Many years ago my wife and I rented our home to a person with excellent references, it turned into a bloody nightmare, the tenant did wilothewisp, agent didn't notify us until a month after he vacated  cost us thousands to get it back into livable condition.

When we inspected found he had turned the power of to a fridge full of meat, laundry full of dirty flyblown nappies, you can imagine the smell, and walls graffitied.

After an enormous amount of work we got the place livable and sold it.

Will NEVER rent again.

 

 

 

 

Hard to find good tenants who will look after the place as if they own it, although some owners live
like pigs but equally as hard to get a good property manager.We've ad our share of both and have now
settled with rentals via DHA.
There are lots of reporting on TV about landlords increasing the rent by some phenomenal amounts. What
we don't get is the reason why. I suspect it's either greed or a need to increase their own income in order
to meet the mortgage rate increases. I do not think it is fair that the tenant should pay extra rent for the
landlord's owner occupied property. Fair enough for the rental. Also looks like these rentals must be off contract.

real estate is an investment that over a period of time should give you a healthy return, unfortunately it is not all peaches and cream and you can get bad tenants and lazy agents but with our negative gearing laws you should come out Infront, the tax benefits can be very helpful to some people.
any benefits that the government allows thru taxation will be returned to them thru capital gains tax when you sell, so a big win, win situation.
what Victoria has just done is discouraged people from buying a second house as they have imposed a tax, which would have been passed on to the renters but they have changed the laws and it looks like cost will not be able to be passed on, the RBA can raise interest rates every month but landlord can only increase rents annually and if the tenants don't like the amount they head for the tribunal to appeal.
will the government be spending money to build low-cost housing? i think they have created a fast buck gain with long term losses wait till all the new migrants get here!

-- Edited by dogbox on Saturday 27th of May 2023 03:44:22 PM

deverall11 wrote:

---

Here's something to think about:


SAM MCMAHON CLP SENATOR FOR NORTHERN TERRITORY 1 RESIDENTIAL,

10 INVESTMENT

Ian Goodenough Liberal Moore, WA 2 residential, 5 commercial/investment 7

Nola Marino Liberal Forrest, WA 7 agricultural/investment 7

Karen Andrews Liberal McPherson, QLD 1 residential, 5 investment 6


This is just a small portion. The rest is freely available on the internet.

KA must have a husband that earns bucket loads of money in order to get loan

approvals for 5 investment properties. In 2017 was 33.

Wonder who is their property manager.

---

how one disposes of their income should not concern other people as sooner or later those that invest in property, will be called upon to pay capital gains tax when they realize a profit, if people wish to invest in property that is their business.
i would be more concerned about all the people who expect a free ride usually at the expense of some one who invested their money, an not spent it on flash cars, expensive clothes, all the big boys/girls toys or just down the club playing pokies ect ect
if the government changes its tax policies in regards to investment properties it will cause a long term problem as rental properties dry up.
whether a person has one investment property or ten they still have to be funded eventually they become positively geared and opens the door for further investments (have a feast, eat the chicken to-day, no eggs or chicks tomorrow)

deverall11 wrote:

---

Here's something to think about:

SAM MCMAHON CLP SENATOR FOR NORTHERN TERRITORY 1 RESIDENTIAL,
10 INVESTMENT
Ian Goodenough Liberal Moore, WA 2 residential, 5 commercial/investment 7
Nola Marino Liberal Forrest, WA 7 agricultural/investment 7
Karen Andrews Liberal McPherson, QLD 1 residential, 5 investment 6

This is just a small portion. The rest is freely available on the internet.
KA must have a husband that earns bucket loads of money in order to get loan
approvals for 5 investment properties. In 2017 was 33.
Wonder who is their property manager.

---

 Sir you have your biased blinkers on, when are you going to do the same to your Labor mates.

Here's a novel idea what about, doing something with all the vacant shops in main street australia, councils change the zoning laws to allow them to be residential, then the owners given an incentive to convert them to residential, if the owners won't comply, government's  compulsory acquire them for low cost residential. 

 

deverall11 wrote:

---

Here's something to think about:


SAM MCMAHON CLP SENATOR FOR NORTHERN TERRITORY 1 RESIDENTIAL,

10 INVESTMENT

Ian Goodenough Liberal Moore, WA 2 residential, 5 commercial/investment 7

Nola Marino Liberal Forrest, WA 7 agricultural/investment 7

Karen Andrews Liberal McPherson, QLD 1 residential, 5 investment 6


This is just a small portion. The rest is freely available on the internet.

KA must have a husband that earns bucket loads of money in order to get loan

approvals for 5 investment properties. In 2017 was 33.

Wonder who is their property manager.

---

you are sounding a little greenish. these people you have mentioned will probably never qualify for the OAP
would you have any investment properties?
do you have a bucket load of super an leave it to others to invest for you with all the tax benefits thrown in?

if not how will you fund your retirement?

MR KEATING started our compulsory super with a 6% contribution which we contributed to by giving up a cpi pay rise.
so we should all (who worked) have some super to supplement your OAP if you qualify
at some point in the future super will be classified as an asset an the OAP will be fazed out.

Gundog wrote:

---

....  Sir you have your biased blinkers on, when are you going to do the same to your Labor mates.

Here's a novel idea what about, doing something with all the vacant shops in main street australia, councils change the zoning laws to allow them to be residential, then the owners given an incentive to convert them to residential, if the owners won't comply, government's  compulsory acquire them for low cost residential. 

 

---

 If you read the whole post, this is just a sample. Plenty of Labor as well. Not at the top

of the list. List is in descending order.

cuppa you say you pay 10% and claim no tax breaks ,do you declare the income

dogbox wrote:

---

cuppa you say you pay 10% and claim no tax breaks ,do you declare the income

---

 It's a very modest property & with the rental our income remains under the tax free threshold. We live frugally, claim nothing  & the rental supplements our savings which we live on. We are not required to to lodge a tax return. We submit a 'non-lodgement advice' however. We prefer this way to having to claim tax breaks for our expenses. It keeps our life simpler. We seek reliable long term tenants without raising the rent to a level where a tax return would be required.