Renters depressed, anxious
- Thread starter alexlee
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wish-ga,
the stress of renting and being evicted actually forced me to buy a house. i never wanted to go through that again. there are many shocking tenants out there, but there are some great ones too.
unfortunately all renters are tainted with the same brush. i was paying close to $500 p/w on rent and still considered "scum" by many, especially those who have moved out to the delfin estates
the stress of renting and being evicted actually forced me to buy a house. i never wanted to go through that again. there are many shocking tenants out there, but there are some great ones too.
unfortunately all renters are tainted with the same brush. i was paying close to $500 p/w on rent and still considered "scum" by many, especially those who have moved out to the delfin estates
haha what a joke, some ppl just dont have a clue, if it was really leaking 2lt a day and didnt call to get it fixed, it couldnt have been to much of a concern till the owner wanted to up rent lol.... i think that ppl these days take way to much stuff to heart and need to take responsibility for themselfs....
Hmmm, did it mention what percentage were tenants depressed because the rents had gone up and they could no longer afford the o/s holiday, their once brand new car was getting old, and their designer clothes were getting dated?
I am yet to have the brand new car, the o/s holiday and the designer clothes. I must be really depressed but then again I am just a nasty landlord.
Exactly Brenda;
we are in an apartment complex in the "trailer trash" end of town at the moment. The agency my wife works for pays the rent and you have to go where they send you. We could pay some cash out of our own pocket and move to a better spot, but it's only for a year, so we thought we'd tough it and use the money towards some debt reduction. Sorry, I digress slightly.
So anyway, the average tenant here is either retired and broke, or very young couples with/without young kids. No professional types here. I keep looking around for the talent scouts from Jerry Springer.
Every day I walk past brand new Hondas, Jeep 4 x 4's, Ford F250 pick-up trucks etc; even BMW's and Lexus, on the way to the dumpster to throw out rubbish, and the dumpster is FULL of boxes from every doodad under the sun; plasmas, foot massagers, xbox, furniture, remote control toys, etc, not to mention endless piles of magazines at $5 a pop.
The apartment I walk past to get there has a tv inside which is nearly bigger than my car.
So, you know; it's hard to pay the rent.
This reminds me of a recent visit to a 1 BR unit all up just over 50sqm, dude rents it and lives there with wife and child(under 2). The tenant had the biggest damn plasma I have ever seen (well nearly
). In fact I don't think you could move back far enough to actually watch it in comfort and no doubt he was overloading the circuit of not just the unit but the whole blockChheers
This reminds me of a recent visit to a 1 BR unit all up just over 50sqm, dude rents it and lives there with wife and child(under 2). The tenant had the biggest damn plasma I have ever seen (well nearly
Chheers
What was his car like?
I must confess that I can sympathise with the person in the article. It use to infuriate me when the rent was increased and it was increased every six months. I felt like I was not in control of my own life. I understood that this was pointless and unproductive but I felt it nevertheless.
However, as soon as the steam had blown away, I would then become rational again and simply tell myself that it's only business and I would not act any differently if I was the landlord's position. It the end, it is as simple as that and there is no point whinging to the press about it.
However, as soon as the steam had blown away, I would then become rational again and simply tell myself that it's only business and I would not act any differently if I was the landlord's position. It the end, it is as simple as that and there is no point whinging to the press about it.
exactly... renters can always go buy if they think they can get a better deal. far from likely
Rising interest rates are our friends..and not in the way you might think
Embrace the interest rises, for they are our friend........
Interest rates have always been a very ineffectual tool for curbing inflation. Think of the inflation spurt in the 80's and then deliberate running of the ecomony into recession that broke inflation. When it was realised that the
economy was heading for a dramatic slowdown, even the continued reduction in interest rates had no effect in providing a soft landing...
Their lag before they make any substantative impact will be at least 12-18 months away. We are still a number of interest rate rises away from them having any significant bite. In the meantime, a strong economy (and immigration), with rising interest rates (and yes higher inflation) will only provide to add to demand and costs of providing rentals. The continuation of prices and rents escalations will accelerated by these combined factors.
Maybe renters may feel justified in being anxious....
Embrace the interest rises, for they are our friend........
Interest rates have always been a very ineffectual tool for curbing inflation. Think of the inflation spurt in the 80's and then deliberate running of the ecomony into recession that broke inflation. When it was realised that the
economy was heading for a dramatic slowdown, even the continued reduction in interest rates had no effect in providing a soft landing...
Their lag before they make any substantative impact will be at least 12-18 months away. We are still a number of interest rate rises away from them having any significant bite. In the meantime, a strong economy (and immigration), with rising interest rates (and yes higher inflation) will only provide to add to demand and costs of providing rentals. The continuation of prices and rents escalations will accelerated by these combined factors.
Maybe renters may feel justified in being anxious....
I try to take good care of my tenants. Without them, I wouldn't have the opportunity to build wealth through property investment. They help make the monthly repayments and for that, I'm grateful.
They get a Christmas bonus each year, if they have paid their rent on time and look after the property. To me, it's about building a relationship.
Works for me. Out of four properties (which I self manage), I get market rate rental for all of them, never had a rent default and never any problems with tenants damaging the property.
Good tenant selection is the key.
One of mine has been with me for 7 years and shows no signs of moving out.
I figure I must be doing something right
They get a Christmas bonus each year, if they have paid their rent on time and look after the property. To me, it's about building a relationship.
Works for me. Out of four properties (which I self manage), I get market rate rental for all of them, never had a rent default and never any problems with tenants damaging the property.
Good tenant selection is the key.
One of mine has been with me for 7 years and shows no signs of moving out.
I figure I must be doing something right
I try to take good care of my tenants. Without them, I wouldn't have the opportunity to build wealth through property investment. They help make the monthly repayments and for that, I'm grateful.
They get a Christmas bonus each year, if they have paid their rent on time and look after the property. To me, it's about building a relationship.
Works for me. Out of four properties (which I self manage), I get market rate rental for all of them, never had a rent default and never any problems with tenants damaging the property.
Good tenant selection is the key.
One of mine has been with me for 7 years and shows no signs of moving out.
I figure I must be doing something right
Must be different if you self manage, I guess. It's great that the tenant stays for a long time, of course, but to be honest I haven't had many issues (maybe a few times over the last couple of years, with a couple of IPs) with rental defaults and damage, and my tenants change every 6-12 months.
For me, I get PMs to manage it, since they're all interstate. I've never met any of the tenants (except when I do an inspection). I don't feel grateful if they pay on time, since that's on the contract. Nor do I feel the tenants should be grateful if I fix stuff (PM just told me the dishwasher broke down in one of the IPs and that will have be replaced). That's on the contract too.
It's business. I try not to make it personal. Actually, I'm happiest if I don't hear anything from the PM, and the money just goes into my account.
Alex
Good post ROB; totally agree with that mindset.
And I'm with you to agree Alex, I love never hearing from the PM's.
The tenants should pay on time, and we should fix up the joint as well, but, as a business owner with staff for over 20 years once, and having to deal with humans on a daily basis on both sides of the counter, I can promise you that goodwill goes a very long way, and it's free usually. You get the most from your staff by looking after them more than they look after you unfortunately, but the alternative is never good.
I have found that in general if you look after your staff, and your clients, you reap the rewards. So, I treat the PM's like staff, and the tenants as clients.
For example; we send out tenants all our free tip and hard waste vouchers, and one of our properties comes with a Bay-side parking permit so the tenant gets that as well.
I also fix any repairs immediately, even though some of them I know are tenant caused (the PM's never admit it of course - they wouldn't know either as I'm sure they never go to inspect the damage, but who can prove it?).
I also send periodical emails to the PM's thanking them for their hard work (or lack of). They are usually very appreciative, and who knows how much my wheels get greased as a result, so it can't hurt.
And I'm with you to agree Alex, I love never hearing from the PM's.
The tenants should pay on time, and we should fix up the joint as well, but, as a business owner with staff for over 20 years once, and having to deal with humans on a daily basis on both sides of the counter, I can promise you that goodwill goes a very long way, and it's free usually. You get the most from your staff by looking after them more than they look after you unfortunately, but the alternative is never good.
I have found that in general if you look after your staff, and your clients, you reap the rewards. So, I treat the PM's like staff, and the tenants as clients.
For example; we send out tenants all our free tip and hard waste vouchers, and one of our properties comes with a Bay-side parking permit so the tenant gets that as well.
I also fix any repairs immediately, even though some of them I know are tenant caused (the PM's never admit it of course - they wouldn't know either as I'm sure they never go to inspect the damage, but who can prove it?).
I also send periodical emails to the PM's thanking them for their hard work (or lack of). They are usually very appreciative, and who knows how much my wheels get greased as a result, so it can't hurt.
I am happiest when I don't hear from my PM's. Means everything is moving along nicely.
Embrace the interest rises, for they are our friend........
Interest rates have always been a very ineffectual tool for curbing inflation.
Well, there certainly a friend for me. Partially because I like to pay my bills months in advance and partially because I to have cash savings and remain 'in the black'. I certainly feel for those who aren't in the same situation as I, however...
cash savings? so the higher inflation, the higher interest rates, the more you get taxed on your cash returns and the further basckwards you go.
imagine rates at 20% and a tax rate of 50%, if inflation is > 10% and unless you are in the unlikely position of having interest earnings to cover all your outgoings you are definitely heading backwards. time for a good ol' strike to throw some fuel on the fire!
imagine rates at 20% and a tax rate of 50%, if inflation is > 10% and unless you are in the unlikely position of having interest earnings to cover all your outgoings you are definitely heading backwards. time for a good ol' strike to throw some fuel on the fire!
maybe we should all sell our properties and they can live in state housing? lets see how they go with a repair issue through a government body....
i love the whole "landlords are evil" smear campaign. they make us out to be dodgy brooklyn gamblers that own an apartment block full of rats and cockroaches, drunks in the stairwells and the obligatory stained white singlet and dappa hat.
i love it. i laugh every time i get a complaint with attitude. i'll always fix it to minimise further damage but then the tenants get a 6 week vacate notice.
take that! pow!
i love the whole "landlords are evil" smear campaign. they make us out to be dodgy brooklyn gamblers that own an apartment block full of rats and cockroaches, drunks in the stairwells and the obligatory stained white singlet and dappa hat.
i love it. i laugh every time i get a complaint with attitude. i'll always fix it to minimise further damage but then the tenants get a 6 week vacate notice.
take that! pow!
Actually I think people considering landlords evil is a good thing. It prevents the sanctimonious (or those who just care what other people think of them) from buying IPs. And the fewer investors, the better for us, because the demand (for rent and to buy, alternating depending on the phase of the cycle) isn't going anywhere but up.
Alex
Alex
rents are still ludicrously low, so obviously a lot of people like being landlords to continue to conduct such uneconomic activity. I shake my head when I hear of rental crisis - the only rental crisis is that to be a landlord you lose money hand over fist on the hope that your underlyign asset value may go up even faster. For tenants, anything less than double of what they are paying is a bargain.
