Getting rid of the tub would reduce its rentability – 1/2 the population is female, many 2 bedders are sought after for small families etc. Look at what is available in electric instantaneous hws. The second bathroom would be great as it does provide an added feature compared to the traditional older style 2 bed units.What are the chances of…[Read more]

Alternatively, if you were to exercise your option it would be at the agreed price – you can't have your cake and eat it.

The selling point is proximity to the beach, not the view. Hammer the lack of covenant, distant views are almost worthless.

Oh, you mean 11/9 not 9/11!

If it were in Sydney I'd suggest Tim Green Commercial, in Melbourne, you'd be looking at one of the more boutique *(smaller) commercial agencies. There are a few commercial websites: commercialproperty.com.au and others.

Next step, sue for specific performance. Speak to your solicitor as this is now in the realms of breach of contract.

If you have signed an exclusive agent letting/management agreement then it is just that, the agent pockets the fee regardless of who finds a tenant ( you may have to pay another agent the fee as well if they find one before the exclusive agent did). This is the most common type of residential agent agreement.If the agent does not have exclusivity…[Read more]

As it is your PPOR it is generally exempt from cgt – the only thing you need to watch is whether there is a limit on the time between purchase and moving in which may trigger some cgt liability.

What happened on the 9th of November & what year?

1 – it is the vendor's contract, as such there are no penalties which can be imposed on the vendor.2 – see 13 – this could be possible if the property is vacantHave your solicitor serve a notice to complete ASAP, that is the only power you have to force them to settle.

The answer is a yes, no and maybe.If you have bills to prove that you were living in the residence for the first 2 months (ie water, rates & power) coupled with not having claimed any other place as your PPOR then it may be possible that you could get away with it.If you have any other PPOR during this time, then this property will have ceased t…[Read more]

Take last year's tax return, proof of employment (2 recent payslips), 100 points proof of identification (Drivers licence, credit card, medicare card, passport etc)

Generally speaking, as all of the work was done prior to renting the property out for the first time, it would most likely be 'capital works' as opposed to maintenance. As such, he would only get away with depreciating their cost not writing off major sums eg replace burnt out clothes dryer during the term of a tenancy.

Purchase costs must be capitalised (wiping out about half of your claim).Then it becomes a case of how you then become liable for a proportion of the CGT on the eventual sale. How do you take into account other items such as utilities?

Heating isn't the only issue in Melbourne, there are also some lovely 40 deg days as well. It may be worth considering installing 2 or 3 split system reverse cycle air conditioning units or a few window rattlers (lounge/dining and bedroom rooms) – depending upon your layout you may be able to get away with some shared cooling between the rooms or…[Read more]

The required information is contained in the Building Code of Australia – finding the information may not be as simple as looking for 'fire separation of duplexes' as you will need to follow the process of building category, rise in storeys, form of construction etc.There may be some state variations between requirements however these will…[Read more]

If your parents are looking to move out into a unit in a few years, it may not be the most pertinent thing to pay off the loan quickly but rather put the additional money into an offset account (to be able to take the money as a deposit on the unit as well as to be able to claim the cost of interest on the rental property) – speak to your fin…[Read more]

Do you intend living in the house or is it an investment? Are you going to be claiming the FHOB grant? Do your parents have the benefit of a fixed interest/lower interest rate loan?

There are plenty of threads on this website. Also google Spiro Kladis – that's always intersting.

It will depend if you want an easy out – what you have highlighted won't give you any recourse. The building inspection will highlight the issues or potential issues so you will need to frame your 'out clause' to cover the unsatisfactory outcome of such an inspection eg: 'building defects not disclosed by the vendor or obvious to the purchaser and…[Read more]