I had the same thought as that smart girl, wylie.
I don't think there's any reason why you couldn't end the existing lease by mutual agreement, and get them to enter a new lease at a higher rent. 
Tenant requesting an Air Conditioner...
- Thread starter KoopaTroopa
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I don't think there's any reason why you couldn't end the existing lease by mutual agreement, and get them to enter a new lease at a higher rent. But you can't, within the existing fixed lease framework, can you?
Or, like wylie and I, are you suggesting ending the existing lease and signing a new one at higher rent?
Have had the property around 5 years. No doubt a few unusually hot days and the tenants are starting to feel they should have chosen a place with air conditioning!
Last tenant turnaround was unexpected and quick. Didn't get organised to put in air-con, and as always, it always seems to be one more expense that I don't want.
I think the option of a mutually agreeable end of lease and an increase of $15 - 20 per week now may work though feel a bit uncomfortable with the idea of hitting them up bang on Christmas - even though they are requesting this expense from me.
If they sign a new lease from around 1st February, that gives you five weeks to get it organised and installed. It will possibly take nearly that long with Christmas shut downs and having to book an installer.
Get the new lease signed at the time of ripping the old one up (check that this is okay to do this - mutually cancelling the lease) then they are locked in.
That also gives them five weeks after Christmas expenses to start afresh. If the new lease is signed you can get it installed sooner, if you can organise it.
It is really up to them. If they don't want to pay extra, they may leave at the end of the lease. You may lose some rent replacing them, so you have to do the merry dance with them which might involve a bit of give and take and both make the decision.
We have a tenant who will leave soon and has said his brother would like to take the house. We would have asked for ask $10 more than he is paying but if his brother takes it on, we not pay a releasing fee, which would wipe out the $10 increase for the first year of the new lease, so sometimes it is better to take less but gain more.
I had the same thought as that smart girl, wylie.
I decided to make the following offer to the tenants through the PM
- If they'd like to have the air-conditioner installed now then we can cancel the existing lease by mutual agreement and write up a new lease with an increase of $20 per week. If not, then I will have an air-conditioner installed by the end of the lease and any new lease offer will reflect the improved amenity of the property -
RTA informs me it is fine if both agree in writing to cancelling the lease.
Haven't heard back from the PM, but feel satisfied that this is a fair offer. If they don't take it up and decide to go at the end of the lease, even with the increase, I believe they'll find it hard to find a comparable property any cheaper.
Great advice all around. I'll post further when I know the outcome.
Like some other posters, I find the request somewhat surprising. It reminds me of kids at Christmas asking for the best and most expensive present in the shop...... and then getting it!
Of course, if they are willing to contribute to its cost then I view the request differently.
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I'm in Melbourne and I'd say air conditioning isn't necessary in the south of Australia. I have it in my car, and use it maybe 3 times a year, if that. I don't have it in my apartment and have never felt it ever needed it. We do get the occassional really hot day, but I think they are rare. Then again, any day under 30 degrees I consider cold, so maybe it's just me.
You obviously prefer a warm room temperature. I'm sure you could find people who consider heating unnecessary in Melbourne, too, but that doesn't make those people who do want it "wrong".
I think this is a non issue.
As a tennant I bought my own portable air con unit for $800 dollars and I take it wherever I go. In this day and age of cheap portable personal choice white goods a tennant can buy whatever comfort toys they like.
They chose to rent your place without air con for the price.
If I want air con I look for places that have air con, dishwasher, central heating, reomote contol garrage - as that's a different bracket of property
In the end as an investor - what market segment are you catering to???
If you install this toy and other new toy requests from tenants for you to agonise over, you have now set a precedent for yoruself (but you did it before....) will you have made it out of the league of your target market and mucked up your makret segmentation you are selling into? ie not an exec level property but has air con, dishwasher etc and is too expesnive for your tennants bracket??
Personally I wouldn't agonise. I'd just get comfortable with saying NO ;-)
Otherwise you can continue to hair split for pages more on this. Tell em to get.....and buy a portable. End of story ;-)
As a tennant I bought my own portable air con unit for $800 dollars and I take it wherever I go. In this day and age of cheap portable personal choice white goods a tennant can buy whatever comfort toys they like.
They chose to rent your place without air con for the price.
If I want air con I look for places that have air con, dishwasher, central heating, reomote contol garrage - as that's a different bracket of property
In the end as an investor - what market segment are you catering to???
If you install this toy and other new toy requests from tenants for you to agonise over, you have now set a precedent for yoruself (but you did it before....) will you have made it out of the league of your target market and mucked up your makret segmentation you are selling into? ie not an exec level property but has air con, dishwasher etc and is too expesnive for your tennants bracket??
Personally I wouldn't agonise. I'd just get comfortable with saying NO ;-)
Otherwise you can continue to hair split for pages more on this. Tell em to get.....and buy a portable. End of story ;-)
Haha! I could have guessed that!
Most are happy for the Landlord to put their hand in their pockets in order for them to get a better lifestyle, but when they also have to spend money it is funny how quick they decide the upgrade really isn't worth it.
I think it's normal human behaviour
As al nadlord, if my insuirance company offered me something extra I would take it, but if they approached me and aske dme if I wante dt poay extra I woudl be scpetical
Lanldord are custoemrs of other people too (I claseedefine tenants for ease of use as "customers" of the landlord)
Why do epeple do that ? Cuaes like other invetsoers here, I am not 10000% thrilled at the service levels and percfvormacne of all products I buy, I knwo that things are negoitable, so I will ask if someone can do a bit better for me from time to time
Nothing to really laugh at as if it's unique and we're exempt from ever behavnig that way, it's human nature and even we are human
