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Hi all, Quick question: For a strata building do lights in the common areas need to be lit up 24/7 (in the name of Fire Safety) ? These are actual staircase, common area lights, not the 'Exit' sign which I beleive do need to be on 24/7. Our strata manager is saying that 'yes' they...

Hi Wylie, There is a key that is used to open the boom gate to gain access and exit from the garage area. It's just manual, and requires the tenant to get out of the car, insert key, and turn the key to open the boom. Other tenants in the same building have a remote. Could be all others, and...

Hi all, After some advice here. The unit I've rented out to one tenant for almost 2yrs now is chasing up on a remote control for the boom gate. The boom gate is the massive gate that provides entry to the underground garages. When I bought the unit 2 yrs ago, I was never given a remote...

Lol, meant to say the proposed rent will increase from $370/wk to $390/wk. Its coming up to 12 months in Apr. Which is why the agent sent the letter proposing the increase now, as we need to give 60days rental increase notice to the tenant.

Hi All, Current rent is $370/wk. proposed increase is $390/wk. Yes, I agree. A proactive agent is a definite good sign :)

No, rental increase doesnt count as a re-let. So no agent fees. They are only payable if the tenant leaves, and they assist with finding a new tenant.

@alexlee I've always been on the conservative side. Putting myself into the tenants shoes.. If I received a $20/week increase, that would put me off a bit.. If it was lower, such as $10, I would be reasonably ok with that. It's all about their mind set and if they believe the $20...

lol, yes I know. Its a good thing they are proactive. However, as an investor, I am worried about the worse case scenario. Having the property vacant for week/s is the big one! Hence my concern.. :)

G'day all, I got this letter last week, and I'm not sure what to make of it. I received a letter in the mail from my real estate agent saying something along the lines 'Due to high demand and low vacancy rates in the rental market in <suburb>, your exisitng rental property @ <address>...

Thankyou for your input Ideo, appreciate it :)

Good morning Ideo, I have uploaded some attachments for reference. The RED parts are the windows that could have visibility to my property. Unfortunately, even squinting my eyes.. the plans don't really say how far they are from the boundary. But they are relatively far away.. in that...

G'day all, So today I found out that me neighbouring lot is doing a knockdown and rebuild of 2x2 Storey dwellings and 4x1 Storey dewellings wirth attics. My property is south facing, with my entire backyard is north facing. Clear visibility on both Western and Eastern fronts. With...

@wylie: What ever happened to the outstanding bill ? If no one pays, will it accumulate late fees.. and then come back to the landlord in the end with a massive bill ?

Hi All, So thte tenants are responsible for connecting utilities to the rental property. What happens in the case when the tenants leave, and the bill comes afterwards? For example: Utility bill for period Jan, Feb and Mar months are to be paid in April. Tenant give notice in Feb...

Hi Terry, I'm a bit confused. If we agree that a LOC should really be used for smaller IP expenses. And that the main 'bigger' parts of the loan such as the 10% deposits should come from else where. But in a few posts above, when I asked where these 'bigger' funds should come from to...

Is it generally a bad idea to use a LOC for bigger borrowings ? As per Rofl's statement:

If most investors use a LOC for small bills and expenses sub $1k. What would be the ideal way to use say $50k of savings sitting in an offset as deposit on the next IP ? But still making the interest incurred from using the 50k deposit tax deductible?

@PT_Bear: That was exactly my thinking when I setup my loans. I decided to avoid the LOC structure, portfolio loan structures after doing alot of research (apparently not enough..). So instead I opted for 2 split loans (variable) split 1: 400k split 2: 100k I was going to use your...

@Rolf, can you please clarify the reasoning behind this statement - regarding not to use the loc for big borrowings ? Are you referring to things like IP deposits? which hover around the 50k mark. If so, what would be the alternative for large sums such as IP deposits, if not a LOC ?

Thankyou all. Question about a LOC: Is it common for a LOC to allow auto-debits, with no minimum transaction? (unlike a redraw which has a min tranfer limit of $1k (at least some do)) So for example, if I have a LOC with 10k. Would I be able to pay my IP bills via BPAY and auto...