Recent content by SimonSays

The PAMD 20a requires a period of no less than 30 Days and no more than 90 days. By doing it at 7 days you can make the document invalid and by asking the agent to sign this or they don't get your IP, could place the agent's licence at risk under the act or fines. I don't know any agent that...

Skater Love the energy you have and good for you. I am not defeating your right to negotiate fees, but just wanted to mearly explain the perspective that many investors never see on why agents charge like they do. I dont really care if you are interested in my neck of the woods or not, I was...

Hi Skater This data is averages based on RTA data of bonds lodged by landlords and agents. Not all areas achieved growth. CPI is calculated on a number of areas of consumer needs and the housing sector (one of 11 sectors that make up the CPI) as for the 12 months to September had a 5.2% growth...

It is great that you have got growth of $100pw of your IP, but for many areas in Qld rents have only grew by 8-10% this year based on RTA reports. Not every property has increased and while we would love this growth, we have to be real. It is also a bit random that you assume that every one of...

Hi Wylie It is the PM who is driving all this. The PM's are booking the certifier, are arranging the repairs (not all certifiers are authorised to repair and as well as inspect!) and communicating back and forth with the landlords and contractors. The biggest issue is right now trying to get...

Having worked in the Property Management Industry for 15 years I thought I might share some facts about PM's. In Qld 60-70 % of agents charge a relet fee for RIP. This % is increasing as business costs spiral out of control. The average relet fee charged in Qld is between $55 - half a...

Interesting discussion but a few points to consider: If the management fees are so high or excessive, why dont you manage yourself - Because you want the agent to deal with the problems that come with IP and let me tell you, it is a lot. But you always have that option. The other point not...

Hi Here's a tip for you. Once you get it rented, and soon I hope, have your lease expire in Jan or July. These are the 2 busiest periods of the year so if it comes vacant again during these times, you have the best chance to get it rented quicker, because this is the biggest inquiry period...

New Tenancy Laws for QLD - July 1 Hi Just remember that whilst you want to bring the rent up to current market conditions, under the current and new ACT the tenant can apply to the tenancy tribunal for excessive rent increases. If you end up in court, make sure you have documented evidence...

Understanding all sides Hello I agree with most comments about the need to rent the property quickly and reduce income loss between tenancies, but it is important to understand the whole system. In Qld, agents/landlords must complete the final inspection within 3 business days of receiving...

PM Obligations with water and smoke alarms I have been reading with interest the comments about what property managers should do and not do. As both, a former PM and investor, I have to say both areas utlimately accept risk and liability for whatever issue that arises. For PM, we are required...

Dave If it was over market, the tenant would probably not have renewed the lease and the prop. would be vacant now, forcing the LL to re think their over market increase. I hear what you are saying, no dispute from me but hearings in small claims court are often made on emotions, not facts...

Business approach Hi all I agree with the comments made about investment properties being treated like business's, but dont forget that with this investment your success is not in your hands 100%. You lock a tenant in for 12mths, you hope that at the end of the 12mths your have got a good...