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Thanks for the responses.
If you use a deposit bond, how easy is it to get 100% financing from the bank? I thought the bank would only grant, say, max 90% finance? That would mean on settlement you still need to come up with 10%, which would be the same as putting down a 10% deposit in the first place and avoiding the cost of a deposit bond.Banks calculate interest on a daily balance for loans and deposits, and then capitalise (ie.add it to the balance) monthly. It doesn’t really matter if the do this every 29 days, 30 days or whatever – the difference is likely to be only cents. For a loan, longer periods between capitalising would be better for you since it means less compounding of interest (ie. interest on interest). As to which day of the month the bank does the capitalising, it all depends on when they run the program – sometimes it’s convenient to do it over a weekend since it must use up considerable computer time. Hence the slightly shorter or longer periods.
Dazzling, my input was just to give landlords out there an insight from the renter’s perspective. Tenants may gripe about small things but it affects their enjoyment of the property and how they care for it. It influences whether they stay long term or pack up and move. And just remember that some tenants can be quite vindictive when they feel a reasonable request is turned down.
Each time you change tenants you’re going to lose a few weeks rent – that adds up to quite a lot. Just a little compassion from the landlord would be to everyone’s advantage. The things that tenants ask for are usually permanent additions to the property (otherwise why would they be asking?) and would benefit all future tenants as well as making the property more rentable. In a nutshell you’ll have less tenant turnover and less time between tenants.
As a renter, you won’t believe how many properties I’ve viewed that don’t have flyscreens. So many landlords want to spend the bare minimum and still charge top dollar. While on the subject, why do so many houses have fences that are falling down or non-existant? Don’t landlords think that tenants might want a secure garden for their pets and children? Landlords, just spend a little money and you’ll get a quality tenant! If you don’t care about your property how do you expect the tenant to?
