Brisbane property advice | ExpatWoman.com
 

Brisbane property advice

1100
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EW OLDHAND
Latest post on 13 February 2011 - 12:44
Hi Moonie, I actually posted about your situation on a property investment forum in oz to see what property investors would know about it, and the replies I got were: What the. 4 years is crazy, and to be getting charged advertising fees is also off, what advertising are they doing for $1000 try this company, they will not charge you advertising fees and they do a good job www.queenslandrealtygroup.com.au Money for jam. Engage a commercial agent who knows the market around pinkemba etc not some 'fleecing' agent. anyway, there's another company in there if you want to try that one as well...
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EW NEWBIE
Latest post on 11 February 2011 - 12:12
Is the company you used http://www.ozzieopportunities.com/properties.html if so, you may have little rescourse through them as they seem to act as agents and appear to have no ties to Australia.. Although, you may find that these companies (seem to have been deregistered then re-registered in the early 2000's) may be affiliated..http://www2.search.asic.gov.au/cgi-bin/gns030c . If you have an Australian mortgage, have them confirm the Lot And RP of the property to see if it is actually available and fit for rent.... They will hold the deeds.... This all seems very shifty to me as Brisbane has seen good growth and four years is a long time to be vacant... Do you know anybody who lives in Bne or could you secure the services of a local solicitor / law firm to investigate this. You can also (cheaper too) hire a private investigator to check out the property and real estate agent to find out what is going on (eg are they discouraging tennants or leasing it on the side, that sort of thing)... The advertising costs seem a little out of control so please also look into other agents... Find out what the commercial property is good for (eg manufacturing,, business centre etc) and find an agent who specialises in this field... sorry if this is disjointed.. am thinking on the run..
1100
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EW OLDHAND
Latest post on 11 February 2011 - 11:38
That could be the case that the market is slower, however there is still a market, and i'm really surprised a property has remained untenanted for 4 years! Don't ask the same agents who you're sending in for leasing, as they should only be dealing with leasing, however you can ask them to put you in touch with their sales side and ask them to send someone in to do a valuation and to give you an idea of how much you could sell for, then do your calculations, if it works out better for you then sell... Just my opinion, but I think it will be easier to sell a already tenanted commercial property, but best to ask the sales agents about that.... Good luck hope you get it sorted!!!
161
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EW NEWBIE
Latest post on 11 February 2011 - 11:20
Yes, Definitely check that all contracts are in tact etc... the other thing is are you sure your property hasn't been let to someone off the books? You should get a few agents to go through the property and do a rental appraisal so they can give you an idea of how much they think the property could rent out for, also ask them to give you some ideas of what you can do in order to make the property more attractive (eg, maybe furnished offices are more desirable in the area, or maybe offer a first two months free, as in the long run it will work to your advantage if you're able to rent out the property) Just do a google search "brisbane commercial agents" and a list of agents come up, send them an email saying you have a commercial property and you're looking at engaging a leasing agent, can they please send someone in to have a look and give you a rental appraisal and to send you their fees. You can even find companies which you only pay a % of the rent (usually around 6-9%) rather than paying for advertising as well... Most agents will go in and have a look with no obligation and so its worth you doing the leg work. Another thing to consider is selling, and buying something else that may be easier to rent out... So many great ideas - thanks so much!! We would love to sell it and cash in on it but the agent has told us that the buying/selling market is even slower than the rental one. Maybe whilst searching for other agents, I could also see what they suggest.
161
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EW NEWBIE
Latest post on 11 February 2011 - 11:18
Good that the property exists....but....more important is in this case the documentation is watertight that you actually own the property ! We're not worried about that - we are sure the property exists and the documentation is in order. All we want is to rent it out!!
1100
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EW OLDHAND
Latest post on 10 February 2011 - 09:52
Another thing, just for future reference, if companies want to charge extra for advertising and you agree to it, you should make it a condition that you are sent a copy of the advertisements that you're paying for. So if they're putting it in the paper, they should send you a copy of the paper (or a scanned copy of the advert with date showing) and if they're putting them online then you should be given the link to the advertisements. Too many companies charge for "advertising" and either don't put an ad up at all, or just take your money and don't even list specific ads to your property, but rather generalized ones, and you may not be on the top of the list... I think you should move companies anyway, as I think now that they've gotten away with 4 years of not leasing out they're not planning on doing much about it....
1100
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EW OLDHAND
Latest post on 10 February 2011 - 09:43
Yes, Definitely check that all contracts are in tact etc... the other thing is are you sure your property hasn't been let to someone off the books? You should get a few agents to go through the property and do a rental appraisal so they can give you an idea of how much they think the property could rent out for, also ask them to give you some ideas of what you can do in order to make the property more attractive (eg, maybe furnished offices are more desirable in the area, or maybe offer a first two months free, as in the long run it will work to your advantage if you're able to rent out the property) Just do a google search "brisbane commercial agents" and a list of agents come up, send them an email saying you have a commercial property and you're looking at engaging a leasing agent, can they please send someone in to have a look and give you a rental appraisal and to send you their fees. You can even find companies which you only pay a % of the rent (usually around 6-9%) rather than paying for advertising as well... Most agents will go in and have a look with no obligation and so its worth you doing the leg work. Another thing to consider is selling, and buying something else that may be easier to rent out...
98
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EW NEWBIE
Latest post on 10 February 2011 - 08:49
Good that the property exists....but....more important is in this case the documentation is watertight that you actually own the property !
161
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EW NEWBIE
Latest post on 10 February 2011 - 08:11
I am sure the property exists - DH went to see it on one of his trips to Brisbane:)
5400
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EW MASTER
Latest post on 09 February 2011 - 11:40
Are you sure the property exists? I wasn't going to be that blunt. ;) The development certainly exists...I'd suggest contacting the REIQ and making sure there is a water-tight, legal document showing ownership. Whoops, sorry, me and my big mouth.. I'll try and be more polite. There have been so many time-share and similar scams in Europe that, given the circumstances, I wouldn't be surprised if there was something fishy going on here.
2340
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EW EXPERT
Latest post on 09 February 2011 - 11:32
And now, because of aforementioned irritating ad, I can't edit my post. That should have been a :( at the end...
2340
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EW EXPERT
Latest post on 09 February 2011 - 11:31
Oh...apologies for the long link causing the ad's to go over the posts. At least it does on my computer and short of remiving the link, I don't know how to fix it. A hitch not fixed in the recent overhaul. (Or is that under-haul since I actually think the site looks awful now? ;) )
2340
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EW EXPERT
Latest post on 09 February 2011 - 11:28
Are you sure the property exists? I wasn't going to be that blunt. ;) The development certainly exists...I'd suggest contacting the REIQ and making sure there is a water-tight, legal document showing ownership.
5400
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EW MASTER
Latest post on 09 February 2011 - 10:41
Are you sure the property exists?
161
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EW NEWBIE
Latest post on 09 February 2011 - 10:39
Some really great advice - thanks so much ladies:)
133
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EW NEWBIE
Latest post on 09 February 2011 - 10:22
Such excellent advice BMAP and G. One last thing occurs to me off the back of Green-ish's post - go check out your contract with agent. Are you tied in to a period of time with your agent when you can't terminate the agreement? That's the only reason I can think why they don't think they need to pull their fingers out...
2340
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EW EXPERT
Latest post on 09 February 2011 - 10:18
Monnie, search commercial agents online - Raine and Horne, Kings, Ray White Commercial, Lend Lease, they are the ones I can think of off the top of my head. Get em ALL through your property and pick the ones you think are most on the ball. [b'>Get hold of the ombudsman/regulator too.[/b'> Go GIRL! I second that! Here's the link to the Ombudsman's site...however, they don't deal with Real Estate agents (there is a link on the site for REIQ who does). http://www.ombudsman.qld.gov.au/AboutUs/OurOffice/AgenciesIssuesoutsideourJurisdiction.aspx Since "Ozzie Opportunities" is appears an overseas based company, REIQ might be able to tell you what legal recourse you have, if any. I also agree you should contact as many commercial leasing agents as possible. The development seems to be in a genuinely good location so I can't imagine why it hasn't leased in all of this time (assuming acceptable lease conditions etc) Good luck!!! <em>edited by Green-ish on 09/02/2011</em>
687
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EW GURU
Latest post on 09 February 2011 - 10:10
I would have thought that location would be pretty good - fairly central - although perhaps there has been some decentralisation in recent years, with industrial sites springing up down south and up north. You know what I would think I'd do? Instead of searching for agents per se, I would go online and search for properties similar to yours. Find out who the agents are advertising them and whether there is one or 2 agents who seem to dominate that particular market. They are the ones who are going to get the ad hoc enquiries and maybe some economies of scale with their advertising. Hope this helps.
133
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EW NEWBIE
Latest post on 09 February 2011 - 10:04
Monnie, search commercial agents online - Raine and Horne, Kings, Ray White Commercial, Lend Lease, they are the ones I can think of off the top of my head. Get em ALL through your property and pick the ones you think are most on the ball. Get hold of the ombudsman/regulator too. Go GIRL!
13
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EW NEWBIE
Latest post on 09 February 2011 - 10:02
we used to have Raine&Horne as our agent until they changed the management their service was slacking. We switched to REMAX (CARINA branch) and have been satisfied. They were quick to secure tenants etc. hope this helps. good luck! edited by dangsu on 09/02/2011 Was yours a commercial property too? In Australia would there be special agents for commercial property or a general agent? Sorry ours is a residential. but i was referring to the agent you could possibly approach. They surely have separate division for commercial/residential. <em>edited by dangsu on 09/02/2011</em>
247
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EW NEWBIE
Latest post on 09 February 2011 - 09:55
Is it easy to get a mortgage and buy property in AUS without being a resident there?
133
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EW NEWBIE
Latest post on 09 February 2011 - 09:48
Look I'm not in commercial property but it seems like a good location to me? I know there are a lot of businesses who have set up shop in that area. You need to look up other agents and get them through the property quick smart to give you their feedback. Also, get out a copy of your contract with your current agent and have a good look at it. Commercial real estate agents will have a professional standards body that they need to answer to - do a google search to find out who this body is if it is not mentioned in the contract (it should be). Once you know who to ring, ring them! and ask them questions. Don't go in all guns blazing first, just tell them you're trying to make sense of what your rights are, how long it has not been rented out etc etc. If guns need to be blazing on this one, they'll rev up quick smart on your behalf. The more research you do beforehand the better equipped you will be, don't just sit back and take it, get in there and solve your problem. good luck!
161
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EW NEWBIE
Latest post on 09 February 2011 - 09:43
we used to have Raine&Horne as our agent until they changed the management their service was slacking. We switched to REMAX (CARINA branch) and have been satisfied. They were quick to secure tenants etc. hope this helps. good luck! edited by dangsu on 09/02/2011 Was yours a commercial property too? In Australia would there be special agents for commercial property or a general agent?
161
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EW NEWBIE
Latest post on 09 February 2011 - 09:42
Sam - it's called the Gateway Business Centre and apparently it's on the airport road. Do you have any idea of whether it's in a good location? Do you know of any reputable agents for commercial property in Brisbane?
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EW NEWBIE
Latest post on 09 February 2011 - 09:36
we used to have Raine&Horne as our agent until they changed the management their service was slacking. We switched to REMAX (CARINA branch) and have been satisfied. They were quick to secure tenants etc. hope this helps. good luck! <em>edited by dangsu on 09/02/2011</em>
133
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EW NEWBIE
Latest post on 09 February 2011 - 09:23
Have a look at Ray White Commercial or the like to see what commercial properties in your immediate area are renting for - they have a commercial section. Contact another agent and ask them to go round and have a look at the property and give you their views - just the other agent turning up to ask to get the keys and see the property might translate into action? Where is it in Brisbane? I have a cousin who works in commercial real estate, but reluctant to go that route first off in case he can't help you.
161
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EW NEWBIE
Latest post on 09 February 2011 - 09:15
I'm looking for some advice from any Australians or people from Brisbane. About 4 years ago we bought a commercial property through Ozzie Opportunities in Brisbane. In these 4 years it has never been rented out and we have had to pay the mortgage and all of the expenses ourselves. Our agent in Queensland who is supposedly trying to rent it out for us just keeps asking for more money for advertising but it never comes to anything. We have just paid AUS1000 for advertising and he said there were only 2 enquiries from people shopping around. To make things worse we have just been notified from our bank in Australia that the mortgage rate has now gone up to 10.5%!!! At this rate if we don't rent it out any time soon and start earning some money from it, we will have to default and lose everything. Does anyone have any advice on how to go about in finding another agent as we have the feeling that this agent is taking us for a ride. TIA
 
 

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