Pro's and Con's of renting - I'd like to here from people who have rented.
- Thread starter INVSTOR
- Start date
Property managers never listen to a damn word you say.
hey! then it works both ways, RE!!!!
renting in Counrty QLD now!
I am currently renting an old flat for $155 a week.
it's cheap, but very close to where I am working, so can walk to work. Will save on petrol, and loose weigh
I hope!
I am currently renting an old flat for $155 a week.
it's cheap, but very close to where I am working, so can walk to work. Will save on petrol, and loose weigh
I hope!
Pro's
You can live in an area you couldn't afford to buy in
No property repairs (if you didn't create the damage)
Generally cheaper
meet new people (if renting a room out)
Con's
Landlords/agents can be painful
inspections
possibly no pets
not allowed to redecorate (without permission)
no say in things if the LL decide to sell
neighbours have someone to complain to.
You can live in an area you couldn't afford to buy in
No property repairs (if you didn't create the damage)
Generally cheaper
meet new people (if renting a room out)
Con's
Landlords/agents can be painful
inspections
possibly no pets
not allowed to redecorate (without permission)
no say in things if the LL decide to sell
neighbours have someone to complain to.
We have never owned a house, we live in woop woop, we have an incredible landlord whom we love very much, (as family), and I think he is rather fond of us.
We rent this beautiful old home for $20 a week, it's been filled with adults, teens, children, dogs and cats and horses, tortoises, galahs, we have no contract or anything signed with him, his and our word is accepted.
It will be an enormously sad day leaving here, there are memories we can never replace, let alone the wild sexual activites.
We have had the worlds biggest swimming pool, (house dam), our very own fruit and vegie garden, I've worked my butt off (and thoroughly enjoyed) the gardening/maintenance side of it, just the best time of our lives.
If you find a portion of our happiness in all this, you will do just fine.
We rent this beautiful old home for $20 a week, it's been filled with adults, teens, children, dogs and cats and horses, tortoises, galahs, we have no contract or anything signed with him, his and our word is accepted.
It will be an enormously sad day leaving here, there are memories we can never replace, let alone the wild sexual activites.
We have had the worlds biggest swimming pool, (house dam), our very own fruit and vegie garden, I've worked my butt off (and thoroughly enjoyed) the gardening/maintenance side of it, just the best time of our lives.
If you find a portion of our happiness in all this, you will do just fine.
Renting can be good!
Tell PM what you want - eg be specific need to rent for 1 year or 5 years etc.
Tell PM you will pay by direct debit - can pay 3 months in advance.
Inspections - specify dates in advance that suit you or if you are having a day off, ring PM and request inspection.
Move in - tidy up yard, throw a street BBQ to meet the new neighbours and enjoy life.
There is no reason why you can't take 'charge' of your situation.
Tip
Fix the minor things yourself and ring PM to let him/her know.
Don't have pets.
What you need to watch out for is moving into a rental that you cannot rent for longer than 6 months.
PS Our last tenants send us a 'Letter of Introduction' via PM.
Cheers
Sheryn
Tell PM what you want - eg be specific need to rent for 1 year or 5 years etc.
Tell PM you will pay by direct debit - can pay 3 months in advance.
Inspections - specify dates in advance that suit you or if you are having a day off, ring PM and request inspection.
Move in - tidy up yard, throw a street BBQ to meet the new neighbours and enjoy life.
There is no reason why you can't take 'charge' of your situation.
Tip
Fix the minor things yourself and ring PM to let him/her know.
Don't have pets.
What you need to watch out for is moving into a rental that you cannot rent for longer than 6 months.
PS Our last tenants send us a 'Letter of Introduction' via PM.
Cheers
Sheryn
We are Landords, but also currently renting. Have been renting since May, 2008. Will be until the new PPoR is built - about April next year. (yay!)
I can't see much of a pro for being a renter - unless you can't afford to buy. Our maintenance issues have been almost nil since we moved in.
Cons-
1. quarterly inspections. Not a prob for us as we treat the place the way we would like our tenants to treat our IP's, but they are always coming in for a squizz.
2. paying rent. My Scottish mind sees it as wasted money. I'd rather be paying the rent into a mortgage or business loan of some sort.
here's a tip though; think of your place (you are renting) as your own IP and how you would like your tenants to treat it.
its been decades since i rented but unfortunately we had a few experiences in renting and
i hated renting
mainly because of
the huge amount of money wasted on rent never leading to anything of security.
not being able to save to buy if wasting so much on rent
not being able to improve thigns how you want it or if you do you cant take it with you .
owners, oh they vary, and it can be soooo stressful
i was raising kids they prefered not to rent to people with kids.
some owners were inexperienced and caused us hell, didnt give us our peace, gave stressful instructions, eg not to do anything without contacting them even in an emergency and then they werent easily contactable and some water pipe had burst and one room the wooden floor warped a bit but they had told us clearly never ever to do anything without first consulting them.
they wouldnt fix the broken side fence and my young kids could sneak through there to the street which was very stressful.
they can tell you to move out for their own personal reasons no matter what good tenants u are eg their son divorced and they want to give him the house to live in while they sort themselves out so your whole family needs to be uprooted with little notice
unfair rent rises
one had some furniture in the house and it was ambiguous of what would happen to it and in the end we had our own but they wouldnt store theirs and it was stressful.
and moving oh moving is so stressful looking deciding and moving with a family is huge.
we did have one really lovely landlord and we rented 2 places that felt very happy i think because they had alot of sunlight in them and that made such a difference to how we felt.
we had one very ' interesting' negative neighbour who would climb a ladder and snoop at what we were doing.
we learnt alot when we rented differnt places and we made a huge list of what we wanted in a house and we would check them off when we went around to houses for sale. we got everything we wanted in the current home, though its not flash but had all we wanted, windows that opened and closed easily, water pressure that was good, lounge off a dining room, brick, a few bedrooms, kitchen with enough space.
in other words in hosues we rented we had bad water pressure, windows that didnt open easily, small kitchens, not brick and it would be boiling on a hot day really early in the morning,
good luck to you.
i hated renting
mainly because of
the huge amount of money wasted on rent never leading to anything of security.
not being able to save to buy if wasting so much on rent
not being able to improve thigns how you want it or if you do you cant take it with you .
owners, oh they vary, and it can be soooo stressful
i was raising kids they prefered not to rent to people with kids.
some owners were inexperienced and caused us hell, didnt give us our peace, gave stressful instructions, eg not to do anything without contacting them even in an emergency and then they werent easily contactable and some water pipe had burst and one room the wooden floor warped a bit but they had told us clearly never ever to do anything without first consulting them.
they wouldnt fix the broken side fence and my young kids could sneak through there to the street which was very stressful.
they can tell you to move out for their own personal reasons no matter what good tenants u are eg their son divorced and they want to give him the house to live in while they sort themselves out so your whole family needs to be uprooted with little notice
unfair rent rises
one had some furniture in the house and it was ambiguous of what would happen to it and in the end we had our own but they wouldnt store theirs and it was stressful.
and moving oh moving is so stressful looking deciding and moving with a family is huge.
we did have one really lovely landlord and we rented 2 places that felt very happy i think because they had alot of sunlight in them and that made such a difference to how we felt.
we had one very ' interesting' negative neighbour who would climb a ladder and snoop at what we were doing.
we learnt alot when we rented differnt places and we made a huge list of what we wanted in a house and we would check them off when we went around to houses for sale. we got everything we wanted in the current home, though its not flash but had all we wanted, windows that opened and closed easily, water pressure that was good, lounge off a dining room, brick, a few bedrooms, kitchen with enough space.
in other words in hosues we rented we had bad water pressure, windows that didnt open easily, small kitchens, not brick and it would be boiling on a hot day really early in the morning,
good luck to you.
We spent all of our raising-kids-years as owners, and we are currently renters.
Our intention was to buy another property at the end of last year. But things have changed in our lives, including the property market (another story - irrelevant here)
Pros for both of us:
We really like not spending weekends fixing stuff.
We really like having absolutely no debt at all.
We really like the amount of income we are earning through other investments.
We really like living in a nice place by the water that we wouldn't be able to afford ourselves.
Cons - just for me:
I miss gardening so much it aches.
I have beautiful things that belong on walls, not in boxes.
I just like staying put and developing ties in the community like we had for decades when our family was young.
Cons for both of us:
The insecurity of not knowing if the owner is just going to put the place on the market.
This last point will probably see us buy another property.
Summary: we'd probably rent until we drop dead if we knew that we could stay where we were.
Our intention was to buy another property at the end of last year. But things have changed in our lives, including the property market (another story - irrelevant here)
Pros for both of us:
We really like not spending weekends fixing stuff.
We really like having absolutely no debt at all.
We really like the amount of income we are earning through other investments.
We really like living in a nice place by the water that we wouldn't be able to afford ourselves.
Cons - just for me:
I miss gardening so much it aches.
I have beautiful things that belong on walls, not in boxes.
I just like staying put and developing ties in the community like we had for decades when our family was young.
Cons for both of us:
The insecurity of not knowing if the owner is just going to put the place on the market.
This last point will probably see us buy another property.
Summary: we'd probably rent until we drop dead if we knew that we could stay where we were.
Amadio - in regards to putting things on the walls I had the same problem when renting but what I found I could do (and cleared with the PM first) was put the 3M sticky hooks on the walls to hang things. After 4 years of the hooks on the walls we removed them carefully and there was no evidence of anything ever being there. At the end of the day I was happy as was the LL.
With my renting experience my husband and I rented the same unit for 4 years and only ever had 2 inspections. We only ever made one request of the LL and that was to professionally install our own window mounted air con, the LL said no BUT installed a split system air con instead. My only complaint was the LL's parents lived next doo and, well, that's another story all together. They were very, very strange people.
With my renting experience my husband and I rented the same unit for 4 years and only ever had 2 inspections. We only ever made one request of the LL and that was to professionally install our own window mounted air con, the LL said no BUT installed a split system air con instead. My only complaint was the LL's parents lived next doo and, well, that's another story all together. They were very, very strange people.
Get a good landlord and it can be great. Get a bad one and it sucks. I've had both. Never minded renting at all, while I had good LL's. They (and the REA) took care of maintainance, and we barely said boo to each other.
Then we moved into a new house(absolutely filthy when we moved in, despite being promised it would be cleaned prior - but we were desperate for accomodation) we got a LL who wouldn't do any maintenaince. At first it didn't worry us too much, if he wanted to let his house fall apart, that's his problem. But then the house got flooded by sewage twice. Blocked pipes. He would refuse to do anything unless we specifically forced his hand (pay's to know the tenancy rules). And even then it was kicking and screaming - He went through about 5 PM's in the time we lived there, because he didn't want to be told that he HAD certain responsibilities as a LL. He would try and come around unannounced to 'inspect' regularly - until he realised that we weren't going to let that happen. He would specifically wait until DH was at work because he thought he could bully and intimidate me into letting him in (obviously doesn't know me). He then tried to up the rent by $60p/w in one hit. Not bl00dy likely. He would walk past every day and spy on us (serious caught him peeking over the back fence once). Finaly got jack of it, and gave our notice. He then turned around and tried to give us notice for 2 weeks earlier then we had. Pfft. Not happening. Claimed the evict was based on friends family nedding accomodation (allowable eviction in ACT). Idiot, we let the new tenants in for a house inspection - they flat out said they had never met the guy, had just answered an ad he had put in the bulletin board at work. Either way, we weren't moving until we were ready, but I must admit to entertaining the idea of taking him to tribunal regardless - just to waste his time and money and get a ruling against him. When we moved out, he wanted to keep our bond. No reason - he just thought he was allowed to. When it was explained he wasn't he got narky. Then he went on complaining about the state of the place (maintainence he had refused to do) and claimed it was dirty (it was professionally cleaned). REA wouldn't sign off on it, claiming LL wouldn't let her so she wasn't able to (BULL, the final say wasn't his in this instance, but REA didn't want to rock the boat). Threatened to take to tribunnal - Was trying to book in for tribunnal (other things going on at the time too) and sent notice of intention: he then stopped going on about most of the crap, but claimed carpets hadn't been cleaned and he would drop it if we just paid the money for carpet cleaning. He wanted $300 for this (real price $60). We ended up conceding the $60 it would actually cost (despite already having done them) just because this was ages after and we needed the bond money for the house deposit and we were fed up with fighting. The new tenants had already been moved in one day after we vacated.
Seriously, this guy put me off ever renting again. I certainly would never rent without a PM. I actually knew the tenancy regs, but some people just do not comply with the guidlines unless hit over the head repeatedly, and even then they would bite off their nose to spite their face.
But Karma bit him in the bum. The new tenants moved out after three months (got jake of him as he decided to self manage because apparently none of the REA's in canberra do a good job) and the tenants (group of male teens) trashed the place. I have driven past a couple times since (still talk to the neighbour sometimes) and I smile when I see the bedroom windows all boarded up, and a house that looks about 40yrs older then it actually is - it is falling to bits.
Then we moved into a new house(absolutely filthy when we moved in, despite being promised it would be cleaned prior - but we were desperate for accomodation) we got a LL who wouldn't do any maintenaince. At first it didn't worry us too much, if he wanted to let his house fall apart, that's his problem. But then the house got flooded by sewage twice. Blocked pipes. He would refuse to do anything unless we specifically forced his hand (pay's to know the tenancy rules). And even then it was kicking and screaming - He went through about 5 PM's in the time we lived there, because he didn't want to be told that he HAD certain responsibilities as a LL. He would try and come around unannounced to 'inspect' regularly - until he realised that we weren't going to let that happen. He would specifically wait until DH was at work because he thought he could bully and intimidate me into letting him in (obviously doesn't know me). He then tried to up the rent by $60p/w in one hit. Not bl00dy likely. He would walk past every day and spy on us (serious caught him peeking over the back fence once). Finaly got jack of it, and gave our notice. He then turned around and tried to give us notice for 2 weeks earlier then we had. Pfft. Not happening. Claimed the evict was based on friends family nedding accomodation (allowable eviction in ACT). Idiot, we let the new tenants in for a house inspection - they flat out said they had never met the guy, had just answered an ad he had put in the bulletin board at work. Either way, we weren't moving until we were ready, but I must admit to entertaining the idea of taking him to tribunal regardless - just to waste his time and money and get a ruling against him. When we moved out, he wanted to keep our bond. No reason - he just thought he was allowed to. When it was explained he wasn't he got narky. Then he went on complaining about the state of the place (maintainence he had refused to do) and claimed it was dirty (it was professionally cleaned). REA wouldn't sign off on it, claiming LL wouldn't let her so she wasn't able to (BULL, the final say wasn't his in this instance, but REA didn't want to rock the boat). Threatened to take to tribunnal - Was trying to book in for tribunnal (other things going on at the time too) and sent notice of intention: he then stopped going on about most of the crap, but claimed carpets hadn't been cleaned and he would drop it if we just paid the money for carpet cleaning. He wanted $300 for this (real price $60). We ended up conceding the $60 it would actually cost (despite already having done them) just because this was ages after and we needed the bond money for the house deposit and we were fed up with fighting. The new tenants had already been moved in one day after we vacated.
Seriously, this guy put me off ever renting again. I certainly would never rent without a PM. I actually knew the tenancy regs, but some people just do not comply with the guidlines unless hit over the head repeatedly, and even then they would bite off their nose to spite their face.
But Karma bit him in the bum. The new tenants moved out after three months (got jake of him as he decided to self manage because apparently none of the REA's in canberra do a good job) and the tenants (group of male teens) trashed the place. I have driven past a couple times since (still talk to the neighbour sometimes) and I smile when I see the bedroom windows all boarded up, and a house that looks about 40yrs older then it actually is - it is falling to bits.
I was thinking this the other day, sell up ppor put the money in the bank and use the interest to pay the rent, down sides would be no capital gain would only work for a few years until rents increased past return or interest rates dropped to less then 5%. You could use the use money normally spent paying the mortgage to invest in other things though.
No maintenance, no rates, the dog might be dissapointed though but could spend my time whineing about greedy landlords
Not a very good plan but a plan none the less.
No maintenance, no rates, the dog might be dissapointed though but could spend my time whineing about greedy landlords
Not a very good plan but a plan none the less.
All i got from your post Obsession is that you have freaky sex escapades with various barn yard animals
An interesting perception.
I think the point of the matter is having rented, (so far) in our lives, (quite cheaply at that), and a definite perspective on our behalf of what an absolutely blessed life/existence we have had so far.
Fortunate to have relationships/friendships formed with local communities/people and my partner involved in a vocation that he passionately loves, in a lifestyle he is not, nor was, prepared to compromise on...
The fact that we have had such an incredible place of beauty and wide open spaces and at low financial cost to us has meant an ability to channel funds into investment properties. I like to buy houses.
My work, passions and involvements have taken me not only statewide, interstate and overseas, our home being used "as a base".
We are central to some of Australia's major cities and regional cities, we are central to some of Australia's oldest, most unique deserts, rainforests and mountain ranges. we are relatively close to our biggest river system, (Murray).
We get to have our personal privacy, (read: *LOTS of fun!!!!) yet relatively not bereft of essential services, health, emergency and education.
Because of the relationship b/w tenants, (us) and our landlord, we get basically free reign, and we do not abuse that, we have a love of nature and animals, we have over time opened our home to orphaned/injured animals of all sorts, used our home as a base for education for other people to learn/relate and train themselves up on how to train/care for animals.
The fact that we have never had our own PPOR is no comparison (only to us, our minds and perspective on our lives), to the sheer joy and passion for living here, even in it's worst weather events, it has an incredibly beautiful ugliness..
My point of a post in this thread is our contentment and happiness was not going to be as (owners) PPOR or urban/town dwellers, so renting for us was a very conscious decision, a right decision for us for a period in our lives.
It's also possibly entangled in our decision to be investors, opportunity + committments + choice =chance to take advantage of this.
Home (for us), is indeed where the heart is, and we do this for $20 p/w...renting for us has been a gift, anyway you look at it. (For us).
* No animal creature was involved in any of 'our' intimacy fun..
I actually did a double take on your quote thingamabob that goes with your posts:
Serial killer of clergy, family and friends?
Then after a little thought, think I got the gist of it. But, would enjoy what you feel it means to you, when you get a minute?
I'm interested.
(Relfy, we actually got the beautiful old place for nothing for first few years.
)
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