Just thoguht I'd give everyone an update.  Got a call from the agent this morning who stated they would not be looking after properties in that location anymore, so I have 14 days to sort out the management.  They say it is because they cannot perform the services requested by the landlords?? Sometimes I wonder if it would be easier to do it m…[Read more]

Zig,I owned one with a fairly new pool for about 5 years until last year.  We had 3 different tenants in that time and for 2 we had a pool guy come in once a month and a pool lesson for the tenant when they first moved in.  We paid for this but we built it in the cost of rental.  We also only paid for the maintenance – not the chemi…[Read more]

Tammy,Does that mean if you have a 12 month settlement, you pay stamp duty 9 months prior to settlement? If this is the case and you don't settle, can you get a refund.JL

World Changer,Thanks for your comments.  An update.  The agent has served the notice to vacate to the tenant.  The tenant had actually paid rent, the PM had just inputted it incorrectly in the computer.  So rent is up to date.  I have a very understanding tenant who is loyal to the PM company, therefore, I have renegotiated the terms between myse…[Read more]

Congratualtions Aimmee!JL

Trakka, Linar,I agree with what your saying, and think  that it is a great wealth creation tool.  Imagine life without anything less than 20% down.  But from a business point of veiw, I doubt that many people would be turned off by not getting a refund (as you said, nice bonus).  I wonder if this practise will continue as times get tougher and…[Read more]

Lisa,Nice place, well done.JL

Trakka,If you did not get the refund, would you still invest the way you do with minimal deposits paying LMI?JL

Trakka, I thank you for your feedback.  This is what I am wanting because I am obviously emotionally involved in the money side of things.  All that you say makes sense, and I guess now I will wait until they call on Tuesday armed with some new thoughts.  I did tell the girl who rang me yesterday that I do not blame her for what has occurred, I ju…[Read more]

Trakka,What I'm getting at is why the company's would give you a refund at all.  I understand the agruement from a consumer point of veiw, but because the market is so limited, competition is not really a factor.  Buisiness will occur anyway, if you give refunds or not.  So why would they offer  refunds, or portional ones.Is it  more of a good…[Read more]

Linar,What is the point of them giving you a refund.  What benefit do they get? It's been a long time since I have used it, but why would the company do this unless it is in there policy as a selling point.  I thought that most insurance was taken through the bank, the customer just paid for the banks preferred insurer.  Do you purchase your own…[Read more]

Steve and others,It still does not make sense to me for a bank or lending institution to give a refund no matter when the loan is paid out.  I don't understand why any company would unless legislation stipulates that it is to be refunded.  JL

Trakka,Funny you should write this because after my last post the agent called again to ask more questions because they have decided to send someone there on Tuesday to find out what the story is.  They were really good about it.  I assume they have thought about the position I have been placed in and are now wanting to help remedy it for me, or l…[Read more]

Richard,Does that mean it is a bank charge or do the banks engage a third party?  And when you pay out the loan, are you entitled to a refund no matter what, or only a portion?JL

Chris,My understanding of LMI is that the banks pay an indepedant 3rd party for the insurance, it's not a fee, therefore I doubt it very much.  Ask your bank though, can't hurt.  JL

Thanks Nicole,I'll keep you posted.JL

Xenia,It's really hard to tell because it is in such a small market.  The agency I went through has 7 properties and I have found another that services the area which has11.  The agent I bought it through thinks the rental value should have been 25% higher, but they do not deal with rentals in the area.  I am unsure in such a small market on ho…[Read more]

Rang Dept of fair trading today.  They told me I can't do a thing because I had a verbal agreement for them to lease the property, even if they did lease it below market value and below my request.  The agency has not returned my calls and now I don;t know how to chase missing rent?  I have no lease documents.  Anyone have any other ideas?JL

Lucky,Can't you take this sort of thing for approval at any council within the state.  Maybe try another council.  Others may be able to clarify this, but I am sure this is the case, just not often done.  Kind Regards,JL

Check this out:Just received a call from agent.  They will not deal with me anymore unless they have a signed authority.  I guess they are making my 'dob in' option easy.  This is not all.  Tenant moved in and is now 3 weeks behind in rent.  I would change agents to sort it out, but i do not know of any other agent who services the area.  I guess…[Read more]