b.free2live wrote:
Have a system whereby they are checking that the trades people have completed their work.  Alot of them rely on the tenant calling them to advise that the trades person didn't turn up or the owner calling a couple of months after being advised of the repair and not receiving any bill.

That's a really good one, we've spent…[Read more]

You can absolutely get an agent involved to lease the property. We've done this at our office and we still put as much effort in leasing as we would if we were to manage the property – because the way I see it one day that owner may go overseas or decide to go with an agent so why would we give them bad service? Also this business is based on…[Read more]

I'm not a huge fan of OTP purchases in the suburbs unless you get a discounted deal which many developers are now offering (feel sorry for people who bought at full price).First of all, look at the suburb. Luxury apartments in Sunshine? Doesn't match the demographic.OTP isn't all bad as there are some great depreciaiton incentives, but you need to…[Read more]

If you manage the property yourself you may have trouble with some insurers. Also look out for terms in the policy that do not cover you if the tenants are not on a fixed term lease. Your property manager should have an insurance company that they have had good experience dealing with. Personally, I've always found Terri Scheer Landlords Insurance…[Read more]

We work in and around Melbourne with fees as follows:Commission: Up to 2.5% plus GST of the selling price – this figure is negotiable based on the estimated selling price and we always discount for current clients, i.e. if you bring the management of your investment property over for the purpose of selling which can make the process smoother and…[Read more]

Which state are you in?

You can hire an independent buyer's agent.

Sounds like you're on the right track to find what's suitable for your situation. If you do your sums and the selling costs won't eat too much out of your profits and puts you in a better position, go for it. You could continue to try to lease the property on say a 6 month lease (or offer negotiable lease term) whilst marketing for sale to have…[Read more]

Matthew_W wrote:

NHG wrote:
First property, I felt I was being rude offering such a 'low' price. My dad who always has an opinion told me off for not negotionating hard enough.Fast forward 6 months, purchased property number 2. This time dad was uncomfortable as I was putting in 'low ball' offers. I stuck to what I felt was the right price for…[Read more]

Price dropping is the one thing most investors struggle with. Yes, the last tenant was paying more previously, but what is the rental market doing now? How many tenants are making it to open inspections? Are properties leasing quickly in the area or is the market slow? If there is a lot of stock and yours is the second cheapest anyway… how long…[Read more]

The closest I've got to Hampton is Brighton, which has had a slight downturn in demand for lower-end rentals. Anything within walking distance from the shore is generally popular, however the commute to the CBD via road has seen Prahran take over in popularity, recently leased a property in Prahran with a majority of prospective tenants looking to…[Read more]

Thanks for the reply Richard, I understand it's a long shot with it being so close to the date.Are your presentation nights fully booked as yet? if not, would you mind emailing me the details?

Great question! Please do reply to this post everyone, would love to hear more.I always ask what a client expects from me (it just fits in with my tailoring program) and tend to get mixed responses… some owners want an update once a fortnight, some don't want to be contacted unless it's major, others I go for a coffee with once a month – every…[Read more]

Vacancy rates in Melbourne at the moment aren't ideal, however there are a few pockets that seem to be protected from the ups and downs of the market. Look for suburbs with a good culture of cafes, restaurants, bars, shops and easy access to the CBD through public transport and via roads. Statistics and data don't always reflect true demand – the…[Read more]

Land tax is a huge pain… but as it stands the guidelines for you in Victoria would be:If you lease out your PPOR for a continuous period 6 months or more it becomes eligible to be assessed for land tax if it has a taxable value of $250,000 or more.Emma, the State Revenue Office has a scale for rates if you're…[Read more]

Like everything, when researching you can find yourself with information overload – so many contradictory theories and you end up not knowing where to start! I'm experiencing this at the moment on another topic so I know how you feel.Agree with the above, grab onto a recommended system and stick to it. You've obviously done a lot of research so…[Read more]

Hi Keiko,Unfortunately this is one for you, not the tenant. Do they usually pay water usage or have you included it in the rental? If they usually pay usage, make sure you calculate their portion of usage and forward that charge to them before paying the bill.I would calculate usage like this:Last bill total  /  number of days in month = daily u…[Read more]

They made a small error on our account (not worthy of a drama but you've got to take every opportunity) so between myself and our director we've negotiated 6000 unaddressed mail pieces to be delivered for free – thousands of dollars worth of postage for simply asking the question.

Certainly not Carlton, Victoria… or I would have bought something there. Good one!

Dubstep wrote:
I also found out that women know where all the jewellery stores are, I mean they really know where all the jewellery stores are.

Absolutely!!!