Hi all just recently bought first IP with girlfriend in Whyalla SA. When we looked at the place originally to buy the tennants were in the house (young couple with baby) and they were very friendly with the real estate agent who told us how good tenants they were.
Fast forward to now and it appears there is starting to be a bit of a squeeze on whyallas rental market. The rate they are paying of 265 a week for a home in the good end of town is appearing to be very much on the low side. So yesterday I get an email from the PM ( who happens to be around the same age as the tennants) saying the tennants are thinking about buying a house towards the end of the year and would like a periodic lease with the following details:
Tennants only have to give 21 days notice if moving out
Landlord has to give tennants 60 days notice before eviction
Rent stays at 265 a week
What I found really strange is that the currentH 6 month lease doesn't end until July 20. Why is the property manager trying to get me to agree to a new lease 70 days before the current one ends?
Do the days notice seem fair to me? My view is that she is looking after her friend and trying to lock in a low rate for them before rents get squeezed higher.
Im going to sit on it for a while wait and see what happens.
Is this standard practice or is something up? New to this so opinions would be much appreciated.
Cheers
Fast forward to now and it appears there is starting to be a bit of a squeeze on whyallas rental market. The rate they are paying of 265 a week for a home in the good end of town is appearing to be very much on the low side. So yesterday I get an email from the PM ( who happens to be around the same age as the tennants) saying the tennants are thinking about buying a house towards the end of the year and would like a periodic lease with the following details:
Tennants only have to give 21 days notice if moving out
Landlord has to give tennants 60 days notice before eviction
Rent stays at 265 a week
What I found really strange is that the currentH 6 month lease doesn't end until July 20. Why is the property manager trying to get me to agree to a new lease 70 days before the current one ends?
Do the days notice seem fair to me? My view is that she is looking after her friend and trying to lock in a low rate for them before rents get squeezed higher.
Im going to sit on it for a while wait and see what happens.
Is this standard practice or is something up? New to this so opinions would be much appreciated.
Cheers