Recent content by Superstitionist

Thanks, yes, I have checked with the insurance company as well, to let them know the situation, but they said it is pretty much nothing I can do at the moment, because if I want to make a claim, I need all the paperworks that I don't have, besides, the tenant still live in the property with a...

A bit of a mess at the moment...:( Tenant stops pay rent due to redundancy, PM sent out appropriate notices and has scheduled a tribunal hearing today, still talked with the PM 2 days ago regarding the tribunal, but after today hearing time, try to contact the PM to get an update, instead...

All along I strongely believe that I need to have IO loans for my whole investment portfolio until I execute my exit strategy (ie: sell a few to cover the rest). So if I retire on the 65th birthday, before that date, my portfolio is still in -ve geared and I would expect to serve an IO loan...

That is what my concern is. If at that time I am 60 year old, I don't think the (ANY) bank would give me a loan with 30 year term (+ 5 years IO). But if they shorten the loan term (ie: 10 year term), then I may get reject due to the serviceability for the monthly repayment. Which end up I...

Would you please elaborate on this, thanks. I thought if the IO term is repeatly extended (ie: by 5 years), then the end date of the loan term would also extended (ie: by 5 years) as well, isn't this the case...:confused: Super.

Hi, As far as I understand, buy & hold investors would normally set up the loan with an initial IO terms, then extend this IO term when it expired (ie: after 5 years), and repeat this process to have the IO term for as long as it could until wind down. Now if the age of the investor is in...

If I have spent several hundred thousand dollars to buy a property, I don't think I would play around with the settlement for several thousand dollars. Well, just my 2c. Super.

Nah, I didn't out of pocket, it is only some cracks on the shower screen, and as Dazz has mentioned, it is only a small cost to fix it, so if the tenant can live with it, I definitely can live with it...:D Just because my old PM has recorded it on file, so the incident always come up from...

Hi, IP start off with tenant A and tenant B on the lease agreement, during the tenancy, tenant A broke the shower screen, they agreement they would fix it before they move out or we can take the cost out off their bond. Lease expired, tenant A moved on but tenant B stayed, and bond...

Tenant has moved out 1 month before the lease expire, but he has paid the rent until the expired date. PM has advertised with increased rent, and IF he is able to find a new tenant to move in well before the old lease expired date, do you think the old tenant should be able to get some...

I totally agree it is not a good business and I don't think I would do that either. But would like to know if VCAT is allowed that to happen, as my argument point is that the $50 is with the lease, whereas $70 is without lease, as I need to add some contingency for tenant is able to move out...

Interesting regarding the 'retaliation'...:o Lets' say the property is $70 below market, ask tenant to sign a new lease with $50 increase, but tenant refuses to sign, so instead of issuing a 120-days NTV, we re-issue an rent increase notice of $70 with no lease agreement. Would that also...

Why not...:confused: Can't we issue a notice to vacate with no specified reason...:confused: Super.

Thanks for the advice regarding the season for end of lease. The property is in Reservoir. Based on the final inspection before settlement, the place is well maintained. The options that I provided are to my PM, who said he will try to find out the tenant intention first, and see if he can...

Thanks All, After some consideration and put myself in tenant's shoes, I must say $70 per week increase is a big jump, so I have given the tenant a couple of options, he can choose to have: (a) 12 month lease, $50 increase; or (b) 12 month lease, $35 increase, after 6 month, another $35...