...been there 14 years and is paying $170 a week.Market rent would be $270 minimum. Over $300 with a reno.
That's a lot of money to be losing each year.
Owner was about 30 (guestimate). I would have loved to ask why he was selling. It sold for $221,000.
Yeah I have similar stories to tell. I'm guessing one alternative may be that the investor in your case was tired of neg gearing for all those years, when in reality he could have been pos geared with the correct market rental.
I think sometimes ppl do themselves a disservice by lowering the rent for a good tenant. Now this poor tenant (if there is such a person) has to face the harsh reality that they need to find an extra $100 pw just to find similar accom.
