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  • BJMac
    replied
    Howdy brainstrust,

    Wondering if anyone on here is, or can recommend, a building inspector. For a new house construction handover.

    Sent from my SM-N915G using Tapatalk

    Leave a comment:


  • rod
    replied
    Originally posted by Pk View Post
    Capital gains tax. Your Principle Place of Residence is pretty much the only investment you can get tax free. If you decide to rent it out, the period of which you leased it will be factored into your tax free amount (ie your tax free amount is portioned to the number of years you have it rented)
    That depends on how long it is rented out for. You can rent out your PPOR for something like seven years before you need to calculate any sort of capital gains tax, I believe.

    Leave a comment:


  • Halo_2
    replied
    Con:
    Trying to find someone to rent a larger house in the current economic climate.
    People are having trouble renting out a cheap house.
    Last edited by Halo_2; 13-06-2017, 12:23 PM.

    Leave a comment:


  • JaR6d
    replied
    That's a big one, cheers.

    From some quick research, it look like we could rent it out for up to six years, then move back in and still be exempt from CGT as we won't be buying another place. Does this sound right (i understand the best advice is someone who deals with this legally, but just getting an idea)?

    Leave a comment:


  • Pk
    replied
    Originally posted by JaR6d View Post
    What are some of the hidden pitfalls/bonuses of renting out a place you own for while living in a rental?
    Idea being we can downsize for now and pay less in rent than what we can get for our own house.

    Pro:
    Can claim interest payments (which will be more than the rent earned) and other standard rental deductions, saving $$$ that will be put back onto the mortgage.

    Cons:
    Have to live in a rental and not our own house.
    Possibility of shit tenants
    Possibility of not being able to rent out our own place.

    Anything I'm missing?
    Capital gains tax. Your Principle Place of Residence is pretty much the only investment you can get tax free. If you decide to rent it out, the period of which you leased it will be factored into your tax free amount (ie your tax free amount is portioned to the number of years you have it rented)

    Leave a comment:


  • JaR6d
    replied
    What are some of the hidden pitfalls/bonuses of renting out a place you own for while living in a rental?
    Idea being we can downsize for now and pay less in rent than what we can get for our own house.

    Pro:
    Can claim interest payments (which will be more than the rent earned) and other standard rental deductions, saving $$$ that will be put back onto the mortgage.

    Cons:
    Have to live in a rental and not our own house.
    Possibility of shit tenants
    Possibility of not being able to rent out our own place.

    Anything I'm missing?

    Leave a comment:


  • chew
    replied
    Originally posted by MikeL View Post
    By not getting bad tenants to start with, if you have a good agent. They have access to quite a bit of useful info.



    My experience is that it helps a whole lot when you get into the situation where you need it.
    Again, if you have a good agent.
    Really, I've never met one.

    This may be the case when it is a Lessors market but now that the tide has turned, be careful and cover your own arse.

    Leave a comment:


  • MikeL
    replied
    Originally posted by chew View Post
    And agents help with that how?
    By not getting bad tenants to start with, if you have a good agent. They have access to quite a bit of useful info.

    Originally posted by chew View Post
    Granted, they know the legal options, not that it helps a lot.
    My experience is that it helps a whole lot when you get into the situation where you need it.
    Again, if you have a good agent.

    Leave a comment:


  • chew
    replied
    Originally posted by Halo_2 View Post
    Only problem is when you get feral tenants that trash the house/not pay
    And agents help with that how?

    Granted, they know the legal options, not that it helps a lot.

    Leave a comment:


  • Halo_2
    replied
    Only problem is when you get feral tenants that trash the house/not pay

    Leave a comment:


  • Sprint
    replied
    I used to pay 10% plus two weeks rent leasing fee, costs for regular inspections and reports... postage and petties, what a fucking rort.
    I finally pissed the incompetent arseholes off and went direct, and it made (unit) investment better in every way.

    S.

    Leave a comment:


  • Halo_2
    replied
    I though it was 4%

    Leave a comment:


  • mute
    replied
    Originally posted by wiggles View Post
    The Perth Rental market is pretty much stuffed from a land lords perspective, and has a high vacancy rate. If you put the vacancy rate together with most property managers wanting 8-10% plus other fees, you will be in front.
    Is that seriously how much property managers get?? From a renters perspective, they seem to do nothing to earn that coin. Have heard complaints from owners i know as well

    Leave a comment:


  • GsxInShed
    replied
    Seems homeowners now face a "vacant property" tax... if , indeed, you are renting out that property...

    and haven't been able to get that -lazy good for nothing - property manager to --get off their fat lazy arse--

    And use the funds you are losing ,from vacant house..rental losses ......to advertise... FFS and get a reasonable tenant to help bolster you ailing income...FFS ( did I say FFS..?)

    Leave a comment:


  • wiggles
    replied
    Your house will have to meet specific criteria to get the DHA on board. If they do take your unit it is theirs for the term of the lease, no coming back to them in 3 years and saying I want to move back in.

    The Perth Rental market is pretty much stuffed from a land lords perspective, and has a high vacancy rate. If you put the vacancy rate together with most property managers wanting 8-10% plus other fees, you will be in front.

    Good luck.

    Leave a comment:

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