Long term stalker first time poster.
First time buying in Brisbane and I'm trying to do all my homework, I have found a property and am planning on making an offer, its a decent place and a nice area but the current owners have a tenant on a periodic lease way below the market rate, about $100 below the median for the area.
They have been in the property over 4 years and the agent has given assurances they are good tenants which is why they haven't had much of an increase. Still asking for some rental history evidence and will make that part of the contract if I can.
I know to terminate a periodic lease we have to give 2mths notice, my questions are:
- Does the same time frame apply to advise of a rent increase?
- In Queensland, how difficult is it to get tenants to leave if they don't want to?
I have read some horror stories in the forum but have only ever had good tenants in my Sydney rental. We were thinking one option is asking for vacant possession but if they are good tenants we would like them to stay but at a more reasonable rate.
Any advice would be fantastic.
First time buying in Brisbane and I'm trying to do all my homework, I have found a property and am planning on making an offer, its a decent place and a nice area but the current owners have a tenant on a periodic lease way below the market rate, about $100 below the median for the area.
They have been in the property over 4 years and the agent has given assurances they are good tenants which is why they haven't had much of an increase. Still asking for some rental history evidence and will make that part of the contract if I can.
I know to terminate a periodic lease we have to give 2mths notice, my questions are:
- Does the same time frame apply to advise of a rent increase?
- In Queensland, how difficult is it to get tenants to leave if they don't want to?
I have read some horror stories in the forum but have only ever had good tenants in my Sydney rental. We were thinking one option is asking for vacant possession but if they are good tenants we would like them to stay but at a more reasonable rate.
Any advice would be fantastic.