Forum Replies Created
[singer] You certainly can! No matter how old there is always something new to learn to help get through current trends and to be open to whats happening around you.
Q: If you won a competition which allowed you to have lunch with 3 people you have never met (living), who would you choose, why and where would you go?
Yasna & Simon
Hi all, what a great topic and fantastic to be around such positive contributors.
For what it’s worth – I believe it is a good time to be buying, so long as you can find a property which will help you achieve your end goals.
With interest rates set to rise, it is unfortunate to know that due to cashing in on their equity, quite a few people will begin to hurt and with further rate rises, I feel there will be some desperate vendors wanting to get out of their problems. IMO it will be then that there could be some good deals coming our way. [dead2]
Yasna & Simon
Hi unannounced
Don’t have any good information for you however thought I’d let you know there are people out here on the forum having a read. I too am looking for info on industrial property and if I find out anything worthwhile, will let you know. Bye for now, [gossip]
Yasna & Simon
Hi Ian
I agree in that I believe the market has definately changed! Agents now have to get out and seek business rather than waiting for it to come to them (as they were doing whilst the market was booming)!
The upshot of this is that we have turned the circle and are now in a buyers market (except for waterfront/prestige property). There is more now available for sale, it is sitting around for longer, vendors are much more negotiable and with interest rates set to increase very soon, then I feel, we as investors, will have a lot more choice.
With so many real estate agents doing the same thing when it comes to marketing, it does get a bit frustrating to receive the various flyers however it is certainly a great way to keep in touch with what is happening with prices in your area or where your IP is.
[dead2]
Yasna & Simon
Hi Jason, I too live on the SSC (aren’t we lucky). I am involved in holiday rentals and unless you want to use the property yourself from time to time would say there is no guarantee on return. The “peak” times seem to be getting smaller (fewer weeks) and the fees/charges to manage are much higher than for permanent rentals.
As mentioned by other forumers, the capital gain over the last 3 years or so has been amazing and I guess you need to figure out if there is a lot more movement there.
Sunshine Beach is a great spot for holidaying however the tariffs that are asked on some of the properties seem to be extremely high.
Remember from a holiday point of view, you have to pay for the electricity, lawn/garden maintenance (whether its let or not),cleaning costs (which are built into the tariff), linen (if applicable), usually an advertising levy, credit card levy, as well of management fees of approx 12.5%.
Sorry don’t like to be negative however it is important to know EXACTLY what you are up for.
If you are putting in quite a bit of your own $$$ then the outcome could be quite different.
If you have any more questions on holiday lettings, just PM me. Ta and bye for now
Yasna & Simon
Hi Sheva, haven’t tried this however live on the Sunshine Coast myself. What area of SSC is the property? Maybe if you do a search on the forum, you may get some info.
[daisy]
Yasna & Simon
Bought and received on line and have had no troubles at all. Just need to get going on it. Hope you have sorted things out.
Yasna & Simon
In Qld I think this can be construed as “secret commission” over and above what he was paid and deserved to be paid. The Office of Fair Trading could well ask him to cough up the $5k in penalties. He would need to be very careful!
[bike2]
Yasna & Simon
I’m on the Sunshine Coast of Qld (fantastic place to live!) and the fees vary greatly – anywhere from 6.5% to 8.5%.
It appears the more experienced and better respected charge 8.5% with a statement fee and one week’s rent as letting fee + advertising all extras.
there are definately a lot of “monkeys” out there so paying peanuts is generally not recommended. An extra 1% or so is not a great amount when you have an investment worth hundreds of thousands of dollars being managed for you.
Good luck
Yasna & Simon
Hi Boris
Do you have a management agreement with your existing property manager? Somewhere it will set out the time frame for terminating the agreement. If there has been some serious breach, ie., they have stuffed up badly, then my advice would be to instigate the termination immediately and collect keys if you wish to manage yourself.
I agree with Sharon though, the various residential tenancies acts can be a minefield and you can come quite unstuck!! Identifying a great property manager is essential.
Good luck[whip]
Yasna & Simon
Thanks for that Byronet
There appears to be alot to consider when looking at this possible venture. Will keep trying to solve this problem! Thanks for your response.
Yasna & Simon
Hi Abbi & all those living on Sunshine Coast, Qld and northern Brissy suburbs.
Networking is a great way to keep up the motivation by talking to people who are positive and working towards similar type goals.
Count us in and if I can help, then will certainly try given we both work full time but can always make time to try and do something now to work less later!!!
Pl keep in touch.
Yasna & Simon
Thanks all for your input. There is definately a lot to consider and a think for newbies it might be best to look at other options at this stage.
I shall find out if we can subdivide and then maybe look at costs, etc. of portable homes or some type housing as there is a nil vacancy rate with people screaming for accommodation.
Trying to keep thinking outside the square and find a solution to a problem.
Appreciate yourfeedback and will keep crunching numbers.
Bye for now [biggrin]
Yasna & Simon
Hi Karl & Rita
I’m a PM in Qld and agree that if they are not doing the job properly I would advise am taking business to other agent and one who gets suitable application, vetted by you, will get the management. Nothing they can do about this.
Regards, Yasna
Yasna & Simon
I think it is obvious we should all give (if we can) anything to assist the Tsunami Relief. However my objection is that we need let everyone know that we have done it.
I am sure that we all have given in our own way to the charity we believe will help the most without posting it on this or any other forum.
Keep up the great work.
Yasna
I would suggest speaking to the principal of the office to lodge a complaint and see what sort of response you get. Also speak to the Real Estate Institute of Vic and if they are a member, you can make a complaint and ask what recourse you have.
If you have a property with a property manager and they are not “doing their job” then I would just write of letter of termination, effective immediately and arrange for someone else to pick up keys, etc for you.
Have you seen that property – is it in good condition after the last tenants left?
Hope that helps.
Yasna
Hi Groova
It is worthwhile having a look at, particularly in Qld, at the Residential Tenancy Authorities Website (RTA) which shows median rentals, I think the site is http://www.rta.qld.gov.au – see if that helps. Also the local real estate institutes may be able to help with some info.
Good luck
Yasna
Hi Karl & Rita
The PAMD Form 20a comes in two parts – pages 1 – 3 just give the agent authority to provide details of your property to prospective tenants as well on page 2 at item 4.2 the notice period required to terminate the agreement. This must be signed by all parties.
The second section, pages 4 – 10 are the actual management agreement setting out fees and charges and what each party is obligated to do as well as how to terminate the agreement. This also needs to be signed.
Do you know if there is a low vacancy rate in the area or is the rental market slow? The PAMD is a Qld Act, so I assume your property is somewhere in Qld.
Is the property overpriced or does it need some work to fix a problem or to present it better?
If just part one of the PAMD is signed, then yes you can ask other agents to help. If both parts signed, I would speak to the PM to advise this is causing you hardship and that you have asked others to try to find you a tenant and the one who gets the tenant will get the management. I am sure this would not be a problem but follow up your conversation in writing, via an email and ask them to acknowledge same.
Hope this helps
Yasna
Hello all, my first posting![biggrin]
I am a PM of a lot of years experience and my advice would be to terminate the agreement immediately as an agent has an obligation and a duty of care under the code of conduct to do everyting in their power to find you a suitable tenant is the shortest possible time!
You have indicated that another agent has mentioned that they could find you a tenant straight away. Find out if the vacany rate is still low, the rent you are asking is current for the market or is there some problem with the property (the agent may not have stipulated) which is holding it back from being rented.
If I had a landlord who was so upset with me, then I would advise them to come and pick up the keys so as not to cause any more bad will.
I am sure the agent will not want to make any more bad vibes in pursing commission, etc.
I am not condoning changing agents or terminating agreements willy nilly! However if you are not being looked after, the agent is not doing their job as is required under the (in Qld) PAMD Act.
As is the case in the area I work, I would then approach a couple of higher profile agents in your area and advise that the first agent to find you a suitable tenant at the right rent, will receive the management.
Hope this helps!
