About a month ago I told my tenant I'd be increasing the rent by $30 per week to $260 per week which is fair market rent. PM said she is going to vacate. So as I was getting ready to re-advertise at $260 she comes back to my PM and says that she couldnt find anything else suitable for her price range and could she please stay on.
She now realises it is more expensive everywhere!
PM asked me if I'd consider leasing to her on a periodic basis until she found somewhere else to live. She says she is going to try to find something to share with her friend. So I thought about it and agreed to keep her on as she has been a good tenant. She just needs to give me 21 days notice if she wants to vacate and I need to give 60 days if I want my property vacant.
Hi Alex
Resi Landlords enjoying some good times now in Perth and lets take advantage of this.
As Rixter stated treat it as a "business".
All the best. MTR