Whats the highest % of income you accepted ?

Discussion in 'Property Management' started by Alex P Keaton, 14th Jun, 2015.

  1. Alex P Keaton

    Alex P Keaton Member

    Joined:
    16th Mar, 2008
    Messages:
    3,121
    Location:
    Australia
    Good news! I have another application.

    21 year old on $75,000 pa. Was a student & has been working for 6 months. Was living with his parents before. Good character and work references.

    Because of Perths rental market I ended up having to drop it some more. I did say in the ad happy to negotiate. So from where I started at $300 9 weeks ago, I bought it down to $270 & now he's negotiated $250 for 12 months. He says if I don't come down to $250 then he doesn't mind living with his parents a little while longer till he finds something. Looks like the circle has turned & the tenants are calling the shots now hey.

    Anyway I'll be happy once we lock him in. $1000 per month will cover my mortgage & some expenses. Mortgage is aroud $750 per month. Anyhow with the way the market is ive realised as long as I get an amount that will cover my mortgage and some of the expenses then I'll be happy.

    It's amazing how Perths market has turned. Just a few years ago I was getting $340 pw, then for the past year and a half $300 pw. Now $250 a week. Oh well this is what happens. I'm glad I've saved hard during the good times ;)

    I'm also glad that my ppor mortgage is pretty affordable paying around $800 per month.

    Fingers crossed PM signs him up soon :)
     
  2. Alex P Keaton

    Alex P Keaton Member

    Joined:
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    Location:
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    Woooohoooo, he's locked in. Signed up for 12 months :). Huge relief to have secured someone. Phew! :D
     
  3. Rhinsor

    Rhinsor I'm Batman

    Joined:
    3rd Nov, 2012
    Messages:
    313
    Location:
    Perth
    I originally advertised my property for $450, I put it down to $400 after no serious interest in 3 weeks.

    I've now got a few people applying which is great.

    The first people to apply got great feedback from their PM, so it looks like it might be them. No issues with income to rent ratio.
     
  4. Alex P Keaton

    Alex P Keaton Member

    Joined:
    16th Mar, 2008
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    3,121
    Location:
    Australia
    That's cool! :).