Posted to Waverley Leader (11/5/2011) on 15/5/2011 at 8:55 PM
Commenting on “FEDERAL BUDGET: Seniors miss out”
http://waverley-leader.whereilive.com.au/news/comments/federal-budget-seniors-miss-out/
Adrian Jackson, not everyone has the opportunity to earn a good income. Many families still face the hands-to-mouth situations now. True, there are dole bludgers, gamblers, and people "breeding" many children as you crudely put it, but then these are not the majority. Have you been divorced? Many couples are forced to sell their houses during the split up, because neither has enough to buy out the other half.
If you think owning a rental property is plain sailing, you can be very wrong. If one does not have additional income high enough to justify negative gearing, they are just asking for trouble. Rental property return is not as good as many expect, and for seniors, they are not in a position to wait for capital growth.
Service apartments are a better option for income flow then owning an apartment which costs an arm and a leg for many fees and charges. During tough time, don't expect 100% occupancy rate for the rental property or equivalent to 12-month rental income each year; sometimes the bond money is not sufficient to cover damage to the property and unpaid rent.
Commenting on “FEDERAL BUDGET: Seniors miss out”
http://waverley-leader.whereilive.com.au/news/comments/federal-budget-seniors-miss-out/
Adrian Jackson, not everyone has the opportunity to earn a good income. Many families still face the hands-to-mouth situations now. True, there are dole bludgers, gamblers, and people "breeding" many children as you crudely put it, but then these are not the majority. Have you been divorced? Many couples are forced to sell their houses during the split up, because neither has enough to buy out the other half.
If you think owning a rental property is plain sailing, you can be very wrong. If one does not have additional income high enough to justify negative gearing, they are just asking for trouble. Rental property return is not as good as many expect, and for seniors, they are not in a position to wait for capital growth.
Service apartments are a better option for income flow then owning an apartment which costs an arm and a leg for many fees and charges. During tough time, don't expect 100% occupancy rate for the rental property or equivalent to 12-month rental income each year; sometimes the bond money is not sufficient to cover damage to the property and unpaid rent.
