Do I need to pay for flyscreen to be installed at the property?

[kathryn d]

Yeah I don't rent to those kind of people.

We do....
Most of our tenants can work at a minimum pay job and afford most of our properties. We offer a range of properties.

We became landlords because of my teenage daughter's slum landlord. She couldn't use her bathtub because the ceiling was coming down above it. The LL refused to fix it..she refused to pay rent (not permitted). Violence ensued.We stepped in and took control of the situation.
We knew we could do better than this.

We never let our properies deteriorate.They are our investment.
Negative gearing is not permitted in Canada.
We are required to make a profit, within the first few years, or our expenses can be disallowed.

We tend to buy cheaper properties now, because they offer the highest CF.
CG is nil..but we are buy and hold.(mostly)

 

[skater]

I agree with what you are saying. Small improvements do add to a better tenancy though imo

It is very much horses for courses.

I could load up one of my ex-housing commission with all the trendy mod cons I like (and cost me an arm and a leg doing it), but it won't mean that I get much more in rent.

You need to look at what a tenant expects out of a place in the area the IP is in. If it is in Nth Sydney, then you might need it to be extremely smick, but if it is in the heartland of a low-socio area, all they really need is something that is clean, tidy and basic.

 

[jaycee]

It is very much horses for courses.

I could load up one of my ex-housing commission with all the trendy mod cons I like (and cost me an arm and a leg doing it), but it won't mean that I get much more in rent.

You need to look at what a tenant expects out of a place in the area the IP is in. If it is in Nth Sydney, then you might need it to be extremely smick, but if it is in the heartland of a low-socio area, all they really need is something that is clean, tidy and basic.

Obviously skater, jsut like putting an outdoor shower in the hallway of an aprtmetn building might not be as userful as one outdside a house on the deck by the outdoor swimming pook.

People do need to use common sense


Wylie, no problem, just cause I said I felt a house without flyscreens brings to my mind a 1/2 finished place, you, while suggesting later you can respect a different opinion, replied with "I better tell my neighbour their $1.5m house without flyscreens is a dump "

Thats were I got the feeling you didn't accept my opnion as valid and tried to show by example what it was instead....

 

[weg]

I could load up one of my ex-housing commission with all the trendy mod cons I like (and cost me an arm and a leg doing it), but it won't mean that I get much more in rent.

This is very much the case skater. It's like overcapitalizing but in the rental market.

I spoke to a LL a couple of months ago who told me her house had been vacant for 4 months.

I thought this very strange as hers was down the road from mine, but mine was vacant for only 2 days during the same time period.

So had a look on the internet, and yes, same scenario... very nicely renovated, asking well above market rent for the rundown pocket of the older suburb that it was, and no takers (or takers that she wasn't willing to take on I'd say).

In fact, there were a couple of basic but brand new homes in the new estate down the road asking the same rent, and heaps of nicer ones for $10 to $20 more.

On a smaller scale, something as simple as non essential items as fly screens fitted, could easily be a months rent gone, dollars you never fully recoup, with zero flow on benefits, other than the warm and fuzzies you get from being a nice LL .

 

[Melbournian]

We do....
Most of our tenants can work at a minimum pay job and afford most of our properties. We offer a range of properties.

We became landlords because of my teenage daughter's slum landlord. She couldn't use her bathtub because the ceiling was coming down above it. The LL refused to fix it..she refused to pay rent (not permitted). Violence ensued.We stepped in and took control of the situation.
We knew we could do better than this.

We never let our properies deteriorate.They are our investment.
Negative gearing is not permitted in Canada.
We are required to make a profit, within the first few years, or our expenses can be disallowed.

We tend to buy cheaper properties now, because they offer the highest CF.
CG is nil..but we are buy and hold.(mostly)

Wow such drama - i suppose you never had the tenant who paid 12 months in advance? hmm different target market here.

 

[weg]

Wow such drama - i suppose you never had the tenant who paid 12 months in advance? hmm different target market here.

Why do your tenants pay in advance and not give you issues? Is this resi or commercial property? Corporate or mining leases?

Is there a trade off like poor yield or risk (as in high end property, DHA, mining towns?). Just curious.

Between extended family and close friends and the many dozens of different types of Ip's and tenant details I've been privy to I can't say I've seen this as typical of resi.

The more properties you have the more issues you're bound to have, although some people with very few (sometimes only one) seem to have issues all the time.

Worse case scenario seems to be unsuccessfully managing your PM (who you shouldn't have to manage) who in turn is unsuccessfully managing your IP's . Some of these tenants must be tearing their hair out too in cases like this.

It sound's like Kathryn's operation is pretty well under control, and in good hands with her *whatever she calls them*, otherwise I doubt she would be out of the country for so long.

 

[kathryn d]

It sound's like Kathryn's operation is pretty well under control, and in good hands with her *whatever she calls them*, otherwise I doubt she would be out of the country for so long.

They are called superintendants..(supers) who only work for us. They deal with our tenants under our supervision. The prepare leases and find new tenants when required. Clean units when required and do basic maintenace and repairs of the properties.
Shovel snow off stairs at some properties (bet you don't need to worry about that here) and throw down salt.

They have been excellent. We have properties in 2 towns, and have a married couple (super) in each.

 

[Melbournian]

Why do your tenants pay in advance and not give you issues? Is this resi or commercial property? Corporate or mining leases?

Is there a trade off like poor yield or risk (as in high end property, DHA, mining towns?). Just curious.

Between extended family and close friends and the many dozens of different types of Ip's and tenant details I've been privy to I can't say I've seen this as typical of resi.

The more properties you have the more issues you're bound to have, although some people with very few (sometimes only one) seem to have issues all the time.

Residential lease - i just use a property manager, my tenants are different target market - they're basically students. They come in pay 12 months in advance as they happy to get it out of their wayand continue on their way. sometimes they ask for this and that - but they're happy to pay for it. not all my leases are like this. just one or two that happily pay in advance.

 

[jaycee]

Wow such drama - i suppose you never had the tenant who paid 12 months in advance? hmm different target market here.

That's what I thpoguht.

It's interesting the differences between Canada & here, what Kathryn does and what people do here and the positives/negatives of the different approaches.

But it does not always mean that whatever may work better in Canda, will work and should be employed in Australia, or vic versa.

 

[Wunderbar]

I'm surprised that a socialist country like Canadia offers more power to landlords. But I think we need to make a point of distinction here - because kathryn's properties are more like serviced apartments rather than 'residential property' that we are talking about here. It's just like running a hotel.

 

[Ed Barton]

I'm surprised that a socialist country like Canadia offers more power to landlords. But I think we need to make a point of distinction here - because kathryn's properties are more like serviced apartments rather than 'residential property' that we are talking about here. It's just like running a hotel.

so all the 'rules' an regulations make sense if it's a hotel.

 

[Wunderbar]

Exactly. there is less need to protect short-term hotel clients than your standard 6/12 month lease for a tenant. So we can't compare fairly.

 

[jaycee]

Exactly. there is less need to protect short-term hotel clients than your standard 6/12 month lease for a tenant. So we can't compare fairly.

But it is interesting and there are things we can both learn (Aussies & Kathryn) off each other

 

[Wunderbar]

You can't compare residential and commercial (which is hotel) rents. It's a completely different market even though they both provide the same thing fundamentally - accommodation.

 

[jaycee]

You can't compare residential and commercial (which is hotel) rents. It's a completely different market even though they both provide the same thing fundamentally - accommodation.

Oh I agree, I find the differences interesting, but as you have seen from my disagreements, I do not think they are either alway as easily implementable or relevant to here, or necessarily better than the way we do it here as some seem to insist ...

 

[kathryn d]

I'm surprised that a socialist country like Canadia offers more power to landlords. But I think we need to make a point of distinction here - because kathryn's properties are more like serviced apartments rather than 'residential property' that we are talking about here. It's just like running a hotel.

Our properties are all residential.You have no idea what you are talking about.

All you need to do is click on the bottom of any of my posts "our properties" and it links to our website, which shows all of our properties.
We have 12 furnished units, but we do not provide housekeeping.
The other units are a mixture of apts,mobiles,houses.
The length of lease we require is determined by the property.

Canada does not provide more power to LL. We insist to be treated fairly and by the letter of the RTA.

We are not permitted by the RTA to require 12 months rent in advance. Best we can do, is accept it, if it is offered by a tenant.

Jaycee,
We know there are differences in what the RTA says between states, and between Canada and Australia. The principles stay the same. If you allow your rights to be taken from you, what good are they to begin with?You need to know the laws and rules yourself.If your properties are in different jurisdictions, you will need to know for those states. You need to know the ACT well enough to insist the PM follows the rules, if you do emply them.Remember the PM does not work for you.He works for the PM Company.
Every problem may seem too hard to be bothered with. Even if you take your most common problem with tenants, and make sure they're dealt with, under the RTA legally, it will make a huge difference.
Most here are just in the beginning of their investment journey,and these savings will compound quickly.

We know when to let a deadbeat tenant go,because chasing them for payment is useless.We can't collect when they are on social assisstance here.

 

[Wunderbar]

I would look if your website links actually worked. Not a good business model if your website doesn't link to pictures et al properly?

 

[jaycee]

Our properties are all residential.You have no idea what you are talking about.

All you need to do is click on the bottom of any of my posts "our properties" and it links to our website, which shows all of our properties.
We have 12 furnished units, but we do not provide housekeeping.
The other units are a mixture of apts,mobiles,houses.
The length of lease we require is determined by the property.

Canada does not provide more power to LL. We insist to be treated fairly and by the letter of the RTA.

We are not permitted by the RTA to require 12 months rent in advance. Best we can do, is accept it, if it is offered by a tenant.

Jaycee,
We know there are differences in what the RTA says between states, and between Canada and Australia. The principles stay the same. If you allow your rights to be taken from you, what good are they to begin with?
Every problem may seem too hard to be bothered with. Even if you take your most common problem with tenants, and make sure they're dealt with, under the RTA legally, it will make a huge difference.
Most here are just in the beginning of their investment journey,and these savings will compound quickly.

We know when to let a deadbeat tenant go,because chasing them for payment is useless.We can't collect when they are on social assisstance here.

That's great Kathrymn and I'm happy for you.

I've tried not to tell you you were wrong etc etc with waht you are doing over there in Canada, cuse s you expalined to Wunerbar, I would not know what I am talking about.

But you do appear to often tell us your way is right and our way is wrong.. You even referred to yourself as someon etaking horses (us!) to water but us not be8ing able to make us drink.

PErhpas, jsut perhapos, some of the investors here are doing allright & aren;t that thirsty to feel the need to be led and the need to listen to you about wheat to dor drink or wwqhen ?

It's interesting your view on stuff, but do you have to tell us we're wrong in order to show us the differences ?

BTW despite your reply to him, I do not think that Wunderbar insinuated you ahd anythign other than residential properites.

 

[skater]

I would look if your website links actually worked. Not a good business model if your website doesn't link to pictures et al properly?

Funny, I didn't have any problem looking at it.

 

[Wunderbar]

Try this: http://www.dockreyapartments.com/amherst/ and follow the "224 Victoria St" link, if you can