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Friday, December 30, 2011

Aussie Real Estate apartments and Homes advice


Americans don't always know how good they actually have it when it comes to certain things like renting their place of residence. Low income apartments in the private sector is a reality, with laws, enforceable laws, that protect the tenant from unscrupulous landlords who don't do or keep up with even the basic maintenance requirements before they become emergencies. And when a really unscrupulous landlord does let things get that bad and complaints are made to the appropriate governing authority they are penalized and made to do the repairs required.

Well at least that is my understanding from various sources, not just tv and movies. Yet the situation here in Oz and many other countries is not so good. The authorities that are supposed to enforce the laws and bilaws of the residential rental private sector are toothless when it comes to pulling a landlord into line yet can and do punish if not enable ready punishment of a tenant who defaults even to the least manner. And no real low income housing outside the government supplied apartments and homes.

There is no guidelines even to stop a landlord or agent from putting a medium or high income earner in a low cost property over a low income person who can ill afford the next price bracket up. Actually to buy an apartment here can be as expensive if not more expensive than buying a house. The Australian government has introduced a scheme to try and combat the low income housing problem but for some the answer is too little too late as they cannot get the savings together to move from where they are currently renting as the rent takes too great a percentage of their low income to enable any real savings to occur outside of to cover bills.
Homes for sale under the rent to own scheme are often a reasonable option provided the seller is realistic in his pricing and payment options for the buyer.

Unlike one fellow I have been watching the ads for in our local free community paper for the past few months. First few weeks his weekly payments advertised were top of the market for the suburb he listed it as being in. Then as the weeks have gone by he has raised the weekly payment listing to that of which one would expect for a property I the nearest much more expensive suburb. This could be his trying to cover his costs for a very easy to rectify mistake he has made each week he runs his rent to own ad. He does not give any details apart from the suburb the house is in, the weekly amount, and his mobile.

How can he fix this, well for starters in any paper if you look in the homes for sale section you see the details his has missed. Most rent to own homes listed in this section tell you a bit more than he has. Things like if a deposit is required, the overall price or term of payoff, the sizing of the homes as in how many bed rooms, bathrooms, fenced or not, and more often a better idea of its location. But one thing that has always fascinated me is no matter how well or badly advertised, I am yet to see a rent to own property advertised by a real estate agent as opposed to the private seller and actually be a rent to own, not a rental with option to buy at lease end.

Another thing I'd like to see is low income apartments and houses offered with moving assistance to those who need it most, that is the ones who need to move into low income housing but can't afford the move, which is easy enough to prove through government assistance and income records and expense records ie bank statements. The past rental records of the low income earner are looked into anyway so they, the real estate people, have about one quarter to one third of the picture there. An interview with the applicant or potential future occupant would be able to be used to gather the rest.



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1 comment:

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