Tenant leaving

[NBS]

Well now I figured all was travelling fine until agent rings me two days ago. PM advised me she received a call for a history check from another agent for a property the tenants are going to be renting.

Long story short PM contact tenant and tenant said to PM we don't have to give notice, we are moving on xx date, re educated by PM on what is required (read lease). So now have 2 weeks notice and have a inspection on the 21St.

I have told the PM to not release bond until inspection has been done as I KNOW there is a few little issues that need attending and will need to be taken out of the bond, if not fixed.

Spoke to agent about getting a tenant and agent said no problems will have it rented within a week of them moving out. PM advised they have NIL properties and plenty asking.

To be honest I'm more disappointed with the tenant for lying to my face last week than anything else, I don't care they are moving but why not be at least honest when I was there last week doing stuff at the place both maintenance and for them. Pity I fixed stuff they broke while I was doing my general maintenance run.

OH HUM life of a landlord I guess. NEXT.

Brian

 

[missgreeneyes]

I understand how you feel.....
However, I would concentrate on the practicalities.
Rent that place out as soon as you can, and take what you like out of your current tenants for what's owing.
If you end up renting the place with no more than a few weeks' loss of rent then..try to move on...

 

[NBS]

Thanks for the reply, I'm not concerned in fact from some of the stories I here on the forum I'm doing ok for a tenat leaving. PM has advised the tenant they need to be all paid up including utilities.

To date there is no outstanding rent only a small utilities bill (water usage) $98.00. I have a few bits of timber to remove, replace and paint because the dog they should not have had (inside) chewed the timberwork. Of course will not know what else there is until I get into the bedrooms hopefully just a normal clean.

Brian

 

[beachside]

This is why I like a lease in place so I know what date they will move out if a new lease is not signed, and at least 28 days prior to end of lease. I get agent to give them notice to leave 2 months prior - to be withdrawn if new lease signed. (QLD)

Current slack agent (till midnight tomorrow) did not do as I asked with end of lease coming up so I had to take it on myself to issue them with notice in case they did not sign the Intention to Leave form indicating they were leaving at end of lease. Luckily I did this because they advised me they were moving out but declined to sign the Intention to Leave form when my new agent asked them yesterday. Obviously they were going to let lease go periodic and just give me 14 days notice at their convenience when they found something suitable. Very inconvenient to me as I want to do a small maintenance job when they move out and agent obviously would like a firmer date of when available. There is a 9 day window between end of lease and my notice to them to leave is affective - they may still give me 14 days notice to leave at end of lease.

Who ever wrote the last tenant biased RTA rules needs a good kick up the ****.

 

[matto_]

all these stories of people either having to do the job of the PM (which they are paying) or educating the PM.

It seems to be a common theme. R there other PM's in the area that people could move to?

 

[natedog]

Well now I figured all was travelling fine until agent rings me two days ago. PM advised me she received a call for a history check from another agent for a property the tenants are going to be renting.

Long story short PM contact tenant and tenant said to PM we don't have to give notice, we are moving on xx date, re educated by PM on what is required (read lease). So now have 2 weeks notice and have a inspection on the 21St.

I have told the PM to not release bond until inspection has been done as I KNOW there is a few little issues that need attending and will need to be taken out of the bond, if not fixed.

Spoke to agent about getting a tenant and agent said no problems will have it rented within a week of them moving out. PM advised they have NIL properties and plenty asking.

To be honest I'm more disappointed with the tenant for lying to my face last week than anything else, I don't care they are moving but why not be at least honest when I was there last week doing stuff at the place both maintenance and for them. Pity I fixed stuff they broke while I was doing my general maintenance run.

OH HUM life of a landlord I guess. NEXT.

Brian

I used to get more personally and i guess emotionally involved with the actions of our tenants when we first started investing in IP's.

I went out of my way to try and make it "perfect" for the tenants, and believed what they told me.....

I learnt a very harsh lesson when a tenant we had in a property for 3 years, who always said the "right" things and paid rent on time up and did a runner 1 month before the lease expired, leaving the place like a bomb had gone off.

It was a big wake up call....holes in walls, animal poo inside...(they actually left a live goanna in a cage behind) the property required repainting, recarpeting, total clean and it had a double lock up garage half full of rubbish and rats.

Learnt the insurance companies definition of "malicious damage" was a little different to what we understood it to be....apparently the actions of children and pets are not covered...we have learnt that some insurers do cover this...but not the one we had.

We were awarded through VCAT damages...but it was impossible to track the tenant down.

We moved into the property after they left fixed it up to almost new.....and we were shocked how many other debt collectors came looking for them!!!

Obviously had a history of this sort of thing.

Whats my point....

Investing in property is a business...try and keep emotion out of it.

Although it was not pleasant at the time to go through the experience and cost of fixing the property up.... when i weigh up in hindsight what we gained in knowledge and of course the $$$ once we sold it...made it worthwhile.

Nothing seems to faze me anymore when i get calls emails from Property Managers...i figure we have had the big nightmare experience already

Just a small speedbump along the way to being financially independant!!

Nath

 

[NBS]

Thanks for the comments.

I'm not getting emotionally involved with the tenants. I simple have an issue with people, tenant or not mis representing the truth. I am questioning the PM however and I will be chatting about a few things just so we are on the same page.

The fact the tenants were just going to leave without notice I can almost see how this is going to pan out will get to the leave date no rent paid for the month. Tenant will figure bond will cover that, which it will, almost. Of course then I have a utility account outstanding and what ever unknown issues there are in the premise.

I will be in the place on the 21st doing an inspection with agent and will fix any issue while there. Will decide on the day if I need to get cleaners in.

Anyway not stressing at all just part of the business game, hopefully I feel the same after the 21st

Brian

 

[handyandy]

Thanks for the comments.

I'm not getting emotionally involved with the tenants. I simple have an issue with people, tenant or not mis representing the truth. I am questioning the PM however and I will be chatting about a few things just so we are on the same page.

The fact the tenants were just going to leave without notice I can almost see how this is going to pan out will get to the leave date no rent paid for the month. Tenant will figure bond will cover that, which it will, almost. Of course then I have a utility account outstanding and what ever unknown issues there are in the premise.

I will be in the place on the 21st doing an inspection with agent and will fix any issue while there. Will decide on the day if I need to get cleaners in.

Anyway not stressing at all just part of the business game, hopefully I feel the same after the 21st

Brian

As has been said previously - when a tenant is talking they are lying. (or words to that affect)

Bottom line is they are always trying to get the edge and very much their way. So problems are always way worse than the actual just to try and get action. They will pay next week when they have no intention to pay etc.

It's all part of the game.

We have a vacancy this month the tenant has been in the unit for just over 10 years. She is moving to something without stairs. I am really starting to think I should be in retirement accommodation so I can move them from one property to another.

Cheers

 

[Peter 14.7]

Hi All

As some use who in the last three IPS evicted 3 tenants and then had to renovate and rebuild after each tenant left and trashed I think this is not a bad outcome at all.

I STRONGLY RECOMMEND get the best insurance you can afford. FRom my investigations consider only EBM or TERRI SCHEER. We are now experts at getting our money back from the insurer but we have learnt the hard way. For legal reasons, I will not list the bad ones but any major will screw you.

FYI

1. Very few include cleaning and cleaning costs can run to $1000. Even when dog pees along wall they will not cover. Better to have paint on walls than pee!

2. Malicious damage is a joke in definition - I had a dog eat the blinds and they argued that is not malicious? I said well the dog was inside to stop agent inspecting so that intent.

3. Use of bond. The cheaper insurers will not let you use the bond to recover other costs but say it must be applied to rent thereby saving them 4 weeks and then they apply points 1 and 2 above.

4. Some make you use their repairer which means the process takes forever but your rent cover has a limit!

I am begging you, have the best insurance you can afford. I just repaired a place with $30k of damage. Yes, $30,000!!!! Thankfully I was insured but I had to threaten legal action and ACA to get the fair outcome.

Regards Peter 14.7