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Can’t really comment about the Irish market however sydneys eastern suburbs is blue chip real estate and should only be sold if absolutely necessary.
As mentioned above, best to talk to some brokers and reputable agents to get a good snap shot of your future endeavors.
A little research goes along way. If done properly, your financial future will flourish especially given your current situation.
Feel free to private message me if you want some names of reputable people is the east. Been living and working here in property for 30 plus years.
Cheerio and good luck.
Be carful with tools. If you give the tools to the tenants, the tenants are entitled to have that same tool for the duration of the tenancy. If the tool (s) break, you, the landlord need to repair or replace it.
Just like an over, dishwasher, washing machine etc.
90% of tenants will purchase their own tools. If they are house proud, they will want their home looking optimum.
Guttering. This is a maintenance issue the landlord will need to address. The tenant is responsible to maintain the grounds however the guttering and what happens to it is beyond the tenants normal responsibility of the property. If your tree is causing the guttering to become littered, this is a situation of which it becomes general maintenance of the property beyond the tenants responsibility. Similar to a fence, the structure of a home etc. However, if the tenant has caused the issue, yes it is their responsibility however very unlikely.
Blackhotel, Coogee is a hard suburb to beat both in capital growth and yield. As local at Coogee and an agent for over 15 years locally, I have seen buyers make millions from your suburb however I have also seen buyers who brought at the peak go broke.
Most of the happy stories however come from blue chip suburbs like Coogee.
Happy investing.
Hi Andrew.
Wow, indeed their are some experts on here which have given you some sound advise.
In short, when interest rates declined in 2008, rents did not drop in value, at least not at the same rate that interest rates did.
As a real estate agent for the past 15 years, all of a sudden, owners have been calling my office demanding rent increases as rates have increased. NO NO NO.
Tenants are not uneducated people and with the ability to gather information real quick, tenants are no longer hanging around being bullied by agents/owners.
You have to be able to justify your increase in accordance to market conditions. Today, one would just jump on the net, have a look at their suburb and property stats and you quickly get a very good idea of market value.
Now a tenant does exactly the same and if the home their in is no longer value for, away they go.
You are left to foot the bill, pay the agent commission to re lease your home, rental loss of a 1 or 2 weeks to locate a new tenant, advertising costs and not to mention the possibility of a bad tenant.
Keep you rent 4 or 5% under market value at all times. This will attract very good tenants and they will be happy meaning you will reap the rewards.
Good luck out there.
I have to agree with certain comments. Sight unseen is an absolute no no. Pictures can be manipulated to make a home look completely different from what it is. If you are unable to physically view the property send a friend at the very least.
Furter to this, the agent will, in most cases act for the vendor. Make sure your offer is in writing and that you communicate your thoughts to the agent on a regular basis.
In my experience, too many buyers assume the agent is a mind reader and in saying that, when the property is sold to another party, it is you that misses out not the agent.
Ring him/her on a daily basis to get an update. Send a fax with your offer or better still sign a contract with the relevant deposit and your purchase price on it and submit that to the agent. The agent will not, let your offer go by without communicating that tom he vendor as the paper trail you have created causes the agent loads of problems if he/she misrepresents.
Keep us posted.
Hi all. The legislation here is very straight forward and simple. A tenant must maintain the entire property (assuming there is only 1 lease on the home) allowing for fair ware and tear. Outside influences like drought etc can influence the outcome slightly however the condition you give the garden is the condition it needs to be returned in. Be careful with special conditions in a lease. If it contradicts the law, even slightly, this could be damaging. Take care.
