Vic Daniel Andrews and the Statue of Limitations

[Gralin]

Last time we were looking to buy we found a few places we liked that we couldn't put an offer in on because the tenants lease didn't expire in time for us to be able to move in.

The place we eventually bought was vacant and had been a rental it's entire life.

The former owners had not maintained shit, we've sorted most of it out now but we've also had to fix some building defects that they ignored because they weren't living in it.

Shit developers+investors means we've got tons of sub par housing stock with shit appliances

 

[Golden_6]

Who said it did? The average length of time the property is off the market from when the landlord puts it on the market until settlement is 3-4 months. There is no guarantee another investor will buy. In fact in the current environment it is unlikely. So the best you can hope is that a first time buyer buys and takes pressure of the rental market but if it’s a pricey property, then first home buyers are ruled out. Or it could be like what I did with the investment property my wife and I had. Our daughter who had been living with us has moved in and she and her partner will buy it from us. Then there are property owners who have turned to Airbnb and Stayz.

So to say this will have zero impact on the rental stocks is wrong. See the article I posted earlier:

Exodus of Australian Landlords Driving Up Rents

Exodus of Australian Landlords Driving Up Rents

www.accreditedbroker.com.au

I’m still firmly of the belief that the one policy decision the Government has available to them that will have a beneficial impact is a hefty tax on short term rentals. Short term rentals do nothing for the property market but take available housing stock away and pump up returns to investors.

I’ve had countless clients ditch long term rentals in favour of Airbnb & Stayz and generate much better returns. We need to disincentive that and look to get these landlords back into the long term rental market and assist in easing supply shortages.

 

[Ghost Patrol]

It’s a risk the landlord takes to maximise the sale price. You haven’t tried selling a property? These days the properties are staged with furniture. They must be impeccable for opens for inspection, etc.

I’d be amazed if any landlord left tenants in the property and tried selling. Tenants have no obligation to help the landlord by cleaning the house and they can claim compensation for every open for inspection.

lol staged furniture. You've been watching to much of The Block.

 

[Sttew]

lol staged furniture. You've been watching too much of The Block.

Never watched the Block!

Don’t embarrass yourself pretending to know everything! Ask agents. Ask people who have sold properties. There are companies that specialise in fitting out houses and apartments during sales campaigns.

 

[Sttew]

lol staged furniture. You've been watching to much of The Block.

“About 28% of listing agents stage a seller's home before putting it up in the market. 40% of buyers arrange to look at the home they have seen staged online.”

https://www.thezebra.com/resources/research/home-staging-statistics/#:~:text=About%2028%25%20of%20listing%20agents,they%20have%20seen%20staged%20online.

 

[Nuggs Bunny]

Never watched the Block!

Don’t embarrass yourself pretending to know everything! Ask agents. Ask people who have sold properties. There are companies that specialise in fitting out houses and apartments during sales campaigns.

They're tickling your balls mate. This is like getting the super deluxe luxury car wash at Chadstone.

 

[Ghost Patrol]

“About 28% of listing agents stage a seller's home before putting it up in the market. 40% of buyers arrange to look at the home they have seen staged online.”

https://www.thezebra.com/resources/research/home-staging-statistics/#:~:text=About%2028%25%20of%20listing%20agents,they%20have%20seen%20staged%20online.

How much did you pay for this stage production service?

 

[Sttew]

How much did you pay for this stage production service?

That’s alright ghost patrol. I appreciate you’re not an expert on everything and that you didn’t need to mock my posts when you really had no clue about staging.

I haven’t used it, but i Know it can cost 1000’s

 

[Kwality]

I bought my townhouse development with a tenant in it and extended the contract for another 6 months while I sorted out the building permit. Why would you want to hold an empty house if you are an investor? Four months rent is $10k - who is giving up that?

And lmao at having to stage your house with furniture. All of my sales have been off market, three without a real estate agent at all.

Interesting that you have the time to do that. Are you in a role associated with real estate?

 

[Ghost Patrol]

That’s alright ghost patrol. I appreciate you’re not an expert on everything and that you didn’t need to mock my posts when you really had no clue about staging.

I haven’t used it, but i Know it can cost 1000’s

Artificially inflating prices by staging is great for landlords?

 

[Sttew]

Artificially inflating prices by staging is great for landlords?

Anyone can use the service. FMD

 

[Gralin]

Staging is pretty common

 

[Ghost Patrol]

Staging is pretty common

Driving the reserve price up. What a bullshit industry, full of parasites.

 

[Gralin]

Driving the reserve price up. What a bullshit industry, full of parasites.

Oh I don't disagree.
But it's common

 

[Kwality]

That’s alright ghost patrol. I appreciate you’re not an expert on everything and that you didn’t need to mock my posts when you really had no clue about staging.

I haven’t used it, but i Know it can cost 1000’s

Sold family home early days of covid, furnishings alone cost around $2k - my only regret was not giving the kitchen a spruce up. The knock on the house (10 years old) was it was dated & that meant a sale $20k below what we thought we'd get.
We were planning a tree change & wanted to be able to offer cash & it appears to have worked for us financially, selling and buying in a weakening market.

 

[Sttew]

Driving the reserve price up. What a bullshit industry, full of parasites.

You’ve never sold a property? Let me assure if you one day do sell and the agent tells you the property needs some staging to boost the price you won’t say “that’s bull shit. I don’t want best possible price” unless, unless…

 

[TheEscapeClub]

I’m still firmly of the belief that the one policy decision the Government has available to them that will have a beneficial impact is a hefty tax on short term rentals. Short term rentals do nothing for the property market but take available housing stock away and pump up returns to investors.

I’ve had countless clients ditch long term rentals in favour of Airbnb & Stayz and generate much better returns. We need to disincentive that and look to get these landlords back into the long term rental market and assist in easing supply shortages.

No government assistance whatsoever for investment properties in the short term markets. No negative gearing, no CGT discounts, all you get is the remaining capital gains after you've paid 100% capital gains tax when you sell.

Landlords in the long term rental market complain about bad tenants trashing their properties, fine, the taxpayer will pay your insurance premiums and if your property is out of action while being repaired due to a bad tenant then you will be paid market rates rent during that period (like defence homes).

As the landlord, your property has to be safe and habitable and lease terms must be at least 12mths any shorter duration can only be at the request of the tenant.

These incentives will only be available to domestic buyers.

 

[Crankyhawk]

How much did you pay for this stage production service?

I think it cost around $5k; tax deductible as well, and I think it did increase the selling price by more than that (got significantly over my expectations) when I did sell (2018)

 

[Golden_6]

I think it cost around $5k; tax deductible as well, and I think it did increase the selling price by more than that (got significantly over my expectations) when I did sell (2018)

Staging isn’t tax deductible but it would be added to the cost base of the property to reduce any capital gain.

There’s lot of things that are done to make properties look more presentable that owner occupiers and investors do. Another common one is agents photoshop the grassed areas in photos to make them look lush and green. You then go and inspect the property and the grass is dead and brown.

 

[Dirty_banchez]

How much did you pay for this stage production service?

Staging properties is extremely common. People lack imagination, so if they go into a property with furniture etc... they can start to see potential in the property.

How do you not know this?

 

[Ghost Patrol]

Staging properties is extremely common. People lack imagination, so if they go into a property with furniture etc... they can start to see potential in the property.

How do you not know this?

I knew about it, but don’t consider it an essential service.

Also, my house has character, it doesn’t need a fake stage production.

 

[Saint]

I knew about it, but don’t consider it an essential service.

Also, my house has character, it doesn’t need a fake stage production.

When we sold our townhouse, the agent brought in a car load of stuff I presume she uses at every place to stage an outdoor setting (we didn't have one) and some additional cushions etc. Brought them in for photos and inspections and took them away after.

I'm not surprised that for tenanted properties who would have a lot less furniture (and worse quality) than owner-occupiers would require such a service of their agent.

I would think that for any property worth over $700k, the better staging benefit would outweigh the rent loss. Also very much depends on the tenant. A messy family would be very problematic for a sale, as would pets. A DINK situation would be probably a lot easier.

 

[eddiesmith]

When we sold our townhouse, the agent brought in a car load of stuff I presume she uses at every place to stage an outdoor setting (we didn't have one) and some additional cushions etc. Brought them in for photos and inspections and took them away after.

I'm not surprised that for tenanted properties who would have a lot less furniture (and worse quality) than owner-occupiers would require such a service of their agent.

I would think that for any property worth over $700k, the better staging benefit would outweigh the rent loss. Also very much depends on the tenant. A messy family would be very problematic for a sale, as would pets. A DINK situation would be probably a lot easier.

I was surprised that next door sold their place without removing the tenant first, looking at photos he had an interesting decorating style.

But the place remained on the market for a while until finally being sold and the new owners kicked the tenant out.

 

[Sinjin Smith]

There was an incident in 2019 in Canberra with a hostel door as well.

He has an alcohol problem. He needs help. Not that it an excuse.

 

[Gralin]

He has an alcohol problem. He needs help. Not that it an excuse.

he was meant to get help after 2019

he's claiming innocence and the Police issued a statement saying no victim has come forward to press charges so they won't be looking into the matter unless they do