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About Me

John Gilmovich

Current Rating: 4.82 / 5
Property Manager
Real Property Manager Pty Ltd
Five Dock, New South Wales
0418 600806
John Gilmovich is the founder, director & senior property manager of Real Property Manager - A boutique independent mobile agency with a purpose to provide exceptional personalised residential and commercial property management services to the Sydney property investor community backed by 23 years hands on industry experience.The aim is delivering old school customer service but using the latest innovative property management technology in the market place to deliver transparency and great outcomes to both landlords & tenants alike.

John is a property investor himself and understands the care, attention & mindset required to meet the expectations of his clients. A real problem solver in an industry that demands a quick response time, innovative cost effective management solutions and the understanding of the ever expanding legal requirements of tenancies,Real Property Manager delivers expert level service backed by decades of the right experience.

Member of REINSW and current president of The Property Owners Association of NSW,John is fully accredited and licensed real estate professional.

My Activity

Q: Hi, I'm 55 years of age with an aching back and want to improve my core. Is it best to do sit ups or plank for 30 seconds a couple of times a day. thank you?
A: I’ve had lower back pain for 20+ years.
Neither of those things you mentioned are a direct solution unless you know and understand the underlying issue of what is causing your back pain. This can only be done via scans and an MRI is the optimal scan your can do which will show up bone and dose issues. You will need a referral from your GP. You can get it done at a hospital or private practice such as Alfred Imaging. After much research into back pain over many years the best non intrusive solution is mobility. Don’t sit for more than 20 minutes without getting up and moving around for at least 5-10 minutes . Moderate exercise like walking, swimming and stretching can assist greatly in pain relief.
But do find out what may be causing your pain eg do you have herniated disc or 2? You need to know and this will determine what type of exercise will be suitable. Good luck. BTW 1in 3 people have lower or uppers back pain of some sort.

Q: I have an investment property in Darwin, which has no running at a loss due to the slump in the Darwin real estate market, I am seeking some ideas on what to do with it?
A: Hey Tony, not much good news on the horizon for Darwin property market. Might be a cut your losses situation and re-invest in growth markets.
No point in hanging on to a loss year on year.

Q: Hi, we were at an auction on Saturday and we have been notified the successful bidder is not going ahead and the agent has contacted us as the under bidder and wants to negotiate a higher price. The property was for sale and we went to our max at the auction and would like to know legal why our offer can’t be accepted?
A: I'm an auctioneer myself, under auction conditions the sale occurs after the fall of the hammer and the successful purchaser signs the sales contract there and then as commitment to buy. Exchange of contracts usually occurs there and then after payment of the 10% deposit or deposit amount agreed to by the vendor. Buyer is committed to proceed with the purchase as an unconditional sale under auction terms and conditions.

I have seen purchasers pull out of auction sale and this is occurring more often now as purchaser wasn't financial at the time of sale and bank won't lend on the property or not as much for whatever reason.If they don't or can't proceed to settlement they will loose their deposit and property either re-auctioned or placed back on the market for sale as has occurred with you. You are under no obligation to make offers over and above what you had bid at the auction. The vendor has the right to knock back any offers made from here on if they wish to do so. The agent works for the vendor not you as the buyer to get the best price for the property.But the agent is going about it in an unprofessional manner when he/she should know what your highest and best offer was already. Playing the under and over game as I see it. Stand your ground on the price you see fit for the property.
Q: Hello,
We are going through the process of finding a real estate agent and a friend suggested Open Agent. After some research it seems they only refer you to agents who are happy to give up some of their commission so is there a way to find any data on the agents who consistently sell above the price the agent puts on the contract?
A: Hello Max,

Open Agent and all other 3rd party platforms that introduce agents to sellers don't really focus on sales prices,though they may say they do, or sales results but ratings and feedback from the agents vendors (customers)
You can read this statement on their own website..

"You are missing some of my sales data – can you correct this? We do our best to gather all your previous and recent sales, but our technology is still very new and not yet perfect! Email us at agents@openagent.com.au with property sales we have missed. We will verify and add these to the site in the next update"

You really cannot get that sort of data unless..

1.you personally interview your potential agent
2.ask them to provide their sales history/results (e.g. cross check against sales data on Corelogic or Realestate.com.au 3.Try and verify that the sales results are factual

No.3 is the tricky one and no sales data portals I'm aware off produces such information.You really have to go and interview the agent and ask them to show you their personal results by examples of recent sales they've made. I stress the word RECENT,as the markets have changed dramatically and getting a strong sales result over and above will require very high skilled agents.Not too many of those around in each suburb.Quantity of agents are there but quality is hard to find.

In saying all this 3rd party introductory platforms really don't have your goals in mind,they are a business to make their fee's of the agents fee and really at the end of the day your property will be tendered to whoever responds the fastest to the tender request. Its then a matter of you eliminating who you don't want and then fine tuning who you do want to appoint as your selling agent.

You really don't even need to use Open agent to source a selling agent.Look online on Domain and Realestate.com.au or pick up the local paper and you will see who has the strongest market share of a suburb and listings they work.In most cases the top agents,who usually get a decent result for their clients has ample listings and sales and a track record.

With open agent,you are really leaving to chance that a quality agent makes contact with you. If you're friend cannot tell you who the best agent is in your suburb and asked you to search via pen agent,then really,in all due respects, your friend does not know who to refer you too. Its best to get a referral from someone in the know who knows the agents reputation or someone who has engaged the sales agent and has done a transaction. Most agents can provide you testimonials and even a personal contact of their past client (with consent) so you can ask them about their experience.

Best of luck Max B.
Q: We have been researching websites like RateCity and Finder where they saw home loan rates can be as low as 3.44%. Our rate is 3.99% and we contacted our broker and they said because we have only had the loan for a year we shouldn’t refinance. They said we could refinance but it would cost them money if we did and we would have to pay the fees on their behalf. Is this normal for brokers?
A: Also the rates being advertised on these sites are a hook into driving enquiries and in most cases are not the final rates you can receive based on your personal loan application and circumstances.I get the temptation of trying to refinance after seeing lower rates that what you’re currently on.
Q: Hello, my wife and I have been discussing buying a unit off the plan close to Sydney CBD. The loan have been approved but with the talk about the labour party negative gearing policy is now a good time to buying off the plan or should we look to a place like Newcastle or other regional areas and buying an existing home. Thank you
A: Just want to add a point in regards to Sydney CBD apartments as a property manager in the past 12 months Sydney metro vacancy rates have doubled with current supply of available apartments and off the plan projects placing rents under pressure to drop value,and they have already,for any apartments that has not got an X factor going for it that distinguishes it from others.2 years ago Sydney CBD vacancy rate was 1.2% this year heading towards 3.0%.If cashflow is not tight for you and you can handle some vacancy of up to 4-5 weeks without a tenant that’s ok but average mum and dad investors on moderate incomes and not being able to go interest only on their loans have a hard time financially in this market environment.
Q: Hi,
Are there any lenders that will look at 6 units on the one title?
Property is in Abbotsford and but we keep being told the maximum number of units is 4 – the refinance is about 65% of the value of the property. Any advice?
A: Hi Seb,
If you require a rental estimate on these I’m a local specialising in rental management and can assist as no doubt a rental appraisal will be required for finance purposes.Happy to assist.
Q: About to sign commercial lease for the first time. The owner is offering 3 months rent free and the fit out which is about $25,000.... 3 x 3 years . They want a make do clause after the 3 years which we don’t understand.... is this normal?
A: Hello Phillipe,

I’m a property manager who deals in commercial leases.So far you have negotiated some very good terms.So good on you so far so good.The make do clause or what is known as a re-instatement of premises clause is normal but should only apply at the end of the occupancy should you be vacating the property. So the lease and this clause needs to be worded correctly with the ”make good “clause. A 3 x 3 year lease has to be prepared by a solicitor specialising in commercial leases so they should already know how to word this clause.Any commercial lease more than 3 years long must be prepared by the landlords solicitor (not DIY) and checked over by your solicitor( Best practice) before you sign it.You will usually pay the cost of the lease preparation.The lease should be registered on title of the property to protect your interest in the property.Hope this helps and best of luck.
Q: I’m 46 and been in sales and business development for 20 years. I have had an idea in my mind for many years and would love the freedom of running my own business but the fear factor and financial commitments have always held me back. I’d like to ask other people’s opinion on how they took the first step, how hard they found it – the good and bad, thanks?
A: Hello Peter,

I was 44 when I started my first serious business in the real estate industry (has dabbled in side hustles for many years,mainly online selling) 2 years ago after 22 years of working for others.The fear factor was HUGE as at this age there is more at stake,family,kids,mortgages etc etc My personal Q & A inside my head:-

Q.Worst case scenario,where do I end up financial if business is not successful? A..well I can become an employee again!
Q.Is there a market opportunity or a need for my services? A. definitely
Q.Do I have the skill,qualifications,experience etc be the best at what I do? definitely.
Q.Is my wife supportive of this venture A.Yes. wider family,no,but didn't care about that.
Q.Am I prepared to lose everything over a new business venture? A.No I wasn't,as not a high risk taker,so planned and prepared accordingly for months (sought business advice,spoke to others in the industry,spoke to accountant etc before making the decision to go out on my own.

Is it hard doing a start up? its the hardest thing I have ever had to do in my business career besides being a dad to my 2 x kids (4 & 6 year old) Both keep you awake at 2am! But I did and am still doing both simultaneously. Now more like 5am starts.

Through the blood,sweat and tears my business is now state finalist in the Start Up Superstar category of a major business award. I never thought I would get this far! But I did as the number one thing that matters in all of this is your attitude to make it work no matter what obstacles are thrust upon you.And there will be many challenges and obstacles in business and life that will continue.It never goes away.You have to be fit of the mind,heart and stamina required.I had to change my eating,sleeping and fitness regime to keep up with it all.Your own business will consume you 24/7 if you allow it to.You need to control that or face burn out. Your mindset will make or break you.

New business is not for the faint hearted,its a lot harder than I would have ever imagined and has taken 4 times as long as I though it would to establish itself and until potential clients began to find me instead of me searching for them.But it has been a rewarding journey on many levels.Running your won business is just a matter of getting over the barriers that continue to be thrown at you.If you can grapple,duck,jump over or under those,one by one,you get closer to whatever your meaning of success is to you.

I follow my old public school motto to the day...Nile Sine Labore. Nothing without work!

Hope my post and my colleagues wisdom helps you.

Best of luck.
Q: Currently looking at a couple of commercial properties as an investment and want to know if the contracts have to say if the sale price is inclusive or exclusive of GST ..... do we also have to register for GST?
A: Hi Ben,have a read of this article which explains it.I recently have been involved in a commercial property purchase and found this helpful.

Q: Attending my first auction tomorrow as loan approval came through yesterday. Does anyone have any words of advice or tips on bidding?
A: Here’s advice from an auctioneer...the more you pay the more it’s worth.Auctions are like a stage show selling environment and newbies can get emotionally overwhelmed by what’s occurring in front of them.They can also over pay for a property.I suggest bringing someone with you who has bought or sold at an auction before for a voice of reason.
Q: Hi, I am setting up an online fashion and cosmetics business and interested to get people thoughts on CRM's they use for marketing purposes – which one's work best and are cost effective, thank you ?
A: Hello Elsie,

Congratulations on your business start up. For a no fuss low cost start up CRM go for Mailchimp. There is a free version and a paid version.So many features and they are always upgrading and improving the App. Mailchimp also integrates with most WordPress websites but check specifically about your online store and its integration functionality before committing.

Best of luck.
Q: Hi, we are looking for a place to rent and want to know what the maximum term we could sign up for a lease. Could we sign a lease for 2 years with a condition of no rent increases? Thanks
A: Hello Sophia,

The maximum lease term under the standard residential tenancy agreements are 3 years.Rent increase conditions are not necessary if the landlord agrees to sign with you a straight fixed term tenancy of any duration up to 3 years.If they don't agree and want rent increases or rent reviews done within the 2 year period they have to insert them into the lease as a condition of the lease terms.

Hope that makes sense to you.
Q: Hi, we have seen the Purplebricks ads about no commission and wanted to ask if it is right that you pay a fee upfront and don’t get a refund if the property doesn’t sell?
A: Hi David,with Purple Bricks model you are basically paying them upfront to list your property and selling it is their secondary priority. If they sell it,you pay a selling fee.There are hidden fine prints in their business which has caught out their customers as well.Take steps in this so called selling process with caution and read all terms and conditions VERY carefully.
Q: Home Loan News

Westpac Bank has announced an increase of 0.14% to all their variable home loan rates for new and existing customers

The rate increase will take effect on 19 September 2018.
A: The old “wholesale cost of funding is going up” statement made today by Westpac.I Read between the lines as...get the banks customers to pay for the banks lawyers fee’s whilst Royal Commission still going on and not tap into their own surplus.
Q: What is the best Hostplus super option to choose for someone nearly 60?
A: Have a read about Hostplus...

Q: What kind of checks would a Commercial Real estate need to do in regard to leasing a property to a tenant on behalf of a client landlord?
A: Hello John,
Commercial tenants are typically vetted via a formal application which should reveal the following information to the agent:

1.100 point I.D. Check
2.Financial and trading history
3.ABN or ASIC searches on the business registrations and company status
4.At least 2 years tax returns personal and business
5.Previous rental history
6.Proof of assets ownership or bank statements
7.Trading partners creditor references
8.Refererence from accountant about business history/trading

This would be the minimum requirement.

Hope this helps.Regards,John.
Q: Hi, I’m looking for a bookkeeper in the inner west of Sydney and wondering if anyone is happy to recommend someone?
A: Hello Megan,Contact Janine Parnell at Rozelle

Q: Selling a property in Leichhardt, does anyone know of a real estate agent they would be happy to recommend?
A: Yes Andrew know a few great selling agents,give me a call to discuss 0418600806.
Q: Buying a commercial property to operate our business and need to borrow 60%. What are the best rates for a 3-5 year interest only term
A: If buying a commercial property for your own business,an SMSF structured purchase may be an option for you if you have enough super contributions in a retail fund to use.Speak to a specialist SMSF broker or financial planner.God article about this....
Q: Hi

Going to my first auction tomorrow. Whats people’s thoughts on the best strategy to take. Should we wait until it hits the reserve price before bidding?
A: The best strategy at auctions is never pay too much.Keep your cool, be prepared to walk away.Have a limit and stick to it.Auctions are geared for the seller not the buyer.If property passes in,negotiate there and then and try and do a deal as you can still purchase unconditionally( under auctions conditions)
Welcome to Real Property Manager

Q: Hi,
We put an offer on a property today in Glenwood, in writing to the agent. The agent rang straight away and said the offer wasn’t high enough and we asked if that was the answer from the owner and the agent said he wouldn’t bother the owner. Do we have any rights to make sure the owner gets to see our offer?
A: An agent is required to disclose all offers to the vendor and keep these documented on file during a sales campaign.The exception would be if the vendor has requested that the agent does not bother them about offers under a certain minimum price.
Q: What is the one thing, your major priority, you would do to help ease housing affordability in Australia?
A: The private sector(private investors,Non for Profit housing groups even institutions) are willing to build affordable housing if government plays ball with them in changing policy for real incentives.E.g broader land tax exceptions,release land below market cost to build on and even tax concessions like the NRAS scheme was.Otherwise private sector will not deliver affordable housing, never.You cannot make housing more affordable but you can supply affordable housing.
Q: I am looking at an apartment off the plan in Newtown… completion late 2019. It is 50 square metres plus a small balcony and a garage on title. Before I pay the deposit can I ask if it is possible to get a loan on this type of property as an investment?
A: Hey Sam,is the purchase for owner occupying or renting it out to tenants? This may be a factor as well for lenders.
Property Investing Mentor Luke Maroney Interviews Property Manager

Q: Parents have been running the family business for 20 years and now ready to retire. We have tried the sell the business ourselves but now believe we need a specialist, does anyone know of a good business broker?
A: Hello Tony,I do know of a very good business broker.Give me a call to discuss further on 0418600806.Cheers,John.
Welcome to Real Property Manager

Q: I am living in NSW I have been renting a house for 3 year in a Village zoned town. My landlord is subdividing the property. I was told by fair trading that I could negotiate the time of her working on the property. She is going owner builder. But someone said that once the block is subdivided I have no rights because it is no longer part of my property. I also know that her last 3 builds she was painting at midnight. Who is right?
A: Hello Shelley,

A tenant under a residential tenancy agreement has the right to "peaceful,quite enjoyment of the premises" This is the law and the landlord has to abide by the laws of the tenancy.Yes you can negotiate the days,number of times and hours spend on your rented property otherwise the landlord is in breach of the tenancy and may need to be you compensation.

For further rights of access and other tenancy information please visit The Tenants Union website for more information and any legal advice contacts are there.


Best of luck.
Q: My neighbour is selling his house with my land featured in a photo, the bordering fence is actually on my land & the retaining wall also my property is the other side of the fence This was done for practicality & to allow him sufficient drainage as he was allowed to build his home on land that was classified a water causeway. As mentioned, he is selling his home & has made his property look bigger by using our retaining wall to work inline with a garden. Where do I stand legally with this?
A: Hello Chez,

Retaining wall issues and disputes fall under "Dividing Fences Act" which is administered by the local council of where the property is located.A good start to explore your rights will be with your local council.The following links can assist you as well.




Best of luck.
Q: Looking at buying into a retirement property and renting my house out. Will this be classified as a investment property as we will be putting my husbands name only on the retirement property as the house is in my name only. Nothing is owed on my house. We live in NSW.?
A: Hello Ros,

If your house becomes an income (rent) producing property then it becomes an investment property.I'm not a financial planner or an accountant who may advise you further on your personal circumstances about how this may affect your financial position e.g. your pension or retirement finances,tax,superannuation etc.I do provide a top leasing and property management service Sydney wide.Happy to talk further about renting your house out when the time comes.

Best of luck.
Q: hi if you put down a 10% deposit on a house in NSW and before the contracts are exchanged you are unable to go through with the sale do you lose the 10% deposit?
A: Hello gay,you normally do not put a 10% deposit down unless you are ready to exchange contracts.If you don't exchange contracts then you don't lose anything.
Q: Dear John,
I wish to put in a second towel rail because I'm disabled with neck arthritis. My landlord is unresponsive. I am straining my neck to reach down to the low rail and wish to put one above it more suitable for my height. Would i be in breach of my contract if i have one put in? Can they evict me even if its identical to the one below and adds value to the property? Thank you for your reply :-)
A: Hello Petrice,such addition or alteration to the premises which is to assist a physical condition you are suffering is seen by law as reasonable.Providing you have made a reasonable number of attempts with communicating your request via the landlord and provided that you are prepared to remove and patch up the wall of where the new towel rail is being attached then it is very unlikely this can be seen as a major breach.As such it’s unlikely you can get evicted d from the premises.
Q: My 19yo daughters lease agreement date ended approx four weeks ago. She has continued to pay rent from that date, but has now signed a new lease on another property with a different real estate. Her old real estate agent says that she must give 21 days notice before she vacates even though there is no current lease agreement. She can not afford to pay two separate lots of rent on two properties. The lease is up. Why can't she just hand the keys in and move out??????
A: Hello Geraldine,

The answer to your question is that even when the lease is up (expired) it is on whats called a periodic tenancy and as such the law requires 21 days written notice by the tenants to terminate a periodic tenancy agreement which is the minimum notice required.So the property manager is correct on this occasion.

More information can be found on the Tenants Union Website ...


Best of luck.
Q: we rented a property for 3 1/2 years,
so we vacated on the 23/10 since then we had a final report saying not clean enough and the ventaton blinds broken, it has since been recleaned and they still say blinds broken
in the time we rented not one 3 month rental inspection was anything ever said about the blinds, now they say they are getting quotes for them to be fixed, they weren't happy with the first quote and are getting another and its supposedly yo help us
where do we stand?
A: Hello Rachael,

I understand that these matters can be frustrating and the answer lies in what the original entry condition report said about the blinds being “clean” “undamaged” or “working” and what you agreed or disagreed with those comments.This is the evidence.I do not understand why the agent needs a second quote if the expectation is that you are to pay for broken blind.This is highly unusual of you are happy to accept the first quote if you are willing to pay for the damage.
Q: Hi,

We gave our notice to vacate over 3 weeks ago now and our property manager has done the outgoing report approx.4 days after the end of our vacate day. I handed the keys in 3 days early as well. Are we responsible for the property once the vacate date has passed?

A: Hello Colin,

Once you have handed over the keys and given full vacant possession of the property you have no further responsibility from then on besides any responsibility which you have not met your obligations with up to the vacate date.
Q: Hello my name is Cianne .
I applied for a rental property in Qld with a certain Real Estate , and was declined becaue they said another Real Estate had black listed me , because when I wa on the other side of the country with ailing family , my don packed up the house and left , after arrangments with that Real Estate I paid all monies owing , this was 2 yrs ago .)
Over the past to years I have rent with Real Estate Agents ,
I want to know IF and HOW it can be removed ?
A: Rental agents control the listing and removal of names from tenancy blacklist databases.Check with your states Fair Trading Office about the maximum numbers of years that a tenant can be listed for and the terms when a tenant can be removed from the listing as there are guidelines Agents must strictly follow on this front.The listing of tenants in default databases does not Last indefinitely.
Q: We are selling our home of 18 years and going through the process of choosing a real estate agent. The fees seem to be around 1.8% but one agent has offered 1.4% but wants to charge a $9,000 marketing fee. Does the marketing costs sound right ….. I know they put a sign out the front and the property goes on realestate.com.au and domain but does it really cost that much?
A: Hello Martin,the marketing fee should come with a marketing schedule and breakdown of what has made up the $9000.00.It Could well be a combination of both digital and print media marketing.Print media can be the most expensive of the 2 and can be optional as an inclusion in the campaign.But this will depend on your market place which could cater to print media readers as a necessity.Talk to at least 3 agents about marketing strategies that are best to suit the type of property you are selling and your market place target buyers.The agent and marketing strategy you choose can impact your final result and your sales price.
Q: We are thinking of selling our home and contacted Purplebricks as we saw their ad about flat fees. We would hope to get around $1.9 - $2m for our property so it would save us about $25,000 but they said their fee is paid upfront. Do you think this is a risk and is there another we could structure the payment?
A: Hello Liz

Please forgive the dryness of my answer but otherwise I could write an essay on this topic.

As a seller you want to achieve the highest price possible for you home without outlaying or it costing too much to achieve a great result, so with this in mind be aware of the following.

An upfront fee means there is no incentive for the Purplebricks agent to even negotiate an extra $5k never mind an extra $50k.
In fact, there is not much of an incentive to even sell the property.

Compared to a traditional agent who is incentivised not only to sell the property but also to negotiate more for the seller which means more for the agent. There is less risk with a traditional agent as you only pay a commission upon a successful sale.
With your expectations ranging from $1.9m to $2m you need an agent that will negotiate at the upper end of that $100k difference

Most offices have a sales team, we met 574 buyers just last weekend who are looking in the Inner West area

Marketing is paramount but you don’t need to spend a fortune compared to the value of your home. These days your buyers make decisions with regards to viewing your home based on what they see on their phone, ipad or computer so photos, presentation and a strong digital presence is critical. The average buyer spend less than 2 minutes viewing a property they like but you have less than 10 seconds to get their attention in the first case.

Good luck Liz with your property decision whatever that maybe, but if you want to call me I would be happy to answer any questions you may have.
Q: We have an exclusive agency agreement in place and want to take our property off the market. The agreement runs out 1/12/17 - we may have a family member who wants to invest in this property - can we accept their investment when the property is off the market?
A: Hello Andrew,

You have assigned an agent to market and sell the property exclusively by the agent till 1/12/17.As such you cannot affect a sale privately unless.

A.You terminate the agency agreement by way of written notice to the agent that you are withdrawing the property from sale.

B.You wait for the expiry of the agency agreement and then withdraw the property from market.

However,it appears you are planning to continue to sell the property "off market" and not withdraw it from the market totally which simply put it is still a sales transaction but can be done privately by you without an agent.In saying that if the former selling agent did in fact introduce a buyer (which could be your family member) during their sales campaign they may be entitled to their fee if the sale eventuates and if the former agent discovers that such a sale has occurred.

Hope this information assists you in your situation.
Q: Would like some recommendations for a quantity surveyor.

I've contacted BMT and Washington Brown, BMT will carry out a home inspection for the report while Washington Brown stated that they'll do report without an inspection, Fittings details needed only?
A: It appears that Washington Brown are cutting some corners in the process of providing a report.A very qualified quantity surveyor would be conducting a site inspection of the property internally and externally to provide a thorough report maximising depreciation of all fixtures,fittings and plant.This is why I use BMT and Associates and recommend them to my clients.
Q: Is a Commercial Letting Agent obliged to secure a bond from a perspective tenant before allowing a tenant to occupy a property?
A: Hello John,commercial leases have terms and conditions which are agreed upon prior to the lessee(tenant) taking occupancy.These are drawn up as a heads of agreement.In practical terms an agent should take a bond or bank guarantee prior to occupancy as this is a landlords security should there be a breach of the lease agreement after occupation of the premises.It is in normal circumstances paid prior to occupancy unless landlord has agreed otherwise.
Q: I am the tenant on the lease. I sub-let the room to a housemate privately. I stupidly do not have her sign anything. She gave me Bond (4weeks rent) and 2 weeks in advance when she first moved in. 6 months later- She tells me she is moving out the week before rent is due (with only 1 weeks notice of her move out date)
She moves out July 8th. Rent was due July 3rd. She did not pay. This means she was Not covered by rent from the 3rd to the 8th of her living at the house. Can you help me!?
A: Hello Melanie,

If she did not give vacant possession (physically vacated the property with her belongings) of the space she occupied then rent is chargeable on a daily rate pro rata till she gave vacant possession.All tenancy matters are disputed at the tenancy tribunal (NCAT) and final judgement stems with the tribunal member hearing the case and by way of evidence you provide to them justify the rent claim.

I strongly suggest you call Tenants NSW to seek further clarification and decide if the dollar amount involved is worth you pursuing the sub-tenant via a tribunal which is the only small claims tribunal that can handle these sorts of matters.

More information here....

Q: I am the tenant on the lease. I sub-let the room to a housemate privately. I stupidly do not have her sign anything. She gave me Bond (4weeks rent) and 2 weeks in advance when she first moved in. 6 months later- She tells me she is moving out the week before rent is due (with only 1 weeks notice of her move out date)
She moves out July 8th. Rent was due July 3rd. She did not pay. This means she was Not covered by rent from the 3rd to the 8th of her living at the house. Can you help me!?
A: Hello Melanie,

This tenant assist website is very helpful to sort out co-tenancy disputes and there is a free help line to discuss your matter.

A sub-tenancy is treated differently to a head tenant(you) and because you had no written agreement it may be the case that there may not be any minimum notice required by the sub-tenant.But please get in touch with Tenants NSW below to seek further clarification.


Best of luck.
Q: I own a commercial terrace in Sydney with an office on the ground floor and a self-contained residential apartment on the two floors above (with its own access). The property is on the one title and isn't strata. I'm having a hard time finding a bank that wants to refinance the property and I'm not sure why - I have tons of equity in it. Can anyone suggest a good path to go down to get the property refinanced?
A: Hello Piers,

Due to many policy changes in the mortgage/lending environment in the past 12-18 months "ooodles of equity" is no longer a criteria lenders look at.Its used to be.Loan serviceability is now on top of the list of a myriad of factors to determine financing and refinancing capability.Commercial v residential lending also have different criteria and challenges in their own right. You need to discuss your situation with a broker or lender who has done mixed use property deals lately.

Best of luck,

Q: My partner and I are earning good money, 120k and 80k and pay $1,100 a week rent. We have found a property we like and want to ask if it is possible to borrow 100% of the property, about $820,00?
A: Hello Emily,

There are many factors that the banks/financial institutions are looking at in assessing loan to value (LVR) besides incomes,be it high incomes.E.g. a person/s on high income may make combined salary $200k but have living expenses of $150k (personal loans,car loans ,credit cards,rent etc ) add kids to that equation and loan applicants chances become even slimmer to obtain over 90% finance.Its getting tougher and tougher if almost impossible to get 100% finance on just salaries alone,especially living in Sydney.First step is a pre-application via a mortgage broker to determine your borrowing capacity.
Q: Curious as to how a boarding house would be valued? Would it based on the asset or the income it generates? Or both?
A: Hello Justin,

All real estate is valued based on the sale prices of comparable assets. The methodology used for a boarding house valuation may vary from property to property based on the specifics of the subject asset, however, in general, when sold as a ‘going concern’, the value would be assessed primarily via the capitalisation method. This involves calculating the net yield (annual return on income after expenses), and comparing this to the net yield of other boarding houses that have sold. The yield would vary depending on the size of the property, its condition, location, development potential and other factors. But, as an example, a purchaser may target a 7% return on their money, and would therefore pay $1.43mil for a boarding house that was returning $100,000pa after expenses.

In circumstances where the subject property has a ‘highest and best use’ that is something other than as a boarding house, an alternate methodology may be more appropriate. This could be on a ‘hypthetical development’ basis, or a ‘direct comparison’ basis, or some other method.

There is a memebrship based organisation in NSW that has a boarding house owners chapter and it would pay you dividends to join if you have not owned or operated a boarding house before.Look into www.poansw.com.au


Q: How much should I pay for a 3 x 2bdrm block of Torrens title units that are currently uninhabitable and require a 6wk cosmetic renovation ($100k) for a combined income of $900/wk post Reno?
A: Hello Bel,

There are a myriad of factors in determine the value of a property. E.g. your question does not state the location/suburb/postcode of the property.This is crucial information.

There are generally 3 ways to obtain a valuation or a market opinion.These are:

1.Your own research by using data such as Corelogic and Pricefinder or the reall estate public websites e.g. Realstate.com.au or Domain.com.au

2.A paid valuation by a valuer or the financial institution will send their own valuer if you are borrowing the purchase cost

3.A free market appraisal by a local agent