Forum Replies Created
Just so you are aware, its been down since 8am ish on Sunday morning in case they try to spin you a long yarn!!
bradje wrote:Yet fixed interest Home Loans from ANZ and CBA are at 7.99% for 10 years and 15 years respectively.
So does this suggest a disagreement with Steve's diagnosis or can the views be reconciled?Interestingly, if you look at the 10year cash bond rates – the % at which the banks buy the money to lend you – the banks are buying the 10year bonds at 6.10% (Bloombergs 24-Oct). So if you think the CBA are doing you a huge favour at 7.99%, think again … they are making a VERY VERY healthy 1.89% on the loan for 10 years!!!! That works out to be an awful lot of money over 10 years!!
The 3yr bond rate is about 6.75%, so the shorter fixed term mortgages are far less profitable!
Cheers
AndreOnoiki
Exactly where we are listed. We were going to list it on other sites, but haven’t yet needed to. Ours is also based around $100 to $130 a night on the northern beaches. And like yourself, most of our clients don’t want hotels and do want flexibility.
Cheers
AndreWe have only just started doing this with our pool house in the garden so our experience is limited.
However, the experience has been extremely positive. The place is only a studio overlooking the pool and garden and is quite private and tranquil. As a long term rental, we’d be lucky to get around $250-$300 a week at the most. As a holiday letting, we are getting inundated every single day for bookings in the region of $550 – $650 per week. Even though we are now out of the peak of Christmas and New Year, we are finding that it is busier than ever and mostly from locals and Aussies, not overseas visitors.
I think it really matters how well you “dress” the place. Grubby places will fetch grubby prices. Also, it is important to advertise it well with lots of photos and information. We have found a little niche by offering FREE wireless internet (incl. in price of course) and pet friendly for small dogs and cats. Interestingly, EVERY SINGLE renter has asked to be hooked up to the internet and it was one of their primary reasons for choosing us, followed closely by location, pet friendly and quality of the rental.
We wouldn’t try to rent it long term again, just not worth it. As others have said, cleaning and laundry are a pain, nothing has been broken as yet so that hasn’t been an issue. We have found people to be more respectful in the short term rentals than the longer termers. Plus, our pricing probably excludes a lot of the general riff-raff who destroy places.
Cheers
Andre
