I have rejected 2 applicants so far !

BMan said:
also with your spare furniture put them in the local paper to sell you wont have to move them then
how big is the tv? might get $50
at my garage sale a few months back sold a few things
sold a few 68cm tvs for $50, also sold 1 of those massive 60" flat screen rear projections for $435 i though it was only worth about 300 depends what others want to pay
i sold 2 queen beds with mattress for $100-$150 each they were snapped up in minutes
Click to expand...

Agree with selling instead of storage, although I think it's optimistic to think you'd get $50 for a box when they're free off the kerb or Gumtree (probably obsolete in 1 or 2 years anyway) :D.

As for the mattress, I'd be getting a new one, and if Kim is happy to use hers after various tenants, then she'd be OK with buying a good used one, from a clean household (you can obviously see where one has come from when you buy) cheap, if she sells the one she has now.
 
You don't have to find the "best" tenant looking at the moment, you just have to find a "good" tenant, and you've already found two. I believe you are over thinking this.

I reckon that the two you have rejected should be reconsidered tomorrow, especially as you really are limiting your choices by offering a furnished place. There just aren't as many people wanting "furnished" so you should take the first "good" tenant.

Waiting for a "perfect" tenant is like waiting for the "perfect" husband... maybe take the best on offer or you'll be waiting a looooong time :D
 
Alex P Keaton said:
Lots of different advice. I guess I'll just have a chat with pm tomorrow and see what she thinks. I keep changing my mind dont I
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You need to have a think of what 'you' are comfortable with. I decided late last year that we could be in for tough economic times ahead. I'm more comfortable right now accepting tenancy with 2-3 incomes per household rather than 1. After just getting rid of a tenant with unemployed girlfriend moving in, I wouldn't want to risk going down that route again, but obiously others would be comfortable with that. (and one bad experience with a backpacker existing tenant when I bought a property doesn't do much for me either) I'm still struggling with expenses from tenants leaving last year and all the PM fees taken out of rent for the past months so a one year lease would definately suit me better.
 
Alex P Keaton said:
A man from London. I rejected him because he is currently unemployed and has no references (only overseas references) He does have a character reference from his mum though. He also has $30 K in the bank. I did think about the option of a 6 month lease and he pay the whole amount upfront but its too risky as I dont have references plus also cant check him on any databases.
!
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Sometimes it better to take the first cab off the rank,i would not take all this that serious,every day is one less dollar in your pocket..
 
Out of curiosity, what are your fees to Property Managers when getting new tenants? Advertising, letting fees, tenant checks?
 
Alex P Keaton said:
So.... what do I tell the pm to tell the young couple? Shall I get her to say the landlord is contemplating renting to you however she is currently considering other applicants?
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I've been wondering for a while why this guy called Alex wants to weigh less than 60kgs. It all makes sense now.
 
Wooohooo. I could have a company lease lined up!! I'm hoping they'll apply tomorrow!!!!! Yey!!!!! New employee from overseas & the company want a 6 month lease!! Cool hey. Oh & pm has dealt with company before & have had no problems!
 
Hi,

Important to work with whatever applicants you can get. If, as you mentioned, you can well afford to hold onto the property without rent coming in, go ahead and take your time.

Although from my experience, a rental sitting out in the market for too long also suffers from the same reaction as a 'for sale' property being in the market for too long; they go stale. Potential renters start thinking there is something wrong with the property or the landlord or both.

Everyday you do not have a tenant in place is more money out of your pocket then necessary.

We just signed a tenant for our 2nd IP after taking if off the market for almost 2 months to fix it up (unfortunately this happened during the X'mas period as there was a 3 weeks period where no work was being done).

This tenant (a family with kids) was recommended by our PM as reliable; they simply wanted to move to a quiet part of the suburb as their current location was along a main street.

They were also the only ones to apply as vacancy rates in many part of Melbourne have gone up to close to 3% (reportedly a balanced rental market), so we could not afford to be too chosey with our tenants.

Regards,

Daniel
 
daniellee said:
Hi,

Important to work with whatever applicants you can get. If, as you mentioned, you can well afford to hold onto the property without rent coming in, go ahead and take your time.

Although from my experience, a rental sitting out in the market for too long also suffers from the same reaction as a 'for sale' property being in the market for too long; they go stale. Potential renters start thinking there is something wrong with the property or the landlord or both.
Click to expand...


Yes I dont want it to get stale and sit on market too long as people will think there is something wrong with it.

I'll be making a decision tomorrow after tonights viewing!
 
I've accepted the companies application! They want a 12 month lease!!! Wooohooo. I'm so happy! PM is getting back to them now to let them know they have been successful! :)
 
That's fantastic - well done.

Can I ask, what rent are you charging for it fully furnish (short to medium term) compared to what you think it would attract if unfurnished like an ordinary tenancy?
 
Lease is signed!! :) I'm stoked!!

The employee has a 4 year working contract for this company, so you never know if things work out there might be a chance of a lease renewal at the end of the 12 months!

IP is just a 20 minute walk away from his workplace. Nice and close.

edited to say:

I ended up leaving some crockery and kitchen utensils, linen also as they are only bringing clothes with them. I dont mind doing this. It saves me from finding room to store it plus if it makes the tenant happy then thats great, they might want to stay on longer.
 
Last edited:
weg said:
That's fantastic - well done.

Can I ask, what rent are you charging for it fully furnish (short to medium term) compared to what you think it would attract if unfurnished like an ordinary tenancy?
Click to expand...

Thanks! :)

I'll be getting $320 per week furnished. Thats pretty much the going rate for furnished studio/1 bed around the highgate inner city areas atm. I know a bloke who owns a couple of units in my complex and he is getting just $270 per week so Perth rentals have really increased a lot in the past 6 - 12 months! He cant wait till his leases expire so he can up the rent.

The PM's I have spoken to say that you get about an extra $20 or $30 for furnished per week.
 
Alex P Keaton said:
Thanks! :)

I'll be getting $320 per week furnished. Thats pretty much the going rate for furnished studio/1 bed around the highgate inner city areas atm. I know a bloke who owns a couple of units in my complex and he is getting just $270 per week so Perth rentals have really increased a lot in the past 6 - 12 months! He cant wait till his leases expire so he can up the rent.

The PM's I have spoken to say that you get about an extra $20 or $30 for furnished per week.
Click to expand...

Sounds good to me Kim well done
 
It's always great maximizing return through trying something different. Good on you.

The reason I asked about return is because a friend, who lives about 3k from the Adelaide CBD recently turned her very nice granny flat, into short term furnished (and serviced) accomodation, and her rent increased significantly - by $120 pw.

The difference there however, is she lives on site, and it's easy enough to do.

Actually she's just turned 2 city townhouses into the same. She's still working on her website and they're about 50% booked, 3 month ahead :eek:.
 
Well done APK ... and even better for ignoring us cynics who are been thru both good and tough times ;) and hence encouraged you to take first offer!

Sleep easy - you deserve it!
 
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