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  • Profile photo of Philip-GreenPhilip-Green
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    @philip-green
    Join Date: 2020
    Post Count: 0
    December 28, 2020 - 5:12 pm
    DeanCollins wrote:

    So have a question for you more experienced investors…….. If you own an IP in a strata apartment building and your tenant floods the apartment and causes damage to other apartments (or starts a fire and causes the fire to spread to other apartments…….eg insert your favourite disaster in here)…..are you responsible in any way as a landlord…..? Or would this be covered by the strata insurance? I guess the question I’m asking is apart from strata insurance is there any obligation for an IP owner to have additional insurance? If the tenant damages your kitchen (eg with fire) aren’t they responsible for the damages….likewise with the damaging the next door neighbours floorboards through flooding. I’m trying to work out if we are “over insuring” for our investment properties having 1/ Strata insurance 2/ Landlord Insurance 3/ the tenants having household insurance. Any links your can recommend?

    I don’t think you are over-insuring here. Your landlord’s insurance will also cover additional stuff not covered in the Strata insurance for example loss of rent damage to the property the list goes on. You may be best to speak with a broker or adviser I use https://fundamentalinsurancebrokers.com.au/landlord-insurance/ for my landlord insurance on multiple properties that also have starta insurance as a standard

    Profile photo of Philip-GreenPhilip-Green
    Participant
    @philip-green
    Join Date: 2020
    Post Count: 0
    October 1, 2020 - 7:55 pm

    I think this will help you more

     

    Let’s say that 10 years ago, when you first purchased your home, interest rates were 5% on your 30-year fixed-rate mortgage. Now, in 2020, you can get a mortgage at an interest rate of 3.5%. Those one-and-a-half points can potentially knock hundreds of dollars a month off your payment, and even more off the total cost of financing your home over the term of the loan. A refinance would be to your advantage in this case.

    Profile photo of Philip-GreenPhilip-Green
    Participant
    @philip-green
    Join Date: 2020
    Post Count: 0
    October 1, 2020 - 4:48 pm

    Amber Khanna Property Development System

    Profile photo of Philip-GreenPhilip-Green
    Participant
    @philip-green
    Join Date: 2020
    Post Count: 0
    October 1, 2020 - 4:15 pm

    Breaking News! NSW Government will temporarily remove stamp duty on new homes under $800,000 for first home buyers from August 1st, 2020. The change to the thresholds will only apply to newly-built homes and vacant land, not to existing homes, and will last for 12-months. Our NSW stamp duty calculator will be updated to reflect this change when it gets approved in NSW Parliament. Meantime, see if you are eligible.

    UPDATE: COVID-19 Housing Response Bill 2020 has been assented on 11 Aug 2020 by the NSW Parliament and our calculator is updated with all the changes now. Please report any discrepancies.

     

    https://stampduty.calculatorsaustralia.com.au/stamp-duty-nsw

    good luck hope so this news will excite you

     

     

    • This reply was modified 4 years, 1 month ago by Profile photo of Philip-Green Philip-Green. Reason: spell mistake
    Profile photo of Philip-GreenPhilip-Green
    Participant
    @philip-green
    Join Date: 2020
    Post Count: 0
    September 25, 2020 - 5:10 pm

    Thank you for the advise.

    Profile photo of Philip-GreenPhilip-Green
    Participant
    @philip-green
    Join Date: 2020
    Post Count: 0
    September 25, 2020 - 5:07 pm

    Possibly there will be changes sooner rather than later. Property speculation for me is a standout amongst other venture.

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