澳洲Australia property prepaid rent on sale date | Sydney


在澳大利亚 ANZ have charged me a govt. mortgage registration fee of $115 for a refinance - borrowing additional funds for construction on a block of land in QLD already mortgaged with ANZ. There were NO mortgage documents to sign with the new loan docs Ok, keen for some perspective on undermount vs drop in kitchen sinks. I know this topic has been discussed before, and in my view undermounts are a far superior result. However, is it worthwhile for an investment property, bearing in mind th


We finalised a property purchase on 6 June and were only informed today(3 July) by the PM that the tenants had prepaid rent to the previous owners and over $900 is owing to us. The PM had the hide to say they hope our solicitors deducted this from the payout figure. Since it's the first either the Solicitor or us have heard about it who is culpable? To retrieve it from the previous owners could likely involve more legal costs. It's our first purchase of a commercial property so I guess we'll know next time to check out prepaid rent.
Investor Mum  

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Hi Investor Mum

In my limited experiance my lawyer made an adjustment when the change over was self managed to be changed over to me and when it was property manager to me he told me to sort it out with the PM ( who hadn't billed them anyway ).

I now add that to the list of things to ask before settlement.

bundy  

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I had the same thing happen last year.

But I changed PM- it sounds as if you had the same PM through both owners. The first PM had paid the owner in advance, after waiting several weeks after settlement, and not having recieved advice otherwise. Despite a letter from my solicitor, the owner did not pay back.

It would have cost me far more than it was worth to collect (about $300- at a time when cashflow was extremely tight).

The solicitor did absorb the amount.

But in your case, if you had the same PM through both owners, imho, the PM should have sorted it out correctly.  

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yep take it up with the PM as they will have to explain why they did it..  

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Yes I would say its the PMs responsibility to ensure you get paid according to your rental contract. The fact that they at best made a mistake or wern't aware seems irelevant. Surely the onus of responsibility does not rest with you or your solicitor. I'm assuming the PM is the one who arranged the sale ?  

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Hi Investor Mum,

I've experienced the same problem except with a residential IP.
The PM paid rent to the vendor after settlement claiming he hadn't been informed of settlement date.

My solicitor advised me to go to the most convenient local court (Small Claims Division) and pay $60 to lodge a complaint against the vendor.
I filled out a "Statement of Liquidated Claim" form with the amount being claimed plus $60 lodgement fee.

The statement of claim must be served on the defendant in one of the following ways...
1: You deliver directly to defendant
2: The court will serve by post ($25)
3: The sheriff will serve ($40)

The defendant is "liable to suffer judgement unless notice of the grounds of their defence, is received in the registry, within 28 days after service of the Statement of Claim" etc etc etc....

I hand delivered the claim to the vendor who sent me a cheque within days!!!

Be warned, you'll need one or two spare hours to hang around the local court waiting to see someone just to get the form!!!
But for a $60 fee, which is paid for by the defendant, I found it to be a very rewarding experience.

Good Luck,
Crystal  

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I beleive the person who worked out the settlement figure should have calculated the rent adjustment .

My understanding is that the purchasers soliciter works this out - along with the necesssary adjustment for any unpaid rates , rates adjustment + any unpaid land tax . After calculation , the figures are sent to the vendors solicter for agreement.  

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Lets just hope the defendant is not an axe weilding loonatic shall we ?  

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I must admit, I was very scared and ready to run at the first sight of an axe or a fist!

Cheers,
Crystal  

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