Just found this link to report property people who are not paying as they should. No doubt the Dept of Fair Trading will closely monitor and investigate any complaints and reports and especially claims. The agent found guilty would be lucky to keep their licence I would imagine.
Cheers
thecrest

Property Services Compensation Fund- NSW Fair…[Read more]

Hi Mattsta.
Here’s a hotel for sale, might be a bargain too as a mortgagee sale.
Good luck.
Cheers
thecrest

http://www.realcommercial.com.au/property-hotel%2Fleisure-nsw-finley-500339803?rsf=emailalert-propdetails

Since the holding paddock of good property managers is nearly a desert, it’s not hard for a good PM to stand out.
A PM has only to do the basics well to be a legend in their industry, and the rent roll will profit and grow.
It’s not a job for wannabe social workers or shrinking violets, and it requires the velvet glove over the iron fist, total…[Read more]

The owner already empowers the PM by signing the managing agency agreement, and then hopefully leaves the PM to do the job.
The owner has alreday done what they should to start.
Ongoing, the owner should approve R & M to be done without delay.
Cheers
thecrest

Re property management, I like to know how many properties in the rent roll and how many staff manage them.
I agree that 180 is too many, but that’s if it’s per person. And if the rent roll is located in a “socio-economically challenged area, then 120 is plenty.
cheers
thecrest

Handle everything on my behalf, act in my best interests at all times and keep me informed to the agreed level, reply fast to my calls & emails. Way simple for a professional.
cheers
thecrest

Hi Jam.
These remind me of the linings in some old caravans and old mobile homes, and they’re usually about 3 ml thick.
I’d remove them and replace with gyprock asap.
Love the old wide real timber boards.
That house really has great character.
Cheers
thecrest

Hi Zem.
Ideally, I think you need comments from ppl who actually use the software daily.

For what it’s worth, I tried a couple of programs like Investment Detective I think it was called, looked OK for me small scale, and a few different small scale spreadsheets but never really setup everything and operated with it so not a good test.
I saw a…[Read more]

Hi David.
Hunter region is so strong, we doorknocked it seeking investment in the hospitality area, Muswellbrook, Singleton, Scone, and planned to enlarge that using extra villas, units or houses. The info which the hospitality sector so kindly shared with us painted a clear picture of a very strong investment area totally dependent on mining.…[Read more]

Hi Pumkin.
You said hotel/motel in Bathurst.
Not sure if you’re seeking a hotel motel combo like the Panorama City Hotel Motel in Bathurst, or
you’re saying you don’t mind if it’s a hotel or a motel in Bathurst.

I’m familiar with motel brokers but not hotel brokers.

Can you clarify what you’re seeking and the price bracket please ?

Cheers
thecrest

Whoah Terry, that’s a very big card to play, wish I’d known about that one years ago.
Thanks
thecrest

Hi Layabout.
Suggest a relatively young motel, besides more depreciation benefits, they are less hassle than the older ones, which are more likely to have larger maintenance or repair events which may become grey area issues between landlord & tenant, which you can do without during the first couple of years of the learning process.

The inland…[Read more]

Hi All.
Different ways to get removed from TICA.

Firstly you need to know the details of why you’re listed, and by whom.

If you still owe money, I suggest you negotiate with the REA who listed your name to remove your name if you pay the amount listed, or a lesser amount you can negotiate.

If you believe you don’t deserve to be listed there,…[Read more]

I used Mortgage Watchdog.
It found errors, luckily I only had small ones but that’s not the point, they could’ve been large mistakes and gone either way.
Why can’t a billion dollar bank with massive computing power get it right, when a low cost program outshines them ??
Maybe the Banks should ditch the flawed software, and buy and instal Mortgage…[Read more]

Hi Layabout.
Welcome to the forum from me as one of the many forum members.
Several questions would help clarify what you’re seeking .

What price bracket are you thinking of ?
Coastal or inland ?
Are you seeking a :
Freehold operated under management, or
Leasehold operated under management, or
Passive investment Freehold leased out to a…[Read more]

You don’t mention if the lease agreement requires the tenant to pay water by the meter or not.
Either way, it’s not the tenant’s cost unless the tenant caused the leak by negligence or had knowledge of a leak and did not report it.
This means that if the tenant is supposed to pay water by meter, the tenant is being charged water by some guesswork…[Read more]

Very important to report the issue immediately to whichever Govt authority issues the Real Estate Licences for REAs to operate in your state.
In NSW for instance, Dept Fair Trading issues licences and swoops on REAs to do audits on activities and trust accounts which hold rent. Severe penalties apply for not operating trust accounts properly which…[Read more]

Hi Milman.
$159,000 (Rent)
$15,900 + (10% GST)
= $174,900
and claim the GST amount $15,900 on your BAS if you’re eligible.
Better talk to your accountant on that issue of GST.
Cheers
thecrest

Hi Milman.
Welcome to the Forum from me as just one of the Forumites.
The point of a confidentiality agreement is that you give assurances that you will be will be privvy to confidential information and you will be responsible and considerate with that information. As a potential buyer, it is necessary for you to be supplied with all the…[Read more]

Request the PM to ask the tenants if there is anything they need installed in the property for which they would pay more rent.
cheers
thecrest