Tenant trying to call the shots regarding rent increase
After having not raised the rent on one IP for three years for personal reasons and then a year ago due to a last minute change of mind from sitting tenant who was leaving, but suddenly asked to stay, we decided to raise the rent on this house by $30 per week when the lease is due next month. That brings it to market rates, but if it was empty we would ask a little more in case we got lucky.
I notified the tenant that we would be increasing the rent by $30 per week, explained that this is the first raise in three years (she has been there two years) and let her know she could let me know if she wished to stay.
Got an email back a couple of days ago saying she and her housemates had discussed it, and decided they "would accept $25 extra" .
I smiled to myself when I read it, hubby smiled too and said "stick to the increase".
She is a fantastic tenant, paying less than market due to circumstances that mean she was "in the right place at the right time" but her use of "we will accept" made me smile. Who is running this show?
We don't want to lose her, and risk having a week or two vacancy, but we are sticking to our guns. Bit cheeky!
Quote:
Dear Ms XXXXXX
Thank you for discussing the proposed rental increase with your housemates to advise them that a rental increase was upcoming to allow them to budget the changes. Also thankyou for your counter offer of $25 per week.
However this is not an episode of Australian Idol where your votes count, nor is it a democracy where majority rules.
Upon consideration of the rental review and subsequent discussions, the rent will be increased by $50 per week in 90 days from the date of this letter.
I look forward to your either your written acceptance of this increase, or your letter of intent to vacate the premises, within 7 days.
And by deliberately misrepresenting what happened makes you better? That is not the response the landlord sent back to the renter - you know it and I know it. If you are going to pay out property investors, try to do so without resorting to misrepresenting it.
Should I sell my Kedron, QLD, 4120 unit for a loss? Hello,
I need some advice on my investment unit located in Kedron, QLD, 4031. It's a small 2 bedroom and completely unrenovated. I paid $260,000 for it 2 years ago.
The reason I want to sell is because it's costing me way too much to keep. The rental income is $210 weekly. It costs me about $2000 a month to keep/maintain including the mortgage payment.
I have been offered $235,000 for it. My mortgage is $235,000. If I accept this deal I will still owe approx. $7000 on the mortgage and $7000 in body corporate fee's.
If I sold for this amount my total debts would be approx. $21,000.
The interest on the mortgage is about 6.5% The interest on the body corporate is 0% The interest on my credit card is 9.5% (I owe $4000) The interest on the remaining amounts is 0%
If I hold on to the unit I will be forced to pay about another $6500 in body corporate fee's in approx. 1 - 2 years. To fully renovate it will be about $25,000.
Should I sell the unit for $235,000 and cut my losses? I would have lost about $40,000 in total and still owe $21,000.
Help! Jason
**the postcode is 4031 (not 4120) Last edited by Jason Star; 23-02-2012 at 07:33 AM.
Should I sell my Kedron, QLD, 4120 unit for a loss? Hello,
I need some advice on my investment unit located in Kedron, QLD, 4031. It's a small 2 bedroom and completely unrenovated. I paid $260,000 for it 2 years ago.
The reason I want to sell is because it's costing me way too much to keep. The rental income is $210 weekly. It costs me about $2000 a month to keep/maintain including the mortgage payment.
I have been offered $235,000 for it. My mortgage is $235,000. If I accept this deal I will still owe approx. $7000 on the mortgage and $7000 in body corporate fee's.
If I sold for this amount my total debts would be approx. $21,000.
The interest on the mortgage is about 6.5% The interest on the body corporate is 0% The interest on my credit card is 9.5% (I owe $4000) The interest on the remaining amounts is 0%
If I hold on to the unit I will be forced to pay about another $6500 in body corporate fee's in approx. 1 - 2 years. To fully renovate it will be about $25,000.
Should I sell the unit for $235,000 and cut my losses? I would have lost about $40,000 in total and still owe $21,000.
Help! Jason
**the postcode is 4031 (not 4120) Last edited by Jason Star; 23-02-2012 at 07:33 AM.
$0.25M for a 2-bedroom dog-box that needs work done before being approved as liveable......
No - nothing to see here....no bubble.....move along please....
Love this quote - 'The Brisbane market has bottomed'!
Wow.
I don't think we have seen the end of this sorry saga by a long shot.
Wow $61k losses, on that. Sydney and Melbourne will be a blood bath because piece of shit dogboxes are $400-$500k.
stinkbug omosessuale Frank Castle is a liar and a criminal. He will often deliberately take people out of context and use straw man arguments. Frank finally and unintentionally gives it up and admits he got where he is, primarily via dumb luck! See here Property will be 50-70% off by 2016.
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