Forum Replies Created
- Jamie M wrote:It would be worthwhile having it valued or getting a market appraisal from a local real estate agent. This is done for CGT purposes. Basically, when selling the property, you only want to pay CGT for the portion of time it was an IP. By getting a valuation now, you'll be able to provide evidence to the ATO that the property was worth $x when it became an IP. Cheers Jamie
Can you just get a market appraisal from a Real Estate Agent? I thought it had to be a valuation from a valuer?
Thanks for that Terry, very informative.
Terry does ' paid down the loan' mean the same as 'amount paid in advance'? So if I have paid in advance on a IP and decide to buy a PPOR and use the paid in advance money towards the purchase of the PPOR I cannot claim the interest even though the loan is tied to the IP?
MrLasVegas wrote:Hi all. Does anyone live in Gladstone or know anyone who does? If so, do you know if the area was affected by the recent QLD flooding? And if so to what extent? Also if you could point me to any news articles about the floods in Gladstone (if it was flooded) that would be good. Thanks in advance.No, it wasn't really affected. Lost some of the beach at the boyne river entrance, flooding in the Boyne Valley (beyond Calliope) but that was just a few roads (I think) and Lake Awoonga was high and a couple of businesses there were affected. I think those businesses applied for flood relief and didn't get it as Gladstone was not considered a flood affect area. Our water catchment area is much smaller than Rocky or Bundy.
mattnz wrote:I am about to increase the rent on my place from $360 to $420 per week. Fortunately I have a corporate tenant and it is fully furnished with everything they could need. There are very few fully furnished properties in Gladstone and strong demand. If rents are going to eventually go sky high, then you need to keep up with the market. No point doing small increases once in a while, you will get left behind. If you want to sell at the peak of the boom, rental return will be a key driver of the value of the property. I have noticed that while alot of stock just came onto the rental market, they are ridiculous rentals like $600 per week for a 2 bed unit. They are no competition for the existing stock.Thank you for the responses. I think I will implement a $60.00 increase with maybe just a six month lease. There is really not much to rent in Gladstone and even less in Boyne Island/Tannum Sands. The $600 pw units are a new block right next to the railway line, I wonder if the windows are double glazed. It seems that Elders are the agents for many of them. There is also another 'executive block' ready near the yacht club. Be interesting to see what happens in the next couple of weeks with the Agents back at work.
