Woodridge/Logan Central or Mt Druitt/St Marys???

ahh well done for those rents, I have no idea how you get such high rents,

but my last purchase in 4114 was a 3bdr highset, purchased jan 2014
$195k, spent $10k, now renting for $320pw
 
TMNT said:
ahh well done for those rents, I have no idea how you get such high rents,

but my last purchase in 4114 was a 3bdr highset, purchased jan 2014
$195k, spent $10k, now renting for $320pw
Click to expand...

That's an AWESOME price, TMNT, for a highset house!!!! :)
And an awesome return.
I don't know how you did that!!! WAY COOOL!
(Sending admiring glances your way! :cool::cool::cool:)
 
Beanie Girl said:
That's an AWESOME price, TMNT, for a highset house!!!! :)
And an awesome return.
I don't know how you did that!!! WAY COOOL!
(Sending admiring glances your way! :cool::cool::cool:)
Click to expand...

hang on a minute beanie,

you are getting 450 and 550 for your logan props!!

thats awesome!!!!!!
kudos
 
TMNT said:
you are getting 450 and 550 for your logan props!!

thats awesome!!!!!!
kudos
Click to expand...

My cost base for those IPs are more than 195k, TMNT and I don't have 24 IPs like you do ;) So seriously, yours is an achievement that has much to be emulated, especially having to bounce back from tough circumstances like you had to. Hats off, a a salute and definitely kudos! :)
 
Beanie Girl said:
Hi TMNT, dual living doesn't necessarily mean you have to rent out top and bottom separately as separate tenancy contracts. 'Dual Living' can mean you have a teenager or elderly parent who wants to have their own separate space downstairs.

You won't get this type of property being quoted at 240K in this market in Logan anymore. Even 3 bedrooms/1 bathroom are being quoted for 279-299k at least. How the market has hotted up in the last month or so!
I hope I didn't contribute to it, hahahaha!

But for the record, yes, you are right, TMNT, 'dual living' in the sense of separate tenancy is being cracked down in Brisbane City Council suburbs, ask RPI. Not in Logan City Council suburbs. In fact the Draft Logan Plan regards dual living(dual key), dual living (2 houses on one title, duplexes, split-levels) and granny flats in a positive light (if all stays true to the draft).

No, my rentals in Logan are not fully furnished or 'dual living'. They are single tenancies. No separate tenancies in any one house even though 2 houses are legal height and have separate entrances.
Click to expand...

Hi Beanie Girl,
I am very interested in how you go about this, I have a place in Tingalpa which was owner occupied and they built a granny flat attached to the side of the house. Do you get the PM to advertise as "dual living" and sign up with one lease? Is this advertised through the normal channels or do you specifically target Gumtree etc?
 
8fold said:
Hi Beanie Girl,
I am very interested in how you go about this, I have a place in Tingalpa which was owner occupied and they built a granny flat attached to the side of the house. Do you get the PM to advertise as "dual living" and sign up with one lease? Is this advertised through the normal channels or do you specifically target Gumtree etc?
Click to expand...

agents arent allowed to advertise as dual living if they arent legal height or legal, they can get into a lot of trouble.

however, many tenants know this and they can read between the lines or "attached dwelling" and will use it the way they want,

I dont think agents are allowed to accept separate payments from different tenants as well, but that might have been an agency policy and not law
 
Thanks Truly Exotic, I am not really interested in an under the radar type separate tenant arrangement with me having to supply separate phone lines, include electricity, put up a letter box all in my camouflage outfit in the dead of night so the council does not find out. RPI has well and truly frightened me away from such thoughts with his informative open honesty as to the consequences (kudos mate).

I am interested in the family that has grandma/newly married son/daughter living with them and is willing to pay a reasonable premium for a separate area. ATM the place is a 3 bedroom, house with another 1 bedroom/1 office come bedroom built on the side with separate driveways and I am getting 5.3% yield on the latest val.

I have given up on BCC leaping into the 20th century and actually allowing granny flat type accommodation and hence a cheaper option for people wanting to live 13km to Ann St (actual travel distance).
 
8fold said:
Hi Beanie Girl,
I am very interested in how you go about this, I have a place in Tingalpa which was owner occupied and they built a granny flat attached to the side of the house. Do you get the PM to advertise as "dual living" and sign up with one lease? Is this advertised through the normal channels or do you specifically target Gumtree etc?
Click to expand...

Truly Exotic said:
agents arent allowed to advertise as dual living if they arent legal height or legal, they can get into a lot of trouble.

however, many tenants know this and they can read between the lines or "attached dwelling" and will use it the way they want,

I dont think agents are allowed to accept separate payments from different tenants as well, but that might have been an agency policy and not law
Click to expand...

Hi 8fold & Truly Exotic,

This is an instance of a house with a granny flat that is advertised as "dual living in 'suburb name!" . This is where the granny flat is attached to the house and has its own separate everything including its own laundry. Probably similar to your house, 8fold?

http://www.realestate.com.au/property-house-qld-runcorn-116456419

Truly Exotic, I've also seen heaps and heaps of homes advertised for dual living for rent like this one

http://www.realestate.com.au/property-house-qld-rochedale+south-412663651

8fold, if your house has a granny flat attached to the house, from a lay IP owner's point of view, I don't see why you can't advertise it as 'dual living' for rent. The tenants can house a teenager in there, or grandma/grandpa or a relative/friend.

I had a property that was not legal height but had 3 beds up, 2 beds down, 2 kitchens, 2 bathrooms etc. It was advertised as 'dual living' not for the purpose of attaining separate tenants agreement but to let families know that if they rented the house, they could have their own space allocated to different members. It was rented out to a working middle-aged grandma, her daughter who used to work but is now on Centrelink because of injury at work and her disabled grandson. I didn't use gumtree, it was advertised on re.com.au

I'm not an expert on rea laws by any means. Truly Exotic, is it illegal for an agent to advertise for dual living when a house has an attached self-contained granny flat at the side?
 
8fold said:
Thank you both for the replies, Beanie Girl that is very helpful for my situation. Looks like some homework to do.
Click to expand...

Hi 8fold, I've even seen the term 'dual living' used when the downstairs was not self-contained and had maybe just a rumpus room/tv room and not even a toilet! The ad says 'space for the teenager'. Or the ad says 'man-cave!' and a huge fridge and telly is stuck in the utility/rumpus room. Ha,ha,ha! :D
 
You must log in or register to reply here.

Similar threads

S
Where to buy first investment property
Replies
14
Views
3K
jpcashflow
J
D
Should u buy in Pimpama, Ipswich, Woodridge or Toowoomba
Replies
4
Views
4K
donny17984
D
G
St Marys/Colyton Vs Old Mt Druitt Vs rest of 2770 (DOH areas)
2
Replies
21
Views
4K
skater
skater
beachside
Logan suburbs - the other part, south of the Logan Motorway
Replies
8
Views
3K
hugh72
H
J
St Marys vs Penrith vs Mt Druitt?
2
Replies
30
Views
7K
MsAli
MsAli
Back
Top