Archive for the ‘Question Time @ mrd’ Category

What Do You Think Of Tenant’s With Pets?

Friday, September 19th, 2008

A few months ago my wife and I received an email from one of our property managers on this exact subject. Here is an exact copy of the request we received:

Hello Nick, Sorry to worry you when you are away. Your tenant has asked if you would object to her getting a cat. She has always had a cat and misses having one around for company. Would appreciate your response when convenient.

As I was traveling, I “hand balled” this to Katrina (my wife) saying that I had no objection if she didn’t and for her to respond to our property manager. Katrina’s reply to me was as follows:

I have said Yes to this based on having the correct clauses in the contract to cover any damage etc. I don’t have a problem with it as Belinda feels she will be a long term tenant.

Our agreeing to allow our tenant to have a cat came up came up in conversation with a friend some months later to which our friend questioned me: “Why would you let someone have a cat in your property”? My reply was very simple: “Because this is her home, it’s just our investment.

Obviously we want to ensure that our properties are properly cared for, however, my tenant is my very high priority and I want to look after her and have her feel at home. Besides, with so few vendors prepared to allow small pets I can be pretty sure that I will hang onto my tenant for a long time (and at a higher rent).

Fortunately for her, the Body Corporate has said OK to small pets; however, this is not always the case and is sometimes the reason why a vendor must say no.

The Pros And Cons Of Selling Property By Auction

Friday, September 12th, 2008

Question Hi Nick and the team, can you enlighten me on the pros and cons of Auction sale for a property. When would one opt to use Auction as oppose to Private Sale and vice versa? Thanks, John Question Time
Answer Hi John and thanks for your question. While it may be advisable for some on the odd occasion, I don’t ever sell investment properties so it is not something that I have had experience with.

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ABN & GST Registration for Property Investors

Friday, September 5th, 2008
Question My Finance Broker Said I Should Have ABN & GST Registration But My Accountant Said It’s Not Needed. Why Would They Differ In Their Opinion Please? Question Time
Answer They are both right! It all depends on what you are trying to achieve. I am not going to give you financial advice nor tell you to ‘defy’ your accountant but I tend to agree (more) with your Finance Broker. Let me give you my opinion…

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