Palucack want's to disposses you and it is being voted on next Wednesday.

Follow the link and make your voice heard.

www.reiq.com/articles/reiq-template-landlord-letter-to-qld-premier/

I asked her to RIS it but no seems to have time to actually consider consequences these days. Better of going with a one month moratorium on evictions and the government to help tenants cover rent.

this legislation is essentially a get out of jail free card for tenants with a free house thrown in!

No point sending her the REIQ letter though, she has gotten quite a few already! Just send her your owns thoughts and some positive policy suggestions.

better off negotiating a new rental agreement with existing tenants , you will have to cop a reduction , same as everyone else , think what will happen to property prices if there are thousands of empty rentals , asking for the tax payers to prop up your lifestyle is a bit rich in these times .

You're right Bazz, this downwards "adjustment" will be across everything shortly and all prices will need to be renegotiated including rent/lease payments. The landlord will have to roll the dice and decide whether they are happy to accept a lower rent or whether they are happy to have their house stand vacant for a period before they are forced to accept a lower rent. There's only one clear winner out of those two options to maintain cash flows

I want to know when the price of rates and utilities is going to go down, you know, cop a reduction like everyone else. Obviously there needs to be pay cuts to government employees too.

U did it cisco

apple.news/AHPyKuCtWQaWnaP0GQvaw-A

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cisco said..

Palucack want's to disposses you and it is being voted on next Wednesday.

Follow the link and make your voice heard.

www.reiq.com/articles/reiq-template-landlord-letter-to-qld-premier/

yeah, well, you did choose to speculate on the property market and shock, horror the market has moved down not up.

maybe we should pass the hat around for you.

I think the point being made is that if the tenant is unaffected and/or there is rental assistant then it is unacceptable for the tenant to abuse the situation and not pay rent because they can. The Feds are looking at putting place schemes to ameliorate the cost to landlords through tax concessions and land tax - so I guess the taxpayer will actually be kicking in if they follow through on this - if you back the tenant doing this, it is going to cost you too. I do not support evictions during this period and we have offered rent reductions - some surprisingly did not take up the offer, we might force the issue a little more for one in particular on a fixed income. I have not met a financial advisor(we have paid for independent advice) that likes property investment because they can not make profit from you - take what they say in this arena with a pinch of salt. I think tenants doing this will be in a serious situation at the end of this. We use a reputable property management company - we will not rent property to people involved in this, who would?

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log man said..

cisco said..

Palucack want's to disposses you and it is being voted on next Wednesday.

Follow the link and make your voice heard.

www.reiq.com/articles/reiq-template-landlord-letter-to-qld-premier/

yeah, well, you did choose to speculate on the property market and shock, horror the market has moved down not up.

maybe we should pass the hat around for you.

I get it, property is a form of capital that everyone can get, appreciates steadily and can be passed on to your children.

As a good socialist ideologue, you want none of that for yourself and have to look down on anyone who does to cover your feelings of jealousy and sense of being left behind.

mmm... a pretty long bow to draw in these dire times Cisco. Kinda smacks of Clive Palmer using Twisted Sister's 'We're not going to take it' without understanding the songs meaning.

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Kamikuza said..

log man said..

cisco said..

Palucack want's to disposses you and it is being voted on next Wednesday.

Follow the link and make your voice heard.

www.reiq.com/articles/reiq-template-landlord-letter-to-qld-premier/

yeah, well, you did choose to speculate on the property market and shock, horror the market has moved down not up.

maybe we should pass the hat around for you.

I get it, property is a form of capital that everyone can get, appreciates steadily and can be passed on to your children.

As a good socialist ideologue, you want none of that for yourself and have to look down on anyone who does to cover your feelings of jealousy and sense of being left behind.

Nah, not really. Us boomers have been dealt winning hands in terms of the real estate market and I think that alot of those people that became landlords thought that the gravy train would go forever. In fact it is speculation and investment and we should know that investments by their very nature are risks. The market has turned, and the rent you got 6 weeks ago is now halved.......at least. So that's what the market has determined. I just don't see how anyone can complain about that.

It is kinda ironic that the guys who always crap on about how great the Capitalist system is and how crap Socialism is are the first to crack it when their precious market hits the skids.

People need a place to live and places to live cost money, if rental prices do not meet the costs of the property the landlords will default, banks will foreclose and the renter will be out on the street. No winners in that scenario.

V
v
the winners are 1st home buyers ...
its about time this government sponsored ponzi scheme is halted , the huge debt housing has created is actually holding back Australias economic revival .

Too bloody right cammd!

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bazz61 said..
V
v
the winners are 1st home buyers ...
its about time this government sponsored ponzi scheme is halted , the huge debt housing has created is actually holding back Australias economic revival .

First home buyers?, are they the ones who can't currently pay the rent to landlords because they are unemployed. Maybe you mean Chinese investors when you say 1st home buyers, I think you can only lease in China as its illegal to own property so technically they could be 1st home buyers.

Whats it cost to build a house, are you expecting that cost to fall dramatically because I work in the supply chain to construction and all the gear I sell just went up between 5 and 10 percent as the dollar crashed. Maybe councils will reduce all the fees they charge to develop land and build house or construction workers will take lower rates. Your in CFMMEU aren't you, are they lobying for pay cuts to support 1st home buyers by making building a house cheaper.

I don't remember becoming a landlord - I remember borrowing more than the value of our own house, still mortgaged to buy my first investment property. If you think people that chose to buy investment property don't understand risk- you are very much mistaken. We have friends that predicted our doom when we embarked on this and they are still predicting our doom now. I don't think it will go this way as we are ahead comfortably - but who knows? As far as the whole boomer thing goes - it's irrelevant. We are dealt a hand in the era we were born and that is that - you don't hear many moaning and wanting to be part of the war years. The 25-35 age group, not everyone except the boomers, have a claim for tougher time with a 4% drop in overall wealth - its a lot, but it is not insurmountable for middle Australia that want to try. The issue to do with the cost of housing is about lack of public housing building by successive governments. People on lower incomes should not have to compete in the private market full stop.

pay rates have dropped a lot in the construction industry ,70% get no holiday pay most are now casual through labour hire or ABN , ,
if your building costs are increasing its through land speculating and greedy developers , GST tax pushes up building costs 10% ...thank Liberals for that,
cars are imported ,have they gone up 10 % over night ? ....no... your being screwed by your overseas suppliers ..simple .

Unions have been lobbying for years to end casulisation & scam contracting , they have little to no impact on building costs in the cottage industry .
what has shoved up costs are the safety standards ,some ridiculous which have filtered through from the mining industry eg not being able to stand on the deck of a stationary truck .
no affiliation with any union presently .

My parents are self funded and live solely off rent of two residential places .
How are they suppose to bills , food , taxes , etc ?
They sacrificed a lot to be self sufficient and live off a modest amount .
Makes you question why we should bother to be self sufficient

v
my elderly parents are the same except commercial buildings , the business owner flatly refused to pay rent , car dealer , they also have a taxi license but that's another issue .
gone from comfortable to now very worried .

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bazz61 said..
pay rates have dropped a lot in the construction industry ,70% get no holiday pay most are now casual through labour hire or ABN , ,
if your building costs are increasing its through land speculating and greedy developers , GST tax pushes up building costs 10% ...thank Liberals for that,
cars are imported ,have they gone up 10 % over night ? ....no... your being screwed by your overseas suppliers ..simple .

Unions have been lobbying for years to end casulisation & scam contracting , they have little to no impact on building costs in the cottage industry .
what has shoved up costs are the safety standards ,some ridiculous which have filtered through from the mining industry eg not being able to stand on the deck of a stationary truck .
no affiliation with any union presently .

do you think it will become cheaper to build houses now

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log man said..
Nah, not really. Us boomers...

Holy crap! You're a boomer!
So many pennies are dropping into place right now...

HAHAHAHAHAHAHAHAAAA! OMG!!! I should have known!

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kk said..
I want to know when the price of rates and utilities is going to go down, you know, cop a reduction like everyone else. Obviously there needs to be pay cuts to government employees too.

Ohhhh shiat! You've triggered me so hard. Because you are so right!

Council are cartels!!

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Gboots said..
My parents are self funded and live solely off rent of two residential places .
How are they suppose to bills , food , taxes , etc ?
They sacrificed a lot to be self sufficient and live off a modest amount .
Makes you question why we should bother to be self sufficient

There's no rent holiday on offer. Only a moratorium on evictions. If a tenant doesn't understand that and doesn't pay it will be a cash flow problem for them, but if they own the property they can pop down to the bank and borrow a bit to tide them over until they can get orders to get money out of the tenant, evict them and get a new tenant in

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log man
Nah, not really. Us boomers have been dealt winning hands in terms of the real estate market and I think that alot of those people that became landlords thought that the gravy train would go forever. In fact it is speculation and investment and we should know that investments by their very nature are risks. The market has turned, and the rent you got 6 weeks ago is now halved.......at least. So that's what the market has determined. I just don't see how anyone can complain about that.

It is kinda ironic that the guys who always crap on about how great the Capitalist system is and how crap Socialism is are the first to crack it when their precious market hits the skids.

Again you're showing us you're a poor student of history and economics.
Although I am curious, where are these rents that have been halved....or more?

Well it is great, isn't it. You "boomers" would have nothing if it wasn't for the capitalist system, and there'd be nothing for anyone else either except starvation and misery a la North Korea.

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Kamikuza said..

log man
Nah, not really. Us boomers have been dealt winning hands in terms of the real estate market and I think that alot of those people that became landlords thought that the gravy train would go forever. In fact it is speculation and investment and we should know that investments by their very nature are risks. The market has turned, and the rent you got 6 weeks ago is now halved.......at least. So that's what the market has determined. I just don't see how anyone can complain about that.

It is kinda ironic that the guys who always crap on about how great the Capitalist system is and how crap Socialism is are the first to crack it when their precious market hits the skids.

Again you're showing us you're a poor student of history and economics.
Although I am curious, where are these rents that have been halved....or more?

Well it is great, isn't it. You "boomers" would have nothing if it wasn't for the capitalist system, and there'd be nothing for anyone else either except starvation and misery a la North Korea.

Well, you've suddenly got a situation where 10% of the AU workforce are unemployed. They can't pay the previous rent amount. The house owners are going to have to get used to a reduced expectation of rent.
I wouldn't have thought this is a controversial view.

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Mr Milk said..

Gboots said..
My parents are self funded and live solely off rent of two residential places .
How are they suppose to bills , food , taxes , etc ?
They sacrificed a lot to be self sufficient and live off a modest amount .
Makes you question why we should bother to be self sufficient

There's no rent holiday on offer. Only a moratorium on evictions. If a tenant doesn't understand that and doesn't pay it will be a cash flow problem for them, but if they own the property they can pop down to the bank and borrow a bit to tide them over until they can get orders to get money out of the tenant, evict them and get a new tenant in

And what are the new tenants going to pay........a lot less.

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log man said..
And what are the new tenants going to pay........a lot less.

Nothing actually because the land lord will withdraw the property from the rental market.

Bought a property to live in in Mackay in 2010' market crashed with the mining bust, work dried up and prices dropped 40%, moved overseas for work and became a landlord because I didn't want to drop 200K, took a while to earn that.
have landlords insurance but you can be sure the banks have already found a loophole and I'll never see that them pay up for lost rent
in the states they are looking at doing a moratorium on rent and mortgage payments, everyone gets a free ride for 6 months except the banks

im the meantime qld have changed the proposal so that tenants have to prove they cannot pay, still no support for landlords

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cisco said..

log man said..
And what are the new tenants going to pay........a lot less.

Nothing actually because the land lord will withdraw the property from the rental market.

So you're saying that given the choice between getting reduced rent and no rent, landlords will choose to get no rent. I wouldn't have thought so.

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log man said..

So you're saying that given the choice between getting reduced rent and no rent, landlords will choose to get no rent. I wouldn't have thought so.

Not saying that at all. Given the choice of getting screwed over by a smart arse tenant playing the corona poverty game or having a vacant property, I will opt for the latter.

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cammd said..
People need a place to live and places to live cost money, if rental prices do not meet the costs of the property the landlords will default, banks will foreclose and the renter will be out on the street. No winners in that scenario.

I think that your analysis falls down at the last step. The bank forecloses and auctions property off to new owners. They don't tear it down, so total housing stock remains the same. The new set of owners probably have the same motivations as the old set, but are presumably starting from a smaller capital investment.