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Post by DropBear on Aug 25, 2022 11:34:29 GMT 8
I see the Greens are trumpeting a new policy of enforcing a 2 year long freeze on rents. Having a rental property, I'd be very interested to see how they plan to achieve it when you consider that none of my rental related costs (e.g. council rates, insurance, mortgage interest rates, cost of repairs etc) are going to be frozen as well.
But if nothing else, we'll find out how much power the Greens have in a parliament with an ALP majority.
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Post by comfortablynumb on Aug 25, 2022 11:54:24 GMT 8
When we had a residential rental property (never again), we kept the rent well below market rate because the single aged tenant was so good and looked after the place like it was his own. I swear when we sold it, it had fewer defects than when we bought it. I was really sorry to have to make the poor old fella move again after 5yrs, but we gave him the last 6 weeks rent free.
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Post by IronJimbo on Aug 25, 2022 12:17:58 GMT 8
I see the Greens are trumpeting a new policy of enforcing a 2 year long freeze on rents. Having a rental property, I'd be very interested to see how they plan to achieve it when you consider that none of my rental related costs (e.g. council rates, insurance, mortgage interest rates, cost of repairs etc) are going to be frozen as well. But if nothing else, we'll find out how much power the Greens have in a parliament with an ALP majority. Since you own a rental property you must be rich and therefore evil So suck it up
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Post by DropBear on Aug 25, 2022 14:36:31 GMT 8
I see the Greens are trumpeting a new policy of enforcing a 2 year long freeze on rents. Having a rental property, I'd be very interested to see how they plan to achieve it when you consider that none of my rental related costs (e.g. council rates, insurance, mortgage interest rates, cost of repairs etc) are going to be frozen as well. But if nothing else, we'll find out how much power the Greens have in a parliament with an ALP majority. Since you own a rental property you must be rich and therefore evil So suck it up Trust me, only the council and the insurance company are getting rich from my rental property. Last financial year, it made a loss...and not because of negative gearing.
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Post by Peter on Aug 25, 2022 15:18:56 GMT 8
I see the Greens are trumpeting a new policy of enforcing a 2 year long freeze on rents. Having a rental property, I'd be very interested to see how they plan to achieve it when you consider that none of my rental related costs (e.g. council rates, insurance, mortgage interest rates, cost of repairs etc) are going to be frozen as well. But if nothing else, we'll find out how much power the Greens have in a parliament with an ALP majority. The greens in Melbourne only care about the cbd. Not those in the burbs. they suck
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Post by IronJimbo on Aug 25, 2022 15:21:32 GMT 8
The greens in Melbourne only care about the cbd. Not those in the burbs. they suck I'd be surprised if many of the Sydney Greens had ever been any further west than Strathfield
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Post by comfortablynumb on Aug 25, 2022 15:44:19 GMT 8
Since you own a rental property you must be rich and therefore evil So suck it up Trust me, only the council and the insurance company are getting rich from my rental property. Last financial year, it made a loss...and not because of negative gearing. I rest my case Australian obsession with bricks and mortar as an investment has had me scratching my head for a while after observing what my set and forget no stress industry super fund has done.
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Post by comfortablynumb on Aug 25, 2022 15:56:50 GMT 8
And now Albo wants a Royal Commission into Robodebt which is ancient history from a government no longer in power. We know it was a cockup. Don't waste taxpayers money on it. Get on with governing the country. Honestly, they are all sh!t!
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Post by prince on Aug 25, 2022 16:42:50 GMT 8
And now Albo wants a Royal Commission into Robodebt which is ancient history from a government no longer in power. We know it was a cockup. Don't waste taxpayers money on it. Get on with governing the country. Honestly, they are all sh!t! yep, just dont do Robodebt again. problem solved, so spend the 30 million for the royal commission somewhere else.
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Post by DropBear on Aug 26, 2022 6:23:46 GMT 8
And now Albo wants a Royal Commission into Robodebt which is ancient history from a government no longer in power. We know it was a cockup. Don't waste taxpayers money on it. Get on with governing the country. Honestly, they are all sh!t! yep, just dont do Robodebt again. problem solved, so spend the 30 million for the royal commission somewhere else. Easy to say but its amazing how stupid and blind some people can be under pressure. Some gumboot under extreme pressure from his managers and ministers to cut costs will attempt to revive it.
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Post by DropBear on Aug 26, 2022 8:20:17 GMT 8
Trust me, only the council and the insurance company are getting rich from my rental property. Last financial year, it made a loss...and not because of negative gearing. I rest my case Australian obsession with bricks and mortar as an investment has had me scratching my head for a while after observing what my set and forget no stress industry super fund has done. Just taking into account the increase in value of the property over the past 8 years, I'll guarantee that my property has been a better investment than your super. The fact that majority of years, I also get some income out it is only a bonus. Last year was the first time the property showed a loss.
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Post by Slunnie on Aug 26, 2022 12:12:21 GMT 8
I see the Greens are trumpeting a new policy of enforcing a 2 year long freeze on rents. Having a rental property, I'd be very interested to see how they plan to achieve it when you consider that none of my rental related costs (e.g. council rates, insurance, mortgage interest rates, cost of repairs etc) are going to be frozen as well. I thought that too. If they want to freeze the rent, then maybe they can freeze the interest rate.
I suspect if there is going to be a rental rate freeze that there may be lot of rent increases very shortly to prepare for it.
It would also be interesting to see how they determine the rent value as I have 2 rent values depending on services. Also if the fixed rent is for the 2 years or for a given tennant for up to 2 years.
Can you set a rent rate and then discount for the first year etc.
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Post by DropBear on Aug 26, 2022 14:03:31 GMT 8
I see the Greens are trumpeting a new policy of enforcing a 2 year long freeze on rents. Having a rental property, I'd be very interested to see how they plan to achieve it when you consider that none of my rental related costs (e.g. council rates, insurance, mortgage interest rates, cost of repairs etc) are going to be frozen as well. I thought that too. If they want to freeze the rent, then maybe they can freeze the interest rate.
I suspect if there is going to be a rental rate freeze that there may be lot of rent increases very shortly to prepare for it.
It would also be interesting to see how they determine the rent value as I have 2 rent values depending on services. Also if the fixed rent is for the 2 years or for a given tennant for up to 2 years.
Can you set a rent rate and then discount for the first year etc.
Yeah I think you're right. Rents are about to go up bigtime. Its what we're already considering. But then again we've looked at the local rental market and reckon we're about $100/week under the going rate anyway. Personally, I think this is a form of regulation that should be applied to other industries before hitting Landlords. How about we freeze the price of fuel, politicians salaries (currently $217000 Base + Allowances), tolls, alcohol and fuel excise (both indexed to cpi), payments to bludgers and so forth and so on. Alternatively, If the Greens are so keen to help those struggling from rental stress and cost of living maybe they should take a pay cut and donate the money to to help pay the rents of those who they believe need it. More chance of a Christmas day snowstorm in Brisbane .
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Post by prince on Aug 26, 2022 16:10:44 GMT 8
I don’t believe rents should be frozen but
I do believe there should be a limit of what they can be increased to. Ie I have heard of landlords increasing weekly rents up to $150 to $250 per week This is leaving many homeless here in Qld and is just a money grab by a greedy landlord. I accept interest rates have increased and the costs must be covered but there are many I suspect capitalising on the market demand.
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Post by DropBear on Aug 26, 2022 17:47:21 GMT 8
I don’t believe rents should be frozen but I do believe there should be a limit of what they can be increased to. Ie I have heard of landlords increasing weekly rents up to $150 to $250 per week This is leaving many homeless here in Qld and is just a money grab by a greedy landlord. I accept interest rates have increased and the costs must be covered but there are many I suspect capitalising on the market demand. Supply and Demand. When theres limited supply, the price goes up. When theres excess supply, prices go down. Same principle applies if its houses, car, caravans, petrol, prawns, meat, private schooling or lettuce. Take 4WDs as a perfect example. If you have one of the new Landcruiser 300 series you can actually sell it 2nd had for significantly more than the new ones. Why? because theres about a 3 year wait list for a new one and theres a lot of people who want one now. Caravans are the same. Friends of ours ordered a van and the day it was ready the dealer offered to buy it back for $10K more than they paid for it because he knew he could add another $5-10K and sell it immediately. We know our rental at the moment is about $100/week under the current market rates and we'll be putting the rents up at the end of the year (but certainly not by $100 unless the current tenants move out) but thats more to counterbalance the fact that we didn't put the rent up over the last 2 years.
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Post by comfortablynumb on Aug 27, 2022 4:50:52 GMT 8
I rest my case Australian obsession with bricks and mortar as an investment has had me scratching my head for a while after observing what my set and forget no stress industry super fund has done. Just taking into account the increase in value of the property over the past 8 years, I'll guarantee that my property has been a better investment than your super. The fact that majority of years, I also get some income out it is only a bonus. Last year was the first time the property showed a loss. Quite possibly if it is in a capital city. To know definitively, you'd need to do an IRR/NPV analysis, which takes into account all operating costs including capital gains tax on disposal and positive gearing tax impact. We got sick of dealing with tenants and the on-going maintenance issues (coastal property = more issues). Salary sacrificing into super was more appealing. I'm pretty sure our eldest (Sydney) will never own a house until we drop off the twig. Our youngest (Brisbane) perhaps? Was discussing this with an Uber driver in Syd last week. He & his wife both work, but he says he'll always be renting, can't afford to buy. Sorry state of affairs.
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Post by DropBear on Sept 16, 2022 15:22:47 GMT 8
In todays news, the Queensland Government is looking at solving the housing crisis by raising new land and property taxes. This was after they recently attempted to solve Road safety issues by raising fines, and last year by encouraging people not to travel and wearing masks during the pandemic by (you guessed it) raising fines.
Suppose they have to pay for the 2032 Olympics (that wern't going to cost taxpayers anything) somehow.
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Post by DropBear on Dec 12, 2022 6:57:16 GMT 8
I see the Greens are trumpeting a new policy of enforcing a 2 year long freeze on rents. Having a rental property, I'd be very interested to see how they plan to achieve it when you consider that none of my rental related costs (e.g. council rates, insurance, mortgage interest rates, cost of repairs etc) are going to be frozen as well. But if nothing else, we'll find out how much power the Greens have in a parliament with an ALP majority. Going to be interesting to see how the Greens are going to be able cut the compensation paid to fossil fuel producers if the Government caps the prices that those producers are going to get for their product. Will also be interesting to see how the miners and gas producers respond to Government interference in the market that caps the money that they receive. I suspect the end result will be that energy prices will be much higher this time next year than they otherwise would be,
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Post by prince on Dec 12, 2022 7:41:07 GMT 8
but the government went to an election telling us they would reduce the cost of electricity. They seem to be blaming the war in Ukraine. Funny that, the war was well and truly happening when they went to the election.
This government is getting a pass on everything at the moment and i the opposition is weak as water.
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Post by Peter on Dec 12, 2022 11:59:31 GMT 8
Its no Different to some footballer doing something dumb and then claiming a mental illness.
Its all Just bull sh!t lies.
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Post by plazbot on Dec 12, 2022 22:12:04 GMT 8
I don’t believe rents should be frozen but I do believe there should be a limit of what they can be increased to. Ie I have heard of landlords increasing weekly rents up to $150 to $250 per week This is leaving many homeless here in Qld and is just a money grab by a greedy landlord. I accept interest rates have increased and the costs must be covered but there are many I suspect capitalising on the market demand. Dubai has exactly this. In the run up to the GFC rents were skyrocketing. Since 2010 there has been a rental calculator where you input your suburb, building type and number if bedrooms and it gives an average price. Depending where you are over or under this dictates increase or reduction of between 0 and 20%. I personally just received an 8% rise for the year as we are well under the average. There is also an authority set up for disputes in the raises/reductions when a landlord tries to pull a shonkey. When a house becomes vacant though, the averages do not apply for new Tennants.
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Post by Peter on Dec 13, 2022 18:27:52 GMT 8
I’d like to see a law change here that you can only Airbnb for 2 years and then have to rent normal for 2 years. Etc…
Airbnbs are a pain in the arse. Its like A party every weekend.
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Post by FatPom on Dec 13, 2022 23:44:06 GMT 8
but the government went to an election telling us they would reduce the cost of electricity. They seem to be blaming the war in Ukraine. Funny that, the war was well and truly happening when they went to the election. This government is getting a pass on everything at the moment and i the opposition is weak as water. You could try our fuel costs on for size. Right now I'm paying: Gas - 11.3p p/kwh Electricity - 37.8p p/kwh Standing charge Gas - 33.5p per day Standing Charge Elec - 50.3p per day Diesel currently £1.89 p/l Inflation running approx 13% It's bloody frightening at the moment. (and bloody freezing!)
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Post by roxii on Dec 14, 2022 4:42:58 GMT 8
You could try our fuel costs on for size. Right now I'm paying: Gas - 11.3p p/kwh Electricity - 37.8p p/kwh Standing charge Gas - 33.5p per day Standing Charge Elec - 50.3p per day Diesel currently £1.89 p/l Inflation running approx 13% It's bloody frightening at the moment. (and bloody freezing!) Wow!! Thats tough, especially considering the recent weather. We are at: Electricity - 23.82c /kwh Standing Charge Elec - 76c per day But we have everything on elec, and have solar on the roof as well so its not as big a hit for us.
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Post by DropBear on Dec 14, 2022 5:57:19 GMT 8
I’d like to see a law change here that you can only Airbnb for 2 years and then have to rent normal for 2 years. Etc… Airbnbs are a pain in the arse. Its like A party every weekend. They might be but this proposal reeks of Big Brother like Government control of how house owners can use their legally acquired property. Freeze/Control rents, Force landlords to accept pets, higher rates for rental properties, force old people to downsize, force people to sell houses not in use (or apply a tax), stop AirBnB are just the latest in a long line of poorly thought out proposals produced by narrow minded people who obviously get paid by the idea. But if you're going to be happy with some pencil-heads absurd proposal like "All home owners with spare bedrooms should take in a migrant family" becoming legal then feel free to continue your campaign against AirBnBs. BTW this might seem like an unlikely example but its only one step from one a few years ago that suggested that homeowners could put up migrants in their garage to get them out of detention.
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Post by FatPom on Dec 14, 2022 15:11:19 GMT 8
It should actually be more than that Roxii but the Gov have mandated a capped discount on the SVR unit price, if that goes next April then it will be bad, although the weather will be warmer. The war in Ukraine is having a major effect on everything, including food prices but i's not the only factor.
We will survive ok but we have a very minimal mortgage (about £16k) and my salary, whilst not earth shattering, is pretty good. Those on low incomes are doing it tough, the Gov is help them with regular CoL payments but that can't go on forever. Right now there are coordinated strikes from Nurses, Jmr Doctors, postal workers, rail workers and the public sector unions. All for increased pay but where they think the money is coming from I have no idea.
I'm paying an extra £850 p/a in NI now to help balance the budget from all the furlough payments. Liz Truss' mini budget was short but the long terms effects are major.
Like I say, multiple factors!
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