Beg to differ there Nigel, in the stratum developments that I have seen, the stratum does come first but the owner of the stratum has the rights to further develop their stratum eg a multi-use development may contain 2 or more stratum eg carpark, retail, commercial and residential stratum. If stage 1 & 2 eg carpark and commercial are built, the…[Read more]

If they have gone into the floor joists ask yourself how did they get there? ie through the bearers/over ant caps etc? Where else did they go? ie what is missing – walls, roof space?

There may be a lot more damage that isn't evident to the inexperienced.

Trading income – income derived in the course of doing business

CGT – capital gains tax, a one-off profit derived from a capital transaction

Why you want to keep the house when it will probably yield another 2-3 ? Check your numbers carefully as going down this path may not be the optimal use of the site or give the best bang for your buck.

With regards to the rest of your fence, this is your/other neighbour's fence so YOU will need to get the quotes & contact the other adjoining neighbour – I would suggest contacting the same 3 fencers who have provided the quotes (since they have been to site and it would be cheaper to use one of these guys than another contractor.

I use Austbrokers (North Sydney) – Angela O'neill

Maintenance is a rarely defined item in a lease however it will largely depend on the construction of the lease as to what it may mean and to what extent each party is responsible.

I have seen plenty of leases where the lessor is required to keep the exterior of the building/grounds in a similar condition to the commencement of the lease but also…[Read more]

You may be better off getting in contact with a quantity surveyor than a valuer – the old chestnut: cost vs value.

Query it. Ask for the comparables which they have used.

It would depend on the terms of the loans & whether they were adequately documented (pure speculation).

Check with the supplier regards burn marks from cigarettes & also flamability of each carpet.

Wool carpet is too high quality for the location.

I’d probably stick with the commercial lease unless you leased it separately from the industrial property. It would be a condition of any licence or sublease that the sublessor be required to enter a residential lease with the tenant of the house. CYA.

What does the lease say about living on the premises? Is the tenant able to occupy the residence under a licence? is it a caretakers residence or a full blown 2/3 bedroom house? Does the lease stipulate a rent for the house & another for the commercial use?

Stupid question here, is it a gross or net lease ie who is paying the insurance? If the lease is net ie you pay all outgoings, (and the lessor being a scotsman – apologies to the Scots), I would be going for the lowest possible excess to minimise my out of pockets and maximising the tenant's cost of insurance. It is all about structure and what…[Read more]

Whether you have built ins or not you still need to put a robe into the room, it will still take up space etc – so they are only single bedrooms.

If they need to put more people into the room, use bunk beds.

Just make sure that they don't exceed the maximum wattage for the light fitting.

Two storey units (maisonettes) tend to have a little bit more wasted space due to the staircase and upstairs hallway chewing up floor space. 

Alternatively do you a 6 year lease with a break clause allowing you to exit at yrs 2 or 4?

Generally speaking though it is a 2 year lease with agreement to extend on the same terms for another 2 yrs + 2 more if you choose exercise the option at the appropriate time.

Most importantly, what is the zoning of the block, this will determine whether you can a) subdivide b) build a duplex c) build villas/units/townhouses d) do nothing.

Read 'Bankstown death-trap in the making'.