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Thanks for your reply, At the last body AGM the current body corporate manager suggested we should talk to the owner of the other unit (they didn?t attend the AGM) and manage it ourselves instead of them doing it. I guess for a body corporate manager it is not much money in it for them to...

Hi, We have an IP in a duplex (in QLD) ie we own half of the duplex. At the moment the Duplex is setup with a body corporate and we currently have a body corporate manger. As it is only a duplex I am considering talking to the other owners and see if they are willing to self-mange the it...

Thanks for all the responses I would not do this from a tax deprecations point. My parents in law might lose the house they currently have. I was thinking about a solution for them/us to not have to get a house in commission style home for them. As we have some equity in the IP ? about...

Hi, Is it possible to rent out your house to relatives but significantly under the market value? What would the tax department say? For example, we have a townshouse that currently rents for 475/w but I am considering renting to my parents in-law for around 300/w. I still need to check how...

thanks mate, My concern is that if I ignore this and something happens... I will forward the Workplace & safety report to PM and ask them to send it on to tenant. As you said they will probably have a good laugh. Cheer,

Thanks for getting back, The body crop has insurances inplace and so do we :) Is it necessary for a body corp to do Workplace & safety report? Thanks, johk

Hi, We have an IP in a duplex which has a body corporate setup. It was agreed that a Workplace & safety report should be obtained for the duplex. It has now come back with some minor issues such as the hose should be rolled up as it is a trip hazard. Another issue was that our tenant has a...

Hi, We are some issues with our new IP please see here http://somersoft.com/forums/showthread.php?t=81779 My question is though – is it my responsibility to chase the builder up for defects etc or is that part of the property managers role? Thanks, johk

Hi, The builder has finally got back to us and he is claiming it is not a problem with the installation and he forwarded the receipt for where the electrical appliances where purchased. The property manager have contacted the manufacturer and they will look at kitchen exhaust. The manufacturer...

Hi, We settled on our IP in July this year and had a tenant moving in straight away. The property was brand new. During the weekend the tenant smelt a funny smell from the kitchen exhaust fan. When they had a look a plastic cover had fallen down and was lying on top of the light bulbs. The...

Thanks for your responses. The property is part of a Duplex with a body corporate. I had a quick look and for example with Suncorp you caninclude a Public Liabilty insurance that covers up to 20M dollars. wylie; What do you mean it comes with your regular insuance? Thanks, Jonas

Hi, A few months back it seemed the generally consensus was that we would have another rate cut in the near future. I was wondering if that is still what you reckon or has the market outlook changed? Thanks, johk

We are about to settle on our first IP and met with the real-estate agent who is going to handle the rental. She mentioned – according to QLD law we have to get Public liability insurance that have a min. cover of 10M dollars. Is the public liability insurance generally part of the Landlord...

Thanks for the heads up – I didn’t know there were a penelty. For the property we have been looking at I actually have the current owners depreciation schedule and when I a check on our numbers I didn’t use the full depreciation – call it being over cautions’. johk

Hi, Thanks for your responses and thoughts. I think I have got my head around how to calculate the depreciation for the property. How does this work in ‘real’ life though? Are my assumptions below OK? I will lodge a Tax variation form with ATO and they will get back to me with a form...

Hi, I am trying to get my head around how calculate my income if we have a negative geared property. Any comments on the workflow below is much appreciated. When I calculated the income tax I used the calculator on this site http://www.paycalculator.com.au/ Total loan amount including...

Hi, We have been looking at buying a townhouse as an IP. For units/apartments the sewer and water charges are aid by the owner but “someone” told me that for townhouses the tenant are paying for them – is that correct? Thanks j

We try again but a different scenario. We will keep the PPOR as PPOR and purchasing an IP. The IP is post ware house from about 1950’S which was fully renovated 3 yrs ago. I have not included purchasing cost such as stamp duty etc. Our PPOR value: $600k Loan amount:380k Equity: 220K IP...

Hi, Yes I would like to turn our current PPOR into IP as we would be able to get more rent from the PPOR than the house we are looking at. Sorry if my figures are all of the place but I am trying to get an understanding on how to gauge if it is possible for us to purchase the house we are...

Hi, We are considering buying a new house "of the plan" and rent our current Townhouse that we bought 2004/2005. One criteria for us is that we don’t want be more "out of pocket" than we currently are. We know that we would be able to get 590 p/w for rent as other townhouse in the estate are...