Prepare to smack your smartphone, laptop or phablet in shock: the vast majority of tenants are happy with their landlords.
This is deeply disturbing news to a column whose stock in trade is angry tenants complaining about landlords and letting agents.
However, a survey by domain.com.au has found that more than 73 per cent of renters have good relationships with their landlords, the majority of whom fix problems with the properties promptly and efficiently.
Also, nearly 60 per cent of respondents think rental increases have been reasonable, and 64 per cent believe they are paying a fair market rate for their rental.
“We hear stories all the time about nightmare rental properties with broken fixtures that the landlord is unwilling to fix, and greedy landlords unfairly jacking up the rent,” said Stuart Benson, a spokesman for domain.com.au. “However this does not seem to be the common experience.”
One was a private rental - fantastic LLs (from tenant perspective). Never did an inspection in a couple of years. Fixed a couple of maintenance requests promptly.
Other was through an agency but the LL was an electrician so got to know him when he came around to do work a few times. Nice guy. Did maintenance requests promptly. Allowed my flatmate to do some painting (professional painter) and agreed colours between them.
Never knew any of the other LLs, but the agents mostly acted reasonably.
This makes sense. Having a good relationship makes everything much easier, and generally means each side gets the most benefit from the arrangement.
I always have issues fixed ASAP, figuring that if I look after the tenant, the tenant will look after me (ie take care of the place and pay the rent on time). In 10 years of investing I've only ever had one problem, which resulted in the tenant leaving (left the house clean and tidy, and rent paid up), and the tenancy was replaced in less than a week.
In the last 10 years I would have had maybe a month of un-occupied investment properties across the whole portfolio combined.
This makes sense. Having a good relationship makes everything much easier, and generally means each side gets the most benefit from the arrangement.
I always have issues fixed ASAP, figuring that if I look after the tenant, the tenant will look after me (ie take care of the place and pay the rent on time). In 10 years of investing I've only ever had one problem, which resulted in the tenant leaving (left the house clean and tidy, and rent paid up), and the tenancy was replaced in less than a week.
In the last 10 years I would have had maybe a month of un-occupied investment properties across the whole portfolio combined.
any tenant that can add 2+2 knows they are getting their lifestyle subsidized by the ever suffering landlord. Peter
stinkbug
8 Aug 2013, 10:11 AM
This makes sense. Having a good relationship makes everything much easier, and generally means each side gets the most benefit from the arrangement.
I always have issues fixed ASAP, figuring that if I look after the tenant, the tenant will look after me (ie take care of the place and pay the rent on time). In 10 years of investing I've only ever had one problem, which resulted in the tenant leaving (left the house clean and tidy, and rent paid up), and the tenancy was replaced in less than a week.
In the last 10 years I would have had maybe a month of un-occupied investment properties across the whole portfolio combined.
I always have issues fixed ASAP, figuring that if I look after the tenant, the tenant will look after me (ie take care of the place and pay the rent on time). In 10 years of investing I've only ever had one problem, which resulted in the tenant leaving (left the house clean and tidy, and rent paid up), and the tenancy was replaced in less than a week.
In the last 10 years I would have had maybe a month of un-occupied investment properties across the whole portfolio combined.
Quote:
This makes sense. Having a good relationship makes everything much easier, and generally means each side gets the most benefit from the arrangement.
Totally agree. I've always been reasonable and accommodating, and it's gone both ways.
My only bad experience was when the LL wanted to sell and I had to deal with a prick of a sales agent. Turned up unannounced (before a notice of intention to sell had been issued) to show to half a dozen other agents . As the house was most likely to sell to an investor I tried to cut a deal where I would allow access/presentation more like an OO would, and in return we would remain week to week. Puffed up his chest and told me that he would give one hours notice of inspections and definitely no deal. Guess what? - He got no more than two inspections pw with the required notice period, no photos, no opens, no attention to presentation etc. House sold to an investor - sat vacant for several months while it was marketed, settled and re tenanted.
It's a myth that most LLs are bad, equally so for tenants.
The properties my hubby & I have are managed ...most minor repairs is done by my man. We've had a fair share of shit property managers, we stipulate that we be contacted for maintenance issues...anything from changing a washer to whatever...otherwise they will call anybody to charge $$$$.
Most tenants have been great ..no damage , rent paid on time...some doozy ones who I think have had mental health issues...1 was quite verbally abusive to the PM & manipulated to suit his own agenda.
In 2012 The neighbor caused dramas. We had trouble with 1 property where the neighbor assaulted our tenant..he has schizo had this irrational thought that the tenant wanted to hurt him. The tenant has stated that he never looked for trouble with the guy.... Front lounge window got smashed with the bat.... Well the tenants only lasted 6 months... Couldnt blame them...i spoke to the dudes mother to try to control his behaviour..he is solid & tall in his thirties.....his mum petite & elderly...no match for his paranoid episodes....issued a restraining order on the guy.. Which was worth zilch..fortunately no issues further to this day....I do wonder how the poor mother copes..
Newjerk? can you try harder than dig up another person's blog. My first promo was with Billabong and my name in English is modified with a T, am Perth born but also lived in Sydney to make my $$ It's Absolutely Fabulous if it includes brilliant locations, & high calibre tenants..what more does one want? Understand the power of the two "P"" or be financially challenged Even better when there is family who are property mad and one is born in some entitlements.....Understand that beautiful women are the exhibitionists we crave attention, whilst hot blooded men are the voyeurs ... A stunning woman can command and takes pleasure in being noticed. Seems not too many understand what it means to hold and own props and get threatened by those who do. Banks are considered to be law abiding and & rather boring places yeah not true . A bank balance sheet will show capital is dwarfed by their liabilities this means when a portions of loans is falling its problems for the bank.
The Adelaide rental I am in is for sale, on the market for 90 days, 2 price revisions, no one (NADA) have even offered anything let alone the asking price!
The agent, when he comes around, appears to be baffled that it is not getting any interest! Asking-price to rent ratio, is quite healthy, with at least 3.5% yield (after all costs deducted!). Hey with Uni, big shopping centre, train station all 100 metres away, it should have been a “no brainer” (that's his language) but NAH. NADA.
Now landlord is going to lose that 3.5% yield too as I am leaving (because of inconvenience of “open inspections”).
Another couple of months, the returns would be almost -7%, so either the landlord caves in and races to the bottom or his finances will! If he decides to rent the place again, good luck finding 3.5% yield right now, because all the other similar places (in and around) are advertised at 10% less rent!
Now, the new rental I am moving to (in two weeks time) is brand new (people are still putting the finishing touches, council apparently allocated a new address yesterday in place of old number!), I would price the yield to be around 2.5% (after costs!).
The landlord had two houses (both brand new), on inspection day, it was me and another person, looks like the other person took the second house. When I mentioned I got a decent deal on the rental, my colleagues suggested that “you are looking at high end of scale, so there will be less people wanting to rent and supply might be more!”
I don't know whether to feel happy that I was looking at “higher end of scale” or feel sad that I could have saved by looking at “normal end of scale”.
I am paying 50% less than the rent I was paying when I lived in NSW!
One of friends at work is a landlord and he had to evict his tenant (with a family and 2 kids) because they fell back on rent as both husband and wife lost the jobs! It is currently sitting empty.
I would welcome and even encourage more investors buying in Adelaide, its a good city, decent driving times.
It will help me save more on my rent so that I can go on that extra overseas holiday (on top the two) every year! Off to Samoa in four weeks time!
The Adelaide rental I am in is for sale, on the market for 90 days, 2 price revisions, no one (NADA) have even offered anything let alone the asking price!
The agent, when he comes around, appears to be baffled that it is not getting any interest! Asking-price to rent ratio, is quite healthy, with at least 3.5% yield (after all costs deducted!). Hey with Uni, big shopping centre, train station all 100 metres away, it should have been a “no brainer” (that's his language) but NAH. NADA.
everything sells at the right price - your landlord is either disillusioned about the market value of the property or not fussed because it isn't costing him any money. By doing this he risks the listing going stale though, which it probably has.
APF - a place where serious people don't take themselves too seriously. There's nothing else like it.
To get runs on the board, residential investors have to be able to identify in-demand rental areas.
This isn't as easy as it looks. Families who rent, older people and single and couple members of Generation Y want different amenities. And, because of affordability issues, tenants will favour some areas over others.
If you're looking to buy an investment property, it's important to look beyond broad residential vacancy rates. For example, renters under the age of 35 often share accommodation so that they can afford to live in preferred locations. Added to this, tenants of all ages are leaving lesser quality properties, or staying in this accommodation on increasingly shorter leases, and switching to quality, well-maintained properties.
Where are Melbourne's rental hot spots? Collingwood, Boronia, Brunswick East and Meadow Heights are the leaders of the pack, according to a new study by SQM Research published in the latest edition of Australian Property Investor.
Collingwood is the epitome of inner-city cool. It's so popular, according to the magazine, that real estate agents are bombarded with queries an hour or two after a rental listing goes up on the internet.
SQM says Collingwood has a vacancy rate of 0.9 per cent (Melbourne's overall vacancy rate is 2.7 per cent, and was above 3 per cent last year). The average weekly rent for a house in the suburb is $533, while units fetch $451 a week.
Boronia, in the outer east, attracts different renters, mainly young families with two or three children. The vacancy rate is 1 per cent and the average weekly house rent is $345, while units earn $338.
A veritable smorgasbord of factors comes into play in making an area popular with tenants. Affordability, desirability and access to lifestyle attractions, as well as access to schools, shops and other amenities are just some of the drivers of demand.
Australian Property Forum is an economics and finance forum dedicated to discussion of Australian and global real estate markets and macroeconomics, including house prices, housing affordability, and the likelihood of a property crash. Is there an Australian housing bubble? Will house prices crash, boom or stagnate? Is the Australian property market a pyramid scheme or Ponzi scheme? Can house prices really rise forever? These are the questions we address on Australian Property Forum, the premier real estate site for property bears, bulls, investors, and speculators. Members may also discuss matters related to finance, modern monetary theory (MMT), debt deflation, cryptocurrencies like Bitcoin Ethereum and Ripple, property investing, landlords, tenants, debt consolidation, reverse home equity loans, the housing shortage, negative gearing, capital gains tax, land tax and macro prudential regulation.
Forum Rules:
The main forum may be used to discuss property, politics, economics and finance, precious metals, crypto currency, debt management, generational divides, climate change, sustainability, alternative energy, environmental topics, human rights or social justice issues, and other topics on a case by case basis. Topics unsuitable for the main forum may be discussed in the lounge. You agree you won't use this forum to post material that is illegal, private, defamatory, pornographic, excessively abusive or profane, threatening, or invasive of another forum member's privacy. Don't post NSFW content. Racist or ethnic slurs and homophobic comments aren't tolerated. Accusing forum members of serious crimes is not permitted. Accusations, attacks, abuse or threats, litigious or otherwise, directed against the forum or forum administrators aren't tolerated and will result in immediate suspension of your account for a number of days depending on the severity of the attack. No spamming or advertising in the main forum. Spamming includes repeating the same message over and over again within a short period of time. Don't post ALL CAPS thread titles. The Advertising and Promotion Subforum may be used to promote your Australian property related business or service. Active members of the forum who contribute regularly to main forum discussions may also include a link to their product or service in their signature block. Members are limited to one actively posting account each. A secondary account may be used solely for the purpose of maintaining a blog as long as that account no longer posts in threads. Any member who believes another member has violated these rules may report the offending post using the report button.
Australian Property Forum complies with ASIC Regulatory Guide 162 regarding Internet Discussion Sites. Australian Property Forum is not a provider of financial advice. Australian Property Forum does not in any way endorse the views and opinions of its members, nor does it vouch for for the accuracy or authenticity of their posts. It is not permitted for any Australian Property Forum member to post in the role of a licensed financial advisor or to post as the representative of a financial advisor. It is not permitted for Australian Property Forum members to ask for or offer specific buy, sell or hold recommendations on particular stocks, as a response to a request of this nature may be considered the provision of financial advice.
Views expressed on this forum are not representative of the forum owners. The forum owners are not liable or responsible for comments posted. Information posted does not constitute financial or legal advice. The forum owners accept no liability for information posted, nor for consequences of actions taken on the basis of that information. By visiting or using this forum, members and guests agree to be bound by the Zetaboards Terms of Use.
This site may contain copyright material (i.e. attributed snippets from online news reports), the use of which has not always been specifically authorized by the copyright owner. Such content is posted to advance understanding of environmental, political, human rights, economic, democratic, scientific, and social justice issues. This constitutes 'fair use' of such copyright material as provided for in section 107 of US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed for research and educational purposes only. If you wish to use this material for purposes that go beyond 'fair use', you must obtain permission from the copyright owner. Such material is credited to the true owner or licensee. We will remove from the forum any such material upon the request of the owners of the copyright of said material, as we claim no credit for such material.
Privacy Policy: Australian Property Forum uses third party advertising companies to serve ads when you visit our site. These third party advertising companies may collect and use information about your visits to Australian Property Forum as well as other web sites in order to provide advertisements about goods and services of interest to you. If you would like more information about this practice and to know your choices about not having this information used by these companies, click here: Google Advertising Privacy FAQ
Australian Property Forum is hosted by Zetaboards. Please refer also to the Zetaboards Privacy Policy
