All Topics / General Property / getting a property rental through housing nsw

Viewing 6 posts - 1 through 6 (of 6 total)
  • Profile photo of ajayayyarajayayyar
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    @ajayayyar
    Join Date: 2005
    Post Count: 176

    Hi all – is there anything 'bad' or negative to get an investment property rented to a tenant through housing NSW?
    let me know your thoughts.  I'm not sure if someone has experience doing this.

    I udnerstand that housign NSW doesn't charge any fees to the landlord and will find a tenant …

    thanks
    ajay

    Profile photo of xdrewxdrew
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    @xdrew
    Join Date: 2010
    Post Count: 479

    ajay … all i can say with taking on housing NSW is good luck.

    My cousin had a house in Ballarat lent out to housing commission tenants. Now there came a call saying the housing commission had decided to remove the tenants from the house because it was 'deemed unliveable' and therefore could be slated for demolition. As you might guess my cousin was horrified ! Apparently the tenants had decided they wanted a smaller property in a better area, and went to the trouble of actually destroying large sections of the property to get the possibility to get another one! After getting a housing inspector in to actually assess the damage .. he said it wasnt to be condemned .. it just needed a bit of repairs. But they actually went to the trouble of punching in walls and smashing skylights to make their point. It took a couple of thousand in costly repairs .. but it was repaired and then resold.

    Yes its a horror story, maybe its only a certain group that has that level of contempt. But, if you feel that you are better with a barebones tenant rather than none .. i wish you more luck.

    Profile photo of Mick CMick C
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    @shape
    Join Date: 2010
    Post Count: 1,099

    depending on the area you get…

    Spoke to a insurance broker last year and he had a case where the tenant was not given his 1st preference of place to live in so he burnt the home down..so that he could get his 1st preference ….

    All i could say- i will think twice abt buying NEAR a depart housing…and in regards to buying one or renting one out- no chance.

    Regards
    Michael

    Mick C | Shape Home Loans
    http://www.shapehomeloans.com.au/
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    Same Banks. Better Rates. Served With a Passion.

    Profile photo of Jamie MooreJamie Moore
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    @jamie-m
    Join Date: 2010
    Post Count: 5,069

    Hi Ajay

    I haven’t had direct experience in this.

    Personally, I’d be reluctant to go down this path in order to save some dollars on property management fees. I’d prefer to pay a local property manager who has their reputation on the line rather than hand it over to a large bureaucracy that probably doesn’t give two hoots about your property.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
    http://www.passgo.com.au
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    Mortgage Broker assisting clients Australia wide Email: [email protected]

    Profile photo of ajayayyarajayayyar
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    @ajayayyar
    Join Date: 2005
    Post Count: 176

    Hi all thanks for the info. 
    I actually called housing nsw in the area i bought and they mentioned that after the lease with a tenant expires that they will return the house to the landlord in its original state, minus any wear+tear.  so i guess that may be a way to avoid any damage… any further thoughts on if that is a reasonable way to think?

    Profile photo of Mick CMick C
    Participant
    @shape
    Join Date: 2010
    Post Count: 1,099

    It’s true that will fix any dmg to the property minus the wear and tear. But trust me they take a LONG time to fix!! i know departmental of housing NSW have contract with certain company and tradies ( group discount) and they are slow…i know of a house that was unlivable for a good 2 month before the repairs were done….that’s 2 month worth of rent and mortgage repayments :(

    Regards
    Michael

    Mick C | Shape Home Loans
    http://www.shapehomeloans.com.au/
    Email Me | Phone Me

    Same Banks. Better Rates. Served With a Passion.

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