Help with Survey!

Discussion in 'WebBoard Property Investor Forum Archive' started by Marc, 26th Sep, 2002.

  1. Marc

    Marc Member

    Joined:
    30th Sep, 2002
    Messages:
    63
    Location:
    Melbourne
    From: Marc Krisjanous


    Hi all,
    I was wondering if you all could help me gather some info for a holiday IP we are working on building. Could you please answer the following 2 questions? The data will be used to tailor our IP.

    Post the answers here or email them to me.

    Thanks!!

    Questions:
    1. If you decide to go away for the weekend to a local destination (kids
    or no kids) what would you be looking for in the accommodation?
    2. What would you except to pay for two nights?

    Best Regards

    Marc

    P.S - sorry no prizes!
     
    Last edited by a moderator: 5th Apr, 2017
  2. frian03

    frian03 Member

    Joined:
    2nd Oct, 2002
    Messages:
    29
    Location:
    Perth
    Reply: 1
    From: Anthony Friday


    Hi Marc

    This is an interesting question as it opens up a number of other lines of enquiry; being:

    Will the holiday IP be furnished?
    Will it be serviced (ie. linen, dishes, etc)?
    Will you use it for your own holidays, as this has significant tax implications and you may possibly incur FBT?
    What level of management costs will you incur (can be substantial)?
    Will bad tenants insurance be much more expensive?
    Will your normal building insurance charge an additional levy as the property is likely to be vacant for many periods?

    Sorry for not providing any real answers, but these items are worthy of consideration in your initial analysis.

    It is also impossible to provide an estimate of reasonable nightly rate as you have not mentioned the location of the property being considered. A rural property an hour from Darwin is a very different proposition to a waterfront property in Sydney. Anything within an hour of Perth in reasonable condition can ask around the $80/night.

    Despite all of this, it sounds like a great idea and I hope you manage to put it together. If all goes well, can you please post your decision analysis to the board for others to learn from your experience?

    Regards
    Anthony
     
    Last edited by a moderator: 5th Apr, 2017
  3. WebBoard

    WebBoard Guest

    Reply: 2
    From: Will G


    1. Open plan living. Views if possible
    2. Cost is dependant on time of year ($200 - $500)
     
    Last edited by a moderator: 5th Apr, 2017
  4. WebBoard

    WebBoard Guest

    Reply: 2.1
    From: Dionysus888 .


    A big bath and a fire in winter. Nearby attractions, maybe beaches, vineyards restaurants, galleries etc. and a view doesn't hurt but not necessary if the surrounds are nice enough and an interior with a little style. When I go away I want something better than the ordinary or I might as well stay home. Remember,people are spending their discretionary dollar to buy a good experience.

    Dionysus888

    You're not drunk if you can lie on the floor without holding on. ... Dean Martin
     
    Last edited by a moderator: 5th Apr, 2017
  5. JumJones

    JumJones Member

    Joined:
    8th Oct, 2002
    Messages:
    107
    Location:
    Melbourne
    Reply: 2.1.1
    From: Jum Jones


    If you're near vineyards, restaurants or other attractions try talking to the proprietor about arranging discounts for your customers.... by leaving a little book of vouchers valid for the duration of their stay etc.

    Makes for a more memorable experience, thus more likely to come back, spread the word etc.

    I have heard of places in daylesford (spa country n of melbourne) doing this to give an edge of the feirce competition.


    Actually, have you scoped out the competition in the area you are building? What are they charging, what features do they have (maybe a couple of nights 'research' is in order? Tax deductible dale ??? hehehe)

    t.
     
    Last edited by a moderator: 5th Apr, 2017
  6. Marc

    Marc Member

    Joined:
    30th Sep, 2002
    Messages:
    63
    Location:
    Melbourne
    Reply: 1.1
    From: Marc Krisjanous


    Hello Anthony!

    Thanks for replying to my post! And everyone else!!

    Here’s some answers to your great questions!

    But before that let me explain our process to date. We have as I mentioned 10 acres in a rural bush setting in Melbourne. We have given ourselves one year to get the place online – meaning get a house on the land with the required infrastructure and add some walks, a dam with Yabbies, gardens, grass, outdoor living etc…

    At this stage we are currently in the first month. We have started our business plan and also have started to get feedback from other people like you guys!! The questions you have posted here are great and 3 of them we had not really considered in great detail.

    Once we get the business plan up and running I will post it to this forum before I spend any money!


    Will the holiday IP be furnished?

    <Marc> T a degree yes. There will be beds, linen, cooking utensils, plates, bowls, cultery etc... TV/Video, stereo.</Marc>

    Will it be serviced (ie. linen, dishes, etc)?
    <Marc> Yep! See above </Marc>

    Will you use it for your own holidays, as this has significant tax implications and you may possibly incur FBT?
    <Marc> No we will not use it for ourselves. Also could you please explain FBT? </Marc>

    What level of management costs will you incur (can be substantial)?
    <Marc> we are looking into this right now. There are two companies who look after your holiday IP for you in the area. They take bookings, look after keys etc... </Marc>

    Will bad tenants insurance be much more expensive?
    <Marc>Don't know that one yet but very good point! </Marc>

    Will your normal building insurance charge an additional levy as the property is likely to be vacant for many periods?
    <Marc> Another very good point and one we need to look into!!</Marc>
     
    Last edited by a moderator: 5th Apr, 2017
  7. DaleGG

    DaleGG Member

    Joined:
    8th Mar, 2001
    Messages:
    3,241
    Location:
    Melbourne
    Reply: 2.1.1.1
    From: Dale Gatherum-Goss


    Hi


    >Actually, have you scoped out
    >the competition in the area
    >you are building? What are
    >they charging, what features
    >do they have (maybe a couple
    >of nights 'research' is in
    >order? Tax deductible dale ???
    >hehehe)


    Funny enough, yes, it is tax deductible.
    Have fun

    Dale
     
    Last edited by a moderator: 5th Apr, 2017