Forum Replies Created
Hi Northy,
How long has the agent had the property and where is it?
Hi Opee,
Recommend you re-read the property management agreement you had with this company. Their fees and charges will/should be detailed in that.
Some agents typically try and charge two weeks rent when there is a change of tenant. Did your tenants move out?
Many agents will try on re-lease fee if the same tenants remain in situ but on a new lease.
Hi Pro,
What I have to say may sound a little harsh – but what have you done about this.
In your original post you said the PM was going to speak to the boss – two months have since elapsed and no action. Did you follow up? Some of the blame for the delay/s appears to rest at your feet too – after all you, also, have repsonsibilities.
You need to get this resolved asap – I suspect the tenants would have a case against you for 'sub standard' property. Most people would expect window treatments as basic necessity.
As Jamie said – speak to the Principal and follow-up with a letter.
REIQ is an avenue your could explore but they seem to side with the agents in most instances so you probably won't have much luck there.
Hi Joe,
Post #8 has a link to the Property Observer article which included an analysis of all state capitals. The information you are after is in the link.
Hi KG,
No need to be hasty – the decision you make will be around for a few years so don't be overly fussed to sign something ahead of time.
Don't forget there is something in between 'needing renovation' and 'brand new' – that is property around 5 yrs of age. After 5 yrs you will get a pretty good feel for how an estate/area will travel and how the neighbourhood is shaping up. On top of this, generally speaking something around 5 yrs old should still be in pretty good nick too so your maintenance costs etc are still reasonable.
Hi Tracy,
You will need to ask them questions. Key thing is to know a little yourself so you know which questions to ask and what is a reasonable answer. This is where your ability to detect misspeak will come into it's own and you will need to dig a little deeper than maybe would otherwise be the case.
I would be wary if the list of references is short or there are projects from long ago. Recency is a good thing – particularly if the project was in the local area you are looking at,
Some planning departments are 'interesting' .
Hi Tracy,
Get lists of previous projects he/she has managed & see if you can contact the owners of those projects for references.
Do a google search.
Hi Jer,
There are a number of BA in Perth. Some of the more reputable ones seem to be (in no particular order) Hegney's, Momentum & Property Wizards. I haven't used any of them so I cannot comment first hand on them or their BA services or costs.
Unit V House is one of the perennially debated questions surrounding property investing. There are those who can mount an equally good case for both. The best answer will revolve around your long term goals and what you are trying to achieve.
Fundamentally Perth seems to be making the right signals with current stock levels reportedly below long term averages and vacancy rates dropping. On top of this the forecast supply of englobo land over the next 10 years is well below requirements. Combine these factors and it tends to suggest there may be some brighter lights on the horizon for the Perth property market.
If you are looking in Perth then use the major transport arteries as a starting point. Pretty safe.
I don't know the stats but I bet my last dollar that almost all sales in Australia would be effected by a REA.
Real estate dot com seems to be the one used by the great majority of agents.
Better question to ask what your agent will do to sell your property. Make sure you have you listen carefully to see what they will bring to t he table.
Hi Jerome,
Thanks for the follow-up – further reading tells me 'affordability' as per the report is wholely and solely based on purchase prices. There is no consideration of rental yields in the research as they are looking at the properties as if they were purchased by owner occupiers.
Property Observer has a summary on the report in an article released today here
The PO article confirms some people's impressions / beliefs / research about house prices dropping more than untis the further you are from the city. Probably a key message for those who want a house but can only afford the outer city limits.
Thanks for clarifying that – geez, who would be an accountant?
I must admit I am not sure of the costs as that is something our development manager handles. But if it is any consolation we had to do something similar for some projects in Karratha.
These newer and somewhat surreal 'flooding' restrictions are being placed on developments by a few councils in WA (& probably Australia) as a follow on effect of the Brisbane floods where councils allowed developments in some areas below 100 yr flood mark.
As a result of newer properties being inundated some insurers have initiated legal action against some councils.
Have you tried a hydrological surveyor?
Hi Jerome,
Did the report define 'affordable"? Was it a dollar value? Comparison to rental income? or ???????
investhut wrote:am I trying to do it too soon.When to go (or go again) is not so much an issue of time moreso it is an issue of finance and from a financial perspective you look well placed to start your investment journey.
Before you make a leap make sure you spend some time trying to work out what you are trying to achieve as this will guide many of your property decisions.
All the best on your journey.
No worries – make sure you are extra diligent on this one.
4 years is very young to have problems of this nature.
I might add with 88 units in the complex your capacity to add value and outperform the other ones is very limited. In many respects your growth will impacted (negatively and/or positively) by all the other units in the same building and also those nearby.
Make sure your unit has something different; a view, large balconies, larger rooms, extra parking, etc
Derek wrote:If the property you inherited was someone else's PPOR you have 12 months to sell before you start incurring CGT pn the property, A valuer can determine the value of the property at the time you took ownership.
PS Should be 2 yrs
Terryw wrote:That changes things The cost base will be the market value at the date of death.Is that because property was bought pre-1985?
Not an accountant so seek expert advice,
If the property you inherited was someone else's PPOR you have 12 months to sell before you start incurring CGT pn the property, A valuer can determine the value of the property at the time you took ownership.
If the property was an investment property then you will be liable for CGT from date the property was first purchased by the original owners.
The ATO website will have documents explaining much of this. Recommend you do a search of their website.
Hi MrLV,
Don't know Sydney suburbs well enough to make a valid comparison to Sydney suburbs.
Link to Dianella statistics and profile for your information.
Light rail will have a positive effect on property prices in the vicinity of the rail route. About 8 years ago Michael Matusik did an analysis of properties in the same suburb to see which features had a more profound effect on property prices.
Rail was one of them – properties within 1km of a rail line outperformed the rest of the same suburb. My hazy memory said it was a signficant difference.
