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This is common practice here in Sydney. To give you an example, I saw one of the most rediculous things in my life for a pair of side to side terrace houses near Central station (Sydney). Trying to dig up the ad. Basically these pair of houses were tenanted at the moment renting for around...

I was kicking some tyres getting some quotes for an attic in a terrace house in Sydney. The total cost of getting plans, approval and installation came to around 75k. Both with front dormer and full length rear dormer + matching stair cases. The builder told me materials for a terrace attic...

Thanks guys, I may get my friend to manage it if we can work out costs. When I was young, I spoke and negotiated directly with PM's for my mums investment property as my mum didnt speak english. This was when i was 12-15 years old, I sort of remember what needs to be done. I was dispute...

Since this will be a semi short term lease, 6-18 months I may work something out with the tenants upfront. I intend to live in the place after 18 months, so Im not sure raising rents every 6 months is the way to go, it will definitely annoy your tenants. I have my RE mate inspecting the...

Thanks mate, Im willing to give it a go. I have a mate thats a real estate agent, but Im also willing to understand the whole process and ensure things are done legally. Hopefully I will find good tenants, Im very selective on who I choose. In addition as evand said deal with things that arise...

Thanks for the help guys/gals. Post are very informative, I do agree that there are times things arent trival. But then I live a street away and should be able to arrange tradesmen for repairs and stuff quickly or do it myself. The rental agreement and inspection report is handy, the...

Hi All, I am in the processing of doing up my property getting it ready to be rented out. I would like some advice on how to get things going, basically I think I may have a few tenants in soon. As I had people approaching me off the street while I was doing some work around the house...

Hi All, I have a few quick questions, basically I am the landlord of a new property since last week. The bond has been carried over and I have it in an interest bearing deposit. The tenants advised me they would be leaving Monday of this week, upon talking to them on Monday to find out...

Do you know the breakdown of the trusts though? I would imagine most of them are commercial property, office space or shopping centres / carparks. Interesting times ahead though. Slam

Spoke to the tenants he has agreed to restore the roof and will be leaving the grills as is. I guess everything is being sorted out and progressing (except the exact bond amount including interest). The tenants are expecting X + 500. I calculated it roughly to be around X. Vendor hasn't...

Have a look in Surry Hills, terrace houses rarely come up for sale and they rent well. Im settling on one this coming week. Make sure its a decent sized block with rearlane access. Being so close to the city the values are consistent and do not take huge swings. I have lived in the lower end...

I have spoken to the tenants last week. I sent him a lengthy email on the conditions and what I am planning. He has acknowledged receiving the email but is yet to respond. What am I suppose to do, let him keep renting the place out after it settles at a price Im not happy with? My...

Yes my mistake for not requesting vacant possession. Everything is still proceeding this coming week. I am trying to sort it out with the tenants what they want to do. He hasn't even replied whether he wants to stay on or leave. I will make one last effort to contact him, otherwise I would...

Thanks for the comments, I understand that property is bound to the contract of sale and commercial lease, I have gone through this. Nowhere is it documented with invoices about the installation of these items. This is fine, I accept that these items will be removed. Given that the tenants...

Yes Im sure you can just rip up a contract that has been exchanged, deposit placed and stamp duty paid. Thanks for the comments, willair. From all account it seems the vendors in financial troubles (as told to me by a number of parties). Anyway if you have something constructive or some good...

Yes they have been there for a while, Im going to have a few options for them and the vendor. Either they sort it out before settlement and have it in writing that its fixed to the property or they tell me they are going to remove it and I make them remove it when the property settles. If its...

The are doing valuations to cover their risk. If you go and buy a house for 400k, the bank comes back and says its worth 380k, then you need to come up with the extra 20k for settlement. If you applied for a loan of 350k, but the house is valued at 20k less. They will only lend you 330k. Ask...

Just to clear things up. This is a commercial property and is on a commercial lease. The land is zoned for commercial office, retail or home residential. So theres nothing dodgy here, everything applies with council. Slam

The story is unfolding at the moment. I meet up with the tenants today and said to him give me a copy of all invoices and photos of what you are expected to be owned from the current vendors. Well he said this, $2750 because they were broken into and robbed a while ago he had to install 4...

This property is not eligible for FHOG. The main thing being PPOR is land tax, this is my one and only property. It will be the property I live in after a year or so. I don't intend to sell it for a long long time (20 years+). Hence I don't expect to be paying land tax on it. I am paying the...