Wrap expenses

Viewing 4 posts - 1 through 4 (of 4 total)

Nathan Houareau
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@the-general
Join Date: 2006
Post Count: 107
December 5, 2015 - 1:04 am
Hello everyone
When it comes to wraps who is supposed to pay for the council rates, the water rates and any wrap insurance?
Kind Regards
Nathan
Nathan Houareau
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Terryw
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@terryw
Join Date: 2001
Post Count: 16,213
December 5, 2015 - 3:10 pm
Nathan Houareau wrote:
Hello everyone
When it comes to wraps who is supposed to pay for the council rates, the water rates and any wrap insurance?
Kind Regards
Nathan
That is up to the parties to agree on. It would generally be the wrapee
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
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Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
David Siacci
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@david-siacci
Join Date: 2014
Post Count: 17
February 2, 2016 - 7:13 am
We charge the buyer a weekly premium equivalent to 1/52 of the annualised cost of Council rates, water rates, building insurance and any other statutory charges related to the property. If it is an apartment there will also be body corporate fees that need to be included in this amount. On some properties this is around $40 a week but on others it is up around $70 a week and I have seen higher.
David
http://www.siaccisystem.com.au
Nathan Houareau
Participant
@the-general
Join Date: 2006
Post Count: 107
July 19, 2016 - 9:57 am
Sorry for the late reply.
Thank you for your responses.
Nathan Houareau
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