Check it out with the transport crowd – it may be that the risk of cracking asbestos sheeting & the subsequent clean up may not be worth the hassle.

You probably won't be charging gst on the sales price however the sales price will require you to remit gst. You are probably best served by talking to a speciaist accountant who can take your situation into account.

Hi Superman,

Payment of insurances and all bills can be done in several ways,

a) my preferred way is to is to give the tenant an annual budget which covers your estimated outgoings and the tenant pays 1/12th every month. At the end of the year, you reconcile the account and either claim the balance from the tenant or repay the balance to the tenant; or

b) you can also pay the bills as they arise and seek reimbursement on an adhoc basis; or

c) you can have the tenant pay all the bills directly but you lose control of knowing what has been paid.

As to the outgoings included to be paid, it will depend upon what the lease calls for, it may nominate all of the outgoings or may nominate only certain outgoings eg strata levies, council rates, insurance, management fees…

The land tax bill is attributed to the owner not the tenant

Basically, as the vendor you will be wearing  the gst ie you won't be charging gst on top of the sale price (unless it is commercial property and you are registered for gst).

Go visit your local hotel foyer in HK, you're bound to find an Aussie solicitor on holiday. Had it have been earlier in the week, you may have got Julia to oblige as she was doing the rounds of China. (Possibly try the Oz consulate as well).

The values provided vary from state to state & are for ratings purposes only. These may or may not resemble the value of your property as bulk valuation methods are utilized

Is the house within the industrial or residential zone? Having a factory use in the property behind/across the road is usually a big detractor affecting the sale price, rent etc – so why are you considering this property? Does the property have an upside of change of zoning or rezoning of industrial to residential?

Some industrial uses are fine eg light industrial but if you abut heavy industry there are noise issues possibly 24/7, trucks, parking issues etc.

Taking the devil’s advocate approach – you may need to exclude the additional land from the leased area as a tenant who rents the property may want exclusive access to the entire block or unimpeded access to their lease area.

So you will need to consider what you’re leasing out as well.

If the tenant has signed for 12 months, then you can't increase the rent until the end of the fixed term ie you can serve notice of the increase 90 days prior to expiry of the lease (just need to check Qld legislation).

By the way, it sounds like the left side of this agency doesn't know what the right side is doing (is the place leased or vacant?, at what price? what is the term? There should be a copy of the lease on file at the agency and if necessary a copy made available to you if requested).

"Barry Plant's" real estate…heh heh heh – the name says it all.