My management agreement states that one weeks rent is payable for 12 month renewel, which in retrospect is ridiculous for a renewel, I will have to get this changed. But my question was - What is a reasonable charge for this? A ballpark number is all I am after.
Cheers
Mike.
I have recently had a tenant re-sign for a 12 month lease. My prop. manager has charged me $33 for re-lease and an additional charge for $506 for something. Same tenant re-signed, rent went up moderately in line with market. My understanding is, if a new tenant is signed there will be a charge...
Resizing loans
Thanks Rolf,
what about the costs associated with resetting loans after property revaluation?
I paid about 4k of costs to mortgager after loans where reset to higher values after reval.
Mike. :)
Hi there,
I have recently paid mortgage insurance on the loan for an IP I purchased.
My accountant doesn't seem to have included this amount on my tax return as a cost of finance (amortised over 5 years). My understanding is that MI is a cost of borrowing. Why would this not be included...