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wendywoo
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Post Count: 31
November 29, 2012 - 8:53 am
Also, all the details of the tenant were sent to me and I was able to give my approval or otherwise for that person.
wendywoo
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@wendywoo
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November 29, 2012 - 8:51 am
Aussieguy,
I have an NRAS house in Queensland. When it was ready for a tenant last year, the property manager told me that there is a long list of applicants but many of them are rejected for NRAS as they are social housing applicants. I think from memory she said that the way the charities who organise tenants are set up, there was not a way to separate nras/social housing applicants so they all wound up on the same waiting list. I may have the details slightly wrong, it was 15 months ago!
In any case, the property manager said that they look for tenants who are in employment, with good rental history, references etc. I'm certainly very happy with my tenant.
wendywoo
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September 30, 2012 - 9:44 am
Scott, the unit is 6 years old so I imagine the aircon is too. The serviceman who looked at it said the compressor needed replacing but parts are no longer available.
The quote for a replacement states cost of the aircon at $1498, installing 3 metres of pipe $785, and electrical $352.
The PM has said he will ring some other installers and give the details over the phone so they can quote without having to visit.
Think I should make some phone calls myself as well. Surely it shouldn't cost this much.
Thanks for tips everyone.
wendywoo
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September 30, 2012 - 2:45 am
Only a 2 bed unit with living downstairs and 2 beds upstairs. Its a split system, don't think its ducted. The aircon itself is approx $1500 the rest of the cost is in installation and hoses. Yeah, seems steep to me too.
wendywoo
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September 13, 2012 - 9:55 am
Can you claim presents for tenants as a tax deduction?
wendywoo
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September 12, 2012 - 11:49 pm
My understanding and experience of family court law is that once you are divorced and have gone through a property settlement an exspouse has no claim at all on any of your financial matters in the future. So I don't think it's necessary to put assets in a trust for that purpose?
The family law court has a website which might have some information and there is a legal forum aussielegal.com.au which may help although I'm not sure whether the advice given on that forum is from qualified lawyers.
wendywoo
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September 12, 2012 - 8:30 am
I have insurance with them. They were recommended by the property manager. No problems so far.
wendywoo
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August 16, 2012 - 8:33 am
I have emailed the Principals of both REAs and sent copies to the buyer's agent I bought the unit through and the conveyancing lawyer. Within 5 minutes I had been contacted by the buyer's agent and the lawyer who are both keen to follow it up promptly…
I just don't want the lawyer to charge for it and eat up the $500! What would be the point of that. Will sees what happens tomorrow, if nothing will go to consumer affairs.
wendywoo
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August 16, 2012 - 8:33 am
I have emailed the Principals of both REAs and sent copies to the buyer's agent I bought the unit through and the conveyancing lawyer. Within 5 minutes I had been contacted by the buyer's agent and the lawyer who are both keen to follow it up promptly…
I just don't want the lawyer to charge for it and eat up the $500! What would be the point of that. Will sees what happens tomorrow, if nothing will go to consumer affairs.
wendywoo
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August 15, 2012 - 8:22 am
Thanks for advice. Wasn't sure if Consumer Affairs dealt with this sort of thing. Both PMs are just blaming each other. Or occasionally they blame the solicitor who did the settlement. In any case it's not getting resolved by my polite phone calls. Not real happy with either of them. Think I need a 3rd pm. Will try the suggestions and let you know how it goes.
wendywoo
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July 20, 2012 - 11:30 am
Hi Troy,
I know someone who knows someone who has… will find out if they are interested in contacting you and will get back to you
wendywoo
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July 15, 2012 - 2:04 am
Thanks, have thought to check out whether it is all council approved. What is the best way to go about finding out its value and rental demand? Would be hard to value a 7 bed house as not much around of that size? I havent yet seen inside it apart from a few website photos which indicate it is in decent but original condition.
wendywoo
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June 27, 2012 - 8:56 am
Yes I did get PM thanks, have replied
wendywoo
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June 25, 2012 - 9:45 am
I know two good Agents if you would like me to PM you.
.
bfree2live[/quote]
Can you Pm me about the agents please? Thanks
wendywoo
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June 10, 2012 - 1:48 am
Jamie M wrote:
Sounds like the bank is trying to cross collaterise your two properties – there's better ways of approaching this.
I would really like to learn more about how to avoid cross collaterizing. How is it possible, when you need the equity in your PPOR as security for the IP loan? Thanks for info.
wendywoo
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June 9, 2012 - 9:26 am
Thanks Richard, can you suggest which lenders would do 80% on NRAS?
wendywoo
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May 29, 2012 - 8:36 am
Thanks for all those useful comments everyone.
Good point Tracey, I need a strategy and goals but help! not sure what they are!
I would really prefer not to go to an investment company which will charge me several thousand dollars to give me advice that,
with some more research and unbiased advice, I could figure out for myself. Bit wary of those.
What are the questions I should be asking myself to work out more clearly what I want to achieve?
wendywoo
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May 22, 2012 - 7:17 am
not to be rude aussieguy, but you didn't make this distinction obvious in your first post. This is why I hate forums, somehow everytime a newcomer tries to post, other people shoot their comments down. Please be more friendly
wendywoo
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@wendywoo
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May 21, 2012 - 9:56 am
The amount of cash incentive NRAS givesis currently around $9800, not $7486. It is indexed every year.
The lower the price you pay for the NRAS property the better as it is a set amount whatever the house is worth, so $9800 is proportionately better for a $300k property than a $500k one.
Pros of my NRAS property- good tenant who pays rent on time, cash incentive, in a good area where demand is high, brand new so good depreciation.
Cons- I probably won't buy off the plan again as I was paying out for the land and construction loans out of my own pocket while being constructed. According to the NRAS rules I can sell it at any time, but the fine print says I have to give 6 months notice. The fees for the rental management are high – 10% of market rent (not nras rent). As you receive only 75% of market rent, you need to cover a fair whack of the mortgage payments yourself as you don't get the nras incentive back until after tax return done. I needed to organise a tax variation to cope with that.
wendywoo
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March 14, 2012 - 6:46 am
any advice from anyone?