There is a requirement to disclose violence/death etc where it has occurred in the last 5 years (might check with fair trading or read the Property Stock & Business Agents Act NSW).

Send me a pm with a few more details so I can have a look at it for you.

I see your point Luke but ‘ them’s the roolz of da game’.

The alternative would have been demolition of the fibro & 60’s houses & have two new builds, the budget wouldn’t allow it, quality of the end product wouldn’t be there either. In a falling market, would these options have protected the ‘renovators’ any better?

In order to collect gst (and pass it on) you must have an abn & be registered for gst – see your accountant for details.

If the lease is $60k + gst , you will invoice $5k pcm + $500 gst – $5,500 pcm, provided you are registered for gst. If you aren't registered you can only charge $60k but have to wear the gst which you have paid on the inputs (eg property maintenance, agency fees etc)

A gross rent includes the outgoings (ie you can't bill extra for the outgoings, only for water consumption or whatever is listed).

Outgoings will include: agent fees, land tax, rates, water/sewer service, insurance, maintenance, Essential Services certification etc.

Gross return is 20% – interesting…..Is it a dilapidated building? In need of major repairs? Roof leaks? Compliance issues? Functional obsolescence? Asbestos?

What are the rent reviews? How often?

How long to go on the current lease?

When is the option due to be exercised?

What security is being provided by the tenant? Bank guarantee/bond?

If the tenant leaves, how long will it take to get a new tenant? What is the vacancy rate in the area?

Would you pay more for a good property manager than for a bad one? How would you know until you have an issue?

Speak to a local agent, we don’t all have crystal balls.

not in the least. Everyone assesses their own risk & exposures. The ones who bear the risk are the investors & the bank. Neither control the market.

typically buyers agents will only work with buyers as they want to appear independent of selling a product.

If selling several units, negotiate a bulk rate & better marketing costs.

by the sounds of it, there won’t so much be a carport conversion but a rebuild.

You will need to get council approval ie plans & engineering drawings for the slab. You may not need cavity brick you could use lightweight construction. Distance from boundaries & setbacks may be an issue also.

depending upon what you have agreed with the current agent, notice must be in writing, faxed oe mailed to the company giving the appropriate notice period, may be 30, 60 or 90 days. Some will let you out earlier.