Hello jambv

If the property is only 2 years old and these are the first tenants than my questions are:-

Why does the ceiling in the kitchen need painting already.

Why is the front door handle broken.

Why is the bathroom door handle broken.

Why is the rangehood bracket broken.

Why did you need to replace some vertical blinds so soon.

If the oven clock wasn't ringing did you check the appliance warranty to see if you were still covered.

It seems to me that with such a new house than some of the things that you have fixing or that still need fixing could either be covered by warranties (builders or appliance) or the tenants have done more damage than would be called "normal wear and tear".

Naturally the PM has been happy for you to pay all the maintenance costs to date. No work for them to do. You need a more interested /  more competent PM. Check your contract. You certainly don't need these tenants out before you change PM's. The new PM can help you solve your problems with the tenants. They are just playing this one.

Also don't naively believe your PMs statement
 
Any damage to the property that is not considered wear and tear can then be repaired using the tenants bond.

While it is strictly speaking true what they have failed to mention is that the tenants will have to agree to this otherwise you ( or usually your PM) will have to go to a tribunal first and prove that the damages that you are wanting to have paid for out of the bond are in fact above normal wear and tear.

BTW I don't know the laws in Qld but in Vict. it's not necessary to sign a new lease to change the rent. I assume their original lease has expired. The PM just needs to send them a letter giving them 60 day notice of your intention to increase the rent. They can then either agree or move out.

Hope this helps
Elka
 

Hello Sitting on the fence

I found the article I remembered reading. It was in the August 2006 copy of API.

The contract is called a Binding Financial Agreement and has been available since 2000 according to the article. It also suggests that young couples starting out, in the absence of a crystal ball,  may find it advisable to include a clause that the agreement be reviewed in a few years time to see if it still reflects their wishes and needs.  

Hope this helps
Elka

Hello William

I have kept away from this useless discussion until now. However, I think yours is a constructive question so I am happy to answer.

1.    3 – 5 times a year over  4 IPs (over 2 PMs)

2.    That would be useful though once I find someone I trust I use them each time unless it's a big job/quote in which case I get more quotes just to reassure myself.

3. 
fair price                                                                    A must
urgency                                                                      A must
quality work                                                               A must
answers phone                                                        Desirable
trust                                                                             A must
service guarantee                                                     A must
reliability                                                                      A must
on time                                                                        Desirable
neat & tidy                                                                    Desirable
local tradesman                                                         Preferable
keeps in touch                                                            Desirable
gives free advice                                                        Desirable
easy to remember phone number                         Not important
has a website                                                             Not important
OTHER……………………………………..

Hope this is the sort of feedback you wanted
Cheers
Elka

Hello  25North

Sorry I don't have any answers for you but I do have a question.

Is the reason you want to have the new DT, which you set up in Australia presumably for property you intend to buy in Oz , as a beneficiary of the NZ trust is that then some of the income earned on your NZ property can be used to help pay off the loans within the OZ trust?

Actually I believe that whether your Oz DT can be a beneficiary of your NZ DT depends on your NZ trust deed and not the new Oz trust deed. Is this allowed in the deed?

Happy and prosperous New Year to all
Elka

Hello RG435

I have been renting one of my IPs to my sister and her husband for several years and claiming all the relevant deductions. If you rent at market rate you should have no problems with the ATO. 

Cheers
Elka 

Hello MrFairGo

You may be on the wrong forum for this sort of question.
Try the following forum. 

http://www.invested.com.au/

Maybe the members contributing to the following thread can at least point you in the right direction.

http://www.invested.com.au/3/borrowing-money-overseas-20810/

Good luck
Elka

Hello Richard

Any idea what LVR is likely to be possible?

Cheers
Elka

My first step would be to ring up the accountant and discuss it with him first.

Cheers
Elka