2022 Our 2020 Creative Property Seminar series begins on 30 July 2020, with a 90 minute webinar on how to structure, do due diligence on and undertake mortgage assumption joint ventures. Book your ticket now!

01.01.2022 From our latest newsletter: https://www.lewisobrien.com.au/property-gene/indian-summer/