As I am new to the game need some advice on several matters. If anyone has time to reply would appreciate it.
1. Insurance. Who are the companies sympathetic to people owning several properties. Do you use the same company or shop around. Is there a Landlord policy.Anyone prepared to recommend.
2. Garden maintainence. Given that we will be buying properties long distances from where we live is it best to find a local lawnmower dude and pay ??? What is reasonable.
3. What is the norm for Property managers commissions out there at the moment. In small country towns where there may be only one agent are we at there mercy or can we still negotiate.
4. Finance. Recommendations. Are ther any fee free bank accounts out there to process income and expenses on the property. Is it best to keep them stand alone.
Thats probably enough for the moment.[
]I will have a crack at some of these.
Insurance. Landlords insurance is available and I am not aware of people having an advantage or disadvantage by owning more than one property.
Garden maint. Should be the tenants responsibity. If you think it may be a problem you could try to offer it at a higher rent with the maint thrown in. This often attracts tenants in itself.
Everything is negotiable – esp if you have multiple properties to be managed.
I recommend you find a finance broker to do your research. There are lenders who will give you a pro package which includes fee free accounts. This sounds like what you are after.
Good luck,
Simon Macks
Mortgage Hunter
[email protected]
0425 228 985Hi Gocats
Agent fees usually 7 or 8% for 1 property. i’d rather chase a good manager and pay an extra $2 per week than look for athe cheapest, if they do a good job they can be worth there weight….Re the finance
a challenge to all you Brokers, can you beat this deal on finance. i don’t get return calls when i ask them to call me if they can beat this.
No establishment fees
No valuation fees
No monthly account fees
a standard variable rate of 5.65%
All available at http://www.homepath.com.au
sure they are slow and incompetant (a lot of the time) but i’ll put up with this for their great product.
regards westan
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