Recent content by jennyn

A few years ago the common laundry flooded and caused damage to 2 units next to the laundry in my building (before I bought my unit there). The owners claimed on insurance but one person had to pay an excess. She had been trying to get the body corp to reimburse her for the excess with no...

Have they paid a bond? I wouldn't have let them move in until they'd paid some rent in advance even if you are giving them 2 weeks free. If I gave tenants 2 weeks free I would put it at the last 2 weeks of the lease. I would get rid of them! They sound like trouble. I had tenants like this...

I've been with my PM for 2 years and only had one new tenant in my IP for that time. Last October my PM's agency was sold and I had to sign a new agency agreement. Yesterday with no explanation I received a copy of the agreement I had signed in October. When I looked at it, clause F...

Thanks everyone for your replies, especially Kristine. Peter Tersteeg who replied is my broker, lol! :) I didn't know he was on the forum. I was asking because I'm not sure yet if I can get finance for properties over 5 acres but will be contacting Peter about it before I go down next week.

I'm going to look at properties next week. I've never written an offer before, my other 2 were verbal. I want to put subject to finance in it. I've spoken to a broker and it looks good but if I can't get finance for some reason, does the "subject to finance" part cover me so I'm not committed...

I don't have a car and I don't think Mum would be able to lend me her car because she'd need it while I was away plus it would be a very long drive for one person so it would probably take me 3 days to get there by hire car! Plus I need to sort out finance which it might be better to do this...

I hadn't thought about a buyer's agent which is a good idea. It's not in a major city although not far from one. I would have to inspect it myself before I bought it because it would be for me to live in. Will search for buyer's agents next.

I'm interested in an out of state property that I saw on an agency's website, however I can't get a flight there for the next 11 days. I've already rung and made initial inquiries about it. I'm also interested in a few other houses in the area that I plan to inspect while I'm down there. So...

Thanks very much, Nick

Me again! :-) When I rang PM on 9/1/06 I asked when the lease expired as tenant moved in in January '05 and I hadn't heard anything from PM. She looked it up on the computer and said it expired in JULY '05! I realise part of it's my fault as I didn't keep track of when the lease expired...

About 2 weeks before Xmas PM told me tenant said kitchen light fitting was broken. I said to fix it ASAP. On 9 January after body corp meeting I rang PM and asked her to get a smoke alarm installed. She said handyman should do it in 1-2 weeks. No mention was made of kitchen light. Today...

Sorry to ask a stupid question but can someone tell me what hard wiring a smoke alarm means please? I have to get an alarm for my unit which has concrete ceilings so you can't screw one in so I was going to get a stick on one until I read the smoke alarm post here. Jenny

Here are all my figures to work out my CGT. Purchase price: 89,000 stamp duty: 1,800 conveyancing: 1,112 Sell price: 210,000 Selling fees: 7,480 conveyancing: 1,200 (approx) Are the mortgage fees I have to pay to pay out the loan included in my cost base? I haven't...

I just wanted to check I understand how to work out how much CGT I have to pay if I sell my IP. If I sell IP for $200k and my expenses are: mortgage 69,000 selling fees 10,000 legals 2,000 total: 81,000. 200,000-81,000 = 119,000. I've had it for 3 years so I get the 50% off...

Thanks very much for your replies :)