This just doesn't seem right, firstly that the rent increase was given during a lease period, secondly that it was 30% that seem's a lot and lastly that when you pointed her to the RTA she issues a notice to vacate.
Just wondering if anyone knows much about this section 263 "notice to vacate for no specified reason"? I find it interesting that they have all these reasons in the Act that you can issue a notice to vacate but then have a section where you can issue one without a reason. Anyone know of this being used?
I recently had a depreciation report done for a property which we bought in Launceston by Washington Brown. As we had just bought the place we had nothing to provide them with in regard to receipts or dates of purchase of items. 3 or 4 weeks later we recieved a comprehensive 14 page document with 11 or 12 depreciating items(which I thought was good for a basic 3 Bedroom) containing a schedule for both diminishing value and prime cost as well as a year end summaries.
Was very detailed and they are national so would be able to do Latrobe Valley as well. At the time I was overseas and when I returned I done my tax and had a question, I contacted them and they responded within a couple of hours
My view is if you find a good tenant then look after them with rent as it is very difficult to find good tenants these days, that pay thier rent on time consistently, not trashing the place, not having massive parties.
One tenant I have has been in the property for 5 years has not missed a rental payment, rarely calls me for anything I have to call her every now and again to see that all is OK. So in turn I have only raised the rent twice in that time(mainly due to the wife's insistence during interest rate rises) it was originally $160 p/week and now is $188 p/week so an increase of 17% over 5 years.
Yes I possibly am losing in rent and I know the rent is under market value at the moment but I believe I am gaining by not having to advertise, interview and suss out potential tennants and then build comfortablility you have with a long term tenant(ability to pay rent and on time, no trashing or parties)
Yep its looking more and more likely that they will rise before the end of the year. We have had it pretty good for the past 12 months or so with the last rise I think in July last year. Not everyone is able to but one thing I tried to do(knowing they would come back up eventually) is keep my repayments the same each time the rates went down. Which means I am now paying $400 extra a month on my home loan but also when rates come up again there will be no need to increase my repayments till they reach over 8%(which hopefully won't happen anytime soon )
Hi Jimmy Just re-iterating what Richard has suggested, not exactly sure where Kingaroy is(Google says in Qld ) but I recently used Washington Brown for a IP in Launceston and was very happy with the depreciation schedule they created.