Remember you don’t have to agree to move out before your fixed period of the lease expires, you can stay if you want to. Of course, the new owner can give you notice to vacate on the expiry date Feb 17.
Cheers
thecrest

Mystery shopped a local rental agent to find a property to rent. Requested an inspection on a rental property but was told they would be done as an open house for half hour sometime next week. I asked again saying I’m time poor because of the demands of my motel business, but same response, still no action. It would seem they want a process not a…[Read more]

I’d have to agree the above post is inappropriate by Forum standards and guidelines.
Cheers
thecrest

Hi Darkness72.
All very good questions, many of which VCAT could answer, pending the outcome of course.
Give them a call.
They also can provide mediation.
Cheers
thecrest

Hi Picky1.
Welcome to the forum.
Fortunately you have time to plan ahead while running the motel and assessing the market in your area to find your niche.
ABS stats may show the averages in occupancy, revenue and star ratings.
SRA (Star Ratings Australia) can assist with design planning to ensure the final refurbished product reaches the desired…[Read more]

Hi Dave4455
Are you making any progress ?
It’d be great to get an update from you.
Hope it’s going well.
Cheers
thecrest

Assuming the business is viable and not under threat, think 50% LVR and a valuation, and the lender will look closely at the CV of the business operator as well
Will you be operating the business yourself ?
Is the business in good condition ?
ROI ?
Any upside ?

KnightM is right about asking.
In structuring your offer or suggested scenario,…[Read more]

9.67% nett return on $200K investment. hmmm. Free home and Nett income of under $20K ? Is that what you want ?
Cheers
thecrest

Full description of the business would help !!
Pointless talking about selling fur coats to Africans or ice cream to eskimos.
This post looks a bit frivolous unless Rod Smith fleshes it out a bit.
Cheers
thecrest

Roughly what price range are we talking about for a typical 3 brm 1 bathroom house anyone ?
Cheers
thecrest

How could they not be mandatory especially in tropical areas. Ring Fair Trading and ask for advice. They may have a service as in NSW where they contact the agent on your behalf to expedite matters. If they’re mandatory in your area as they should be in my humble opinion, you should be eligible for a rent reduction until they’re installed or even…[Read more]

Hi Dave4455.
Any space to build extra units ? as you already own the land and infrastructure, extra units would be more profitable than the existing ones and would increase the sale price and income for you and the lessee. Small income limits available funds for vital R & M which might create the risk of a tenant running the place down. What have…[Read more]

Any progress David ?
There are some good buys out there at the moment provided you can get finance.
Obviously our new PM has improved business confidence which quickly affects reps visitation to regional areas.
You’re welcome to call me.

Unfortunately in some areas inexperienced moteliers are falling into the trap of discounting , encouraged by…[Read more]

Hi Trung.
Seasonal areas depend on a good season. Snow area businesses in the Mt Beauty area face this every year so they may be a source of info. Check the snowfall charts for the last 50 years, as well as ABS occupancy graphs for your area. Examine the off season figures carefully to see if they could sustain you. 32 rooms + restaurant could do…[Read more]

A good broker doesn’t need to be geographically near you any more than this forum needs to be in your suburb. I suggest the obvious – Choose one from this forum who has been helping people for a long time with lots of posts to their credit and get your enquiry in and enjoy the benefits. Don’t forget to post details of your experience back onto…[Read more]

Hi Leon.
I’m a broker and a motelier, trying to sell my motel and free my time for broking.
Management has provided mixed results. It’s very hard to find the right people who will work hard to maintain and grow the business, and really engage with the guests and provide friendly service all the time without grouching at guests or staff, or…[Read more]

So much infrastructure being constructed around Springfield. Spoke to a valuer in Camira yesterday who told me it’s enjoyed CG of 5% last 6 months. Worth a look.
Good luck
Cheers
thecrest

Not much info to go on but here’s my 2c worth anyway. Newcomers need support groups. Suggest they bake 6 cakes and take them to all neighbours to introduce themselves, including the problem one. That would either confirm their next step or help fix the problem, but either way they would be introduced to the neighbours and likely to have some…[Read more]

Banks have tightened up on lending for motels right now and are demanding up to 2/3 deposit, so it’s a buyer’s market if you can buy within that scenario. Motels are not selling as fast as they should so stock is building up a bit. The last 12-18 months has been less than bright for accommodation providers and some are trying to sell based on a…[Read more]