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Viewing 8 posts - 1 through 8 (of 8 total)
  • Profile photo of manicmanic
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    @manic
    Join Date: 2010
    Post Count: 10
    October 19, 2010 - 5:45 am

    I've had a chat to the tenant and they are OK to cut out the agent and sign a new lease. The good news is they are looking to stay at least until the end of next year. So far steps I think I need to take are:
    1. Obtained the standard Tenancy agreement from here:
    http://www.consumer.vic.gov.au/CA256902000FE154/Lookup/CAV_Forms_Residential_Tenancy/$file/TenancyAgreement.pdf

    2. Organise bond transfer with agent and send to RTBA

    3. Agree cutover date with agent

    4. Perform condition report

    5. Provide tenant with 'Renting a Home' booklet.

    Is there anything else you can think of that I've missed?

    Profile photo of manicmanic
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    @manic
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    October 18, 2010 - 1:09 am

    Wow….thanks for the time and effort put in to provide great responses all.

    I'm going to give it a go. It will save me up to $1,440 a year which is a fair whack and I have a decent network of tradespeople having lived in Melbourne my whole life. Plus I'm fairly hands on for small repairs myself. I have been making all the major decisions and responding to tenants questions myself anyway.

    I may go through an agent to source me a tenant however as they would have easier access to advertising tools, a list of potential tenants, background screening, etc.

    I'll check out that residential tenancy kit and read up on my/tenants rights.

    Thanks again all.

    Profile photo of manicmanic
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    @manic
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    October 12, 2010 - 4:45 am

    Bought a 3br apartment in Parkville for $600k in Feb 2008. Was also looking at 700+sqm blocks of land in Glenroy for about $550k. Glenroy would now be worth $750k but our apartment probably hasnt moved much at all :(

    Profile photo of manicmanic
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    @manic
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    October 12, 2010 - 4:18 am

    Good point. My agent did proactively suggest a price increase which actually made the last tenants vacate. We did however get new tenants at a higher rate almost immediately. I can always do my own research to counter that.

    When interest rates go up I can give them my sob story about having to pay more interest.

    Profile photo of manicmanic
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    @manic
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    October 11, 2010 - 10:15 pm

    Josh,

    Initial thoughts are that it is quite far out and capital growth wont be as good on that basis. I am not familiar with the suburb but are there any major improvements on the plans eg. transport, factories (employment), other? These factors would drive growth. It may be a while until the Craigeburn line gets extending that far.

    You also have to look at the demographic that would rent out there, presumably not people that would commute to Melbourne to work so maybe retirees or locals that work around there?

    Hope this helps.

    Profile photo of manicmanic
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    @manic
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    June 23, 2010 - 1:08 am

    Definitely sounds dodgy and it seems like you have them on the back foot.

    Upon review of my statements I inevitably find charges that are inaccurate or should have been handled by the agent, but NO ONE CARES ABOUT YOUR INVESTMENT AS MUCH AS YOU DO – accountants, real estate agents, tradespeople, anyone! Always do a check of what ends up in the bank and account for anything missing.

    In dealing with an agent that are remote I have also found that they are more likely to make decisions on your behalf and blame the distance. It's just one of those things you need to account for when having remote investments.
     
    Anyhoo, sounds like you are doing the right thing in dumping them. All the best.

    Profile photo of manicmanic
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    @manic
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    June 23, 2010 - 12:16 am

    I emailed the TafeSA and got a response from Peter Koulizos. The TAFE course is not run in Melbourne but he recommends this one run at Victoria University:  http://www.propertyplanning.com.au/views/courses/fundamental-course.html

    A contact is Angelo Piazzetta. His number is (02) 90172332 and email is [email protected].

    Has anyone taken this course and what is their feedback?

    Profile photo of manicmanic
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    @manic
    Join Date: 2010
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    June 22, 2010 - 12:38 am

    Hi,

    I am interested in taking this course, however, in Melbourne. Does anyone know if it is held in Melbourne and where?

    Alternatively, are there any other good property investing courses in Melbourne? Ones that don't have biased presenters!

    Cheers

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