Agent Listing property without Signed Rental Contact

Hi Everyone,



I wanted to rent a unit in Hornsby and initially wanted to manage it myself so I put the rental listing on gumtree.



Later on that week one of the property agents in the area phoned after looking at my gumtree advertisement and came over and gave me a quote for the management fees 4%+GST to manage the unit through their agency.



I asked them to leave the contact with me and I will sign it and then return it back once I have made up my mind to give them the listing.



Next day the agent phoned me and said that he has already put the advertisement for my unit on realestate.com.au and domain through their agency!!! This happened about 1.5 week ago. Photos taken from another property listed in the complex.



I am now not happy as I don't like the property manager as he did not show up for the open home this Saturday and I want my unit to be managed by another agency.



What can I do ? I feel this agency has fobbed me into giving them the lease property management listing. I have not signed anything. Can I just ask the agency to cancel my listing ??



Please help..

Agent Listing property without Signed Rental Contact

Building A Few Units in Melbourne

Until recently my development experience has been limited to SE Qld where the rules for developing are pretty well laid out and as long as you tick all of the boxes or show how your ticks fit inside the boxes then you are good to go. I'm looking at preparing a feaso on a small development in Melbourne (two or three units behind and existing house) and can remember a reply to one of my posts along the lines of 'It's not like that in Melbourne' and 'The allowable density is about how good your designer/architect is'.



I'm my designer and I've been reading through the Melbourne Planning Scheme for a few hours - specifically Clauses 32 and 55 - and I've been Googling and searching the forums for info but now I'm looking for someone to point me in the right direction. Can someone either let me know where I should be looking (posts / threads/ websites / documents) or give me the lowdown and how I can figure out the density requirements for a given block or zone?



I have a feeling that I may approaching this wrong, which is from an SE Qld point of view, so any advice will be great.

Building A Few Units in Melbourne

PM recommendation for Point cook

Hi SSers,



Any one can recommend PM for a property in Alamanda estate, Point Cook.

PM recommendation for Point cook

Interest savings by using creditcard

Hi,

I always read about people using their credit card to pay for living expenses throughout the month and putting all wages into an offset account to save on interest. I have made a few calculations based on a simple example and wanted to make sure my thinking was right.



Example

Mr Smith wants to know how much interest he would save per month on his home loan if he put all of his wages into his offset account and used his credit card to pay for living expenses. The credit card is paid on the due date (ie no interest paid).



Assumptions

Income: $5000 per month net of tax (he gets paid monthly at the beginning of the month)

Living Expenses = Income (ie does not save)

Credit Card: 30 days interest free, due at the end of the month.

Interest rate on mortgage: 5% pa

Mortgage repayment: Interest only



Month 1

Day 1: Account balance $5,000

Day 30: Account balance $5,000, minus credit card payment ($5,000) = $0



The interest saved by having money in the offset for the month is [$5000 x 5%]/12 = $20.83



Month 2

Mr Smith now has surplus funds of $20.83 as he saved on interest from previous loan repayment.

Day 1: Account balance $5,000 + $20.83 = $5020.83

Day 30: Account balance $5,020.83, minus credit card payment ($5,000) = $20.83



The interest saved is [$5,020.83 x 5%]/12 = $20.92



Month 3

Day 1: Account balance $5,000 + 20.83 + 20.92 = $5041.75

??????.And so on.



I have done a quick excel spreadsheet and after 12 months of this the interest saved over the year is $234.



I just wanted to make sure my thought process was correct. Saving on interest is always good but it is a lot less than what I thought it would be by using this method.



Your thoughts on this are appreciated.

Interest savings by using creditcard

Renting furnished and tax query

If renting a property furnished, do you need a new depreciation schedule or do you just give a list of furniture/furnishing assets to your accountant?



I'm thinking the latter as it's not like you get a new depreciation schedule done if you say add a patio, or do a small renovation, but I may be wrong ?



How about if some assets are not new, do you just use approximate values ?

Renting furnished and tax query

My dad and his digs

Hey guys,



Just trying to help my dad out with some numbers.



My dad and I went halves in an apartment around ten years ago



Purchase price including stamps etc $360,000. He bought his half outright and I got a loan for $180,000



I'm selling my half to him at an agreed value of $530,00 + he is paying $10,000 stamp duty



He is getting a loan for $275,000 to purchase @ 4.69% or $245/week



The unit is currently rented out at $475/week



Other expenses include:

Strata $3200/year

Water $1000/year

Rates $$1400/year



Now he was wondering if he moves into the unit in a few months and rents out the other room what can he claim? If anything at all?



Can he claim the $275,000 loan or just half of it? Or none of it. Same is with the other expenses. He loves the location and would love to live there.



Thank you for any responses.

My dad and his digs

How much do you tell your agent?

We are going to be selling our PPOR soon and I was wondering how much everyone else told their agents about *why* they were selling? Does it depend on circumstances?



for example, would you cover up the need for a quick sale? Would you mention death/divorce/financial difficulties? Where you are moving? etc



Do you disclose the price you are hoping to get? I would assume nobody would disclose what they are *willing* to settle for. What about preferred settlement timeframe?



Perhaps you speak in vague terms? "family reasons", "outgrown" the house "relocating closer to work" etc.



And what about "problems" with the house? Do you mention them? It may be harder for the agent to sell if they know the downside. On the other hand they may be able to gloss over it better if they are aware of it.



Thanks

How much do you tell your agent?