Although more expensive, the reiv course is an industry run course & may be better than non-industry training providers. TAFE is also a good option but steer clear odds distance education as you would benefit from face to face delivery.

Without being too specific, what do you want the software to do?

Mortgage calculations, simple gross/nett returns or the heavier dcf/irr & cashflow analysis?

Shameless self-promotion!

Good stuff, keep it up.

I will temper the above comments – when you sell it is highly unlikely that you will add the gst onto the contract price (as it would effectively be more than the market price), you will however be required to remit 1/11th of the sales price back as gst (less if using the margin scheme).

I have found that in some conservation areas houses which are non-conforming to the requirements actually sell for less than a conforming house. That is why people buy into an area not to buy a newer house which has all the modcons but none of the charm/features of the older places.

@ QM – there is a large number of housing comm tenants in DY & Cromer, hence the unsavory types.

Registered mortgage – bank is a secured creditor, holding & listed on your title.

Equitable mortgage – secured by caveat on your title.

Although this doesn’t come under compulsory acquisition, there may be some grounds for compensation however a valuer would be of more use in providing specific advice in this area.

Upon rereading it would appear that there is an existing easement. This is a pre-existing easement, compensation has been paid & the land so affected can’t be used for much other than open space.

Base your land value on the useable land area and ascribe a nominal value only to the 140 m2.

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Ah, the life of a pm.

A lot of PM’s I know in Oz, handle 150+ properties.

Their duties vary widely: marketing (uploading to web, press, inhouse brochure, email blasts etc).

Open house (why bother with ad-hoc opens only for pre-arranged meetings)? Now that’s about 4 x 30 minutes + travel.

You mentioned a vacancy rate of 15%!! A pm here would be flipping burgers if they were running above 5%, less in many areas.

Lease preparation, tenant applications, owner approvals etc.

Arranging maintainence requests & repairs, Rent collection – ever heard of EFT? How 18th century is it when the pm has to collect the rent? It is the tenant’s obligation to make arrangements to pay, not the other way around.

Minimum of annual or biannual inspections.

Other – monthly reconciliation of accounts, remittances, payments of outgoings. Oh! I forgot, then there’s the cpd, in-house training, professional readings etc…

Sounds like you guys might benefit from attending a couple of conferences in oz as it does not appear to reflect world’s best practice.

PS: I like the idea of exit polling. PM me with what you use, it’d be an interesting read.

I like how the FPA will put its hand out as if property is just another ‘financial product’ from which to garnish fees. So were all those great mortgages they onsold to investors/smsf/councils etc prior to the gfc.

Property, unlike many financial products require intensive management, they require physical maintainence, repairs, payments of outgoings, suffer periods of zero cashflow (vacancy), depreciate in value, are illiquid, and may even suffer losses. That’s what agents are for.