Australian Politics Forum - People Renting Chook Pens And Garages.

Kat

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Re: People Renting Chook Pens And Garages.
Reply #45 - May 24^th, 2012 at 5:11pm

As boys, growing-up in the 1950s and 1960s, most of us wished we could
live in a light-house, a train carriage, or a house-boat.

(And yes, we did grow up on a diet of Enid Blyton adventures...).

For most of us, those wishes remained just that....wishes.

So, for one out of three to actually come true is pretty bloody good, I reckon.

In fact, if I only had some land, I'd buy three more of them (at least one would
need to be a double-decker) and that would be my home until I reach EOL.

Then, I'd leave it to my grand-kids (so they could enjoy the experience too).

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« Last Edit: May 24^th, 2012 at 5:16pm by Kat »

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52midnight

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Re: People Renting Chook Pens And Garages.
Reply #46 - May 24^th, 2012 at 6:11pm

> Chookpens are not exactly a trend.

There's a further issue that IS becoming a trend, and was explained by a Sri Lankan friend who's lived here many years. He lives in the inner city, and was disturbed one evening by a police gathering at a neighbouring block of single-tenant studio (i.e one-room) apartments. It seems that fifteen young Indian taxidrivers had collaborated to rent one of them as sleeping quarters for all on rotating shifts, and a neighbour, fed up with the continual comings and goings, had finally called the police.

How common and undetected do you reckon this sort of thing is?

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Sir Spot of Borg

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Re: People Renting Chook Pens And Garages.
Reply #47 - May 24^th, 2012 at 6:36pm

52midnight wrote on May 24^th, 2012 at 6:11pm:

> Chookpens are not exactly a trend.

There's a further issue that IS becoming a trend, and was explained by a Sri Lankan friend who's lived here many years. He lives in the inner city, and was disturbed one evening by a police gathering at a neighbouring block of single-tenant studio (i.e one-room) apartments. It seems that fifteen young Indian taxidrivers had collaborated to rent one of them as sleeping quarters for all on rotating shifts, and a neighbour, fed up with the continual comings and goings, had finally called the police.

How common and undetected do you reckon this sort of thing is?

Heh I did that. In sydney. I had a 1 room place in a decent building and rented out sleeping space and had 11 ppl living there. mostly shift workers.

SOB

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freediver

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Re: People Renting Chook Pens And Garages.
Reply #48 - May 24^th, 2012 at 6:39pm

52midnight wrote on May 24^th, 2012 at 6:11pm:

> Chookpens are not exactly a trend.

There's a further issue that IS becoming a trend, and was explained by a Sri Lankan friend who's lived here many years. He lives in the inner city, and was disturbed one evening by a police gathering at a neighbouring block of single-tenant studio (i.e one-room) apartments. It seems that fifteen young Indian taxidrivers had collaborated to rent one of them as sleeping quarters for all on rotating shifts, and a neighbour, fed up with the continual comings and goings, had finally called the police.

How common and undetected do you reckon this sort of thing is?

Quite common I think. Never trust a real estate agent to look after your property.

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freediver

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Re: People Renting Chook Pens And Garages.
Reply #49 - May 24^th, 2012 at 6:45pm

Quote:

yes but you can't live in a share !! Property is a necessity not a luxury.

You can rent, and for many renting and putting their money into shares is the sensible option.

Quote:

Speculating in property and blowing up bubbles has wrecked major economies around the world causing instability as we are now seeing

Actually no, property has always been the least volatile market.

Quote:

They buy an investment property hopping to off load the risk by renting it out and getting the tenant to pay it off for them. They just sit on their arse collecting rent and getting tax deductions for the interest they pay or any maintenance they need.

You are pretty poor at accounting. The rent does not cover the interest repayments, let alone the capital repayments. They have to work to get the money together then work to pay the rest off. They only get tax deductions on the amount of repayments above the rental income they get - ie, they get tax deductions because they are making a loss.

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Sir Spot of Borg

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Re: People Renting Chook Pens And Garages.
Reply #50 - May 24^th, 2012 at 6:54pm

Quote:

You are pretty poor at accounting. The rent does not cover the interest repayments, let alone the capital repayments. They have to work to get the money together then work to pay the rest off. They only get tax deductions on the amount of repayments above the rental income they get - ie, they get tax deductions because they are making a loss.

hence the "negative" in negative gearing.

SOB

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Ex Dame Pansi

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Re: People Renting Chook Pens And Garages.
Reply #51 - May 24^th, 2012 at 6:56pm

<<Speculating in property and blowing up bubbles has wrecked major economies around the world causing instability as we are now seeing >>
..................................................................

What caused the 2008 collapse in the USA?

Answer: predominantly sub prime lending and other things.

What caused the financial collapse in Ireland?

Answer: The housing bubble that burst.

<<You can rent, and for many renting and putting their money into shares is the sensible option.>>
....................................................................

oops! the share market has almost collapsed.....again, pity those people who are at almost retiring age, losing tens of thousands year on year.
That's the last place I would want my money.

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freediver

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Re: People Renting Chook Pens And Garages.
Reply #52 - May 24^th, 2012 at 7:25pm

Sir Spot of Borg wrote on May 24^th, 2012 at 6:54pm:

Quote:

You are pretty poor at accounting. The rent does not cover the interest repayments, let alone the capital repayments. They have to work to get the money together then work to pay the rest off. They only get tax deductions on the amount of repayments above the rental income they get - ie, they get tax deductions because they are making a loss.

hence the "negative" in negative gearing.

SOB

So how does the whole 'sitting on your arse while the free money comes in' thing work?

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Sir Spot of Borg

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Re: People Renting Chook Pens And Garages.
Reply #53 - May 24^th, 2012 at 7:27pm

freediver wrote on May 24^th, 2012 at 7:25pm:

Sir Spot of Borg wrote on May 24^th, 2012 at 6:54pm:

Quote:

You are pretty poor at accounting. The rent does not cover the interest repayments, let alone the capital repayments. They have to work to get the money together then work to pay the rest off. They only get tax deductions on the amount of repayments above the rental income they get - ie, they get tax deductions because they are making a loss.

hence the "negative" in negative gearing.

SOB

So how does the whole 'sitting on your arse while the free money comes in' thing work?

I wish I knew - it would be handy

SOB

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Kat Gold Member Offline Socialism IS the answer. Posts: 17709 Everywhere and no-where Gender:	Re: People Renting Chook Pens And Garages. Reply #54 - May 24^th, 2012 at 7:54pm If my power bills get much higher, I'll be back there. $280/qtr for a single, middle-aged man who's seldom home? Sorry, I REFUSE to pay. You are ROBBING me!
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Sir lastnail

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Re: People Renting Chook Pens And Garages.
Reply #55 - May 24^th, 2012 at 10:57pm

freediver wrote on May 24^th, 2012 at 6:45pm:

Quote:

yes but you can't live in a share !! Property is a necessity not a luxury.

You can rent, and for many renting and putting their money into shares is the sensible option.

Quote:

Speculating in property and blowing up bubbles has wrecked major economies around the world causing instability as we are now seeing

Actually no, property has always been the least volatile market.

Quote:

They buy an investment property hopping to off load the risk by renting it out and getting the tenant to pay it off for them. They just sit on their arse collecting rent and getting tax deductions for the interest they pay or any maintenance they need.

You are pretty poor at accounting. The rent does not cover the interest repayments, let alone the capital repayments. They have to work to get the money together then work to pay the rest off. They only get tax deductions on the amount of repayments above the rental income they get - ie, they get tax deductions because they are making a loss.

Are you kidding !! Tell us what caused the GFC ?? Does Freddie Mac and Fanny May ring any bells ?? Have a look at the burst property bubbles in Spain, Ireland which are now ruined economies Sad

And too bad if you are an owner occupier because you get no rent and no deductions on interest payments which means you have to work much harder than the hoarder who is not satisfied with owning the one joint he lives in Sad

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Sir lastnail

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Re: People Renting Chook Pens And Garages.
Reply #56 - May 24^th, 2012 at 11:00pm

Sir Spot of Borg wrote on May 24^th, 2012 at 6:54pm:

Quote:

You are pretty poor at accounting. The rent does not cover the interest repayments, let alone the capital repayments. They have to work to get the money together then work to pay the rest off. They only get tax deductions on the amount of repayments above the rental income they get - ie, they get tax deductions because they are making a loss.

hence the "negative" in negative gearing.

SOB

So if it's so bad then you won't mind getting rid of it or are you trying to tell us that property speculators hoard properties because they like to lose whilst doing renters a big big favour Cheesy

LOL

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Sir Spot of Borg

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Re: People Renting Chook Pens And Garages.
Reply #57 - May 25^th, 2012 at 7:26am

Sir lastnail wrote on May 24^th, 2012 at 11:00pm:

Sir Spot of Borg wrote on May 24^th, 2012 at 6:54pm:

Quote:

You are pretty poor at accounting. The rent does not cover the interest repayments, let alone the capital repayments. They have to work to get the money together then work to pay the rest off. They only get tax deductions on the amount of repayments above the rental income they get - ie, they get tax deductions because they are making a loss.

hence the "negative" in negative gearing.

SOB

So if it's so bad then you won't mind getting rid of it or are you trying to tell us that property speculators hoard properties because they like to lose whilst doing renters a big big favour Cheesy

LOL

I am not sure what you are talking about but if you mean I should get rid of any rental property I might have then how exactly would I do that when nobody is buying?

SOB

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Ex Dame Pansi

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Re: People Renting Chook Pens And Garages.
Reply #58 - May 25^th, 2012 at 8:10am

Sir Spot of Borg wrote on May 25^th, 2012 at 7:26am:

Sir lastnail wrote on May 24^th, 2012 at 11:00pm:

Sir Spot of Borg wrote on May 24^th, 2012 at 6:54pm:

Quote:

You are pretty poor at accounting. The rent does not cover the interest repayments, let alone the capital repayments. They have to work to get the money together then work to pay the rest off. They only get tax deductions on the amount of repayments above the rental income they get - ie, they get tax deductions because they are making a loss.

hence the "negative" in negative gearing.

SOB

So if it's so bad then you won't mind getting rid of it or are you trying to tell us that property speculators hoard properties because they like to lose whilst doing renters a big big favour Cheesy

LOL

I am not sure what you are talking about but if you mean I should get rid of any rental property I might have then how exactly would I do that when nobody is buying?

SOB

This is the exact thing that happened in those other countries that we mentioned.

No one is buying and the more properties that hit the market, the less chance you have of selling.

The desperate sellers, and there will be plenty of them, will sell at rock bottom, hence cheaper housing.

Do you want to buy a $100 house in America? or go for a better place for around $20,000.

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Sir Spot of Borg

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Re: People Renting Chook Pens And Garages.
Reply #59 - May 25^th, 2012 at 8:39am

Ex Dame Pansi wrote on May 25^th, 2012 at 8:10am:

Sir Spot of Borg wrote on May 25^th, 2012 at 7:26am:

Sir lastnail wrote on May 24^th, 2012 at 11:00pm:

Sir Spot of Borg wrote on May 24^th, 2012 at 6:54pm:

Quote:

You are pretty poor at accounting. The rent does not cover the interest repayments, let alone the capital repayments. They have to work to get the money together then work to pay the rest off. They only get tax deductions on the amount of repayments above the rental income they get - ie, they get tax deductions because they are making a loss.

hence the "negative" in negative gearing.

SOB

So if it's so bad then you won't mind getting rid of it or are you trying to tell us that property speculators hoard properties because they like to lose whilst doing renters a big big favour Cheesy

LOL

I am not sure what you are talking about but if you mean I should get rid of any rental property I might have then how exactly would I do that when nobody is buying?

SOB

This is the exact thing that happened in those other countries that we mentioned.

No one is buying and the more properties that hit the market, the less chance you have of selling.

The desperate sellers, and there will be plenty of them, will sell at rock bottom, hence cheaper housing.

Do you want to buy a $100 house in America? or go for a better place for around $20,000.

I actually do have a house for sale. I have mentioned it before on here. It has been for sale for almost 2 years now. I have the price down as far as I can go to what I paid for it. So far only 1 person EVER has looked @ it and they couldn't get finance. If it had anything whatsoever to do with price there would be ppl looking then rejecting or offering less wouldn't there?

Meanwhile I have to pay rates and water and all that crap as well as a mortgage. If theres nobody renting its worse - luckily ATM there is someone in there. It doesnt cover the mortgage but @ least its something.

I am not "hoarding" I have the 1 house. I cant live in it because it is in a rural area and I need to be in the city ATM. So I am renting in the city for more than I am getting in rent from the house and all I have is 1 room. the house is 3brs!

Dont tell me negative gearing is the cause of all this. BS. Negative gearing may provide some relief but not a lot. Prolly no relief this year in fact since the tax threshold changed.

SOB

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