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I am not sure about the 12 mos, I do not have a copy of our agreement in front of me when I posted so can't check. We went through a similar thing and I thought the 1-3 months is to give notice not the term of engagement so check the fine print.

The form that you signed is a contract of engagement and it should state how long is the agreement. I think 12 months is standard. So in theory he can take you to court for breaking the contract. You can wait for 12 months and then give him a notice that you will be self managing the property...

You need to separate what is renovation and what is repair. If repairing or replacing a damaged door you can claim outright. But if you are updating, that is considered capital improvement. I thought there is a maximum amount that you can claim as repairs and maintenance, it's $3K/yr check with...

If you have a landlord insurance check if you have cover for loss of income if tenant breaks the lease. It may not be a standard cover and I haven't really check what the conditions are to make a claim.

Has someone advised you in private? Can you share?

Same here, we rented a townhouse to a family with rent assistance from Housing Commission. Never missed a rent and no problems when they moved out. We were told by REA that Housing Commission (HC) was involved so tenants can not default or trash the house otherwise they will be black listed by HC.

In a townhouse complex where we owned a unit, the pool was simply covered with a reinforced concrete slab with pebble finish and it is now used as a barbeque area. We were told the pool is not filled in and if the townhouse owners decide to reinstate the swimming pool we can do it. You probably...

Hi, I have a similar question to ATO and our accountant, if property is in joint names (ie. husband and wife) and only the wife is paying the mortgage because hubby's business is not making enough money can wife claim more or 100% of the tax deduction? ATO and accountant said 'No' because it is...

I do not dispute the fact that there was, is and will have capital growth in regional towns. I was talking in general and I should have said 'do not expect high capital growth within a short period of time' in regional towns built by mining. However, the question is if Mr Proper will buy a...

I already said you won't get both in these areas as mining slowed down a bit. If your aim is high rent you need to look at Muswellbrook, Singleton and where new coal mines and CSG development are coming like Bylong, but do not expect capital growth. If you are looking at long term capital...

I wouldn't buy the house just for the solar panels but if I really like the property and the seller turns down my first offer I would up my offer for another $2.5-3K as this will be the savings from the solar panels. Forget about the rebate, with the rising cost of electricity you would be...

Hi I am not an expert but I live in Lake Macquarie and work in Newcastle and have IPs in Newcastle and Sydney. What drive the housing market in Cessnock and Maitland is mostly the mines. Because there are more cheaper large block of land in Cessnock compared to Maitland plus the new connection...

All our IP and PPOR are with Alliance and we get a good discount. We made claims for water damage in IP and for stolen property during a break-in in our PPOR and they all went well. There was a month waiting period for our PPOR but the assessor did let us know that there may be delays as it was...

If you have another property call your existing insurance company as you may be able to get a discount. Just make sure that the property insurance in the SMSF is in the same name of the SMSF trust or SMSF company name and not the SMSF fund name.

I agree with Monalisa, one bedroom is not attractive for would be tenant. Unless you are in a very high demand area for rental properties and your market is mostly single professionals and wealthy students. If these 3 are the only choices, I would go for no. 3 as you can convert the study if it...

Just sharing some experience in LL IMO, LL insurance cost vary because of what they cover and the level of cover so you have to read the 'fine print' and even so there are grey areas like flooding, malicious damage and damage caused by tenants' pet. Our BC insurance will not cover painting...

I still work in an office next to the train track for years now but still get distracted by the noise and vibration. And no, I didn't get used to it, I am a very light sleeper and prefers the quiet and serene.

In my experience of owning a holiday unit, PM can not screen the tenants properly. Some nasty tenants stole a wok and soap holder, and will not own damaging the sofa bed. Because PM did not inspect the property straight away and found out the damage ourselves a week later the PM can not charge...

Had some experience living close to a train track in Lidcombe in 1995. My friend bought the place brand new and very reasonably priced (i.e.cheap). It is not a very busy track back then but when the train passess at 2 am or 4 am you will definitely wake up from the noise and vibration. So never...

Just a word of caution, do not just rely on the PM's inspection, from time to time tell the PM that you would want to be present in one of the inspections without the tenants so you can do an independent check. Some PM are lax specially with brand new properties, they think what could go wrong...