I've also heard the Gold Coast market is not great at the moment and a lot of industry emails I've received lately have been noting Hobart's inner suburbs as having some really good buys due to a recent slow market. I'm surprised your agent let you sign the contract of sale on this considering the Gold Coast market, but then again I'm not aware…[Read more]

My apologies for not clarifying – serviced apartments on a commercial lease. No vacancy during the lease period which can be up to 25 years, no cleaning, very small management fees if you choose to have someone manage it for you (they're essentially collecting rent and overseeing the lease).

A usually overlooked option – serviced apartments. They can offer fantastic yields, secure tenants, little to no outgoings (depending on the lease structure) and I've seen some great ones in Melbourne over the past year for under $160,000The down side – very little CG, can be difficult to get finance from some lenders.

Andy – your PM should be communicating clearly what the tenant is requesting and letting you know you options. Despite your unit being rented below market value, a rent reduction would be a reduction from the rented amount stated in the lease agreement due to loss of use of the garage.In future you have two options – to push with the owners to get…[Read more]

Is you apartment also located on the Gold Coast or close surrounds?

NM7,No, it does not cover where the tenant cannot access the globes – the landlord will need to arrange a tradesperson. For example we have a property where there is a light in a stair well that is not accessible so we would arrange a handyman at the cost of the landlord.I can't comment on whether RACV covers light bulbs I don't have any clients…[Read more]

Relying on one industry to support the infrastructure around your investment is a huge risk.  The Maronbah property market is in crisis right now and industry experts have actually black listed the town and recommending clients not to invest there.If the mine has an estimated life of 20-30 years it's a different story, but only if you get in early.

This is a great service! Shivasko, you can never expect a tenant to pay for maintenance so you can't expect a tenant to pay for this cover themselves. We run a 24/7 emergency service for tenants and have for years, it works really well to save owners on re-paying tenants for expensive call out fees as our tradies are really reasonably priced.If…[Read more]

The key is always do your research before listing with an agent.But now you're there, there are a few things you can do:Don't just ask for an inspection register, also ask for feedback as to what the buyers have said about the property. If your agent can't provide any, it's an indication as to whether he has contacted them after the inspections to…[Read more]

Which state is the property located in? If it's in Victoria I can definitely offer some advice on this.The tenants have rented the property in its current condition. Having said that, because the property was rented inclusive of a car space, access to the car space/garage/car port must be functional. First of all, is the driveway common property…[Read more]

Agree with Derek's post, the best way to find out is ask your friends how they did it. If they have an agent, contact the agent to find out  whether they have a connection with a mining company. Be sure to ask if they can prove this though with a contact's name, don't just take their word for it!I may sound biased as I am a property manager…[Read more]

Firstinvestment24,There are multiple developments due for completion in 2014 in Southbank. In my opinion the market will flood with rentals as we saw with the earlier City Rd developments.<moderator: delete advertising>

Hi quattro4,Why not bite the bullet and get a full time property manager? The fees are tax deductible and it takes the hassle out of having investment properties if you go with the right agent. After all, you're too far away to rush over and inspect an urgent repair and how can you be sure you'll have the time to conduct regular inspections? What…[Read more]

v8ghia,On points 1 and 2 I disagree. From experience both working in the industry and selling my own home, you get what you pay for.Agents that cover advertising work on quantity sales, not quality. This means that they rush to sell your property and are generally not looking to achieve the best price and unconditional contracts because they need…[Read more]

Hi Firstinvestment24,The first piece of advice I will give is… you won't achieve that rental. When the building is complete and investors put their apartments on the market, there will be a flood of available properties in the building.  If the apartment is a one bedroom with a car park and a balcony, expect a rental of $400 to $430 per week…[Read more]

I agree that Dandenong, Springvale and Noble Park will pick up in the future especially with the Northern corridor filling quickly and future planning prospects are positive.<moderator: delete advertising>

Thanks for the advice everyone, I'll keep looking. I've found that those looking for the information would rather have it at their fingertips than go to a website and trawl for what they're looking which I find quite strange!

Recently there has been a HUGE shift in demand for Southbank property for lease. Properties in the area are now demanding higher rents than comparable CBD properties.If you have an apartment in a low-rise building, I'm assuming there are less than 20 apartments in the building. This is capital growth gold. When my clients ask what to look for in…[Read more]

Carlton is a great suburb for continuous rental return. Due to its close proximity to Melbourne's CBD and it's strong cafe culture, it's a suburb regularly sought out by tenants. Working as a property manager in Carlton, I've seen first hand the high demand for good quality properties from professional and secure tenants. Whilst the rental market…[Read more]

Hello,Whilst we work in Victoria, I am happy to pass on some general advice:Deposit: whilst you can of course negotiate your deposit amount, it is ultimately the vendor's decision on the deposit amount they will accept. Keep in mind that 10% is a general figure that is likely to ensure security. Interest earned on deposits cannot be kept by a real…[Read more]