Recent content by tomermh

It's a fair price, not sure about the exact area, Gary Peer for example will charge you 7.7% inc GST.

Hi guys, Thanks for contributing to the poll. So far it's clear that 40% of us still self-manage our IPs using various tools rather than through a PM. That said, there wasn't an option for "PM + tools/partial self-manage". Do you find yourself still doing any work in addition to your PM? Are...

My law, the PM must provide at least one free method of payments for the tenants, PayRent is free for the PM and free for the Landlord but as you know not for the tenant. You will find that if your tenants will push hard enough they will have to pay only the amount on the lease rather than the...

Hi Guys, Reading the Somersoft forum I can find mixed responses to how people manage their investment properties, I hope you don't mind sharing your thoughts about how you generally do it of prefer somebody else doing it for you. It can be your Property Manager, DIY software such as Posh...

yer...that's correct, I guess there is a different between a house and a unit in this case.

Fair enough, it sure can be more, I meant "at least" 0.5% but I didnt write that. We do the PM ourselves and dont pay more than $220 for the insurance (basic landlord cover with Whitbread insurance brokers, cant remember the insurer name)

You should probably allow for 0.5% of the property value towards any type of expenses per year not only for maintenance but body corp, land tax, council rates, water and related. You can get some softwares to keep track of all of your expenses so you can forecast it more acuratly.

You can try Noel Jones or Gary Peer for elsternwick, caulfield and east st kilda

Self managing is not so hard, you might get a few phone calls a year but I think it's worth the $700-800 you will save. We usually get the PM to find us the tenants, pay the 2 weeks letting fee and manage it ourselves after that. I think every dollar counts, putting the money back into the...

I would say dont renew the lease, let them move to a monthly and reserve the right to give them a higher rent increase in six months time or evict them. You cant really ask them to move on even if the lease is up.

At least you can claim a loss at the end of the fin year so it's not all bad. Reducing the rent may affect your cash flow a little bit but it's better than not to have it rented at all. Good luck.