COMMERCIAL PROPERTY INVESTORS will generally live in a residential property. So, here is something to consider when you come to buy your next home.
A recent decision in the Supreme Court of Victoria (Tan v Russell [2016] VSC 93) has made it clear that real estate agents do not have authority to receive notices of termination when purchasers seek to exercise their cooling off rights, unless otherwise authorised to receive such notices.
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MANY OF YOU are now Members and therefore, already receive my Property Briefings podcasts each month. But if you’re not, you can simply join here or by clicking on the orange logo above — because Membership is FREE.
Anyway, I’ve been regularly receiving requests about providing access to transcripts for the various Episodes — which number more than 120 so far.
THE FOLLOWING is a little-known (but should be widely-known) ATO explanation on how to calculate CGT on a property that was formerly your home that you subdivide much later. And how the principal place of residence can be lost.
WHILE REAL ESTATE AGENTS (both commercial and residential) must act fairly and honestly when advertising property, there is no doubt that underquoting is a significant problem -- predominantly in the current Melbourne and Sydney real estate market.
Although the New South Wales Government has recently proposed legislative reforms in order combat this problem, Victoria is yet to follow.
What is Underquoting?
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THE QUESTION IS: Have the major corporate tenants been “sold a pup”? Or have their Financial Controllers merely been focusing upon cost savings, rather than employee productivity?
I’M IN MY 40s … and well behind where I want or need to be. My career has stalled and the marriage is shaky because we’re constantly arguing about money. This is probably because my partner never returned to serious paid work after we had the children.
We’re far from making any dents in the mortgage. In fact, it’s actually rising slightly each year, what with the kids’ secondary education to pay for on top of all the other demands on our single income. [Read more…]
YOUR TENANT’S OBLIGATION to pay rent, care for the premises and abide by the provisions of the lease is usually secured by your right (as the landlord) to terminate the lease and recover possession.
In reality, this does little to remedy the financial loss suffered by a landlord, as a result of a breach by the tenant. [Read more…]
YOU SHOULD BE CAUTIOUS when entering into negotiations with foreign purchasers for the sale of property, due to the restrictions imposed by the Foreign Investment Review Board (“FIRB”).
Vendors should ensure that the contract of sale protects them when approval is required by the FIRB. Because, if the purchaser fails to gain approval, the FIRB can reverse the transaction. [Read more…]
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ONE QUESTION often asked by inexperienced investors is whether or not you can manage your own Commercial property.
And clearly, the short answer is “Yes” … if you know what you doing.
However, owning a Commercial property means that you do have certain legal responsibilities. And among them are your property’s compliance with the various Essential Services requirements, under current Building Regulations. [Read more…]
CAPITAL GROWTH and the type of gearing heavily impact the overall profitability of your property purchases. And so this article will explain how they can significantly affect your bottom line. [Read more…]
A RECENT CASE in the Queensland Civil Administrative Tribunal (QCAT) has brought the laws governing cooling-off periods into sharp focus. And the ability of vendors to retain termination fees where contracts are terminated was challenged.
While the laws relating to cooling off periods differ in each state, this article will discuss the general principles of cooling off periods … and what you need to be aware of when seeking to exercise your rights. [Read more…]
