If they want an agent to get a tenant to replace them, they will need to sign an agency agreement with the current agent (if there is a managing agent). If they don't, then no-one is going to spend money on finding a new tenant.

Unfortunately there is no easy way out – the lease is 12 months and the parties are bound to a $20,280 contract. The obligation on your parents is to pay until they find someone to take over the lease, and then make up for any difference if they can't achieve the same rent as well as all advertising costs, lease preparation, agent's…[Read more]

make sure that any provisional sums will be sufficient to cover the works eg an allowance of $500 will not get you 2 decent toilets, where possible nominate all of  these fittings eg Kohler model XYZ toilet so the builder can price the items.

I'd agree with Terry, pay your excess (probably will be able to claim it as a cost anyway), and let the insurers chase the person(s) responsible – they can't/won't go the tenant unless your tenant's friend was living in the place.

Don, they are houses so you will need to review all of the house sales stats and extract the semis (see comment #1), put them in an excel spreadsheet and calculate your own metrics.

It all depends on several factors:a) Do you own the units or have you taken on the management? If you are managing them on behalf of another ie acting as the booking agent, then you MUST be licenced to do so.b) What size are the units? ie studio/1 bed/2 bed/sleep 10 etc? However a minimum charge would be based on how much time it would take to…[Read more]

Not sure if the unit is 49 or 61 m2 but even as an older style unit it may be a little small as 2 bedrooms – studios are less than 50m2 and by modern standards 65-70m2 would be a one bedder, just be aware that the size is rather small (and reflected in the price). Return seems ok at over 5% however you should check whether the tenant is on a lease…[Read more]

Can you advise which state, what class of property (comm/ind/retail) and what is a 3 plex?

They are not tracked individually so you will need to get a suburb-wide printout over a period of 5-7 years (or longer) and search out the resales.

A good looking outcome.

Unfortunately there is no easy way – they are listed under houses (as they are houses). You may need to use google maps or whatever to view the exterior or do a lot of driving around.

This process is called a sale by tender or EOI. I recently saw one with best offer over $700k. It went to negotiation with all of the parties who submitted an offer. Selling for $750k within a week.

The interest on equity taken from your IP cannot be used as a tax deduction as it is not being borrowed for income generating purposes. It may be more beneficial for you to move into the IP and redraw the equity for the new property using it as an IP.

Any representation that you make may be used against you unless you have some documentary evidence to back up  anything you say eg: pest treatment certificates for say termites or borers or an occupancy certificate from council ie not work pointing back to yourselves. However many timbers show some signs of insect damage – it is a natural product…[Read more]

Two schools of thought: 1: you paid $4500 for the ac unit and depreciate that over its life, declare the insurance payout as income and write off the old unit or 2: claim depreciation on the net cost of replacement and write off the old unit.Likewise with the hws – if you paid $1500 after the rebate, is there really a difference between this…[Read more]

Yes, otherwise you have no idea who put the money into your account.

When they do the direct deposits either have 3 different bank accounts (a pain) or instruct them to put their name on the transfer so you can identify the payment (spin some story that you have several payments of that amount going into your account and you run the risk of crediting the wrong tenant).

Your other option is to ask your financier who should have those numbers on tap.

Often frontage is not an issue but you will need to refer to the Council's LEP to determine if there is a minimum lot size and a minimum frontage. This may vary throughout the municipality.

There are plenty of sites available eg Domain.com.au which will direct you to the home price guide. Other sites include whatpricemyhome.com.au etc – just google a few (they all get some details from you and must pass details on to local agents (which isn't all that bad, at least they know that you are looking).Other sources include your local REA…[Read more]