There’s an Aussie couple in Vanuatu who’ve done a subdivision. They’d be worth talking to. They live there. Seen photos of their work. Ask the Embassy , Consul or whatever Vanuatu has in Oz about contact details of the Vanuatu “Ministry of Lands” there, or whatever they call it, they’ll give you a contact name and contact details.
cheers
thecrest

Someone ratted to a teacher about my son’s new cap he likes wearing to school, now he’s banned from wearing it – big letters on the front just say ” FIGJAM “.
Turns out to mean “F— I’m Good Just Ask Me. [specool]
Some teachers have no sense of humour.
cheers
thecrest

Might be wrong here but I thought you could arrange a contract without cooling off period and access clause granting the purchaser unfettered access to the property for the period between exchange and settlement ?
Any legal eagles on the forum here ? straighten me out if this is wrong please.
cheers
thecrest

Just settled on a commercial property financed by St George. They have the option to call on more cash from me if the LVR exceeds 60%.
cheers
thecrest

Speaking as an ex PM in NSW – Wow what a slug ! With fees like that, they’re not going to care whether they collect rent or not, or go to Tribunals, or the tenant does a runner. Its a win win win for the REA. Actually looks like a REA windfall every time you lose a tenant, so why would any agent want to find you a stable tenant? Better to have an unstable tenant who plays property leapfrog, worth much more for the REA, viz.On a $200pw property – re let fee ($400), 2 condition reports($140), final bond inspection ($50), ads ($50), new lease ($20), (sub-total $660) plus Tribunal time $$?? And having spent so long in Tribunals, man, wish I’d been on $99 per hour while you wait from 9 am to 11 to be heard, plus outside negotiation time with extra for hostilities and death threats at a premium, plus re-hearing time back inside after “negotiations.” Starting to look like lawyer fees at court to me. And 2 weeks re-let !! [ohno] Looks like the incentives are in the wrong place.
Better to encourage the agent to find a good tenant and keep them.
So, LOWER the following fees:
re-let,
condition report,
final bond inspection,
routine inspections,
court/tribunal attendances,
meetings.
INCREASE / ADD the following fees :
management fee for rent collected,
bonus for 12 month continuous uninterrupted rent,
bonus for successful unchallenged 6 monthly rent increases,
bonus for fixed lease renewal for same tenant.
30 day cancellation period of management contract or without notice while vacant if the property is vacant for more than 14 days.
There, that puts the shoe on the right foot.

After all, they’re supposed to “look after the best interests of the PO” , and all managements are open to negotiation and restructuring.
Offer the same deal to a number of REAs while the management agreement is up for renewal.
Got hides like Rhinos most of them.
good luck
cheers
thecrest

Hi LifeX – You must be a good person who wants to help others. That makes you a soft target in PM. I tried mixing social work with PM and still have bandaids all over me. They don’t mix successfully without you suffering at regular intervals, and also enjoying the special satisfying feeling of helping someone worthwhile out of a hole.
I adopted the firm approach, set guidelines, and avoided the hassle and labour intensive nature of socio-economically challenged properties and tenants. However, if I had some of those properties, I would charge market rent, and hold a hard line, that’s the person who gets paid first, and you can then afford to help someone deserving when they come along.
cheers
thecrest

The rent increase is overdue anyway if the rent level is below market. No need to add the extra expenditure, don’t play all your cards at once. Get the increase in place, wait a few months for the new level of rent to become the norm, and for the weather to warm before offering an airconditioner, on a stinking summer’s day and night, an airconditioner looks cheap for $10 extra rent per week. Why work uphill and try to sell fur coats to africans and icecreams to eskim-os, when it can be so much easier the other way around. good luck.
cheers
thecrest

Sounds like you haven’t settled if you have to rely on others to unlock the property for you.
You can still demand that the property become “as inspected.” The selling agent is responsible to ensure that the property is handed over as described, and as inspected. When you say “your agent”, and assuming they have a hand in the deal and they are on your team, they have a responsibility to look after your best interests. Make sure they do, or rectify their lapses at their expense. Is it an IP ? Do they want the management ? Are they fumbling the ball on the simple things ? PM is a big responsibility. Are they up to it ?
good luck
cheers
thecrest

Dear Jason
You can sell the property anytime you like. But if the lease is still in the fixed period, then the lease is still binding on both parties, the tenants and whoever the owner is. You can negotiate with the tenants, but you can’t remove them against their will until the lease expires.
The tenants can jump either way when their place is up for sale. They might want to stay, or go. And they might want to buy it from you as mentioned by jdylan. Are they candidates for a wrap ? When you say the lease has 10 months to go, I assume that means the fixed term of the lease has 10 months left before expiry. In that case, a buyer who becomes the new owner cannot remove the tenants until the fixed term of the lease expires. You need their co-operation during the selling process, easy access, good property presentation, punctual rent payments, so explain the benefits of the new situation to them. If they look & act like good tenants, the new owner will be more likely to want to keep them on, after the lease expires. If they play up, they will create a bad tenant record for themselves which will haunt them through tenancy databases, and the new owner will remove them asap, after the lease expires.
Stay close to your PM, it’s a great learning time, and get a grip on who has what rights because at a time like this, all those rights are being exercised and are interacting at once.
hop eit runs smooth for you.
cheers
thecrest

Dear Successplanner
More info required to help you.
I have info on leasehold Motels if you need it.
cheers [biggrin]
thecrest