Every man has to have a shed
- Thread starter Dazz
- Start date
Amazing stuff - well done!!!!
Daz
Yahoo!! At last!! Congratulations!!!
And what's this nonsense about a strong cup of tea and a lie down????? A quick trip down to the bottle shop for a bottle of Vintage Bollinger at the very least!
This has been one of the most entertaining and informative threads I've read - have enjoyed every minute of it, but glad I didn't have to do all the worrying you have obviously done, Daz. Thank you for sharing this amazing journey.
I hope that you and Mrs Daz have the most incredibly enjoyable time on your cruise!
Cheers
LynnH
Yahoo!! At last!! Congratulations!!!
And what's this nonsense about a strong cup of tea and a lie down????? A quick trip down to the bottle shop for a bottle of Vintage Bollinger at the very least!
This has been one of the most entertaining and informative threads I've read - have enjoyed every minute of it, but glad I didn't have to do all the worrying you have obviously done, Daz. Thank you for sharing this amazing journey.
I hope that you and Mrs Daz have the most incredibly enjoyable time on your cruise!
Cheers
LynnH
Well it's been a while since settlement went through and things certainly settled down. It went from a frantic whirlwind to a ghost town....haven't heard from any of the players involved. They took my cash (well the Banks cash) and buggered off.
I'm chasing a bit of history on the place at the moment to feed the depreciation boys. I'm going through Scott the depreciator, a member of this forum for that service. No rush I suppose, but some time in the new year would be good.
I have about 9 or 10 jobs on my "To Do" list for this property, but none are really urgent. Introducing myself to the Tenants would be a good first move I suppose, so that is first cab off the rank.
The original paperwork from the Settlement agent came through the other day. In it was the original executed Lease, and the original 3 month rental Bank Guarantee - never seen one of those before - so that was interesting to read. Still waiting for the original signed sales contract, and the original executed Deed of Understanding binding the Vendors to their commitment to finish the Fire infrastructure works still to be done.
As expected, the cashflows are a bit bumpy.....but we'll manage those. Interest on the loan is 70K pcm, with nett rents of 60K pcm, so we need to chip in the gap. Wife's not too happy about that aspect of it, but it'll come good soon enough.
Righto, that'll do for now, better get to bed - got work in the morning. Can't keep the boss waiting.
I'm chasing a bit of history on the place at the moment to feed the depreciation boys. I'm going through Scott the depreciator, a member of this forum for that service. No rush I suppose, but some time in the new year would be good.
I have about 9 or 10 jobs on my "To Do" list for this property, but none are really urgent. Introducing myself to the Tenants would be a good first move I suppose, so that is first cab off the rank.
The original paperwork from the Settlement agent came through the other day. In it was the original executed Lease, and the original 3 month rental Bank Guarantee - never seen one of those before - so that was interesting to read. Still waiting for the original signed sales contract, and the original executed Deed of Understanding binding the Vendors to their commitment to finish the Fire infrastructure works still to be done.
As expected, the cashflows are a bit bumpy.....but we'll manage those. Interest on the loan is 70K pcm, with nett rents of 60K pcm, so we need to chip in the gap. Wife's not too happy about that aspect of it, but it'll come good soon enough.
Righto, that'll do for now, better get to bed - got work in the morning. Can't keep the boss waiting.
Well....these things take time, but the Vendors have finally finished their obligations to rectify the fire infrastructure and install two large fire tanks on-site.
Once everything was installed properly, the fire brigade came out and tested the flow capabilities to feed their pumpers. The chief fire officer finally signed off the certificate saying that everything was acceptable. That was then passed onto the Council, who slapped the fire defect notice onto the Land title search record. That was back in '04....so it's only been 5 years.
Just had written confirmation from the Council officer that everything is OK, and the notice has been removed.
Based on all of the paperwork being correct and signed off, and a full engineering report being issued by the contractors, the funds were released back to the Vendors finally. They evetually got their money.
The work was supposed to be completed and signed off in 3 months.
Settlement was back in Dec '07....so it's only been 18 months, slightly lnger than expected.
Now that that is over and done with, I just received a notice from the CFO that he reckons there is something wrong with the roof and needs attention.....this supposedly passive Landlord stuff sure is active.
The CFO might just have to call himself up a roofing contractor to rectify the problematic roof as it is probably a maintenance issue for the Lessee to take care of
did you come out with your usual response? ("well hurry up and fix it!")
No - I've learnt to check the minutae of the Lease wording before writing anything.
Didn't write the Lease on this one....another inherited Lease, so it has quite a few holes in it where the Landlord is actually responsible for a few things. Bl00dy disgraceful IMO, but that's what you get for not writing the contract and installing the Tenants yourself.
Hopefully they are responsible for it, if not, hopefully it's just a few sheets that need replacing. Not overly keen on replacing a 4 acre roof.
Didn't write the Lease on this one....another inherited Lease, so it has quite a few holes in it where the Landlord is actually responsible for a few things. Bl00dy disgraceful IMO, but that's what you get for not writing the contract and installing the Tenants yourself.
Hopefully they are responsible for it, if not, hopefully it's just a few sheets that need replacing. Not overly keen on replacing a 4 acre roof.
Can imagine you wouldn't be, Dazz!! Would hate to think you'd have to back to work in order to pay for 4 acres of zincalume!
Cheers
Lynn
Remember if you replace it...it is not a repair !!!!
Is that the case with industrial/commercial? Surely replacing some roof sheeting is a repair?
It is tongue in cheek remark, as we are experiencing similar problems.Dazz knows what I mean
I can't imagine life without a shed.
