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Ditch tenant
Tidy up
Re-let for more money
If they do end up moving, than I can probably spend $20k to renovate, and increase rent by $30/week (need to check market rates but I think that's feasible)
I'd like to preserve cash flow in the near term.
I would have liked to get the income secure from day one and keep any additional cash outflow minimal.
Good responses. This is actually a development block so I would have liked to get the income secure from day one and keep any additional cash outflow minimal.
If I hadn't asked about the 12 month contract hey would have definitely kept quiet about the long list. I wonder how long they have actually been able to live with it all.
Apparently they have had plumbers come out in the past but they didn't fix anything permanently.
My question is - At what point does the tenant have to fix their own repairs? If a light bulb is broken, should they be calling up the PM? They showed me the shower fan/lights - out of the 4 lights only 2 were still there. It was already very bright with just two so adding the missing two will just increase their electricity bills so i'm not sure what they are thinking. Regarding the kitchen cabinet door - the hinge fell off so I'm pretty certain it's one of the kids that messed it up. .
For any PM's out there - how highly would they rate as a potential tenant candidate, given that they have 3 young kids, one income earner etc. is it easy for their situation to move?
Given the property is in a rather rough but livable condition. How does one prove any incremental damage a tenant does from now going forward?
Will the new PM take a static 'snapshot' of the condition the property is in?
Cheers