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I would also like to point out that a landlord and tenant both have the same right to a fair hearing and that really a tenant should only be placed on a database once correct legislated steps have been taken. There is nothing stopping a tenant taking a landlord to each states respective small debt body or appearing when a landlord/agent takes the tenant to body in question.
Aero,
I wish you the best of luck with that website and hope you have a very good lawyer who works cheaper for you as you are going to need it.Hi,
The options you point out are all reasonable, the weekly rent increase would depend on where the property is located and what the current rent is, remember just putting aircon is not in some cases a market driven reason to increase the rent (i.e is it a standard feature in the area and how does it reflect to your current rent).
With regards to increasing the rent during a tenancy, strictly speaking you need to give 60 days notice (in writing) and then the tenant has the right to say no, or unless there is a rent review clause in the tenancy (a most in todays market) which can only be agreed upon amount once again by both parties or the right to end the tenancy at no loss or fault to both parties subject to normal ending of lease requirements (i.e leaving the property in good order that sort of thing).
Remember by putting aircon in to the property the tenant will incur a increase in power and you will also need to review your landlords insurance to make sure you are covered for motor burn out (fusion section) in the event they run it 24/7 during summer.
You may wish to look at a deal of an extra $20 per week until the unit is paid off then return the rent to the fixed rate before the unit went in. This can be done via a payment arrangement with the tenant.
Hope this helps.This is an easy one. The tenant under the act must in writing via letter then a breach notice inform you of any issues they have. Pest are in fact your problem and you should the property treated every 12 months or so I think is the normal. However if the tenant under their one steam does work then they do so unless in writing between yourself and the tenant at their (the tenant) own cost. What you need to do is get yourself a proper PM ( I can provide you with a list should you need it) and then let them sort it out.
?????
Is the tenant with holding rent until you fix things or threatening to with hold, if so then this is in breach of the act as a tenant can at no time with hold rent unless the tribunal rules that until a situation is fixed no rent is to be paid
Hope this helps.
okay 1st thing 1st from technical point of view the agent/pm has a duty of care to both parties (landlord/tenant), 2nd thing is that almost every agent I deal with (over 3500) has a privacy agreement that they supply to tenants when they submit there application form (link is to a sample privacy statement for personal reference if you wish) which informs the tenant that they may be sharing the information with landlord and a tenancy reporting agency. In short you have the right to view the tenancy application form if you wish, same as you have the right to search the tenant on tenancy database (not a credit check report). Your agent is incorrect and really just wasting time.
Link to privacy statement (www.barclaymis.com.au/pdf/PrivacyPolicy.rtf) 1st page about 2nd last paragraph if memory serves me right
Interesting read this post is. My company specialises in this sort of situation. Couple of things I should point out one just cause there is a agent know involved does not mean that you can claim a bond or even charge rent for that matter. The party who placed the tenants in the property HAS the right do just this and agent can not know turn up on the door step and inform the tenant that they are now required to sign a lease, pay rent and hand over 4 weeks bond.
Sorry for not answering sooner. If you want feel free to give me a call and we can discuss in greater detail.
Just quickly,
1. when you purchase you need the building insurance correct
2. I would recommend that you look into a specific LL policy only form the point view that the combined ones are in some cases very limited compared to the full on LL policies available on the market.As to the question above from Daedalus about discount for multiple properties unfortunately no we do not.
Okay the 1st thing is your are after two different things investment properties should really have 2 types of insurance, building and landlords. Landlords will cover you for things such as tenant damage, rent, contents and that sort of thing. the building covers you for structural type aspects. There are a number of companies out there who offer Landlords insurance from the big 4 banks down to speciality companies such as mine.
hope this helps
Hi,
Well unfortunately you may have to treat this a learning experince. You have the bond still I'm assuming, but even if there is an administrator it would be safe to say that you would be at the bottom of the list. This is an unfortunate downside to property investing, check your LLI policy . The policy my firm provides would cover you in this even should you have a tribunal order. As to the moving out part you can only evict the tenant if you have an order saying so.Question – Did they go bankrupt owing rent or where they still in a positive rental situation when they where declared bankrupt.
If I can be of any other help let me know
Hello,
$160 does seem cheap for landlords insurance you should really check the policy to see what it covers. The policy that my company provides to landlords (depending on your state) starts at $255 and ends at $325. All the companies who specialise in landlords insurance are around these sorts of figures depending on your state.
You really need to have the policy for when the tenants move into the property.If you need any more help let me know.
Hi,
Send me a email and I'm happy to pass on my clients contact details.Hi,
I have a couple of clients that look after the greater Perth area, can I have a location so as to which one may suit you best.Milly,
6 months I have case worse than that trust me. You have only one option issue a notice to leave and then once they have ignored that (which they more than likely will) prepare documents for an emergency hearing (Small Claims Tribunal) and get yourself a Warrant of Possession. This is your one and only option. I have posted a few times on topics like this and the only rule to have is ZERO TOLERANCE. Rent is your cash flow and when its not paid you where the lose not the tenant until you make them accountable for there actions.
Drop me a line if you need some more help.Hi Peter,
16.5% holy s%^t that's a lot mind you not sure if that's normal for WA. I have a client who uses our services in Perth. I'm happy to pass his details on to you or yours to him. Send me an email.
Also who ever wrote that article is talking S$%t. I have clients all over Australia and some have sales and some don't its the quality of the property manager that counts, the two are run completely independent of each other from each other. Hope this helps.Hi,
there are number of resources available for this, however a Australian High Court ruling a couple of weeks back states that these services can not provide owners information (could give you the full details but that's about the long and the short of it). the main resource are rpdata, pds solution, you can go to council or the titles office.hope this helps
Hi Nadine,
Okay from the top;
1. Your building insurance will come with the option for a public (or legal) liability cover when you take it out.
2. Lessor protection and Landlords insurance are the same thing and range in price depending on what you are after. Couple of things to watch out for,
2.1 if you take the cover that is offered to you from your IP lender be sure to read the fine print a $60 policy is not the same as a $255 policy.
2.2 be sure to check your excess section, we have seen a number of cases and I speak with a lot of landlords who's insurance cover as charged them a excess for things such as each room. This can added trust me on that one.
3. Check your agents appointment to act as some receive a commission for offering insurance to landlords (i have nothing against this but we do not pay agents commission personal choice for or company)
4. Look around there are about 6 major players in landlords insurance, all major banks offer various policies. However there are specialist product providers (I can't name them with out naming myself and vis versa)We now have a product available to landlords it's $255.00 per year and is very comprehensive send me an email should you wish to know more. I should point out to that private landlords pay more than landlords who have the property managed by an agent.
Hope this helps
The really sad thing is that their (alp) 1st budget will still have all the good work from Peter and John still there. The 2nd one, well if they have any money left I'd be very surprised but like Peter said if they touch that future fund I'll personally stick my foot up the Wayne Swans butt.
You really have to ask the ? of the greater Australian population as do they really think that having faster broadband and a laptop is worth F7*(king up the country.
And just in case they (the greater Australian population) have not worked it out yet the reserve bank is independent so NO one can tell them what to do.To my fellow investors check your landlords insurance and if you don't have it then get some cause the fun is about to begin.
Hi Ptialv,
1. have a min of 3 agents look at the property and give you their advise on weekly rent.
2. check out realestate.com.au, domain.com.au and the local paper and compare for your self (this is a landlords most powerful tool today being able to really compare and not just take an agents word)
3. Go over with you agent what they are doing for you as your property manager
3.1 look at what they are charging for rent collection and management fee
.2 look at the postage and petties if your happy to have your statements sent via email in structure them that's how you want it sent (save you about $ 20 per year maybe more depending on the agent)
4. when it comes to the tenant selection ask them what database they use to search the tenants on
5. at the end of the day a agent can't protect you against every thing so take out Landlords insurance depending on where your property is the good ones are all less than $330 bucks per year.
6. 1/4 inspections ask them if they take photos
7. maintenance do they charge a premium for overseeing this, and are they in bed with a maintenance company (this can work for you and against you as trades people are hard to get and sometimes come with a premium).
8. marketing and let fees what do they charge
9. can you see a copy of there lease and add an special conditions you may have, pets, smoking that sort of thing
10. if you want them to pay things like rates, insurance make sure you add those to the appointment to act so there is no misunderstandings.hope this helps it is king of a rough overview, if your looking for agents send me a PM with your properties location and I'll give you some of my clients in that area.
Hi Shanshan,
You need to look at a couple of things, 1st the commission is broken down into two separate sections the 1st is the collection of rent the 2nd is the management fee. From there most offer free 1/4 inspection, some charge for this service (even though you are under the law allowed 4 per year and you can attend them if you so wish). Look at your postage and petties if you are happy to receive all information via email ask for that option (most agents have this ability). Look at your extra cost such as repairs and maintenance charges some agents charge a commission for arranging this also for the processing of your insurances, rates and so for.hope this helps
pipes form part of the 'common area' there for they are BC issue. Speak with you BC manager not the on site manager to resolve this matter.
