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Very sad. I just purchased a holden cruze, australian made. Was one of the main reasons I purchased it.
I wonder what will now happen to bathurst. Holden vs Ford now neither are being produced in Australia.
Even if a tenant breaks lease they are still obligated to pay rent up and until the day a new tenant is found. To be removed from this agreement the tenant must apply to the courts to have the lease revoked, it needs to be agreed to between yourself/agent and the tenant.
If the lease is revoked by the court due to miss management. Then you will need to chase the managers for compensation.
Management fee is usually charge on the amount of rent that is received in that period. So the amount will vary but not the percentage.
E.G One fortnight you may receive $600 in rent and your commision is 8.25% then you will be charged $49.50
Then in the next fortnight period you may have received $1500.00 so 8.25% is $123.75 commission charged.
Don't forget the outside. Tricking up the front of house can add a lot of value.
Carports and landscaping.
As per catalyst.
You get onto your solicitor straight away and settlement gets delayed until its all sorted. It either gets fixed or you get a discount on the purchase price.
It is generally fairly rare. Although a lot of new owners tend to suck up on the little stuff. E.G pool cleaning stuff gone, shelving in the shed etc….
All of the above and some of the banks are really tough or lost the plot at the moment. Partner just purchased a property though the CBA. Had over $400,000 in equity. 1 mortgage fully paid, enough cash to pay off the second mortgage once it went off fixed. He was purchasing a property for $175,000 yet still had to get everything valued. This took them nearly a month to approve the mortgage. Date of unconditional had to be extended 4 times. He has been with this bank his entire life.
He certainly was NOT HAPPY JAN …..
Create a detailed plan. Most people lose money before they even start a renovation or building project because they don't have a details plan.
Some estimate that costs are
Bathroom – $9000 to $24,000
Kitchen – $11000 – $32000
Laundry – $4000 – $10000
Bedroom – $4000 – 9000
Absolutely Donna go for it.
Its a very common thing to do.
I agree with FMS, get the work done yourself, don't offer the seller the option to attend to it themselves. It may not be completed to your satisfaction.
Hard I know if you don't have someone on the ground who can take a look for you.
You could always post a job for someone to attend to the property and take a video for you, maybe the building and pest inspector will do if for you.
Best to speak to your accountant in regards to using a trust fund, they have a full picture of your finances and will best be able to advise. There are many different structures you can use.
They say Australias population will double by 2031 and that Melbourne will see the highest growth out of all the capital cities. food for thought.
I agree with Nigel, you will find something for the same sorts of money in major city centers, a lot more secure for you down the track.
So, So true. I knew a buyer who purchased a property $100k less than the asking price. They were the third and lowest offer on the property, and because the sellers were so sick of the whole thing they said OK.
Targeting these properties can be well worth your while.
If they don't accept your offer the first time. Let is sit for a bit, then offer again at an even lower price. Most people walk away after the first offer, trying again can be very rewarding.
There are always less buyers interested the longer a property sits because people automatically wonder what is wrong with it and avoid it.
Tenants tend to take advantage of owners. I think everyone has said it all. Go with a PM. Sounds like the attempt to save money in the beginning could end up costing you a lot in the end. Its a real shame they have turned a corner for the worse. A horrible position to be in.
Be very careful also of tenants helping you out such as putting in the kitchen. Its a huge risk. Not only could they do a dodgy job but if they hurt themselves in the process you could be up for liability for damages. They also tend to use it against you at the end of tenancy.
Good luck I hope you get it sorted quickly.
Hi Coota, be very watchful with what area you purchase from in Dubbo. Have you visited the area and taken a look? I had a friend live in Dubbo and moved due to the problems they were having there. Although it could be cleaned up now.
Both will add value if you are doing for a reason.
If you are building a high fence to make the yard private, with gate and second driveway, this would add value.
If you are building a big storage/car shed that can be accesses by car via the second driveway on the corner block yes this would be adding value.
If though you are building a lower fence that doesn't offer anything extra, or a shed with no access then no they won't add real value.
Dont forget to also look at other fees charged, some charge for lease renewals, routine inspections, court hearing, quotes, EOFY statements, etc
If it went to court she has set herself up with the hardship claim and most likely the courts will allow her out of the lease. You also probably don't want to go through the drama of the court process.
It sounds like she has done the right thing and left the property ready to re-let again. I think take her offer is all you can do, cut your losses and move on.
Landlord insurance from now on in though. LOL
Yeah its fine to clad over plaster. My oldies builder has just done that with white wash timber, and looks fantastic. I was thinking of doing the same myself in my laundry, as I have the same drama.
Areas around the Brisbane airport have been really moving forward, especially as many areas have easy access to the motorway, it makes shooting up to the sunshine coast or down to the Gold coast a pretty easy run. It is an area I would look into further.
