Rental Properties - A 'New Thing'?

No doubt some like to pay for that flexibility. I rented for the first 10 years away from home, and in that time lived in 13 different residences. As I recall, the rent was never a significant part of my income. But when I met my wife it seemed more sensible to buy something. Even though we only stayed in that first house for 3 years, it was enough to start down the road to home ownership. Now we are retired and can live comfortably on very little money as we are not paying rent.

If transfer of property was treated like any other second hand goods, moving would be much easier. It is mainly red tape (real estate agent fees, stamp duty, legal fees etc) that make it an ‘encumbrance’. Even so, I am now into my 6th house in 4 locations, so it is not a real barrier. Stay in one place for a few years and it is cheaper than renting.

Remember though that capital growth is impossible if the developer doesn’t have an exit. Capital growth is also challenging if rents don’t keep pace with reality.

I totally understand that answers to these issues have been given in this topic and may apply to an actual scheme if and when such a model exists in Australia.

Wash your mouth out. Those two words should never be used together in Australia. :rofl:

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OT but amongst friends (I hope)

I got a bit brave (re ‘simple tax’) since ignoring anything footy in Victoria (if not Australia) is normally a deportable offence yet here I am.

The tax codes seems to be >14,000 pages (2015) for Australia whereas the US manages in only 2,652. I think we have many, many, many more embedded examples so maybe not a 1:1 comparison?

yet it is apparently easier to pay here for businesses. Amazing.

  • the screens are from a Treasury Powerpoint Discussion paper google found.
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‘New to Australia’, at least in a comparative sense.

A fail. One should wonder about the competence or underlying goals of those who draft related legislation as well as those who may have thought nothing special was necessary to regulate what is, at the end of the day, private property. This is a far distance from legitimate build to rent models that were envisaged.

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Housing, in my view, is just as much an essential service as water, power, schools, et al.

When greedy capitalism fails to deliver, then socialism needs to be invoked.

What is the difference between a group of appartments built to be sold off to individual investors off the plan, or one or a few big investors off the plan? For the purpose of rental. Nothing in effect when it comes to renters rights.