You're right D, there are definitely circumstances where it would be appropriate to end a lease … I wouldn't want unhappy tenants and it seems my tenants don't want an unhappy landlord either! LOL.I've maintained an approachable friendly relationship with all my tenants. I like to be flexible … just in this case, I think I needed to make the…[Read more]

Hi all, thanks for your responses. I just thought I'd update the latest news. I sent the tenant an email last night saying that whilst we'd prefer they commit to the lease we would let them out of it with all advertising expenses and rent paid until another tenant was found. I was very 'nice' about it; they are nice tenants after all. Anyway, I…[Read more]

Hi D, they're moving because they've found another property they want to rent. I'm not sure of all the details. They mentioned on signing this lease that they might want to move after this lease expires and were looking to buy. I get the impression its 'just because'. I don't anticipate in this market that we would have trouble getting another…[Read more]

I would go with a periodic tenancy from 25th June. Let the tenant know that you plan to sell the house. If you get a buyer, you can do settlement in line with the tenants notice to vacate … sounds like a plan!! Many buyers will find the idea of having a tenant in place an attractive idea so I wouldn't think of it as cutting out a section of the…[Read more]

Wow, Matt, you've obviously got a lot of thinking going on … and some great support in family who are already investors.My first thought is that with only a part-time job your possibility of getting a loan may be limited. I would talk to a broker who can assess your suitability right there and then. You could always run it through one of the…[Read more]

Hi, my two pennies worth in answering your queries: Is it legal? Check the council regulations to ensure what is a satisfactory number for a residential property. If it comes under a 'rooming' or 'boarding' house AND you have a lease for it in that situation, then obviously, yes, its legal. However, if you have a lease for only a few people, then…[Read more]

Wow Steelar … you'd think having a managing agent would help solve some of your problems with tenants … even more so when you live so far away. I wonder how much of their decision making came as a result of knowing you were in Australia and, in their opinion, not so easy to contact as a local owner?Good luck with the sale and your new life here!

Wow AndrewH … if I had $45,000 to spend I wouldn't be giving it to someone to find me a property … I'd be investing it in that property! I appreciate your drive to achieve properties in a small precise point in time, but I think with some research, read lots, surf the net, do some courses, talk to people and forums like this one and you'll…[Read more]

GH, I live in Perth and have two investments here. I think you'll find that we're not too different from other areas of the country BUT for the fact that our economy is doing pretty well and we traditionally, don't drop prices too much. A discussion I had years ago with a real estate salesman was around what would happen if our 'bubble' burst…[Read more]

Hi Ryan, first up congratulations on becoming a new dad. Its great that you're positive about teaching her about financial freedom and investment. I believe its one of the reasons why so many people don't achieve it … we're not taught basic budgetting skills as children (or in school) … and its so important.I have two daughters. We've taught…[Read more]

Hi, I live in Perth and have two investment properties here. My husband and I built one and we bought the other established. My preference on affordability is to build over buying established. Many developers offer landscaping packages and carpets, blinds, etc. so you could pretty well sign up and get a tenant in when its done without much extra…[Read more]

thecrest, I love the way you think …businessglobal … wow, you've got some stories to tell. I totally agree over the PMs. The come and go and are often so unreliable. All the checks in the world won't save you from a bad tenant or a good one gone bad. Worthwhile advice you have there!gmnicho … my opinion on your query regarding a long lease…[Read more]

g0biin, as I mentioned in my previous post, you do need to stay on top of the market and cater for any increases so you're not in the current situation. My advice on the reno's … if you can get market value without it, do it …If you think you'll get more with some reno's, then taking into account how much you'll outlay vs how much extra income…[Read more]

I'd buy the best you could afford … better rent return, hopefully better quality tenant. Just MHO. Good to hear you're not getting carried away. Start with one IP and see how you go from there.

G, I haven't had to 'boot' a tenant out to force a rent increase but I have had to increase the rent on my properties, sometimes considerably. I often have trouble with the idea of bigger rent increases because I'm philosophical about it, I already have a good steady stream of income, good tenants, regular payments and a house that's looked a…[Read more]

If it were me, I'd stick with property … have a look at the global financial crisis to give you a viewpoint on shares. Of course, picking the right shares and even the right property is a challenge in itself. I'm biased towards property but I also have some shares which I just let 'sit'.You have equity in your own home to buy an investment…[Read more]

I have two properties which I own with my husband so I can't talk from the point of view of a three way split. However, from the point of view of a joint investor, if I were in the situation of one of the parties wanting to get out, it wouldn't bother me if you bought me out or the property was sold. Either way, I get my third share of the value…[Read more]

Well done Ranjeev on falling in love with property investing. I have two rental properties in Perth as well as PPOR. Perth has been a great place to invest and will continue to be for the future.Its never too early to get started and once you do, you'll be hooked. Until you have job security, learn as much as you can, do your research on suitable…[Read more]

I have two rental properties where both tenants have cats. I don't mind cats (I have two). I live in WA. We charged a pet bond of $100 which is the maximum I can charge for pets, irrelevant of the number. The idea of the pet bond is that it covers for flea spraying, etc. I also specified in the lease that the tenants have permission to have x…[Read more]

oo3c, you go girl!! You're the same age as me, kids similar too … you've made the decision to go, so be positive, you can do it, look for better. Getting rid of the negative crap in your life is liberating and you'll be surprised how different your life is. I'm a firm believer that once you've decided what you want, there's no point hanging…[Read more]