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I'd be expecting 9-12 months depending upon the complexity of the project, the quality of the project manager/builder, issues in the ground, extent of consultant involvement (design), adequate funding for variations/contingencies, weather etc.
Hate to disagree with the move towards stone/manufactured stone products. My kitchen extensively uses Corian (benchtops, splashbacks and bay window). Product is extremely easy to maintain, no clearly visible joints, no grout lines to get mouldy, easily cleaned, non-porous (doesn't require sealants), non-staining – commercial applications can't be wrong (you could also consider stainless steel however this is a bit of a pain to keep clean and free of marks).
Google Maps – saves time in wasted inspections (if the street has been covered). One site I considered stacked up nicely however was located on the driveway side of a rough pub adjacent to the keg store (really quiet).
Matt, the lease is a double edged sword – in the first instance it gives the lessor the benefit of the knowledge that you will be hanging around for another six months, not leaving on a month's notice and for yourself, it means that you don't have a rent review during that period (unless you have agreed to one) and you can't be kicked out for another six months. If you have no intention of moving within the next 6 months, it shouldn't be an issue.
I always get my PM to sign the tenant up for a new term irrespective of how good their track record has been (or if I don't want them them to continue, have notice served at the appropriate time).
Some I do and some I don't – it depends upon the property. With most resi you're not going to be saving thousands annually by doing it yourself unless it is grossing $500 pw (what is your time worth in managing the property which you can't claim).
As pointed out above, property in the lower price ranges (sub $400k) has been in higher demand from FHB (it may be considered that many FHB have brought forward their purchases by 12-24 months and that if the grant (or the additional incentives esp in NSW) are withdrawn, then there will be some downward pressure on prices). If FHB have been using the grants to bolster or make up their deposits, this will have an even greater downward pressure on demand and price, especially if as many articles have noted that prices have been inflated by the FHBG.
Consider both your upside and downside risk when entering the market prior to June 30.
A little bit hard to add value to your question without knowing whether you will have any capital left after taking a $20k hit on break fees and an unquantified capital loss on the sale of the property.
A little bit hard to add value to your question without knowing whether you will have any capital left after taking a $20k hit on break fees and an unquantified capital loss on the sale of the property.
Which State are you in (your website contact no. doesn't give it away).
Lordy, Lordy, Lordy! I am trying to come to grips with what you are trying to do and why. If you are seeking to charge PM fees back onto the 'owners' then you may need to hold an RE licence unless you are the owner of the trusts etc which own those properties.
It depends upon whether you feel that you can manage the property yourself or would feel uncomfortable doing so. The hard work is already done ie tenant found, you need to agree a suitable rent, prepare the lease (provide the renters guide etc). If you feel that you can handle this, then go right ahead.
As pointed out previously, there is no obligation to maintain the systems once installed, only the installation of a new backup battery upon commencement of a new tenancy. If need be, a sparky can do the changeover during the vacancy.
Logic does have to prevail, I donot go to my interstate sites unless I have to and changing a battery is not a valid cause to spend 3 days on the road (not very cost or time efficient as you point out).
(Do cars need washing)?
Our pm is quite thorough and does invite us along to inspections if we are available – it allows you some time to catch up with the pm, discuss the market, issues with your property which may require some attention in the future and allows you to work on the pm/owner relationship (not just screaming at them as the tenant has not paid or whatever other issue has arisen). I try to meet up with my pm's if I can especially when there is a new pm working for the agency so that you can gauge their performance as well.
If you are not local – leave it in the hands of the agent but still catch up/meet with them annually. If you are local, try to attend the occasional inspection with them
Exclusive listings are generally the way to go whether it is for resi or commercial. It then leaves the agent with the ultimate responsibility for getting the letting whilst you keep giving them grief until they have leased the house.
Putting the property with 2 agents reduces their incentive to work on your behalf as they may have put in all of the work and the tenant decides that they will take the property through the other agent who hasn't even done an inspection. ie care factor becomes zero.
Check your agency agreement, it will most likely only require one month notice to terminate, so don't give the agent the benefit of the doubt (if they ask, tell them you will be taking over the management). Either let the lease expire, you never know, the tenant may wish to stay on holdover and get the current agent to do the rent review (at least you will have the agent's opinion on the current market and whether a change to the rent is warranted).
There is a product on the market from White Knight which is made for painting over glazed tiles – visit hardware heaven to pick up a can. Alternatively, if you want a professional job, there are several companies who will respray tiles and baths on site – this is quite effective and does not scratch off although like anything it will chip if hit hard enough.
Shanematt, what are your comments regarding perpetrator's notes? AS1851 does not apply to properties where fire protection systems are not installed (ie smoke detectors are not fire protection systems hence do not require the maintenance or application of the standard).
There are several questions that you should be asking the strata manager. How far away is the next AGM? How long does the management agreement have left to run? Have they previously been doing a good job? Are they usually good with preparing the annual sinking fund and admin budgets? Should you be appointing an auditor to review the expenditure (only worthwhile if you have a large admin/sinking fund or are doing major works)?
Why is the admin account overbudget? What are they suggesting to rectify the situation (is it so far out of balance that a special levy is the only solution)?
Or split your loan account
Telenor, firstly are you in Aust? (the parachute website is US based and some of the information contained may not be relevant). Secondly, do you have an RE Certificate or a licence? The former does not allow you to practice in your own right. Thirdly what area are you interested in (sales/management) and the relevant sector (resi/commercial/industrial/retail/rural).
As pointed out above, there is a general shortage of skilled labour in Oz and in small towns this is exacerbated. If the work is of a substantial nature, then you could ask the PM to get a second quote if the work is not of an urgent nature however it may be difficult. Better still, get the PM to roll up a number of the smaller jobs into a larger one so that it becomes a bit more attractive to those quoting.
