Forum Replies Created
Thank you all so much for your valuable information. You all provide such a wonderful service within these forums and i really would like to share my appreciation for all 3 of you, Jamie, Richard and Terry! When i read through the forums to increase my knowledge and learn i always see so many replies from you all and have definitely gained knowledge from you all previously! – thank you, truly it really is fantastic!
IP from the get go, so now i know that refinancing is the only option i will just have to keep trying to get refinanced. Terry – my partner is very concerned about putting his name on my loan without having any ownership and what would happen (worst case scenario) if i died/ or even dare i say it divorce (we are very happy so however unlikely it still a scneraio haha). I guess i could look down the legal road if necessary of getting a will made up that says he would get the home if i died, but hmmm divorce is a bit tricky.
We purchased a cash flow positive investment in Kelso, Townsville beginning of this year. We saw it as an opportunity to get in while everyone’s getting out, and as were looking to hold long-term – happy with that. The diverse range of industries was a major tick in our books. Also was on terry ryders list a few years back. Think the values may go down in the short term, but longterm expecting some definite growth. Interested to see what others say too!
Hello. Add me to the list of interested parties, please pm me details :)
Did you tell council of your split house? Do you rent through a property manager or by yourself?
Hi There,
Terri Scheer. Also a good price too! Yeahp i had a good conversation with them. They cover the place on a whole (building insurance comparable to other building only insurance) and then 2 seperate landlord policies for roughly $300 each.
There was also CGU but i thought terri scheer offered better value.
The only other place i could find was NRMA but they wanted to charge 2 lots of Landlord (both the combined building and landlord) which of course comes up more because its not separated.
Hope i helped you out!Its really impossible to find info on this granny flat stuff on whats needed to do for an existing granny flat. Legally do i need to ask council for approval for habitable dwelling? Its been approved as a games room with the kitchen and bathroom. I’m going to separate the electricty and gas and install the smoke alarm. I believe that should meet the NSW Granny flat requirements. Maybe ill call NSW granny flat dept see what they say first.
Thanks for your reply. i most appreciate the advice.
Yes i had this checked over by my conveyancor. it was approved as a games room (with kitchen and bathroom)back in the 80/90’s my conveyancor had no problems with that.
I have also clarified with my insurance the building insurance is covered as one whole and landlord insurance would be needed per lease so will have 2 landlord policies once the granny flat is rented out separately.
Sorry i might of been confusing before i meant that the electricity and gas will be separated. I will pay for the cost of water.Theres not too much privacy at the moment (something i will have to look into) but as the current tenants have friends who want to move in it wont be an issue for them. (so can wait on this) It is definitely separated from the house and you cant see into each others property’s or anything like that.
I have heard about this mailbox idea and what worry’s me is council. I think they would kick up a stink saying i cant do it as its not subdivided. I heard this happened to someone not sure if it was a forum on this site or elsewhere. I know theres a lot of granny flat owners in Sydney – what do you guys do? Scared to contact council as they were very unhelpful on my first enquiries, and know that NSW Granny flat rules and Council rules can be conflicting, but was told as long as your meeting NSW rules your fine to rent it out.
