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I just bought / invested $1,390 in 2 tickets to Steve's one day seminar in Sydney on 29th April for my wife and myself.
I feel it's a good start which will help us to learn and focus on a successful strategy.
We are time poor, and can't afford the time to wait until we learn the whole game before we start playing.
The one day seminar will undoubtedly provide us with motivation as well.
Knowledge, proven strategy, motivation, yeah good start, sounds like barking up the right tree to me.
Gather the team together, take a step, move forward, create momentum & energy.
good luck
cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Once had the challenge of finding a tenant for a property beside the railway station and beside the railway line.
Advertised it as a great home for " train freaks ", set the rent high, and bingo – had my pick of 2 good applications. The better applicant had worked for the railways for 40 years, still did, and loved the sound. You could advertise home for rent by billboard facing the passing trains.
They're out there.
good luck
cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Suggest you talk to at least 3 PMs asking them how they would handle this situation. Insist the chosen one write to you with their plan. Negotiate a good rate but leave enough meat on the bone for them so you are a valued customer. Let them do it for you.
good luck
cheers
thecrest
(back after a long absence)thecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Glitch – edited due to duplicated posting
thecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Rent only on a business basis (full lease & bond) at market value and keep increasing it in line with the market at pre-arranged points in time.
Be professional, attend to repairs & maintenance at light speed, and ask yourself :
1. If this goes sour, how will it affect my workplace and job ?
2. Can my friend cope with my duality – friend & landlord – and understand they are separate ?
3. If this goes sour, is it worth losing this friend and could I cope with the loss ?
Hope it runs smooth for you both.
cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Well done Shaztaz, those details will come in very handy.
2 or 3 requests ( if there is an existing relationship then they are instructions by the way ) to your own solicitor to rectify their own mistake is more than enough. After that, the whole matter should go to a higher authority.
cheers [thumbsdownanim
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
In NSW, once the tenant has moved into the property under a lease, then the tenant can pay any amount they like in any erratic fashion and there’s nothing you can do about it provided that the rent is never in arrears.
e.g. Rent is $200 p.w.
Rent is paid up to and including today.
Tenant can pay $500 today and wait until rent is nearly used up, then pay $100 and wait again, then pay $200 and wait , and so on.
The payment for the same amount say every week or month is not enforceable because the Residential Tenancies Act says the rent must be paid in advance. The lease says rent is payable ” at the rate of $200 per week ” . As long as it’s always in advance, and the sun never sets on an unpaid day, there is no breach of the act to enforce. Don’t tell them if you don’t have to though. It’s a damn nuisance, but that’s how it is.
cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
PM should get a quote on cleaning and repair, then assess what amount should be demanded from the outbound tenant.
If the PM & tenant can’t agree, then the PM should arrange a Tribunal hearing and ask someone else to decide the outcome. In this case, the PM has the responsibility to produce clear photographs of the situation together with several quotes for the cost of repairs and cleaning, plus the inbound & outbound Condition Reports to back up the claim.
The PM can demand costs for cleaning and repairs above and beyond reasonable “fair wear’n’tear “. The ” fair ” part of FWnT differs with the nature of the tenant e.g. more WnT is allowable for the tenant if you rent to someone with 4 kids rather than a couple with no kids.
good luck
cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Hi M_K
Let the PM handle the matter. Provided you have instructed the PM on your preferences with tenant selection, then let them do their job.
Better not to meet the tenant. Once you have signed the Managing Agency agreement with the PM, then they will sign the lease on your behalf.
cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
This should be handled by a solicitor, even though it may appear simple and straightforward.
The Residential Tenancies Act provides laws relating to leases, but may not cover options to buy, and you need to be sure that the act of terminating a lease, whether done by mutual consent of the parties or by a Tribunal, actually extinguishes the option to buy as well. A breach of a lease does not in itself terminate a lease, and one party to a lease cannot terminate a lease. That can only be done by mutual consent, a Tribunal or by a time clause in the lease such as a fixed lease period. But, in the case of a terminated lease, you really need to be sure the right to buy option is extinguished before moving forward.
cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
The PM is at fault for not advising you earlier and for not acting within a reasonable time. [angry2]
Suggest you instruct PM to act quickly to remedy the situation by having pest control fix the problem. Probably only cost $100 – $150, which is less than the cost of replacing the tenants.
Doesn’t sound like tenants would be successful in gaining a Tribunal termination of the lease for this problem provided PM acts quickly now. The inspection reports support the tenants to some degree, but one inspection does not support a long period, and ants can be sprayed daily and the tenants would have to provide a lot of supporting documentation over an extended period to secure a termination just for ants.
What action have the tenants been taking to discourage the ants ?
Have ants suddenly taken a liking to surface spray ?
If the tenants depart, then to whatever extent the PM’s delay contributed to the problem, that’s the extent the PM should give you relief from re-let fees, so they pay for their mistakes. [biggrin]
cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
ensure that the mental condition of the client is such that the client is capable of protecting his or her interests, and
How are you meant to do this ?
Do you request a recent psych report ?
Howzabout a literacy & numeracy competency test ?
Whatever happened to caveat emptor ?All sounds like swiss cheese to me.
good luck, hope you wrappers can plug the holes.
cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
If you’re paying one month’s rent in fees, one twelfth is 8 1/2% so it’s not too bad depending on what the local area market is paying for PM. However if in doubt, read the Managing Agency Agreement to see what you have agreed to, and the fees should be specified as deductions on your statement, and the total amount of rent collected should also be stated. If not, then the statement is false.
cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Hi Cutegirl
Your Propertyy Manager has not acted properly. This is pretty tough on you, sounds like you’re not ready to do the PM yourself, and you’re battling on your own.
Ask your PM for a written explanation of how they handle rent arrears, specifying exactly what they do in stages to address the arrears problem up to thirty days in arrears.
Whatever their answer is, they’re dead in the water.
Talk to the owner of the Agency. If it’s not fixed at their cost,
find another property manager fast. If you can’t do PM yourself, and the PM isn’t doing it for you, then you need a new and good PM fast.
cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
I just don’t agree with you Dazzling, and any others who suggest passing over on this one. If I pay a solicitor to do a job, I expect it to be done. If I then have to mop up after him because he hasn’t done what he said he was charging me for, then I expect some refund.
I would be advising the solicitor in writing of the problem, giving the solicitor the opportunity to fix it, in order for the solicitor to mitigate my losses, (rent, legwork, phone attendance on the solicitor, letters, postage etc) and if nothing was done, i would go ahead and employ an expert to do it, and demand the costs from the solicitor. If the response was still poor, I would lodge a complaint through the law society. Why does anyone think solicitors are untouchable ? A number of them are de-frocked every year.
So we don’t have to put up with shoddy work from them, or the plumber. [thumbsdownanim
cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Hi Gamay
You obviously have all the info to make an assessment, so I hope it is a success for you.
BTW, not sure about other states, but in NSW, the Dept of Housing can assist. It goes like this. Tenant is in arrears not more than 4 weeks. Landlord issues a termination notice. Tenant asks DOH for help, attends an appointment at DOH & provides Bank Statements etc. DOH will give landlord up to 4 weeks rent gratis, not repayable by tenant or landlord, in order to rescue the tenancy and keep a roof over the tenant’s head so the tenant does not become a bigger problem and require emergency housing. Landlord must provide written confirmation to DOH that if the rent arrears are paid, this current matter of arrears and breach of lease is resolved and the Termination Notice becomes invalid. This help is available to that tenant once per calendar year. Nice to see our taxes hard at work.
If you need to access the fled tenant’s bond, do so, because the DOH will also provide 4 weeks bond for your remaining tenant if necessary. Keep paying your taxes everybody, we can use these safety nets ourselves sometimes. [thumbsupanim]
cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Someone lied to you, you didn’t get what you paid for, this is your solicitor’s problem to fix and compensate you for.
cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Originally posted by gamay:I am managing this property myself.
She paid last week’s rent and promised to pay for previous two weeks last Wednesday, but didn’t and also skipped this week rent again.
I tried to be reasonable and avoid the legal process, but looks like have no options. I issued an eviction notice.
Gamay
There can be no such thing as paying last week’s rent when earlier weeks remain unpaid. It causes confusion and difficulty in writing rent receipts because you don’t know what paid periods to put on the rent receipts . Also, if the tenant owes say 3 weeks, and you give her a rent receipt showing last week’s rent is paid, she can use it in a tenancy application else where to show that she is paid up to date.
Best to be firm and not be the soft touch, as you’ve probably noticed, the soft touch gets the squeeze. She must assess her situation, and arrange payment or move into more affordable accommodation. Whoever said “issue the notice to vacate immediately” is correct, then start discussions. Unless you enjoy doing social work and making large charitable contributions.thecrest
thecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Investment Detective will crunch numbers for you, very nicely too, with enough different angles to keep most accountants happy.
It’s so cheap really, just get it, go for it, use it, get some investment happening and try to outgrow the software.
cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Looks like OTEN provides the full accredited course to the stage of The Dept Fair Trading issuing a licence to be a Real Estate Agent ,
Here’s the quote from OTEN :
Course No.9673 Property (Real Estate) $1050 AUD
Mid-year rate $525 AUD
Diploma (AQF)
National Code PRD50101
cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
