Friday, December 7, 2012

Going overseas - renting my house out - do I notify my mortgage company?

Q. I am going overseas and I'm renting my house out (in Australia) I have a fixed rate mortgage - will my mortgage company charge a fee or change the mortgage rate??
Please only answer if you are in AUSTRALIA as different countries have different regulations/policies

A. Like the first poster said, not all mortgage companies allow that (mainly for insurance purposes)
If all is ok and you can do that, I strongly suggest they pay YOU the rent, not send it to your mortgage lender... the last thing you want is to go home and find out your home is in foreclosure because your tenants never paid.
Have them send payment to you, then you send it out to the lender.


How much is your monthly expense - Melbourne Australia?
Q. Hi, I'm just wondering how much everyone use for their expense.
For my case, I'm renting a house for 1343 a month, 386 car loan, around 250 for bills, insurance, phones and internet, and about 600 for food.
I am struggling a bit at the moment so I want to know how everyone else is going with expenses.

A. rent 675
expenses 300
food 100
pets 100
savannag, georgia


renting a house in Australia for a month?
Q. My sister, best friend and I are planning to visit Australia for a month this November and we want to stay for almost a whole month, we want to rent a house instead of staying at a hotel ( we couldn't afford to stay for a whole month in a hotel) is there a website where we can look at something like vacation houses for rent. about how much would it cost is u.s $$$ to rent a house for a month?

A. Landlords here are VERY picky who they rent to.
Sure, there will be temp rentals available but you will pay big bucks, there will be heavy conditions attached to the rental and a massive bond, or what you call, security deposit. Google Australian housing rentals --it aint that hard!


Can anyone tell me how much approx utility bills are in Adelaide, Australia?
Q. We currently live in the UK and will be moving out shortly. We are looking at probably renting a house that cost $300 AD (3 bedrooms) per week - what are the approx prices for phone line, internet, gas, water, electricity, insurances, etc we should be budgeting for and are there any other hidden extra charges that we should be thinking of.

A. Well my electricity bil is $600 a quarter, Gas is $100 a quarter, Water is $400 per year, we have our phone and broadband combined with iprimus and that costs us $150 per month. My car insurance is $350 per year, Foxtel is $100 per month, Car registration is $500 per year. An average family with 2 kids would also spend about $300 per week, well we do anyway.





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