Search results

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 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...

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>...

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...

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...

G'day, If a person has a Loan of say 100k. They deposit 50k into the loan. They then 'redraw' the 50k and use as a deposit for an IP. From my research, this act of redrawing 50k for investment, and the resulting interest incurred is deductible ? Similar scenario: They deposit 50k into...

Hi all, Just got off the phone from the Vendor agent this morning. The Vendors haven't been able to find their new property to move in to, and have asked if it would be suitable for the vendors to perhaps rent the property from me once the property settles. This will be my PPOR. So I...

G'day all, First time organising home/content insurance for a ppor. Anyone able to confirm and detail the following points of interest for me please: a. Once the contract is signed, buyer should organise home insurance right away? Do not wait for settlement? b. Do I just get home...

Hi all, What are your thoughts on Portfolio Loans? They are similar to LOC's where there is a maximum borrowing limit. You are free to structure the loan as you please, and have sub-accounts with separate statements for Investment purposes. I haven't seen many posts on here about...

Hi All, Let me explain the situation, and hopefully i do it well enough so you know what my dilemma is: a. I am thinking about getting a PPOR as my next property b. PPOR to be converted to an IP down the track c. While this is still a PPOR, I want to continue acquiring IPs using my savings...

G'day, This is just a general question about the Selling Agent for Off the Plan properties. How can one tell if the Selling Agent advertising for OTP sales for new appartments is really the official selling agent the developer has chosen? My paranoid mind has got me thinking.. can an Agent...

G'day, So I've been told that locksmith's cannot/will not duplicate security keys. What is the normal process of obtaining a copy of the security key if an extra one is needed for property manager and tenants? I was told to contact strata, which could cost around $60 for a key to be...

G'day, I'm renovating a new IP, and decided to get a new basin and vanity unit. In the basin, there is one hole for the mixer. And a waste hole. I'm trying to figure out how to measure the basin waste hole so that I get the correct size for the plug and waste. I have attached a diagram...

G'day all, I'm after good recommendations on tradies in the Sydney areas that can: a. help install floating floor boards to replace old carpets b. help install kitchen floor tiles to replace the old floorboards in the kitchen area. There are just so many tradies to choose from, I was...

G'day, Today I asked my solicitor to review a contract for me. They came back with some points to note. And we basically had a list of 'amendments' to confirm with the Vendor solicitor. My understanding is that - a. You get the contract reviewed. Amendment requests are then sent to...

Good morning All, Is anyone able to shed some light on what restrictions a SEPP5 developed property entails ? My understanding is that a property with SEPP5 will limit occupants above and equal to the 55yo age limit. The agent said the strata company isn't enforcing this. However...

G'day all, This is my situation at the moment: I am looking to buy a PPOR, and then months later continue with acquiring IPs. I have a decent amount of savings that will be placed into an Offset acct against the PPOR loan. I have been researching loan structures so that when I use my...

Hi All, So I went for an auction on the weekend, and this is what happened towards the end of the bidding. There were two bidders left in the bidding game. There was a top bidder. The auctioneer tried to get another bid from the 2nd bidder but no go..The price had not reached reserve...

G'day all, I found this property 2 weeks that I like. I have been thinking of getting it as my first PPOR. This property is scheduled for Auction in 2 weeks time. Iniitially, after inspecting the property on the wkend, I made a written offer to the agent. The agent called back saying he...

Hi All, Support I use a computer (desktop, laptop, or ipad) for example with the split: 85% personal, 10% work and 5% IP. Where should the 5% IP related deduction supposed to go in the tax form? I have been using ETax and there is a separate worksheet for Rental Properties. But I...