Unit in Same complex Asking $240 pw

[Belu]

FYI 2 months of no rent @ $220/week = $1,906.

So in the first 12 months you would get $9,533 instead of $11,440. Which is the equivilent of getting $183/week.

If you think it is going to take that long drop your price to $200/week and get someone in now. will mean less holding costs in the long run if no-one will pick it up at $220/week.

 

[Alex P Keaton]

FYI 2 months of no rent @ $220/week = $1,906.

So in the first 12 months you would get $9,533 instead of $11,440. Which is the equivilent of getting $183/week.

If you think it is going to take that long drop your price to $200/week and get someone in now. will mean less holding costs in the long run if no-one will pick it up at $220/week.

I will think about this.

I will advertise at $220. I should get someone in at this amount. But if there is still no interest 3 days after viewing i'll drop it to $210.

 

[Alex P Keaton]

hmmm i wander when my 1st mortgage payment will be. I settled on december 1st. from memory its 1 month later i think.

 

[Belu]

one of the benefits of being a landlord is that rent is in advance and interest in arreas.

 

[Alex P Keaton]

yeah thats handy

 

[Alex P Keaton]

yey that was quick, it has been re-advertised now

its the 1st one on the list (ive had 4 hits)

and its open for viewing on saturday between 12.30 and 1.30

 

[Alex P Keaton]

Only 1 person came. PM said she was very interested

However there was a loud argument going on in one of the units at the time of the home open. I hope it didnt put her off or turn away other likely visitors. Bad timing I guess.
It would have turned me off I reckon!

It will be open again the end of next week or on the weekend.

 

[Chomp]

Rang pm just now, no-one has applied. Only 1 new person has enquired about the property.

Like I thought to begin with ... I thought $240 per week was too high.

I am going to drop the amount but I'm wandering whether I should drop it to $230 or $220 like I originally planned.

Anyone have some advice?

They are not planning to view again until next week.

My parents sold me their unit in the same block, its not number 10. My dad is doing the PM and he just rented it out for $240.

I put new flooring in it but the kitchen and bathroom are original.

Tow the line!

Chomp

 

[Ausprop]

gees you guys are racing each other to drop your rent. Kim you should of let her keep batting away at $240!

 

[Alex P Keaton]

Yey, wooohooo my unit is leased. She is moving in after Christmas. Its a 12 month lease

 

[Tuppence]

Fantastic Kim - wishing you the best of tenants

 

[Alex P Keaton]

thanks

 

[Ridin-High]

Hi Kim, wondering if you put a fixed increase into that 12 month lease, something i learnt is that if you do a 12 monther, put a $15-20 increase in @ 6 months.

If you haven't don't worry. My mum's managing agent just put a tenant in one of her places on $320 pw for 12 months in sept. Market rent then is easy 360-70 pw. When that comes due, I'm putting money money on 400 pw.

 

[jaimeandrenee]

Hey kim how much rent did you secure in the End?

 

[Alex P Keaton]

Hi Kim, wondering if you put a fixed increase into that 12 month lease, something i learnt is that if you do a 12 monther, put a $15-20 increase in @ 6 months.

I'll talk with PM see what she says

 

[Alex P Keaton]

hey Kim How Much Rent Did You Secure In The End?

$220

.........

 

[jaimeandrenee]

Nice Kim gr8 stuff. congrats

 

[Alex P Keaton]

thanks




i just noticed my ad has now been removed from realestate.com

 

[forumite]

Yey, wooohooo my unit is leased. She is moving in after Christmas. Its a 12 month lease

Congrats, well done!

 

[Alex P Keaton]

omg what a dump # 10 is. I just went for a viewing!! lol no wonder they didnt show any photos online

...
In August # 10 was renting for $210 per week, then went up to $230. Now its advertised at $240.

Update:

# 10 is still vacant. Its been advertised at $210 per week for about the last 5 weeks.

This unit has been vacant now since November 15th.

I think they'll have to either drop their asking amount or do a bit of a reno.