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  • Profile photo of Scott No MatesScott No Mates
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    June 13, 2011 - 8:37 am

    So am I right in my understanding that, in a nutshell – the trust is just a way of separating some assets from others & doesn’t provide any protection if the owner/trustee of that asset is sued. The trust can still lose the asset. If I have 3 Properties in the trust, they are all at risk but if they were in independent trusts they would be quarantined.

    Profile photo of Scott No MatesScott No Mates
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    June 12, 2011 - 11:42 pm

    as above, anyone can manage a property for themselves but when it is not your property, the government has stepped in to prevent unscrupulous operators ripping off owners or preying on tenants. Penalties do apply, regardless of whether or not you collect the rent, sign the lease etc.

    For the pittance it costs the owner, they get a receipt & tax deduction. If you do it for cash or for nothing, there is no tax deduction & you are getting short-changed.

    Profile photo of Scott No MatesScott No Mates
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    June 12, 2011 - 11:26 pm

    If it touches the ceiling, the building code of australia calls it a wall. If it is a wall, you require a DA. If you have to get a DA, you will need body corporate consent.

    Do you want the liability of having extended a path of travel in the event of an inquest?

    Profile photo of Scott No MatesScott No Mates
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    June 12, 2011 - 3:11 am

    you can always put a dogleg into the wall.

    Profile photo of Scott No MatesScott No Mates
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    June 12, 2011 - 3:09 am

    Generally if the work involves the penetration of the building fabric ie the common property (this includes drilling into walls/ceiling/floor) or the work requires development approval by council (eg erection of a wall or exceed certain expenditure), then you will require BC consent.

    Profile photo of Scott No MatesScott No Mates
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    June 11, 2011 - 8:06 am

    As a reasonable fall back position, I am using
    http://www.onthehouse.com.au

    But I will possibly take up the free CMA on rpdata

    Profile photo of Scott No MatesScott No Mates
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    June 10, 2011 - 1:08 pm

    you could probably come to some arrangement if you express how frustrated you are with the agent & you might walk.

    Profile photo of Scott No MatesScott No Mates
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    June 10, 2011 - 9:27 am

    no issues at all – you usually give 30 days notice

    Profile photo of Scott No MatesScott No Mates
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    June 10, 2011 - 8:44 am

    have the pm officially notify breach of lease for overdue rent. Seek quick hearing @ vcat. Continue seeking a replacement tenant.

    What is contained in the victorian lease regarding break?

    Profile photo of Scott No MatesScott No Mates
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    June 10, 2011 - 1:40 am

    Thx Paul, I just didn’t have access to the PSBA for the quote.

    Profile photo of Scott No MatesScott No Mates
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    June 9, 2011 - 12:06 pm

    it’d be degrading to ask a lawyer to fill out a tenancy form. It is downloadable from the net & so simple a property manager can do it.

    Profile photo of Scott No MatesScott No Mates
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    June 9, 2011 - 9:49 am

    Silence = something to hide.

    Ask to see agency references & check them. I have heard that some agents fake them so check them thoroughly ie ask for long term clients, dissatisfied clients & the tenant as well.

    Profile photo of Scott No MatesScott No Mates
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    June 9, 2011 - 9:38 am

    A full real estate license is required unless you are working under someone else’s corporate license.

    Profile photo of Scott No MatesScott No Mates
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    June 9, 2011 - 9:35 am

    Whilst you’ve got the income, you should still consider salary sacrifice as this is taxed at only 15% not your marginal rate.

    Why lose an additional 30%+?

    Profile photo of Scott No MatesScott No Mates
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    June 9, 2011 - 9:31 am

    I’d be pulling the covenant apart – either a town planner/lawyer/surveyor to advise on the type of development which would comply with the LEP & get around the covenant.

    How many years until the covenant expires? Your DA should run for 5 years.

    Does it run from the date of purchase or date of subdivision?

    Profile photo of Scott No MatesScott No Mates
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    June 9, 2011 - 9:20 am

    Silly question: if your income is so good & low expenses, why only $10k savings?

    Consider starting a smsf & put $25k each before end of june as well as your existing super. Watch that you don’t exceed your cap between employer & own salary sacrifice contributions. Not only will income in the smsf be taxed @ 15% compared to your current rate capital gains are lower as well. Get your super working for you. A couple of cf +ve properties will help.

    Profile photo of Scott No MatesScott No Mates
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    June 8, 2011 - 12:14 pm

    in a standard residential lease, there is no demolition clause. The tenant is entitled to ‘quiet enjoyment’.

    If the garage fell over due to disrepair, it could be considered loss of amenity but wilful destruction would breach the lease.

    Wait until the lease nears expiry & either serve notice or negotiate a new lease acknowledging the works.

    Profile photo of Scott No MatesScott No Mates
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    June 8, 2011 - 10:55 am

    see comments under carpark in the General Forum

    Profile photo of Scott No MatesScott No Mates
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    June 8, 2011 - 8:49 am

    have a look at your lease. Generally, if you have given notice, are within the last 30/60 days of your lease etc the owner has the right to relet the premises. They do not need your consent.

    Profile photo of Scott No MatesScott No Mates
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    June 7, 2011 - 11:40 am

    If the logic behind the carbon tax is to change our behaviour when it comes to consumption, it fails on 2 counts: it provides compensation to industries & consumers, it does not provide incentives to move toward low emission technology or alternative power. Manufacturing can still use oodles of power & pass on the cost to consumers eg aluminum products use heaps of power but will still be widely used.

    Will green power cost less if traditionally produced power is affected by the carbon tax?

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