So, by semi-popular (or not) demand, I will give yers all a quick longwinded account of my last project - Renovating our 2x1 Unit over in Kalgoorlie...
A brief history;
*Bought in 2001 for $105k plus costs - 100% borrowed with equity and separate IO loan.
*Renting for $240 p/w then, already tenanted. Nice.
*Built in 1991. Depreciation. Nice.
*Complex of 4 units.
Fast forward to Oct 2011...
* Long term tenant moves out.
* PM does condition report and says it needs repairing. I knew this, but not the extent.
*There is a leak in shower through to front bedroom and several cornices have come adrift/gaps (earthquake result apparently.)
*Front bedroom ceiling has evidence of water leaks - stains in plaster. Possible leak from roof (tiled roof).
So, I asked the PM to get a quote for the repairs - $16k was the report.
I say can't afford it, can we rent it as is with reduced rent? She says yes - see how it goes.
We get an application from this lady, based on reduced rent and no promise to repair items during the lease of 12 months. No worries.
3 days before she moves in, she demands all damage is to be repaired. We say get lost, and keep her letting fees and ad costs out of bond.
She complains to Shire, and they issue a "Not fit to live in" type order until repairs are completed....
Fast forward to June this year...
Unit has been vacant since Oct 2011.
I decide to drive over and do the necessary repairs myself, and hopefully save about half the cost. I inform the Shire and PM I'm on my way, and set off with the ute loaded up with all my tools etc, and plan to try and knock it over in about 2 weeks....3 weeks away all up.
The PM met me there when I arrived around midday and admitted she had only made a few brief inspections from front door to make sure the place was secure...
Inside was much the same, but outside in the courtyard the whole area was completely overgrown and plants growing up onto the roof.
First job for the trip...clear backyard out and set up tools etc in back yard, set up camp bed and do a shop for food. etc. End of first day.
Gotta do some work. Will report in later with some photos.
A brief history;
*Bought in 2001 for $105k plus costs - 100% borrowed with equity and separate IO loan.
*Renting for $240 p/w then, already tenanted. Nice.
*Built in 1991. Depreciation. Nice.
*Complex of 4 units.
Fast forward to Oct 2011...
* Long term tenant moves out.
* PM does condition report and says it needs repairing. I knew this, but not the extent.
*There is a leak in shower through to front bedroom and several cornices have come adrift/gaps (earthquake result apparently.)
*Front bedroom ceiling has evidence of water leaks - stains in plaster. Possible leak from roof (tiled roof).
So, I asked the PM to get a quote for the repairs - $16k was the report.
I say can't afford it, can we rent it as is with reduced rent? She says yes - see how it goes.
We get an application from this lady, based on reduced rent and no promise to repair items during the lease of 12 months. No worries.
3 days before she moves in, she demands all damage is to be repaired. We say get lost, and keep her letting fees and ad costs out of bond.
She complains to Shire, and they issue a "Not fit to live in" type order until repairs are completed....
Fast forward to June this year...
Unit has been vacant since Oct 2011.
I decide to drive over and do the necessary repairs myself, and hopefully save about half the cost. I inform the Shire and PM I'm on my way, and set off with the ute loaded up with all my tools etc, and plan to try and knock it over in about 2 weeks....3 weeks away all up.
The PM met me there when I arrived around midday and admitted she had only made a few brief inspections from front door to make sure the place was secure...
Inside was much the same, but outside in the courtyard the whole area was completely overgrown and plants growing up onto the roof.
First job for the trip...clear backyard out and set up tools etc in back yard, set up camp bed and do a shop for food. etc. End of first day.
Gotta do some work. Will report in later with some photos.
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