Hi All,
I was wonder if anyone else has had this problem before?
Currently have an investment property in Perth and have had a great tenant in there for 12mths. The property manager till now has also been great.
She suggested that I only sign the new tenant up for 6mths in case she didn't work out and we could get someone else in. I was probably getting just above market rent when I first got this tenant in. Of course with rental prices increasing substationally in the last 12mths or so after the 6 mths the PM suggested that I only make a small increase to the rent so I don't scare the tenant off and have to pay all the extra fees for getting a new tenant and only do another 6mth lease so I could make small increases to rent if required (the rent was still good and thought it was a good idea of the PM)
But when the PM sent out the lease she sent the tenant a 12mth lease not a 6mth as we had agreed. The 6 mth has just passed and I had been trying to get onto my PM for about 3 wks to negotiate a rent increase, but my emails were never returned. So I called with no answer and left a message. No return call, so called again and got through. She then
informed me that she had made a mistake and sent a 12mth lease not 6.
But she said that she would cover the rent increase difference. I asked her to give me an appraisal of what she thought the rent might be ?
The tenant was paying $190pw (first 6mth) I got an appraisal after the 6 mth for up to $250pw (I went for $210pw to keep the tenant) She has come back saying she was unsure of what the place might be worth as there was little on the market in the area. (I have looked and there isn't)
I have contacted other PM's to see what the market rent is and I have gotten anywhere from $250-$290p/w and $280-$300pw
Not sure if I should be that rude and ask for the PM to pay the extra $40pw+ (yes I am soft) or negotiate something else?
Any help (or a kick in the behind would be appreciated ha ha)
Obi
I was wonder if anyone else has had this problem before?
Currently have an investment property in Perth and have had a great tenant in there for 12mths. The property manager till now has also been great.
She suggested that I only sign the new tenant up for 6mths in case she didn't work out and we could get someone else in. I was probably getting just above market rent when I first got this tenant in. Of course with rental prices increasing substationally in the last 12mths or so after the 6 mths the PM suggested that I only make a small increase to the rent so I don't scare the tenant off and have to pay all the extra fees for getting a new tenant and only do another 6mth lease so I could make small increases to rent if required (the rent was still good and thought it was a good idea of the PM)
But when the PM sent out the lease she sent the tenant a 12mth lease not a 6mth as we had agreed. The 6 mth has just passed and I had been trying to get onto my PM for about 3 wks to negotiate a rent increase, but my emails were never returned. So I called with no answer and left a message. No return call, so called again and got through. She then
informed me that she had made a mistake and sent a 12mth lease not 6.
But she said that she would cover the rent increase difference. I asked her to give me an appraisal of what she thought the rent might be ?
The tenant was paying $190pw (first 6mth) I got an appraisal after the 6 mth for up to $250pw (I went for $210pw to keep the tenant) She has come back saying she was unsure of what the place might be worth as there was little on the market in the area. (I have looked and there isn't)
I have contacted other PM's to see what the market rent is and I have gotten anywhere from $250-$290p/w and $280-$300pw
Not sure if I should be that rude and ask for the PM to pay the extra $40pw+ (yes I am soft) or negotiate something else?
Any help (or a kick in the behind would be appreciated ha ha)
Obi