Hi all,
I just read the thread by goswa regarding rent by room. That was exactly the plan I had with the fist IP I have just bought in Bathurst. The only agent in the area that does this was crap at customer service so I went elsewhere and they dont do it that way coz there are too many grey areas with regard to inspections and who is responsible for the common areas. It is considered a boarding house - utilities have to be paid by landlord and if there are matters that get to tribunal it will most likely be tossed out. My insurance however, is not affected by this setup. Agents are cautious but it can be done privately.
As the new agent wont rent by room its on as one lease but as it is a HUGE house and I have fully furnished it for uni students the agent keeps saying its a unique property - what I am now saying is unique and difficult! It is so big (6 beds from its original 4) and a beautiful well kept property. The agents have it on at $660/wk which is $110 per room - reasonable considering all they need is their clothes and blankets - nothing else!
I am trusting them but I am concerned that no one in their right mind will take on a lease for that amount especially first years whose parents will be very protective of their childrens financial state of affairs. I have discussed with the agent about reducing the rent but they still want a week to wait for students to start going there. The address is...so check it out...
http://www.realestate.com.au/realestate/agent/peter+rogers+bathurst+real+estate+bathurst/pgibat/rental+properties/page3/403071714
Let me know what you think. Photos of the new rooms (I did minor renovations downstairs to change from large rumpus to 2 new bedrooms and 3rd living area) are not on the ad.
Any advice greatly appreciated. I have budgeted for 2 months mortgage as it was vacant over xmas coz no uni but one has been and gone, the other on 1st Feb and still no tenants! HELP
Im a first timer and I am soon to go bald!
I just read the thread by goswa regarding rent by room. That was exactly the plan I had with the fist IP I have just bought in Bathurst. The only agent in the area that does this was crap at customer service so I went elsewhere and they dont do it that way coz there are too many grey areas with regard to inspections and who is responsible for the common areas. It is considered a boarding house - utilities have to be paid by landlord and if there are matters that get to tribunal it will most likely be tossed out. My insurance however, is not affected by this setup. Agents are cautious but it can be done privately.
As the new agent wont rent by room its on as one lease but as it is a HUGE house and I have fully furnished it for uni students the agent keeps saying its a unique property - what I am now saying is unique and difficult! It is so big (6 beds from its original 4) and a beautiful well kept property. The agents have it on at $660/wk which is $110 per room - reasonable considering all they need is their clothes and blankets - nothing else!
I am trusting them but I am concerned that no one in their right mind will take on a lease for that amount especially first years whose parents will be very protective of their childrens financial state of affairs. I have discussed with the agent about reducing the rent but they still want a week to wait for students to start going there. The address is...so check it out...
http://www.realestate.com.au/realestate/agent/peter+rogers+bathurst+real+estate+bathurst/pgibat/rental+properties/page3/403071714
Let me know what you think. Photos of the new rooms (I did minor renovations downstairs to change from large rumpus to 2 new bedrooms and 3rd living area) are not on the ad.
Any advice greatly appreciated. I have budgeted for 2 months mortgage as it was vacant over xmas coz no uni but one has been and gone, the other on 1st Feb and still no tenants! HELP
Im a first timer and I am soon to go bald!
