Forum Replies Created
Check Excess- per event
Scope of Cover
EBM provide a specific tenent damage/ rent default cover but this does not cover the building against Fire and Perils.
This was how i saw it ie you need 2 policies.
Distinction between normal wear and tear and malicious damage is crucial when claiming.I had one rent appraisal before lease expired. The VALUER raised it by $5pw. I felt this was questionable but when i tried to rent it privately found it was fair. The new carpets and paint only got $5 more and it was vacant for 4 weeks.
I suspect the valuer- their repport is available- take the average of 3 like properties.
This is in a regional town.to clarify the post-
Block comprises 8 2b/r strataed units which are conrolled by one owner.
He wants to sell all but i propose to buy 4 now and hold and option to buy 4 later at a specified price later in say 12 months- to ease financial cost or spread it.
My query i s how would you word the option- i dont intend to assign it but like to allow time to asssess eg how the block runs, tenants inherited. plus could get purchased units revalued.
Also can a Body Corporate of 2 exist ie is it a quorum, what if we dont agree etc
Sorry for being unclear in previous post.i am interested in Albury – wodonga- how do ijoin
Thanks for the help. Council said similar re driveway and requirement to have minimum of 450m2 around the house.
Have owned a unit with unequal unit entitlements and found it was a bit unwieldy as the owner of largest unit was not paying at all.
This is much appreciated.Regards
DanHi
Cost of reinstatement will vary due to location and market conditions etc eg Far NQ after cycllone wld be dearer. Also factor in improvements-eg fence, carport. Calculators are just a guide and best get a builder to estimate. Generally say $1000 per m2 for brick veneer. Landlords cover can include loss of rent as well
Remember, allow for removal of debris, etc ie all costs related to rebuilding after a totAL LOSS.i am an investor in a DHA proprty in regional NSW. bought it last year with only 9months left on lease`(dha have an option to renew for up to one year which they exercised)
-The difficulty in on-selling is good for the investor buying it
-16.5% management fee is fair if you factor in- say 3 weeks vacancy per year, rent paid on time etc
-Yields only average but rent is set by a qualified valuer each year (it cannot go down -recent development not for old purchasers)
-If you delve into it you are pleasantly surprised eg say you dont need/want perfectly good carpet replaced can take thje cash equivalent
Garden is attended to, thorough clean etc
I would cost this at say $10,000 -so buying near end of lease can suit. Plus property is a longterm investment so if it is locked up for a year does it matter
[biggrin]
