Search results

  1. S

    Short term IP rental club

    This question should probably go to the "Accounting and Tax" section but since we are on this topic, I'll just ask away anyhow. :D I'm assuming people here doing this are already register with a ABN. If your income reaches over $75K, do you need to register for GST? According to ATO, renting of...
  2. S

    Airbnb related - Came across this and thought it's interesting

    Is this illegal (in Melbourne)? Don't you need some kind of license to operate a residential property like an 'hotel'? :confused:
  3. S

    How to fix cracks on the wall

    Hi All, I have a long crack in the bathroom wall running across on my IP apartment (http://i43.tinypic.com/5vzn87.jpg). The wall is probably plaster. I am thinking of DIY. I will probably need to fill the cracks and then repaint it. Can anyone give some pointers to the questions I have? 1...
  4. S

    Sacking an Accountant

    I have been with this accountant for 3 years. I had an investment property. Lately, I brought another property. When my accountant come back with my tax return, I find that there are quite a number of items that the account has missed out. E.g. I should be able to claim mortgage insurance as...
  5. S

    Using 2 Property Managers at th same time?

    Back to the original question. Has anyone use two PM at the same time when trying to secure tenancy? Is it lawful in the first place?
  6. S

    Using 2 Property Managers at th same time?

    Same here, I signed the exclusive leasing contact on settlement day. So the 120 days of exclusive right would expire 1 July 2012. Perhaps I should remind them like you did before I change to another PM.
  7. S

    Using 2 Property Managers at th same time?

    Below is the screenshots of the advertisement. The same photo and description were reused when it was on sale. So some of the furniture place there during sale are no longer there. http://www.freeimagehosting.net/eqobk http://www.freeimagehosting.net/raihg...
  8. S

    Using 2 Property Managers at th same time?

    @boomtown Yes, you are right. I have signed the agreement with the first property manager and there is a REIV Code 005 "Exclusive Leasing and Managing Authority" In it it states that Exclusive Authority Period Of Leasing 120 days from the date and Continuing Authority Period for Leasing 30...
  9. S

    Using 2 Property Managers at th same time?

    I got a investment property 6 weeks ago. It is a 3 bedroom house, brand new. The real estate agent that sold the property offered a very good rate (5.5%) to manage my property. However after 6 weeks of advertising, I am still not getting any tenants. Some issues with this property manager...
  10. S

    Recommendation Needed - Building Inspection Company in Melbourne

    Has anyone use these two companies for Building Inspection? I got a quote from both companies and there are about $100 difference. CPI http://completepropertyinspections.com.au/ Bear Bottom Inspections http://www.bearbottominspections.com.au/ Any recommendation of any Building...
  11. S

    Is the Mortgage Fixed Loan Locking Fee tax deductible?

    This is the optional fee when you try to lock in the mortgage loan rate to the current rate when settlement can be a few months down the road. I'm sure many of you do that, so it should be obvious. ;)
  12. S

    Is Annual Loan Fee tax deductible?

    One quick question. Is the annual loan fee charge by the banks for a mortgage tax deductible? Is it considering borrowing cost?
  13. S

    How is the cost of body corporate divided?

    Hmm.. this is getting interesting. If it's 50%-50%, then if one say Yes, and the other say No, wouldn't that be a deadlock? How to resolve this deadlock? While it's true that I would have 50% say in the matter, I would also pay 50% of the expenses (whatever that is), isn't it? Lizzie, the...
  14. S

    How is the cost of body corporate divided?

    Hey Aaron, I guess I am being cautious. I don't like the idea of signing a contract without knowing for sure what I am getting into. Dave, I think it's not just the insurance but also the payment of the maintenance of the common area, isn't it? Yeah, it may seems like a small savings for a...
  15. S

    How is the cost of body corporate divided?

    It seems like the plan of subdivision and owners corporation schedule is not submitted yet. In the document, there is no signature on it. Note that this is a off-the-plan. I am also wondering why I am given only the section 32. Shouldn't I receive the contract of sales as well? Pardon me...
  16. S

    Solicitor or Conveyancer

    any good Recommend solicitor/conveyancer in melbourne?
  17. S

    How is the cost of body corporate divided?

    I am thinking of purchasing a property that was sub-divided into 2 units townhouses. The total land size is 800m2 - sub-divided in 450m2 on the first unit and 250m2 on the second. The common area (100m2)is the driveway which both units will use to enter into their car parking. According to the...
  18. S

    Property valuated lower than purchase price. What are the options?

    Hi Rolf, Yes, I am doing the Sing dollar loan. Last week, the loan rate was 2.53%. How is the valuation isn't that bad due to the SGD loan? Sorry for such a noob question ;) The property is just opposite Southern Cross train station in Melbourne. I guess it should be a good location...
  19. S

    Property valuated lower than purchase price. What are the options?

    Hmm... what sort of issues would I be facing in the future? As far as I see it, I am actually loaning less and having to pay less interest. Of course, I know the interest is tax deductible. I believe the property is completed few months back. I was told by the agent that they are trying to...
  20. S

    Property valuated lower than purchase price. What are the options?

    Yeah, considering that my settlement date is just 2 weeks from now, it's either I reject the offer or just go ahead with it. Anyway, they waive off the stamp duty of 16K. So I guess I still not in the losing end. :D
Back
Top