Search results

Done! A proper lease has been drawn up and included with the contract which is the rent they were advised which is definately already market value. Thanks for all the advice.

It's a small town, so very limited in choice and this keeps it simpler but otherwise I would agree with you. The company is at least part of a large chain, not some independant, so hopefully all will be done professionally. We do feel it's all ok, but this just formalises it all, they can feel...

My friends are requesting a six month lease be drawn up now. Turns out there is a lease in place between the vendor and tenant, it's self managed though. The lease was a six month lease which ended last year and it's just fornightly now and only 2 weeks bond held. They are requesting that a...

Thanks for that story TPFKAD, really opens your eyes as to what low life people there are out there. :( They're going to insist on an official lease being in place, so do you think they should make it a fixed term rather than periodic? Forgive me, I'm still quite new to all this, but amongst...

They're not buying it as an IP, it's a house they want to retire to so they do like the house and the area. The fact it comes with a tenant initially paying good rent is a bonus (as they want to pay it off before they retire to it). But this tenant isn't sure how long she wants to stay for as...

Thanks for the responses. Have advised they add that clause stating that a 6 month lease is to be in place for $x / week (they are happy to go periodic after that). The contract does say 'subject to lease' as James pointed out... it's in the country so they are probably just a bit more laid...

Thanks Alexlee, would never make you take responsibility for your helpful advice. :) They're not as concerned about how long the tenant stays for as it is short term, so they'd even be happy for a month to month lease. I guess they're just worried about signing a contract that isn't vacant...

My friend is purchasing a property which they were told has a tenant in it returning a reasonable rent according to the agent. All sounded good, but now we find out the tenant is a friend of the vendor and there is no lease agreement in place. The tenant wants to stay on, but is unsure how...