Cooling off period - what can be done?

[ptrixs]

Hi everyone,

I'm close to the end of my cooling off period and everything is pretty much sorted. The good thing is that the owner wants to rent out the property from me for the next 6-8 months whilst their property is getting built. However I have a few concerns.
1. Shower leak and can be fixed. Since the owner is not actually moving out, if I do repairs and they cannot use the shower, do I then have to cover their costs to shower elsewhere for 1 or 2 days?
2. If they slip in the bathroom and hurt themselves - am I at fault for not fixing the shower leak?
3. They currently have a fence around the pool which my building inspector mentioned that it may not apply to current regulation and that the gate doesn't close properly. Again, would I not be responsible to fix those issues whilst they still live there (renting from me)?

I'm just trying to find out where I can negotiate further reductions off the price and also cover myself whilst its getting rented from the original owner....

[willair]

Ptrizs,
imho,
From a landlords point of view,give your new lessee one weeks free rent, at least that starts everything off on the right mindset,fix up the fence on the pool First, then have a plumber fix up the bathroom,you have a moral responsibility in real estate to look after the people that rent your properties,if you try to use this to drop the sales price
on the settlement price then i think if you have already put the offer on paper you are wasting your time,if someone did this to me i would just put the contract in the bin..
good luck.
willair......

[PT_Bear]

If the fence around the pool is not legal, perhaps the current owner should fix it before settlement...

[geoffw]

I normally make an offer "subject to finance, and building and pest inspection". That leaves me with some room for negotiation if there's something wrong.

A leaking shower may be simple and cheap, or may be potentially very damaging (depending on where the leak is- if it's showing on the other side of a wall, there's trouble!)

You may still be in a position to adjust your offer. Talk with the building inspector about how much it might cost to fix.

But now that you have been informed, you are right- there's no comeback if you leave it and someone hurts themselves.

As for compensating for lost showers? Two days rent free should do it. (just be careful of soap in the swimming pool :D )