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Thanks for the responses :) I've been interstate for a while, and have just had all my mail delivered, in it was a letter from SEW explaining that as my old tenant was moving out, I was responsible for usage until they are advised about the new tenants details. I'll give them a ring on...

Hi all, Question for everyone, because I seem to be forever emailing my PM trying to figure out what's going on - this is my first IP, and everything is new to me! My old tenants recently vacated my property, and it was vacant from the 9th - 17th. On the 18th I had a new tenant move in...

Thanks for the replies, I think I'm going to go with the Brivis. Haven't found anywhere else to get an online quote, so will ring a few companies tomorrow. Does anyone know the difference between their "Buffalo" and "Wombat" products? It looks like the Wombat is 0.2 star higher, but the...

I'm just wondering if there are any other recommendations - I'm trying to get a few quotes together so I know what kind of money I'll be up for, for a small (5/6 point) ducted heating system. So far I've only found and online quote for Brivis through Origin Energy, which was $2400 for a...

I didn't know about depreciation reports etc till a friend told me just before tax time. When I took my books to the accountant to do my taxes, he was surprised that I (as a first time landlord) had a depreciation report.

Hi all, Have gotten an email from my PM, telling me that the tenants are having issues with the ducted heating. They say that it is not working properly as it turns on then turns off at the main unit in the ceiling and the tenant has to go and turn the switch on at the main unit to get it to...

Thanks for the insight guys, hopefully it's all good, we'll see tomorrow! :)

Hi all, I'm new to the IP world, and have been renting out my first house for about 8 months. I have a PM that I chose based on others recommendations. The rate is a little higher than others in the area (8%+GST, SE Melbourne) but based on the personal recommendations I decided to go with...

Hmm, good to know, something to check up on properly for future loans!

eeek, don't say that, I'm locked in for a fair while with them!! I certainly know I'm going to be more proactive with it all now, keep on top of it a bit more :)

Just to follow this up - it looks like it was the brokers fault, the account was never set up as an offset account. This has now been fixed, and BankWest has credited me the extra that was paid in interest. I should have figured out that I was paying too much earlier, but as it's my first loan...

*sob* thanks for telling me to check up on it - it got the better of me, and I've just rung my bank (open on a Sunday night, gotta love that!) - the account hadn't been setup as an offset account, grrr! Not sure if it's the broker or the banks fault, but they've changed it to an offset account...

Thanks for the replies, will get onto the bank tomorrow, see what's going on!

I've just looked over my figures again, and realised that my calculations were off - I am paying the same per day every month - I didn't notice that the day the payments come out of my account varies sometimes, mostly it's the 21st but sometimes it is the 22nd, 23rd, which obviously varies how...

Yep, the offset is linked to the loan (or at least I hope it is, that's what I set it up as!), it's with BankWest.

Hi all, I've now had my IO loan for 8 months and I'm still having trouble understanding the repayments, specifically how much they should be. The loan is for a little over $250k, over a 30 year period with a 5 year IO component, interest is currently 7.3%. It has a 100% offset account with...

Thanks for clarifying :)

Hi all, Just wanted to clarify something so I've got it right in my head :) Went to the accountants today for the first time ever, having purchased my first investment property earlier this year. With the paperwork that my accountant prepared, I can see where all of the various expenses are...

Yep, this is for Vic. I'm fairly sure this is for a green bin. I ask because it's a relatively new thing in our local area (about 5 years?), my house doesn't have a green bin and neither do most on our street. On rubbish day, a drive around shows very few people who do have a green bin -...

Hi guys, Just after some advice. I purchased a property in January this year, and I've just received the rates notice. It lists a charge for the rates, a "Garbage Charge" and a "Green Waste Charge". I know I need to provide a "Garbage" service, but do I need to provide a green waste...