Sounds like Shangri-la.
That was a nice movie.Maybe I’ve missed something in trying to quickly read all the volume of your posts.
Cheers
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What I can decipher, he wants 30% of people living on the street, and only people earning a salary should be able to rent a house, and they should be your spouse . And that somehow, relationships need to be managed.
Jins13 wrote:I think good agents are worth their weight in gold. Besides, with your theory that you should look after all your affairs would mean that if you invested in other states or distance areas, you would have to personally go there for the inspection and etc.If you will read my theory in more detail as in the posts above you will understand this not to be the case. The primary relationship of the tenant employs the tenant and deducts the rent from the tenants salary before it is paid every fortnight. Also the primary relationship does the inspections on the tenant for you, the homeowner.
Remember the role of the primary relationship is to be somebody the tenant is to maintain the respect of in order to maintain its
position in the world. So the tenant will be required to gain and maintain this respect by keeping things tidy and in order for the primary relationship.
Additionally the primary relationship has the power to reduce the income of the tenant if it seems to be misbehaving as it is also
the employer on the tenant.For example- If you have a IP in the states and the tenant in your house works at Wallmart. The primary relationship would be a
represantive from Walmart who is actually the boss of this person bound by law not to disclose information about this person to
others in order to maintain the privacy of the tenant. Next you will make arrangments which would include a contract with Wallmart
that your tenants work income of $35,000 would be subtracted an amount of $15,000 for the rent which would go directly to you and bypass the tenant. So the tenant would be paid a salary of $20,000 only and not have to pay any rent from this. I am not sure
how taxation would be calculated into all this but it is the basic idea and the end result is a requirement for you the homeowner not
to have to manage a relationship with any agents or tenants yourself. The whole IP is simply numbers on a peice of paper no different to having money in the bank and also the tenant is more able to manage its own cashflow as it knows that it does not have to manage to budget to pay the rent but rather only budget for other bills.As a result you are able to rent properties to people without having to manage relationships with Agents or Tenants fullstop and once people are employed by their primary relationships there is NOTHING stopping you guys from doing the same thing in Australia.
Istvan .. nice thoughts but obviously you've never dealt in the real world before.
Out of every 30 tenancies i have .. there is a consistant 2 that will be bad. Either they are discovered to be bad immediately and terminated as soon as possible .. or they hide it well and are discovered to be poor tenancies at a later date.
Tenants dont need a 'body of govenance' outside of what they do. They dont need a government entity monitoring their behaviour. Thats taking their basic responsibility out of their control. They SHOULD have that degree of control .. but most of them dont.
Australian tenancy law is actually pretty good. Its slightly more toward the tenant than the landlord but thats a good way to keep the landlords on their toes and making sure the tenancies they get pull their weight. We also have a poor tenancy register. So it remains within the best interests of the tenant to do the right thing or they dont get further accomodation easily.
Is it good? I have tenancies who coming from landlord biased countries .. who are so scared of the possibility the landlord might just get a spur of the moment decision and evict them .. that they WONT REPORT PROBLEMS. They sit there with leaking taps and mould and non flushing toilets and flyscreens that need repair. And they dont complain because they are so scared of being chucked out. Thats not a real issue. But for them it remains so. Thats what happens in landlord biased countries.
Then you have the USA .. where the tenancies are so poorly regulated by laws .. the tenants can and DO get away with murder. Anything from breakage to stripping the places down for parts. Criminal offences yes .. but try catching them.
The tenant doesnt need a watchdog. It might sound like a simple and subtle strategy but power begets corruption .. and an overseer can exploit that relationship for his needs. Thats unacceptable. You may not see it because you imply a trust relationship. As i said before .. a trust relationship is an enigma not a reliability. For the tenants own freedom .. he doesnt want that.
The existing situation remains convenient and impartial. It doesnt need a 'brand new solution' to fix problems its already solved.
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