Mothers day in IP. Please make suggestions RE: PM.

[Ruff investment]

My mum is brilliant. She doesn't judge me for having IP. When things go a bit wrong, she is there to lend an ear. But mostly I love my mum because she is awesome at jumping in and lending a hand. Yes, even on Mothers day. Depressed from spending time at the IP, renovating, cleaning and renovating I was getting really good at sidetracking what had to be done. No way can I get away with that with my mum staying over. She completely understands where I am coming from with the IP, and has just gone through a similar thing last month.

Much discussion occurred around PM's and VCAT hearings. And much was taken on board. How to add up all the costs and quotes and getting organized. We are up to over 9K of damage, just for quotes for work to be done. It is a daunting figure. The bond is only $760. Talking to my parents made me realize just how angry I was. It also made me really angry at the standard to which my property manager was handling things. So I bit the bullet and rang the police to see what needs to be done to lodge a police report and go down the road of getting insurance to at least cover some of the damage. They also suggested that if my property manager doesn't lodge the VCAT application tomorrow, to lodge it myself at a cost of $34. Already the PM has taken 24 days, 28 days and the tenant can get their bond back.

So after lunch, and after some help with VCAT issues she was keen to go over to the IP and clean. Now my mum is the best cleaner EVER! She is awesome. Her attention to detail is so superior when it comes to cleaning. A skill that is very valuable but undervalued, and she has many, many more skill sets. My Step-dad is also a hard worker, head down 'get it done' kind of person and has renovated quite a few properties. He is equally awesome. And has a whole host of other skills as well.

So our Mothers day was spent renovating and cleaning. And having my mum and step dad there made it actually enjoyable. Me and mum work so well together slowly plugging away and cleaning the kitchen. It took all after noon, 5 hours in total with the two of us, non-stop. But we just kind of worked in together and made small talk. It was really pleasant to be honest. Sometimes we don't get along, and have heated arguments at times. Somehow scrubbing away at filth we just 'get it done' and don't argue at all. It was really nice to just work together.

DH and my step dad get along well too, and both are picking up tips on renovating together. Plastering up holes and doing the plumbing work for the new vanity unit.

My children (5, and 3 years) are also pretty cool little people, who I love dearly. Thinking up games and fun, just in an empty property. No toys required, just imaginative play. It was great to see their little imaginations at work. They also brought me a warm and snugly set of PJ's with their dad.

So that was how we spent Mothers day, with three generations all working together

I'm posting here because I'd also love to hear other peoples experiences of PM's, VCAT, and claiming damages through insurance in Victoria. Because I'd love to learn from other peoples mistakes rather than make my own. That is a bit cheeky isn't it! Feel free to comment.

 

[matto_]

Its always nice to have a supportive parent/s, to both listen and help.

 

[wylie]

When I was 15 I helped my parents paint their first IP. I'm 51 now. I do recall about six or seven years ago sitting down with Mum and counting the times we have done "something" to a rental house or one of our own houses (ours or theirs). We got to 30 and I believe it would be close to 40 by now.

We've painted (lots of times), ripped out and put in new bathrooms and kitchens, had decks added, done several major renos on our own places, and done most of that ourselves. Early days we did it ourselves due to not having the money to pay tradies. Latter times because it is something we enjoy (thought I did state during that last reno together that this was the last house I would be painting for Mum, which turned out to be true, but not in the way I meant it).

We did all that with our kids mostly in tow, or often hubby and I would do the hard work while Mum fed and bathed the kids at her house or ours. The kids grew up being able to wield a hammer and paintbrush. It amazes me that some kids have no idea how to go about using a screwdriver or paint roller.

Two years ago, just two months after doing a minor renovation (total internal repaint, new patio area, landscaping) for a house Mum wanted to sell, she passed away at age 73. She was up and down painting trestles with me at age 69 in one of our IPs that we bought and renovated. She was a ball of energy and I loved working with her (and Dad until he got Alzheimers and couldn't manage) and often we would all be there. Me, hubby, three kids, Mum and Dad, my brother and sometimes some of his brood.

I have very fond memories of sitting around on paint tins, chatting, discussing what we do next, which wall to rip out, how to best rip out the kitchen and I do miss that.

 

[Ruff investment]

Wylie,
What a wonderful story Thank you so much for sharing. Sometimes I feel like it is to the children's detriment that they are basically on a renovation site. But when they play like they were, I think that they are lucky to have nothing but their imagination to explore. My kids aren't much help at this age, but they are learning lots. Watching and learning.

I am starting to feel much more positive about this IP, and how the renovation is progressing. I feel my enthusiasm building again. My thoughts are turning towards another IP! Shame our bank balance can't accommodate it at the moment at all. But I am happy that the thoughts are there and positive.

All the floors are getting sanded and by Thursday all the floors will be lovely polished floor boards. After a few of my renting friends suggested for one or a combination of the following reasons;

1. They don't want to live in someone else's filth
2. They have allergies in their families.
3. They wouldn't have to get the carpets professionally cleaned after the lease.

We don't know if we should rent it again or sell and cut our losses. But I'm leaning towards renting it out. This forum has started to make very much a positive impact on my thinking towards IP's.

I can't wait to post a couple of pics, I guess in the "adding value" bit. Be over there soon.

 

[dragonlady309]

Yes - we are lucky!

Our children are 10 and 7 and we have had IPs all their life - they have seen the hard work and effort that goes into having houses and unit blocks s investments. They understand that the rent pays the mortgage and they will, in the end, be ours! Like your children they play but my 7 year old is becoming a fantastic help (although her enthusiasm is better than her cleaning but I am not going to argue!). They help weed. Mum and dad have been known to come and roll up their sleeves too but are getting a bit old now. Both kids understand and watch property shows with us. The 10 year old knows all about interest and the money market. We also drag them to our property group meetings every second month where a dozen or more of us chat about our investments. I do feel sorry for them sometimes but when my 10 year old opts to buy used ds/xbox games instead of new to save money then I know they understand the meaning of money!

 

[dragonlady309]

Oops - I forgot.....

When was the last routine inspection? Surely it couldn't have been more than 6 months ago. Did the routine inspection reports and photos mention anything was going on?

 

[wylie]

One lovely memory I have is when we were doing a reno (remove walls, new kitchen, new patio/bbq area) for a house my parents planned to sell.

Hubby and I helped Mum and Dad. Our three boys came along to help and the youngest was probably about 4. This house had no room for a wheelbarrow up the side so all the pavers had to be delivered to the footpath and hand carried to the back yard.

There were about four half pavers that had been broken. We each picked up a comfortable load and did dozens of trips. The little chap couldn't manage a whole paver, but could manage a half-paver. Between us all, we made sure that one of the broken pavers was always brought down so that the youngest chap could carry that half paver up. He carried one of the half pavers up dozens of times, without ever knowing it was one of only four that were being brought back down by whoever was behind him for that trip .

We laugh about it now, but it was priceless at the time and something I recall with a smile.