Which PM lease room by room in Sydney North?

[Olive]

Hi,

Does anyone know of a PM who is willing to take up leasing room by room?

The property is in Sydney upper north shore. We are thinking of converting a 3 bed townhouse into a 5 bed by adding in a couple of walls in the living area.

Spoke to 3 different agents already non of them are interested not even with a higher commission... They seem to like the 3 bed 4 bed house leasing to one family, less disputes they said.

Should we be going neighboring suburb for the PM?

Thanks everyone.

 

[balwoges]

Is the townhouse part of a strata plan, have you thought about permissions from body corporate and council ?

 

[Olive]

we're looking into the by-laws at the moment but could not see any mentioning. The room by room plan would give us a 9-10% yield. If it is leased out as an 3 bed only around 5%...

 

[Scott No Mates]

Building any walls will require council consent & body corporate to sign the DA. You may also need to provide additional parking spaces, 2nd living area, additional bathroom, linked hard wired smoke detectors &/or thermals, fire extinguishers/fire blankets etc for fire safety and compliance.

 

[Salvatore1]

As an agent I would not taken on a room by room lease as the issues that will arise by who is responsible for common areas (kitchen, lounge, bathrooms, gardens, utility charges etc).

 

[see_change]

I would be suprised if any agent on the UNS would be interested . The extra work wouldn't justify the return . Effectively you're running a boarding house and you may find that with pout the appropriate licences it's illegal .

The strata committee will also be very unimpressed and take action against you .

Cliff