Current Category: APIA Q&As
Empty rental and tenant wanting to pay in arrears!
Q: I have a rental property that has been sitting empty for the last 15 weeks, a potential tenant who has expressed a lot of interest wants to take it over but requests that he pays in arrears rather than in advance. What can I do to make sure that he does pay at the end of each month?
A: It does not make economic sense to have it empty for 15 weeks. Get the rent down and get a decent, paying tenant. For ever week it is empty you lose say $400pw, in four weeks that makes $1,600. Spread t...
posted in: Market Rent, Landlord: Trick of the Trade, APIA Q&As
Checklist before purchasing your next residential property investment!
Q: Can you please point me to a good checklist before buying a residential property investment?
Rod
A: Checklist to keep in mind when searching for Investment Property.
Condition. A diamond in the rough is always nice to find, however like the old saying goes, if the price seems to good to be true it probably is. Always factor in the price of any necessary repairs and renovations when making a decision to purchase. Sometimes it is easier and cheaper to buy a better house, rather than f...
posted in: Property Market, Investment Advice, Landlord: Trick of the Trade, APIA Q&As
Flatmate vs Sub Tenants
Hi, I subleased part of my rented property to a couple who opened a letter addressed to me from my landlord which contained details of the rental payment I make on behalf of the whole flat. They then decided that I was charging them too much and without any notice reduced the rent payment into my account. When I confronted them I had to explain that the sublease payment had been divided up equally among all tenants and I added $5 on top each week because I pay for all the household amenities s...
posted in: Landlord Rights and Obligations, Tenancy Issues, APIA Q&As
Consolidating properties within the family
My brother and I currenly own one rental property under a LAQC. We both work full time and are financially sound. I own 95% of the LAQC, my brother 4% and a family trust has the last percent. This property makes a paper loss. The house my parents live in is also under a family trust with my parents as the trustees and my brother and I the beneficiaries. They also own another rental property under their own names which makes a small loss. Because the family house is too big for my paren...
posted in: Finance, Asset Structuring, APIA Q&As, Taxation
Investing Offshores
I want to start expanding my portfolio to include the Australia and a couple of Asian countries and would like to know what are the issues I should consider before making this leap?
Anon
The property market in Australia is similar but not the same as New Zealand is the first thing to remember!! It is a great place to own investment property however many aspects need careful consideration. Nothing is a problem provided one is aware of the requirements. What type of property would best fit...
posted in: Finance, Offshore Investment, APIA Q&As
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