HI FKPrice, I’m a PM in Qld and own a couple of my own IPs and have LLP insurance. I use a company called MGA Insurance Brokers (Toowong in Brisbane). I find them reasonably priced (approx $215pa) and they do offer discounts for multiple properties (not sure of the discount though).
Always check what policies cover, ie., accidental, malicious…[Read more]
Hi Crashy, sounds to me like you are in Qld? Is that correct? If so, and your lease has expired, they must provide you with two months notice in writing to leave unless previous notices to remedy have been provided for the same breach and then it would be seven days (as long as it is a serious breach).
Therefore, if I were you, I would call the…[Read more]
Hi Donna and everyone else
I have had to claim on several policies for landlords (I’m the PM) and it is only when you do make a claim that you realise what is and what is not covered. IE., just making a claim through CGU and unless damage is malicious (and you can prove it), you are not covered. Example is polished floor boards (new at…[Read more]
I have landord insurance and it costs me approx $200 per property. I does not however cover “rent during vacancy periods” (would be fantastic if it did)!
What it covers are things like malicious & accidental damage ($500 excess per incident); shortfall in rent arrears if a tenant leaves (the amount covered depends on the reason the…[Read more]
In relation to the form used to have your tax reduced for each of your pay periods (if you have an investment property) is called a 221D from the last time I completed one. Hope this helps.
Yasna & Simon
The sensations Sunshine Coast of Qld. Live in Buderim, work in Mooloolaba and people pay to come here!!! Although at the moment you would think it was the Sunshine Coast – weeks and weeks of lashing rain. Doesn’t matter!!
Yasna & Simon
Hello Dr X & Surrey, you both have obviously had some nasty experiences with either PM or landlords. One shouldn’t generalise when it comes to any “group” of profession!
I hope as investors you don’t get a call from a PM (if you are using one) to describe a home that has just been trashed [bike2] or when you look at your statement, you wonder…[Read more]
In Qld, [dead2] you cannot access the tenant’s bond unless the property has been relet or the end of the lease (whichever comes first). At that point, you can work out how much is owing (including rent owing, cost of advertising to relet, any clean up costs and reletting fee.
If the tenant agrees [thumbsupanim] and the whole or part of the bond…[Read more]
Hi Carmen, had a look at this at a time when my mum was thinking of going into one (glad she didn’t). Looking at the fine print (not sure if all retirement villages are the same), there was a clause that when she eventually sold, she had to pay for the unit to be totally renovated and if there was capital growth over the period of holding the…[Read more]
[guitar]We met in pub after midnight, hit if off, three weeks later were living together and 9 years on, the relationship just keeps on getting/staying great. Sounds like we are not the only lucky ones!! Cherish what you have!![drummer]
Yasna & Simon
Hi Marvin, I believe the following to be the case:
Q1) you cannot sublet without the agents, or landlords, approval;
Q2) RTA (1300 366 311) will give you advice, and you could try the REIQ. [gossip]
Q3) Rental agreements [dead2] can be obtained from RTA, I also think you can get them from a post office (used to be able to) or if you have…[Read more]
Property management is a difficult career path – you need to be firm but fair and appease sooo many people. I’ve been doing it for over 8 years and have really enjoyed it. Have got better job offer in same firm so am happy to move on and move away from the unenviable stress. A good business owner understands the need for a great PM and should…[Read more]
I was using Terri Scheer Ins Brokers however have also had some difficulties with claim, ie., $500 excess for accidental or malicious per incident (they claim that cigarette burns in carpet after final inspection indicates that these were individual incidents per room and therefore $500 excess applied for each room). Therefore not worth…[Read more]
Wow!![singer] What a fantastic forum to be involved in and what great positive feed back to someone who needs their confidence restored!
Your all winners out there and I love reading all the posts. Here’s to a positive future.
Yasna & Simon
Greetings from Sunshine Coast, Qld! Rates on the coast here vary greatly. Most reputable and highly thought of PM’s charge 8.5% + GST, 1weeks re-let fee + GST, statement fee of between $5 & $6 +GST and maybe some advertising.
There are some other agencies that are trying to buy business with a fee of 5.5%. I know some investors that…[Read more]
- Load More