I'd be recommending that the house could be sold (right to assign the property) however the option would remain in place (level of risk but speculative for an investor who is looking at a possible short-term winfall).

god_of_money wrote:
Ryan,the CF+ in Moree is normally cost <100k, and 20% deposit is only 20kMy main concern is the house get burnt down and difficulty in finding 'good' landlord insuranceScott,I don't think the police would like to tell you. There is an area with NO GO ZONE for police. Do you have any IP in Moree?

No but I was involved in…[Read more]

Also remember that if you put the tenant on a commercial lease then you may be able to get all of your outgoings (even if you do it at a lesser net rent considering the way that water & land tax costs will increase over the  next few years).

It depends on the lease that  you put in place. If they sign a residential tenancy agreement then no gst is payable and gst is taken as an input whereas if the lease you sign is a commercial lease agreement, then GST would be able to be charged regardless of the gst status of the tenant (and you being registered for gst).

RH, you NEED THE OWNER'S CONSENT IN ORDER TO GET AN EASEMENT OVER THEIR PROPERTY. Even a tenant with a registered lease has rights over the property that they occupy and if it were a commercial site adjoining, then you would need to get their consent.The creation of an easement over the adjoining neighbour's property can be a problem and probably…[Read more]

The relocation of a house will inevitably result in lots of cracks etc in the finishes, a transport company will exclude this from their contract.The discovery of asbestos is up to you, your building inspection/testing will need to uncover it and negotiate the remedial cost out of the contract price. Unless the asbestos is posing a hazard, then…[Read more]

In the first instance, contact the licensee of the business, they may not know you have an issue with the property manager (unless the PM is the licensee).Discuss the matter with the office of fair trading, they may be able to take action on your behalf on the basis that the PM is incompetent.

The problem is he cannot discharge to the street without creating an easement over the neighbour's property, obviously the neighbour is reluctant (and won't do it for love nor money). The purpose of the pump is to get the water out of the pit (which would be below street level).If the neighbour has an advisor they would advise against creating an…[Read more]

The first stop should be the local cop shop. They know all the good v bad areas and where on the street it changes. The new recruits rent alot of property up there (they get blooded in the area before being sent elsewhere).

A hydraulic engineer will design a solution for you (including the calculations, pump & pipe sizing etc). Pump size will be limited by the flow rate which is permitted by the council – they want a detention tank to slow down the load on their stormwater system not so that you can pump it out as fast as you can.

A special resolution has to be approved by a larger % of the body corporate. Things like that generally occur only whilst the developer still has control over the BC (and post registration of the strata plan). If the owner at the time was compensated for the 'loss' then it just flows with the title. A typicial  example is exclusive use whereby…[Read more]

Before thinking too much, consult your family law solicitor. If you buy her out before there is a judgement made against you for support and division of assets, then you may end up having to compensate your ex twice for the one property. ie buying her share now, and again later when you are judged to have $X in assets and splitting those between…[Read more]

If the rooms are not 'habitable' they may either have low ceiling heights (ie less than 2.4m), be other rooms like hallways, bathrooms, kitchens, laundries, garages etc but not a lounge/dining/bedroom or have inadequate waterproofing to meet the 'habitable' standard eg single brick wall. If the agent is advertising the house as having x bedrooms,…[Read more]

Dreamer, your artichoke is dreaming. That said, it all comes down to the construction detailing. Assuming that you are going to use a standard 10KL tank, you must excavate to suit (about 10-11 m3 of soil), the top/inlet of it needs to be below the lowest point to be drained. (You may be hard pushed to find a 10KL tank which will withstand the…[Read more]

More than likely is that the area has had a special resolution passed granting use of this area to all units. The previous (possibly original owner or developer) may have received some payment for granting this benefit (reduction of area) and subsequent owners have benefitted from a smaller lot size (& price tag).

The ATO will not accept a breakup provided by a builder, a derpreciation schedule must be prepared by a quantity surveyor, a valuer or an accountant.

They will most likely be members of the Australian Institute of Chartered Accountants or the Certified Practising Accountants (not sure if the Aust Society of Accountants still exists, it merged with the CPA I think), the only other one would be the National Institute of Accountants.

I'm a little confused (that's not hard). Do you have one meter for the whole building or several shared meters? Water usage should be split according to your unit entitlement not just 1/11th of the property so that a 3 bedder will pay its share compared against a single bedder.It is not just as simple as saying that you want to have separate…[Read more]

Being in a flood prone area may affect the insurance that you are able to get (but that is another issue). The question of reasonability will revolve around whether you would proceed with the contract If the identified defect with the drainage to the house is rectified/or didn't exist? If you would purchase, then there is little wriggle room. If…[Read more]

It is more than reasonable that the tenant request that the mess made by builders be cleaned up and that they should have been relocated during the works (relates to quiet enjoyment of the premises).  It is legitimate that the body corporate should have made allowance to clean up after the work (a cost that would be borne by the owners).…[Read more]