Shed for Rent!

Posted on : August 9, 2012

London Shed for Rent!

A SAVVY homeowner is making a bit of extra Olympics cash — by renting out her SHED to Games guests.

Grandmother-of-four Tricia Jones has transformed the hut at the bottom of her garden into a mini sports stadium, and is offering it out to tourists over the coming weeks.

The unique getaway in Leytonstone, East London, is just two miles from the stadium, and comes complete with a bed, heater and mini fridge.

Tricia has also gone the extra mile, kitting out the shed with a mini running track and a full-sized winners’ podium, along with a host of Union Flags and Olympic memorabilia.

And with hotel prices in the capital up 69 per cent during the Games according to TripAdvisor, Tricia’s quirky alternative is a snip at £40 a night.

The 64-year-old said: “I just wanted to be part of the Olympics in some way, it’s going to be a very exciting few weeks.

“I didn’t have any rooms spare to let out, but I heard that people were camping in gardens and I got a bit carried away with my Olympic shed.

£40 a Night

 Go straight to this article in The Sun , as it is very entertaining – the comments are even better!

  1. The flag is the wrong way up also!
  2. Flower pots are not toilets!
  3. And many more classic comments!
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Steel shed price Rise

Posted on : September 19, 2011

Steel Price Rise Due in next 3 to 7 Weeks

BlueScope Distribution has notified customers of an impending two tier price rise in the coming weeks. It involves a base steel rise of between $60 to $120 per tonne on most product groups. As well they will be implementing specific surcharges to recoup key costs. These surcharges will be provided shortly.

 

Steel Shed Prices will rise with Australian Steel?

 

This comes after a significant bonus of over $3 million was paid to Key BlueScope Management (11 people) as a reward for leadership – not profit incentive? The notification states that volitilty in steel prices, rising labour costs, rising freight costs, rising processing costs, rising warehouse costs, and a rise in general utilities are the reasons. Along with the iron ore and coal price increase that has caused the steel price rise – the others will be included in the additional surcharges.

They state they have begun to receive notice from their steel suppliers (BlueScope Steel) of pending price increases. This does not look good for further sales of BlueScope Steel in the shed industry. With imports on the rise at cheaper prices currently – this price rise will further erode steel sales by BlueScope.

It will also follow by a notification by One Steel on its price increase – so many of the big shed manufacturers will be importing direct to keep competitive in the shed industry. Many of the big reseller shed companies will want to lock in prices for as long as possible to avoid this increase. Negotiations are already occurring between some of the big rollformers and BlueScope, along with talks between rollformers and shed companies.

 

Have you been told of this price rise?

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Interest Free Shed and Garage Prices

Posted on : March 16, 2011

Interest Free, the joke is on you!

In Summary

  • There is no such thing as interest free finance; the finance company will make money on any deal.
  • You are paying at least 7.8% interest and you are paying most of this upfront.
  • If you pay one day late outside of the fictional interest free period you are up for up to 27.8% interest
  • If you are extremely disciplined and pay off the loan in full before the fictional interest free period is over, then it is actually quite a reasonable interest rate.

The details

There is no such thing as interest free when buying sheds and garages, and in fact it is beyond Shedeye’s comprehension how this practice is allowed, given our strict Trade Practices Act.

The interest free deal is touted by many of the major shed companies in Australia and is little different to the tactics that major retailers use.

The first thing you need to understand is that you can usually only get finance for the Shed Kit price, as the cost of erecting the shed, the slab and site preparation is not covered.

Let’s say you are offered a $5,000 shed kit price and the Shed distributor is offering this as a 12 months interest free deal. You are definitely paying interest, and in fact you are generously paying the interest up front, and here is why:

  • The distributor has to pay a “Fee” to cover the interest free period of approximately 5%-6% for the total 12 months upfront. In dollars this means approximately $239-$284 paid up-front.
  • There is a $65.00-$120.00 “Establishment Fee” paid up front to take out the loan.
  • There is a $5-$7 “Monthly Account Keeping Fee” for the duration of the loan.

Does this look interest free to you?!  This equates to an additional $364 to $488 on top of your shed price. This means that the distributor will charge you this amount to cover their costs and label it interest free.

You should have been able to get the shed for a price of $4,522 – $4,646 without signing up for the interest free DEAL! To put it another way, you’re paying between 7.8% and 10.8% on top of the price of your shed.

There is no such thing as an interest free period, you simply pay more for the shed!

As far as getting finance for your sheds, garages or carports, this is the second cheapest option after drawing down on the equity in your house. However, if you do not pay off the entire balance of the loan before the interest free period lapses, you’ll have to pay approximately 20% interest on the entire outstanding balance (the same way credit cards operate). For example, if you pay off the balance on the first day AFTER the 12 months interest free period expires, the shed will now cost you $6,000.00 and you would have paid a massive 27.8%-30.8% interest rate.

If you don’t plan to pay the loan off within the interest free period, you must consider different options. In order of preference, redraw on your existing home loan, get a line of credit for any property you have or take out a personal loan, secured if possible. If all of these are out of the question, then do not buy the shed!

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9 of 10 – Things You Must Know Before Buying A Shed or Garage!

Posted on : September 4, 2010

Do You Want A Steel, Wood or Plastic Shed or Garage?

Steel sheds are the most versatile and affordable product in the market place.

Plastic sheds are usually only suitable for smaller sheds.  Wood sheds and garages are usually twice as expensive (installed) than the steel shed or garage equivalent.  You do have more variation in the styles by using wood, however given Australia’s termite problems, steel is a great option.

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2 of 10 – Things You Must Know Before Buying A Shed or Garage!

Posted on : August 21, 2010

How To Get Finance for Your New Shed or Garage?

Before you consider finance through the shed or finance company, do your sums first, if you pay for the shed in cash; you can often negotiate a much better deal.

If you don’t have enough cash to pay for the shed or garage outright, what can you do?

It may be cheaper overall to either get a personal loan or use the equity from your home so you can pay for the shed or garage in cash and get a cheaper price than going through a finance company as you may have to pay establishment fees on top of the price of the shed or garage.

Some shed and garage finance companies can provide finance for the building and concrete as well, but it will depend on your financial circumstances – how much your income and assets are and how much debt you have.

Some shed and garage companies provide consumers with interest free finance.  You can pay fortnightly or monthly through direct debit or credit card payments.  Once you receive delivery of the shed or garage, your payment plan will commence.  But again, somebody is paying for the finance, usually through a more expensive purchase price, there is no such thing as a free shed or garage after all!

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