Hi,
I am currently looking at the numbers for a block of units in regional Victoria. The block has 4 units and is not strata-titled. I received a statement of account from the real estate agent for the past year and the numbers don't look so good.
For serviceability reasons, I am looking for a CF+ or CFN property as my next purchase. When looking at this block of four, I noticed that there are four lots of water rates and four lots of council rates. This is what basically kills the numbers. I thought that if the units were all on a single title, there should only be one set of council rates. Is having 4 sets correct? I can understand having 4 lots of water rates. I think I read elsewhere on this forum that if you get the water company to install separate meters, then they will slug you with independant rates.
Cheers,
MrHyde
I am currently looking at the numbers for a block of units in regional Victoria. The block has 4 units and is not strata-titled. I received a statement of account from the real estate agent for the past year and the numbers don't look so good.
For serviceability reasons, I am looking for a CF+ or CFN property as my next purchase. When looking at this block of four, I noticed that there are four lots of water rates and four lots of council rates. This is what basically kills the numbers. I thought that if the units were all on a single title, there should only be one set of council rates. Is having 4 sets correct? I can understand having 4 lots of water rates. I think I read elsewhere on this forum that if you get the water company to install separate meters, then they will slug you with independant rates.
Cheers,
MrHyde
