Probably don't want to charge too low, but also don't want to charge too high .
Need to find some middle ground
Ballarat Share Accommodation are charging $190-$250 per week for each room, and it looks like they are in fairly high demand, so I'm thinking maybe $150 per week.
Just have a few questions:
Would it be OK for me to use the 'House Rules' listed on their website and modify them to my needs, or would I be violating copyright laws?
This is my first time doing this, and its a good learning experience for me.
My neighbour came in to help me setup some bedroom furniture today and she was quite impressed, and thought charging $135 per week and including all utility bills, internet, appliances, utensils and furniture seemed a bit cheap and when I delve on it I think she might have a good point.
Weekly rent is $320, bills are about $60 per week, and spending for shared items in the house such as fridge, washing machine, microwave, furniture etc is roughly $4,000 – What would you recommend charging?
Couches were bought from colleague's garage sale, but I'm still undecided about whether to replace them with black leather couch, or whether reupholstering them might a more cost effective solution or to just leave alone
I dropped by the council today on my way from Target and I was told that I did not need council permission unless the room had more than 4 people (not sure if I heard this correctly or whether they meant house) but either this shouldn't be an issue since there will only be 3 people living at the property – maybe I should try to get this in writing like you mentioned
What do you think about my amateur attempt to stage the kitchen?
I was under the impression that once a valuation has been done it is very difficult to dispute it, and you would need to wait at least 6 months before you can revalue your property again
The last 2 weeks has been quite an interesting experience for me.
What I have learnt is that agreements should be made on paper, rather than made verbally, so that there is no misunderstanding from either side, and there is something to refer back to in an event of a dispute.
Interest rates are quite low in comparison to what they have been historically, and the Reserve Bank of Australia still has a lot of room to slash interest rates depending on how things unfold economically.
As Jamie and Shahin mentioned, whether you should fix interest rates or not will depend on your property strategy, personal circumstances and whether you think interest rates are likely to increase or decrease.
In my view it appears that interest rates are trending downwards, and I wouldn't lock in more than 50% until that downtrend shows signs of reversing.
Maybe start with your end goal and then work backwards
E.g. if you want $50,000 in passive income, and can 8% yielding assets, you would need $625,000 by the date you want to retire whether that be 10, 20, 30, 40 years from now
You can then determine what strategy would suit you best based on your circumstances and preferences