Bump.

So I have decided to pull the pin and sell my ‘now’ cash-flow positive property (yep, you may shake your head).

There is a lease on the property until October 2016. Can I evict the tenant prior to this or at least let them know my intentions and give them the option to move if they can find another property before the lease expires?

Cheers,

The property would suit either first home buyers or investors due to good rent return. I am leaning towards keeping the tenant on, however in doing so the advertising photos wouldn’t do the house justice.

It is in Mt Barker. Close to the town centre, schools, etc.

However I am looking at a PPOR in Bridgewater.

I have a I/P in the Adelaide Hills (30mins from the CBD) in a fast growing area.
Yearly rent = $16,900. Estimated value = $305,000 – $310,000 so getting good rental yield.
A number of properties around it are been bulldozed & 2 houses put on the blocks.

Not sure if I should hang on or get out and use the funds for a new PPOR.

If the INVESTMENT loan is in both names, but you solely own the property & then the total interest on the investment loan will be tax deductible providing the value of the loan on the finance restructure has not increased. example:

Prior to restructure: Investment Loan Value = $100,000
After restructure: Investment Loan Value – $150,000
Only 2/3…[Read more]

If the INVESTMENT loan is in both names, but you solely own the property & then the total interest on the investment loan will be tax deductible providing: the value of the loan on the finance restructure has not increased. example:

Prior to restructure: Investment Loan Value = $100,000
After restructure: Investment Loan Value – $150,000
Only 2/3…[Read more]

It has been an investment property then PPOR and now back to investment. Looking at 1 year, as my remaining fixed loans come due next year at that point, I will consider selling or moving all to interest only. Just want to the option so I can divert cash flows else where if I want (or will continue to pay down the principal). I also have an offset…[Read more]

Personally I pay a small additional amount each month off my loan, mainly so that when interest rates rise again it won’t change my repayments.

I’d suggest using an offset account for your spare cash, that way it’s still available to use and will reduce the interest on your PPOR loan. I don’t like the idea of re-drawing on 1 loan to purchases…[Read more]

Cheers for the replies.

Having a PM won’t change the pet factor. I personally know people who rent through agents that have multiple pets that the agent doesn’t know about.

All I can do is see what the place looks like upon inspection. Currently they are paying rent so that is a bonus.

I currently rent a place with a pool. Prior to us moving in, the pool had to be drained and professional cleaned due to lack of maintenance while it was vacant. I’m sure the L/Lord is regretting the pool now, as it was a costly exercise.

I think it would depend on the area you are in. I was quoted the following in SA
– 2 x Weeks rent for signing up a tenant + 1 week if they tenant signed a lease extension
– Advertising at cost
– 10% of weekly rent as on going commission

I’m sure if you get a few quotes you could haggle with them.

Yep you will need to get a valuation to determine the value at the time it is turned into a investment, this will form your cost base for CGT purposes when you sell. Encourage the valuer to value it on the high side rather than low. You can do the valuation at a later date though.

Said neighbour is actually my brother. Her previously landlord said she had no issues in 7 years with her & always kept the place tidy & paid rent on time.

It’s more the animals inside I’m worried about.

My property has a water tank on it, plumbed only to the laundry. I provided a garden hose for the tenant, and advised that I just let this run on to the lawn to water it (it’s all I did when I lived in the property and it worked fine).

I thought about investing in the Northern Suburbs, put holding off due to the upcoming closure of Holden. Not sure of the impact it will have on housing up there.

Currently I have 1 rental in Mt Barker. Purchased for $270,000 in 2010. After doing a 10K of renos (carport & pergola) it’s now producing $325 p/w, a yield of 6% on my investment. I’d…[Read more]

Mortgage discharge fees you can claim against the rental property. As per the ATO.

https://www.ato.gov.au/Individuals/Tax-return/2013/In-detail/Publications/Rental-properties-2012-13/?page=9

Cheers,