Australian Politics Forum - People Renting Chook Pens And Garages.

brumbie Gold Member Offline Australian Politics Posts: 994 Gender:	Re: People Renting Chook Pens And Garages. Reply #60 - May 25^th, 2012 at 9:02am All this talk about living in chook pens,shipping containers,garages,train carriages etc reminds me of pythons "the four yorkshiremen"
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Sir lastnail

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Re: People Renting Chook Pens And Garages.
Reply #61 - May 25^th, 2012 at 11:25am

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

get rid of negative gearing and don't go on about the myth of a shortage of rental property. Only 1 in 10 purchases of property by investors are brand new house and land packages. The rest is recycling the same old junk that was built decades ago.

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Sir Spot of Borg

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Re: People Renting Chook Pens And Garages.
Reply #62 - May 25^th, 2012 at 11:31am

Sir lastnail wrote on May 25^th, 2012 at 11:25am:

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

get rid of negative gearing and don't go on about the myth of a shortage of rental property. Only 1 in 10 purchases of property by investors are brand new house and land packages. The rest is recycling the same old junk that was built decades ago.

Its no myth mate. I tried to rent in canberra and there was NOTHING. Eventually a couple flats came up that were something like $600 a week and they went so fast I wouldn't have had a chance to get them even if i could afford that much.

Doesn't have anything to do with negative gearing.

SOB

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Sir lastnail

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Re: People Renting Chook Pens And Garages.
Reply #63 - May 25^th, 2012 at 1:22pm

Sir Spot of Borg wrote on May 25^th, 2012 at 11:31am:

Its no myth mate. I tried to rent in canberra and there was NOTHING. Eventually a couple flats came up that were something like $600 a week and they went so fast I wouldn't have had a chance to get them even if i could afford that much.

Doesn't have anything to do with negative gearing.

SOB

It is a myth simply because it doesn't work. Prices of rental accommodation are higher than ever. So much for negative gearing creating this fictional over supply of dwellings. It is a scam brought on by vested interest groups who care so dearly about screwing renters. The poor renters will have to pay more so lets bring in negative gearing Cheesy

Since when did property speculators ever care about renters ?? They are very quick to toss the tenants out on the street when they want to make a quick buck flipping properties Sad

Give me a break will you !!

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« Last Edit: May 25^th, 2012 at 1:27pm by Sir lastnail »

"If you take out Saddam, I guarantee you that it will have enormous positive reverberations on the region..." - Benjamin Netanyahu in 1995

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Baronvonrort

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Re: People Renting Chook Pens And Garages.
Reply #64 - May 25^th, 2012 at 1:32pm

Sir lastnail wrote on May 25^th, 2012 at 1:22pm:

Sir Spot of Borg wrote on May 25^th, 2012 at 11:31am:

Its no myth mate. I tried to rent in canberra and there was NOTHING. Eventually a couple flats came up that were something like $600 a week and they went so fast I wouldn't have had a chance to get them even if i could afford that much.

Doesn't have anything to do with negative gearing.

SOB

It is a myth simply because it doesn't work. Prices of rental accommodation are higher than ever. So much for negative gearing creating this fictional over supply of dwellings. It is a scam brought on by vested interest groups who care so dearly about screwing renters. The poor renters will have to pay more so lets bring in negative gearing Cheesy

Since when did property speculators ever care about renters ?? Give me a break will you !!

The vacancy rates are pretty low that might have something to do with rents going up, supply and demand tends to do that.

So how many places will be available for renters when you tax all the investors out of property?

I looked at buying a house years ago
Land tax $14,000 per year
Rates $5000 per year
Water $1000 per year
Then you have insurance, management fees along with maintaing the property, improvements are counted as a capital gain so cannot claim improvements only fixing it up.

So what rents could i charge when nearly $500 per week is spent by the landlord on taxes and rates?

Those who think property is a good investment are clueless, you pay a lot of taxes when you have investment properties and when you sell you get slugged with CGT.

The land tax is jacking the rents up.

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Sir lastnail

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Re: People Renting Chook Pens And Garages.
Reply #65 - May 25^th, 2012 at 1:51pm

Baronvonrort wrote on May 25^th, 2012 at 1:32pm:

Sir lastnail wrote on May 25^th, 2012 at 1:22pm:

Sir Spot of Borg wrote on May 25^th, 2012 at 11:31am:

Its no myth mate. I tried to rent in canberra and there was NOTHING. Eventually a couple flats came up that were something like $600 a week and they went so fast I wouldn't have had a chance to get them even if i could afford that much.

Doesn't have anything to do with negative gearing.

SOB

It is a myth simply because it doesn't work. Prices of rental accommodation are higher than ever. So much for negative gearing creating this fictional over supply of dwellings. It is a scam brought on by vested interest groups who care so dearly about screwing renters. The poor renters will have to pay more so lets bring in negative gearing Cheesy

Since when did property speculators ever care about renters ?? Give me a break will you !!

The vacancy rates are pretty low that might have something to do with rents going up, supply and demand tends to do that.

So how many places will be available for renters when you tax all the investors out of property?

I looked at buying a house years ago
Land tax $14,000 per year
Rates $5000 per year
Water $1000 per year
Then you have insurance, management fees along with maintaing the property, improvements are counted as a capital gain so cannot claim improvements only fixing it up.

So what rents could i charge when nearly $500 per week is spent by the landlord on taxes and rates?

Those who think property is a good investment are clueless, you pay a lot of taxes when you have investment properties and when you sell you get slugged with CGT.

The land tax is jacking the rents up.

The don't buy it !! Demand will go down and so will prices and then it will be more affordable to people who want to buy ONE joint for themselves to live in. Take the concessions away from speculators and give them to owner occupiers or investors who invest in brand new dwellings !!

If you just want to flip existing properties built decades ago there is absolutely no benefit to renters !!

Population growth is another scam employed by governments to keep a floor under house prices and to stop the market from collapsing but renters get screwed as a result of it.

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Sir Spot of Borg

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Re: People Renting Chook Pens And Garages.
Reply #66 - May 25^th, 2012 at 2:01pm

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

Quote:

[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 lastnail

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Re: People Renting Chook Pens And Garages.
Reply #67 - May 25^th, 2012 at 2:25pm

Sir Spot of Borg wrote on 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

before you start crying what concessions do owner occupiers get ?

They don't get rent nor to do they get tax concessions on interest payments and maintenance etc !!

How inequitable is that ? What you are doing is denying someone else from owning and living in their own home whilst getting special privileges that owner occupiers don't get. And all of the while pumping up the property bubble making it more expensive to own your own house which also benefits speculators Sad

Somehow all of this is socially acceptable in this country Sad

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Sir Spot of Borg

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Re: People Renting Chook Pens And Garages.
Reply #68 - May 25^th, 2012 at 2:41pm

Sir lastnail wrote on May 25^th, 2012 at 2:25pm:

Sir Spot of Borg wrote on 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

before you start crying what concessions do owner occupiers get ?

They don't get rent nor to do they get tax concessions on interest payments and maintenance etc !!

How inequitable is that ? What you are doing is denying someone else from owning and living in their own home whilst getting special privileges that owner occupiers don't get. And all of the while pumping up the property bubble making it more expensive to own your own house which also benefits speculators Sad

Somehow all of this is socially acceptable in this country Sad

BS. I used to live in it. Still cost a fortune even to live in it. Have to move and cant sell it. What am I supposed to do? NOT rent it out? Not pumping up any bubble.

SOB

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Sir lastnail Gold Member Offline Australian Politics Posts: 30923 Gender:	Re: People Renting Chook Pens And Garages. Reply #69 - May 25^th, 2012 at 3:45pm Sir Spot of Borg wrote on May 25^th, 2012 at 2:41pm: BS. I used to live in it. Still cost a fortune even to live in it. Have to move and cant sell it. What am I supposed to do? NOT rent it out? Not pumping up any bubble. SOB Sell at a loss LOL
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Sir Spot of Borg

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Re: People Renting Chook Pens And Garages.
Reply #70 - May 25^th, 2012 at 4:03pm

Sir lastnail wrote on May 25^th, 2012 at 3:45pm:

Sir Spot of Borg wrote on May 25^th, 2012 at 2:41pm:

BS. I used to live in it. Still cost a fortune even to live in it. Have to move and cant sell it. What am I supposed to do? NOT rent it out? Not pumping up any bubble.

SOB

Sell at a loss Cheesy

LOL

you really are illiterate arent you. Read what I said. Doesnt matter what price is on it. There is no market. Banks arent lending and ppl arent buying. Its how it is in oz.

SOB

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Sir lastnail

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Re: People Renting Chook Pens And Garages.
Reply #71 - May 25^th, 2012 at 4:23pm

Sir Spot of Borg wrote on May 25^th, 2012 at 4:03pm:

Sir lastnail wrote on May 25^th, 2012 at 3:45pm:

Sir Spot of Borg wrote on May 25^th, 2012 at 2:41pm:

BS. I used to live in it. Still cost a fortune even to live in it. Have to move and cant sell it. What am I supposed to do? NOT rent it out? Not pumping up any bubble.

SOB

Sell at a loss Cheesy

LOL

you really are illiterate arent you. Read what I said. Doesnt matter what price is on it. There is no market. Banks arent lending and ppl arent buying. Its how it is in oz.

SOB

then give it away Cheesy

LOL

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Baronvonrort

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Re: People Renting Chook Pens And Garages.
Reply #72 - May 25^th, 2012 at 4:29pm

Sir Spot of Borg wrote on May 25^th, 2012 at 4:03pm:

you really are illiterate arent you. Read what I said. Doesnt matter what price is on it. There is no market. Banks arent lending .

The banks are not lending to those losers who cannot repay a loan so you are stretching the truth here.

Drop the price and you might get some people interested in buying it.

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Sir Spot of Borg

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Re: People Renting Chook Pens And Garages.
Reply #73 - May 25^th, 2012 at 4:31pm

Baronvonrort wrote on May 25^th, 2012 at 4:29pm:

Sir Spot of Borg wrote on May 25^th, 2012 at 4:03pm:

you really are illiterate arent you. Read what I said. Doesnt matter what price is on it. There is no market. Banks arent lending .

The banks are not lending to those losers who cannot repay a loan so you are stretching the truth here.

Drop the price and you might get some people interested in buying it.

I dropped it AS I SAID ALREADY. Nobody is looking. Real estate says its not the price there just isnt anybody looking.

SOB

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« Last Edit: May 25^th, 2012 at 4:36pm by Sir Spot of Borg »

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Sir Spot of Borg

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Re: People Renting Chook Pens And Garages.
Reply #74 - May 25^th, 2012 at 4:40pm

Baronvonrort wrote on May 25^th, 2012 at 4:29pm:

Sir Spot of Borg wrote on May 25^th, 2012 at 4:03pm:

you really are illiterate arent you. Read what I said. Doesnt matter what price is on it. There is no market. Banks arent lending .

The banks are not lending to those losers who cannot repay a loan so you are stretching the truth here.

Drop the price and you might get some people interested in buying it.

I am not stretching the truth. They arent lending. And they arent lending to many businesses either. They have made the criteria a bit much prolly and ppl in certain areas etc.

They wouldn't give me a loan for 30k when I had 70k coming in 1 month from a sale and could prove it. Melbourne 1.2 years ago.

SOB

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