problems, hassles & info for being a landlord?

[Lump]

thinking of buying a house to rent out & i've never rented or been a landlord before.

where is a good place to find info on this? (tried reiwa but lots of dead links)

what acts/laws do i need to learn about?

how hard is it to manage the property myself?

chances are the place is going to be old & crappy so i will be prepared for the maintenance side of things.
any advice appreciated as this whole issue is a bit scary :eek:

[vbroom]

I'm about to try managing my property soon. My contract with my property manager is about up so thought i'd give it a crack this time.

Have a read through this document. This about covers most of what you need to know.

http://www.commerce.wa.gov.au/consumerprotection/PDF/Publications/Renting_out_your_property.pdf

And most forms and agreements can be found here.

http://www.commerce.wa.gov.au/consumerprotection/content/Property_renting/Renting_and_tenancy/Landlords/Landlords_pack.html

[Simon]

From first hand experiences, I wouldn't reccomend managing the property yourself.

It can be a huge amount of work.

Your first step should be to speak with a reputable local property manager (ray white etc) in the area you wish to invest in.
They will have a tonne of info for you.

[Lump]

thanks vbroom, awesome info!

[Poktrokt]

Agree with Simon on this one!
Specially as its your first time, you would be silly to do it yourself!

That would be like someone doing your job after reading a few articles! These people charge you an average 14% of the total gross income (including tenant data base searches, larger tenant pool, photos, inspections etc)
For what that costs you, it's worth setting and forgetting it!!

Don't be a hero trying to save some coin, will cost you more in the long run!!!

Consider it down the track!

[Lump]

thank guys, will take that on board, as yeah it seems a bit daunting..
btw will be close by in Como somewhere so i can keep an eye on things, whiuch might help.

[fourseven]

I'm going to disagree with the others and say jump in there. You will never learn if you pay someone else to do it and it's certainly not rocket science! I've done it, and the only piece of advice I will give you is don't be afraid to use the courts to your benefit. Read, learn, and get a thorough understanding of the Residential Tenancies Act 1987 as it's everything you need to know about the law and tenants. http://www.austlii.edu.au/au/legis/wa/consol_act/rta1987207/

A few suggestions:

1. Don't EVER, EVER, EVER rent to friends or family.
2. Show the tenants it's worthwhile looking after your property by looking after them. Take care of your responsibilities as a landlord (maintenance and repairs) in a timely manner.
3. Rent not paid? Submit the paperwork without delay. No excuses, no second chances. Tenants still non-compliant, take it to court immediately.
4. Be strict but realistic with inspections. That small brown patch of lawn is normal in summer. A cup and plate on the sink? It's not the end of the world.
5. Be confident in that the law is very clear and if you do the right thing, document EVERYTHING, and give it the effort it requires, you can save yourself cash and learn a thing or 2 along the way.

Lastly, make sure you have a decent accountant (Dylan Fucking Cameron for instance http://antilag.com/forums/showthread.php?56371-D-C-amp-Associates-Taxation-and-Accounting) so you are aware of the positives and negatives of investing and renting out property etc.

[Lump]

this is why i love this place, awesome info.
thanks all

[racegtst]

Agree, do not try to do it yourself.

Also get some landlords insurance as you can still run into problems.

[j3rk]

Both options have their merits. If you work in Perth, don't mind answering a few phone calls and keep the house in good repair between tenants... Do it yourself. It's really easy as above and if you pick good tenants there is no issues!

I pay people to look after my place and most of the time they do nothing but cost me $200 a month.

Remember they are just normal people wanting to live with no issues, treat them fair, don't be a tool and they'll probably always pay on time and never be a problem! And worst case they break something and when they move out you fix it with their bond... Simple!

[Brett_J]

A family member throws a $100 Bunnings gift voucher at his tenants every 6-12 months as a thank you, 9 times out of ten they spend it on the house anyway :)

Rhett's right about the inspections, My estate agent used to always say to me, "I'm here to make sure the house is in order, not to see your housekeeping skills" As long as it was neat, then who cares if there was dishes or laundry to do.

[doriae86]

Thanks Rhett - Tax should definitely be a consideration. Get some advice on structuring and managing the acquisition in the most tax effective manner.

I'd be more than happy to have a no obligation curb side chat if you're interested

[Lump]

Both options have their merits. If you work in Perth, don't mind answering a few phone calls and keep the house in good repair between tenants... Do it yourself. It's really easy as above and if you pick good tenants there is no issues!

yeah thats the way I'm looking at it.
the kind of house i want will be pretty crappy, something thats rentable with some land is all I'm interested in. (if i can afford it)
cheers

[S85FI]

I agree with fourseven,

I manage my own after coming back from an overseas trip - to find someone in my rental and no money coming in.... the last time I use an agent I say. I came home a month early to the agents surprise.

Again be smart about it.... be real and you won't have trouble. Sniff out the bullshit asap.

The two legislative instruments you and the Tennant need to comply with are Residential Tenancies Regulations 1989 and Residential Tenancies Act 1987.

The regulation will have a sample of all the prescribed forms - you will find your agent just copies this. You can also down load copies of the rental agreement

REIWA and REBA (the board that manages it all) are toothless tigers and any issues you have with a agent can not be dealt with by REIWA or REBA as they have no powers to do anything. It's all voluntary from the agent.... if they chose to.

Use www.slp.wa.gov.au to get accurate and up to date legislation (Sorry fourseven) . Go to "click here for WA legislative data bases" click on acts in force, "r" for residential and away you go. Do the same for subsidiary legislation and you will find the regulations there.

I also say to the Tennant, provide a police clearance, a months worth of pay, letter from employer and you pretty much have better intel than any rental data base. If a potential Tennant says nope, you have no right... their pretty much right... but you don't have to rent it out either.... and that's one less person you don't have to worry about not coming through with the goods.

An agent will pretty much ring you to do anything anyway... so I reckon cut out the middle guy. If there is good Tennant, the agent twill spend less than 10 minutes on site.... and slug you some good $$$

Most agents will avoid court and try to convince you to just let it go or give them another chance as it means work for them. Remember why are you paying them? and in most cases they will want to charge you to go to court. The forms are very simple and the local court will help you out with it.

Either way, good luck with it.

[TurboHead]

Land lord insurance is a must, read the department of fair trading website section about rentals.... It's written towards the tenants point of view but gives you good tips on what not to do and shit they might pull.

But remember, the quality of the house can reflect the quality of the tenants. If the place is a hovel you won't be attracting OCD clean freaks.... More likely meth addicts.

[S85FI]

One more thing, if you are going to rent it out.. take out the clause that lets you sell the place with the lease to be broken on sale.... otherwise if you do chose to sell it, and a potential buyer wants the place but then chose not to buy it because there is still 6 months on the lease....

You never know if you need to sell it... I always have that in my rental agreement removed... sec 63.cl4 from memory.... if they don't want to agree.... I don't sign up.

I've had the same tennats now for several years, and not a problem. Never again would I use an agent. My thoughts on the subject anyway.
Again good luck....

[Lump]

thanks ZZM5 awesome replies, thanks for the excellent info!



But remember, the quality of the house can reflect the quality of the tenants. If the place is a hovel you won't be attracting OCD clean freaks.... More likely meth addicts.
yeah thats possible, but if i follow the advice given here i should be ok.

im more interested in the land than the house long term anyway, but yeah good advice all the same.

[baz]

Totally agree with Fourseven, chances are if you keep a close eye on things your property will be better managed by yourself than a property manager. I have heard/seen a lot more bad things about property managed rentals than private.
I have self managed mine for the past thirteen years. Sure had the occaisional issue but that was when I became a bit slack- so my own fault really.
People seem to think a managed property will have no problems-bullshit. If that was the case ,why then do most property managers suggest you have landlords insurance??? They just take 10% of YOUR money in return for very little service. I personally do not have landlords insurance but maybe a good idea for you at least at first. Terri Scheer -1800 804 016- I have heard very good things about. Or I belive CGU does a good job/policy also.
Plus lets face it a property manager HAS to play by the rules , sometimes a visit and a "stern" chat can make all the difference.
Also any damage you can make the tennants fix/pay for AND then claim it back on tax!
You also have more say in who rents it, EG personally I would never rent to coons-property managers can't be seen to discriminate.
Just make sure you get really good references/ID (scan of passport and drivers licence), pay slips /where they work etc. Screen the prospective tennats really well. Read all you can about your obligations and rights as well as the tennants.
Also importantly always go with your "gut feeling " about people if somthing does not seem right it probably isn't.
So give it a go I say.

[Joe]

As a side job, I look after a portfolio of 15 houses.. its piss easy, but can be a pain in the arse at times.

The best thing to do is learn this inside out:
http://www.austlii.edu.au/au/legis/wa/consol_act/ctsaa1985406/

Then read every scrap of info on this page:
http://www.commerce.wa.gov.au/consumerprotection/content/Property_renting/index.htm

Also get yourself some good management software... you can keep track of payments, bonds, critical dates, inspections, etc. RentHQ is great, its cloud based and cheap to use. www.renthq.net

Just to build on fourseven's points (which I believe are very good)..

Don't EVER, EVER, EVER rent to friends or family.. VERY VERY VERY CRITICAL. Also don't rent to employees if you have your own business. This has caused me much heartache with this particular portfolio.

Keep the property in good order. If something breaks and its not the tenants responsibility (and they haven't caused it to break), fix it quickly! Your tenant is more likely to keep on time with their rent payments if you look after them.

Rent not paid? Contact the tenant first. A good tenant might be in a bad situation (an illness or something similar), the bank transfer might have stuffed up, etc. Don't burn a good tenant. Give ONE chance and one chance only though. If the tenant is a constant bad payer, then go the whole hog and submit the paperwork without delay. No excuses, no second chances. Tenants still non-compliant, take it to court immediately.

Be strict but realistic with inspections. You are there to look at HOUSE condition, not how tidy the tenant keeps their bedroom, etc. BUT a rule of thumb is, if a tenants house is tidy, they'll generally look after it. If they keep it like a pig sty, you're more likely to have things in the house that aren't right (marks on the walls, etc).

Document EVERYTHING!!!!!!!!! Photocopies, electronic copies, emails, etc. Keep the lot. Keep it in a dropbox as well as on your PC as a back up.

If they're a good tenant, don't slam them for rent when review time comes around... check the market rentals in the area, and be realistic with this. You're better off foregoing the extra $10 per week to keep a good tenant in the property, rather than having to re-lease.

If you can afford it, USE AN AGENT TO LEASE THE PROPERTY OUT. It might cost you 2-3 weeks rent, but if you've never done it before, you could get yourself an extremely bad tenant.

Don't judge a book by its cover.. judge them by the references, and make sure you CALL THE REFERENCES and ask all the critical questions.. do they pay on time, do they keep the place in order, do they have pets that they haven't disclosed to you, why did they move out of the house, etc. I've had tenants who were professionals with their own businesses, who did a lot of damage to the house (inherited tenants, not ones that I've put in). I've also got an aborigine in one of the houses I look after, that I put in. Honestly the best tenant I've ever had, works in mining and earns a great wage. His wife is a bank manager, and all his children go to school or have jobs. The house is 12 months old and looks as clean as the day it was built, and he pays his rent on time every fortnight.

[Damo 69]

awesome thread as i am considering giving my agent the boot this year as my agreement with them is up in the next 4 months -

how do you guys go about advertising?

[Joe]

how do you guys go about advertising?

www.rent.com.au, or use an agent if you're worried about doing the leasing side of it. I recommend hitting up 3-4 local agents and getting quotes, some charge 4 weeks rental as a leasing fee, some charge 3 and you'll even get it as low as 2 weeks rent. It sounds expensive, but they do all the legwork, home opens, etc, then they sign the tenant up and hand all the paperwork over to you.

[Joe]

One more thing, if you are going to rent it out.. take out the clause that lets you sell the place with the lease to be broken on sale.... otherwise if you do chose to sell it, and a potential buyer wants the place but then chose not to buy it because there is still 6 months on the lease....

You never know if you need to sell it... I always have that in my rental agreement removed... sec 63.cl4 from memory.... if they don't want to agree.... I don't sign up.

This is illegal.

The act allows for agreements that bypass the Act i.e. certain parts of the act can be contracted out should the tenant and landlord agree to it. These clauses are clearly marked with an asterisk (if you purchase a hard copy of the Act from the SLP you'll see this)

BUT, Clause 18 of the RTA which covers the ending of a tenancy, and specifically, ending of the tenancy on sale of premises (30 days notice if the tenant is not on a fixed agreement), cannot be contracted out..

It really isn't a deal breaker 99% of the time. Normally if you tell a tenant that you're going to sell the property and there is a chance that the new owner will want to live in it, that tenant is going to start searching for a new premise straight away... they don't want to be left homeless.

When they do find a place, they'll usually ask if they can break the Lease early, because their new landlord isn't going to hold the place for them vacant until the end of their old tenancy, and the tenant sure as hell isn't going to pay for 2 rents. It generally works out very well in my experience.

[Damo 69]

what i am trying to get rid of is paying the 4 weeks rent to the agent at the moment, got fucked hard last week.

[JME]

Take heed of what Fourseven/Balistc have put forward. Do not be afraid of the risk of doing it yourself. Risk in itself is a precurser to wealth generation. Always easier to handball and pay someone in the short term but not advantageous.

But, be 100% up to date on what regulates the industry and ensure you DOCUMENT EVERYTHING.

Good luck, you are getting in the market at the right time.

[j3rk]

Another good point if you do choose to rent it out yourself; along the lines of document everything:
- Take as many photos as you can and hand the tenants an inspection form to note down any imperfections pre-moving in.

Have had experience where bond has been challenged with a family member and gone to court.
If you have photos and inspection reports for each room, there can be no arguments.

[Lump]

ok,
quick question.
if current tennants are paying $410, is there a max % limit i could increase it by? (they havent had an increase in years)
cheers!

[Joe]

There isn't really, but you might lose your tenants.

[Lump]

cool, thanks Joe.

[mod]

I'm living in my parents old double story 4x2 home.. I sleep down stair in master and I rent the 3 rooms upstairs to short term leases for $250 per week or $300 to couples.

Advertise on Gumtree :P just try pick the non dodgy ones, azn 457 visa workers are best imo from my experience.. the worst are your mates or family friend(NEVER EVER RENT A PLACE TO THEM)
Surprisingly people do pay that amount for just a room about 20sqm + shared kitchen, pool etc... mostly European tourist working here and your usual FIFO workers and Asian/Indian 457 visa workers(they're the best & always pay on time)

Only down side is they don't pay the bills, I still do that but they pay for the mortgage :)
as the "landlord" sharing the house I haven't needed to kick people out yet that yet since starting 1 year ago but generally people keep to themselves

trying to find another house near curtin and do the same, rent out the to them rich azn students

[Lump]

^nice work


. the worst are your mates or family friend(NEVER EVER RENT A PLACE TO THEM)
Ive got no mates so im covered there lol

i put an offer in on a 1960's 3x1 house on 450sqm block 500m from canning bridge station in como today, i would be very surprised if it gets accepted but i will find out tomorrow.
cheers

[duste]

There isn't really, but you might lose your tenants.

QFT.

We told our current landlord that we're gone if they increase it one more time (they increased it each 6 month contract renewal before our previous). Even at a $10 increase per week, they could earn an $520 per year, but for every week they don't have a tenant in the property (ie. if we left) they would lose nearly $450 a week. You have to ask yourself as a landlord...is it worth the risk?

For our landlord, it's clearly not; we've been very good tenants, and should we leave they would not only lose rental income for a week or two at least, but also potentially end up with destructive drop-kicks as their next tenants.

[Lump]

yeah, im not out to screw anyone, less hassels for me is worth $$ anyway.

[mrniceguy]

Rent to foreign students. Ive rented the rooms in my house (where i live) for close to 15years and foreign students are the best. They come to this country purely to study, they rarely party,and they budget every cent carefully. Some Asians are even happy to go 2 to a room. My gf is from Taiwan and at the place she lives there are 13 living in a 4x2! And they dont mind at all, plus are paying $120 a week each!

The worst possible tenants are young Australian males who are also your mates. Dont do it.

[cplagz]

thinking of buying a house to rent out & i've never rented or been a landlord before.

where is a good place to find info on this? (tried reiwa but lots of dead links)

what acts/laws do i need to learn about?

how hard is it to manage the property myself?

chances are the place is going to be old & crappy so i will be prepared for the maintenance side of things.
any advice appreciated as this whole issue is a bit scary :eek:

Residential Tenancies Act if you have a properly REIWA rental agreement

[Baron]

Some Asians are even happy to go 2 to a room. My gf is from Taiwan and at the place she lives there are 13 living in a 4x2! And they dont mind at all, plus are paying $120 a week each!

Fucking disgusting abuse by the landlord. If the tenants want to live that many to a house that is one thing, but if the landlord is actually charging $1560pw for a 4 bedroom house then they're scum.

[-Luke-]

An earth moving contracting company I used to work for employed a bunch of Philipinos workers, the senior management all purchased rentals int he Bentley/Carlyle and rented them to the Philo's. Rent was deducted from their pay before it was paid into their accounts. Some houses had 4 crews of guys all working 3/1 rosters. Paying for rent 4wks a month stay there 1wk a month.

Criminal IMHO

[Lump]

Ok, im kinda shitting myself now. Offer got accepted!

[Turbo2.6L]

Lol why Baron? If the demand is there, i'd capatilise for sure.
It's not like he's holding a gun to their head & saying "live here or fuck off back to your own country". There's plenty of accommodation around if you're only after shared living, this place in question obviously has some real appeal to it.

[j3rk]

We told our current landlord that we're gone if they increase it one more time (they increased it each 6 month contract renewal before our previous). Even at a $10 increase per week, they could earn an $520 per year, but for every week they don't have a tenant in the property (ie. if we left) they would lose nearly $450 a week. You have to ask yourself as a landlord...is it worth the risk?


Yep, smart landlords just give warning of increases... wait for response and decide based on that.
I now make $60 a week more because of such things, the rental market is currently massively under-supplied.

Supply and demand ftw.

[mod]

Fucking disgusting abuse by the landlord. If the tenants want to live that many to a house that is one thing, but if the landlord is actually charging $1560pw for a 4 bedroom house then they're scum.

This is right up my alley lol but I'm not going to throw 13 ppl in my house fark that maybe 2pax per room.
I can also turn my study room/office into another room and charge less as its smaller lulz

As said above post if the demand it there I'd take advantage for sure, I have a Belgium couple travelling Aus wanting to stay for 1 week next month I charged them $350 and they agreed on it.
Turning into a fcking hotel...
All this shared room/rental thing is is legal yeah? I see all other Asian landlord doing the same to houses around curtin so must be lol.

[huggy_b]

QFT.

We told our current landlord that we're gone if they increase it one more time (they increased it each 6 month contract renewal before our previous). Even at a $10 increase per week, they could earn an $520 per year, but for every week they don't have a tenant in the property (ie. if we left) they would lose nearly $450 a week. You have to ask yourself as a landlord...is it worth the risk?

But equally, do you want to pack up your shit and find a new place for the sake of $10/week (which in the current market is very conservative). It's a tough market to find a rental.....

[duste]

Granted, but considering the last occupants of this house were drug dealers and the landlord went through hell after the house was raided, I'm 100% sure they wouldn't want to risk it in this situation. :p

[S85FI]

This is illegal.

The act allows for agreements that bypass the Act i.e. certain parts of the act can be contracted out should the tenant and landlord agree to it. These clauses are clearly marked with an asterisk (if you purchase a hard copy of the Act from the SLP you'll see this)

BUT, Clause 18 of the RTA which covers the ending of a tenancy, and specifically, ending of the tenancy on sale of premises (30 days notice if the tenant is not on a fixed agreement), cannot be contracted out..

It really isn't a deal breaker 99% of the time. Normally if you tell a tenant that you're going to sell the property and there is a chance that the new owner will want to live in it, that tenant is going to start searching for a new premise straight away... they don't want to be left homeless.

When they do find a place, they'll usually ask if they can break the Lease early, because their new landlord isn't going to hold the place for them vacant until the end of their old tenancy, and the tenant sure as hell isn't going to pay for 2 rents. It generally works out very well in my experience.

I'm not a lawyer, but I've had heaps of problems when an "Agent" looks after my properties, since I have been doing it my self (For a few years now) I haven't had a problem. Tennant s that have signed up with my proposed conditions - have been bliss and no problems.

Section 18 talks about making application to a court... that's my reading of it.

Section 63. Notice of termination by owner who has entered into
contract of sale
(1) An owner may give notice of termination of an agreement to the
tenant on the ground that he has entered into a contract for sale
of the premises to which the agreement relates and under that
contract he is required to give vacant possession of the
premises.
(2) Where an owner gives notice of termination under
subsection (1) the period of notice shall be not less than 30 days.
(3) An owner or agent of an owner shall not give notice of
termination under this section that falsely states the ground of
the notice.
Penalty: $2 000.
(4) This section does not apply to an agreement that creates a
tenancy for a fixed term during the currency of that term.

A mate had a house rented to State Government, went to sell, had 8 months of lease to go, tenant (being government) Would not move out, and he had to wait until the lease expired until someone would buy the house as being a residential pad.... new home buyers wanted to move into it.

My experience with it....

I guess that what lawyers are for...

[Lump]

ive been reading the act, but I'm not sure on this, whose responsibility is it to clean the filters in the split system aircons?

i dont mind doing it, but from my reading of the act it might be the tenants?
cheers

[Lmx]

I bought a place which had 2 amazing tenants in it previously, they were only paying $350 as it was a family friend that owned the house, obviously for the area, a 3x1 was charging closer to $500 per week, i ended up offering them to stay on a month by month lease @ $420 per week, they rejected it, i gave them notice and then they asked to stay. Even if you get less per week for it by doing it yourself, you still save between $30-50 on fees (so i took that into account). It was really easy to be honest, only issue i had whilst being a land lord was the lock on the door had started to shift and their door kept opening. (a quick thread on AL can fix most things, next morning Siladee came out and fixed it) :P
Give it a crack yourself, get landlords insurance as in the end, it is cheaper then house and contents insurance if you were living in it.

/CSB

[Lump]

yeah im doing it myself, its on a periodical lease btw.

i had the structural check done today so was able to meet the tenant. ive given him notice that the rent is going up to $450 after settlement & to decide if he wants to stay long term at that rate.

just want to know if cleaning the a/c filters is considered basic maintenance for the tenant.
cheers

[Lonewolf]

id say it would be, i've always cleaned mine.
IMHO:
Cleaning = tenant
fixing = owner

[Joe]

I'm not a lawyer, but I've had heaps of problems when an "Agent" looks after my properties, since I have been doing it my self (For a few years now) I haven't had a problem. Tennant s that have signed up with my proposed conditions - have been bliss and no problems.

Section 18 talks about making application to a court... that's my reading of it.

Section 63. Notice of termination by owner who has entered into
contract of sale
(1) An owner may give notice of termination of an agreement to the
tenant on the ground that he has entered into a contract for sale
of the premises to which the agreement relates and under that
contract he is required to give vacant possession of the
premises.
(2) Where an owner gives notice of termination under
subsection (1) the period of notice shall be not less than 30 days.
(3) An owner or agent of an owner shall not give notice of
termination under this section that falsely states the ground of
the notice.
Penalty: $2 000.
(4) This section does not apply to an agreement that creates a
tenancy for a fixed term during the currency of that term.

A mate had a house rented to State Government, went to sell, had 8 months of lease to go, tenant (being government) Would not move out, and he had to wait until the lease expired until someone would buy the house as being a residential pad.... new home buyers wanted to move into it.

My experience with it....

I guess that what lawyers are for...

Clause 18 of Schedule 2 of the Act deals with ending the tenancy. It is not one of the allowable clauses to be changed under the Act. I.e. if you change it in the agreement and make the tenant sign, they can apply to the Magistrates Court. You will cop a $2000 fine and the offending part of the Lease will be repealed in the tenants favour.

[Lump]

just had a letter sent to me from the managing agents (raine & horn) & they say they can get between $585 & $600 a week for this place, when a year ago it was let by them for $410 wtf?

have rents really gone up that much or are these appraisal letters generally BS?

[stumps.]

my 3x2 was rented out in doubleview prior to my purchase for $650 a week....

A decent house in como should fetch what they suggest

[Lump]

Its liveable and quite crappy, but it seems like a huge increase from 410

[Turbo2.6L]

Trying to get you in the door, then they'll assess it closer & come back around the $500 mark.
If $450 will cover what you need to make up on the mortgage, stick with that.

[Lump]

interesting...
but no, $450 a week will not cover a $590k mortgage!
cheers

[S85FI]

Clause 18 of Schedule 2 of the Act deals with ending the tenancy. It is not one of the allowable clauses to be changed under the Act. I.e. if you change it in the agreement and make the tenant sign, they can apply to the Magistrates Court. You will cop a $2000 fine and the offending part of the Lease will be repealed in the tenants favour.

2 k Is worth it then.... after having a house leased by A REIWA agent then coming home early from overseas to find people living in the house with no money coming to me....

Being away for months.... and being told no Tennant.... never again...

It's worked my way so far and I'm happy with that.... ;o)

[sensei_]

Being away for months.... and being told no Tennant.... never again...

wow thats pretty lousy management there.

my parents had a property that was left vacant for 2 months because they didnt look for any tenants as the old ones were moving out.

[Baron]

2 k Is worth it then....

When it says that part of the lease is repealed, it means it is removed. So you cop a $2k fine and the lessee remains in the property. Less worth it.


after having a house leased by A REIWA agent then coming home early from overseas to find people living in the house with no money coming to me....

Being away for months.... and being told no Tennant.... never again...

That's when you sue the agent for making money from your property. Well, first you threaten to report them to REIWA and have accreditation removed. I trust you took legal action though...?

[Lmx]

IMO, if they really think they can get you $600 per week just go with it, if it's much higher then you estimated, might just be easier to let it go

[S85FI]

When it says that part of the lease is repealed, it means it is removed. So you cop a $2k fine and the lessee remains in the property. Less worth it.



That's when you sue the agent for making money from your property. Well, first you threaten to report them to REIWA and have accreditation removed. I trust you took legal action though...?

Only cop a fine if someone takes me to court....

As to the agent, REIWA and REBA could not do a thing as they had no authority to do anything. Only if the agent volunteered to be investigated.

As to court.... how was I going to prove that someone lived in the joint? could only prove the day I walked in on the person and they had a week to get out to which they moved out the next day....

Oh well.... lucky I'm old school to get things sorted out....

In the last three years (while managing my self) I haven't had any bad tenants to any of my investments. Whether my methodology is legal or not - it certainly gets rid of the potential trouble with a bad tenant. And if it costs me 2k, so be it, and agent certainly would cost me more than that.... fingers crossed... for futures tenants. ;o)

[Lump]

IMO, if they really think they can get you $600 per week just go with it, if it's much higher then you estimated, might just be easier to let it go
i think turbo2.6L was right, the agent (raine & horne maida vale), must have been takin the piss.

anyway, ive said to the tenant i want $450 a week for it, they are going to let me know if they want to stay.

if they dont, I'm pretty sure i can easily get new people in there, a view of the raffles from the front yard is gotta be worth something :D

[Baron]

Only cop a fine if someone takes me to court....

As to the agent, REIWA and REBA could not do a thing as they had no authority to do anything. Only if the agent volunteered to be investigated.

As to court.... how was I going to prove that someone lived in the joint? could only prove the day I walked in on the person and they had a week to get out to which they moved out the next day....

Oh well.... lucky I'm old school to get things sorted out....

In the last three years (while managing my self) I haven't had any bad tenants to any of my investments. Whether my methodology is legal or not - it certainly gets rid of the potential trouble with a bad tenant. And if it costs me 2k, so be it, and agent certainly would cost me more than that.... fingers crossed... for futures tenants. ;o)

You prove that someone was living there by the process of discovery, where you get documents from the real estate agent, and you interview tenant etc. All I'm saying is you could have gotten the money back.

The whole point of a lease is that it provides some security for the tenant. If you don't want to give them security, offer it as a different arrangement, don't try and screw someone over illegally. If you ever do attempt to use your 'clause' to kick someone out, I hope that your tenant knows their rights.

[Lump]

well settlement day is fast approaching so i will need a lease contract for the current tenants to sign for when i take the property over.

before i go to the hassle of writing one up, does someone have one they can email me that i can base mine on?
thanks!

[Lmx]

Just go and get the 2 forms from a newsagent. Pretty much all you need, can't recall the names but its all we did and it was all fine

[Lump]

sounds great,
thanks

[Lmx]

Okay, found one of them,
http://www.commerce.wa.gov.au/consumerprotection/PDF/Forms/RT24A_Dec_09_amended.pdf
Have a read

Includes the whole tenant can't do this or that etc etc

[S85FI]

Following might help

http://landlordspecialists.com.au/before-tenancy/tenancy-agreements/

Chase one like this on the net for a copy http://reiwa.com.au/Documents/residential%20property%20lease.pdf, there are blank ones without the water mark.


Good luck

[Joe]

Okay, found one of them,
http://www.commerce.wa.gov.au/consumerprotection/PDF/Forms/RT24A_Dec_09_amended.pdf
Have a read

Includes the whole tenant can't do this or that etc etc

This is the one I use.