Jan4kids

I know that a number of you do this already and am after picking your brains.

I would like to buy my neighbours house, build a second house on the block and rent them out to incoming immigrants for 6 or 12 month leases.

They would be fully furnished,bedding towels supplied, pets welcome (on acreage) and pool. I would do the initial airport pick-up and help with settling in Medicare, TFN, first Supermarket trip and general support after arrival.

What's the best way to go about borrowing money for tax purposes, registering as a business and what insurances are required? (and probably quite alot of other stuff I haven't even considered yet lol!)

We are in a popular area for newly arrived peeps, the State Primary is excellent and the High School improving all the time, close to M1, Civilisation/shops and Theme Parks.

Being just next door I could offer help as much as it is needed/wanted.....and when we are too old to do it anymore I will have a huge sense of achievement having helped people and we will own 2 acres of prime residential land......a win win situation surely??

If you are yet to arrive would you like a service like this? and what else could I do to help your move go smoothly??

If you are doing this kind of thing already...what are the pitfalls, highs and lows??

Your input, advice etc would be greatly appreciated
Thank-you, Jan

carolinephillips

I would have loved to have had a meet and greet service, and how much less stress there would have been. Even 2 years after arriving I still don't know all the tips and tricks, and quite often learn the expensive way how not to do it. A human help desk would be lovely. (I had of course the wonderful expats to help on here, but it is local knowledge with an instant reply that is the best thing.)

Jan4kids

Thank-you Caroline We DID employ a lady to do just this when we arrived....but felt ripped off. I intend to be a friendly face/instant support network to make those first few weeks a little bit less of a list of 'unknowns'. An awake local person to pick you up from the Airport with a trailer for the extra baggage allowance would be a definite plus too! lol!

I would get a sense of community and achievement whilst earning some money without actually being contained in a place of work....excellent!

Off to do research

Jan

irishbloo

It sounds like a great idea.I suppose with your research you would have to figure out how much to charge.
Do you charge a different amount if people just want to rent the house as opposed to having the full package.
Will people want to pay extra if they are watching their money due to the exchange rate.
Do you get cleaners in to clean the house once they vacate it or do you.
Will you enjoy being on the beck of call.
What do you do if you want to go away.Once you start making money its very hard to take a break and turn down the cash.Plus do you need a licence.

NickyC

I'd have thought that very few people would want to rent a furnished place for as long as 6 or 12 months. What would they do with their own furniture when it arrives? If they're not shipping but buying new when they arrive, they'll probably want to get on and buy it, rather than living with someone else's furniture for months.

I think this sort of venture is OK for short term lets - 1-2 months max - but not for much longer. Short lets means you're up for more changeovers and associated work and costs.

There was another poster on BE a few years ago who had a couple of houses that they let to new migrants. I believe they stopped doing it as it was more cost effective to just let the houses as a 'normal' rental for longer periods rather than having the hassle of a changeover every month or two with associated empty periods between tenants.

Just a thought...

Kooky.

Get in touch with a BE member called "Rudi" as she does something fairly similar.

ozzieeagle

It'll work well.... consider the massive Indian Influx as well as they really trust people from the UK.

It's something I'm considering post redundancy if it happens.... we are getting redundancy noises at Apost... I reckon it's over 5 years away though.

Thats a Job that the wife probably wouldnt want to do, so she would stay working lol hence we still keep a steady income stream.

Thats Win Win Win

Bix

I think Nicky is right ref time frame.

Most will have stuff on the water and those that don't will likely be looking to purchase or look for a longer term rental.

Everyone will not be in that situation of course but maybe they tend to be apartment seekers.

JackTheLad

I don't think people turn up looking to rent a long-term fully furnished acreage rental. It is usually a stepping stone to either getting their own place or renting an unfurnished place. I also can't think how many people would want to rent a furnished house on an acreage?

I think the meet and greet service is nice and giving them pointers and advice would be great, but maybe I'd be looking at getting an apartment or small house for your project rather than a huge plot of land.

JTL

jad n rich

Is the block next door zoned for multiple dwellings, are you going to be able to put up another house on the block thats not my experience of small acerage in SE qld. Even the old family subdivision laws were changed some years ago.

moneypenny20

Rules 'may' have changed recently. A house near us recently applied to subdivide to two separate titles and got the ok Everyone has put in objections but whether they will come of anything is another question.

Jan4kids

Sorry been away for a day or so.....

The house next door to this one has two dwellings, so shouldn't be a problem....in theory*. It would stay as one title. I'm talking to the Council this week and seeing if it counts as a business from a residential block, and any other problems that it would create.

We had quite a few worries bringing our dog in so I was thinking the pet friendly angle would be the biggest attraction, hence my thinking of a property owned by us, on a biggish bit of land near to us would be good (and an investment too).

*Looking at it in more detail we realised might leave ourselves short, so my Financial Advisor (Husband) suggests trialing the service by initial contact whilst still in the U.K, sourcing/securing accommodation for clients, meet and greet from the airport, first Supermarket trip, hire car pick up next day and assistance with Medicare/TFN etc THEN when we are sure we can make a go of it, take out a business loan and buy a property specifically for the purpose.

I think the advice regarding length of lease is a very valid point too.

I was really hoping someone whose doing this already would come along.....but I will look up 'Rudi' and make contact.....thanks for the heads up All kinds of issues.....insurances, what if I really can't stand my clients

Thank-you for listening to my ramblings, this was just a seed of an idea when I first posted, but appealed to me immensely as I like to help and struggled so hard with all the 'unknowns' before we arrived and bringing a much loved pet made it all much harder. I just want to know if it's a wanted service, that I can do it efficiently/professionally along side being a Parent/Wife etc....

Thank-you Everyone

asprilla

I think that it is definitely a wanted service. However my comments are:
a) It will be a fairly large capital investment. Whereas the business income, and profits, won't be too high.
b) The current financial climate, coupled with the strength of the AUD, is not in your favour.
c) I agree that 6 to 8 weeks is the right time frame for the lease. Possibly as long as 3 months ?