So I just noticed I haven't raised the rents on an IP for a while. Got in touch with the PM and basically said:
In August last year the rent was raised from $275 pw to $285 pw.
Is there any scope for a $5 pw to $10 pw rent increase? Could you please review and let me know.
By the way, are the tenants on a 12 month lease at the moment? Please remind me of the lease expiry dates.
I received a reply saying:
Yes there fixed term has ended which means there in a continuous period in which all the rules and laws from the original lease still apply but they are not bound by a contract in terms of having to pay a fee when they give notice to move out they only have to give us 21 days written notice in order to vacate.
Kind Regards, <PM>
So here's the thing. Are they a bit slack by not letting me know the fixed term was up? My other PMs always tell me beforehand and do a rent review. Wonder what I'm paying these guys for, if they don't even tell me the fixed term is up nor do a rent review. If I hadn't been thinking "hmmm been a while since I raised the rent on this place" I wouldn't have noticed it...
Anyone have a good PM in Mt Druitt they can recommend?
In August last year the rent was raised from $275 pw to $285 pw.
Is there any scope for a $5 pw to $10 pw rent increase? Could you please review and let me know.
By the way, are the tenants on a 12 month lease at the moment? Please remind me of the lease expiry dates.
I received a reply saying:
Yes there fixed term has ended which means there in a continuous period in which all the rules and laws from the original lease still apply but they are not bound by a contract in terms of having to pay a fee when they give notice to move out they only have to give us 21 days written notice in order to vacate.
Kind Regards, <PM>
So here's the thing. Are they a bit slack by not letting me know the fixed term was up? My other PMs always tell me beforehand and do a rent review. Wonder what I'm paying these guys for, if they don't even tell me the fixed term is up nor do a rent review. If I hadn't been thinking "hmmm been a while since I raised the rent on this place" I wouldn't have noticed it...
Anyone have a good PM in Mt Druitt they can recommend?