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New $99 fee for renewal of existing tenancy agreement
Topic Started: 27 Sep 2013, 10:25 AM (2,873 Views)
herbie
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foxbat101
28 Sep 2013, 11:02 AM
I think they should charge you more.
Just think of your landlord who is subsidising your lifestyle.
If you where paying the true cost of the position you are in i think you would get a huge shock.
Peter
:pop:
I AM the LL Fruitfly ... :hmm:
A Professional Demographer to an amateur demographer: "negative natural increase will never outweigh the positive net migration"
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barns
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herbie
27 Sep 2013, 10:25 AM
My RE Management Agency just recently sent me a letter, that much as they regret it, as times are tough, they're gunna have to start charging me a $99 fee (which includes GST) every time they renew an existing tenancy agreement.

Is this usual/becoming usual in the industry?
Just add it into the rent and be done with it. That's where these extra charges will eventually end up anyway.
“You Keep Using That Word, I Do Not Think It Means What You Think It Means” - Inigo Montoya
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Sober
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barns
29 Sep 2013, 07:47 AM
Just add it into the rent and be done with it. That's where these extra charges will eventually end up anyway.
Any Grade-A renter will tell you to get stuffed, providing the backbone you should otherwise have in relation to spurious RE Agent charges like this one.
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goldbug
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Massive
27 Sep 2013, 08:23 PM
Pig Iron
27 Sep 2013, 07:16 PM
don't worry i know someone who sold a house in 2003 for $60k.

the thing is worth about 800k now. he literally falls into depression at it's mention.
where was that ???

thats a compound annual growth rate of 29.5 % !!
You will find that, and most of pigirons other unique facts, up that dark hole between his bum cheeks.
herbie
27 Sep 2013, 06:05 PM
goldbug
27 Sep 2013, 05:11 PM
Well they have to eat too you know. Expect all sorts of new charges in the years ahead as desperate agents cover costs.
Very bad time to be a LL I am afraid, those of us who sold our properties last decade are truly sitting pretty now.
Yeah well, there's squat all else for dumb ole farts like me to put our cash in that ain't also in a bubble hey GB?
I have found gold has been good to me. About a 50% increase in 4 years at the moment. A term deposit is ok as well provided you are not trying to live off it. The simple fact is that all storehouses of money are questionable and volitile now, this is one of those times in history when we need to ignore the return on our investments and seek only the return of our investments. Trying to invest as though we are going back to the good times of the 1980's and 90's is the worst way to move forward.

It's a new paradigm we have entered, the end game of the debt super-cycle. Why can't people get that into their heads?
Edited by goldbug, 29 Sep 2013, 08:50 AM.
Shadow was hopelessly wrong about the Gold Bull Market.
What else is he wrong about?
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barns
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Sober
29 Sep 2013, 08:04 AM
Any Grade-A renter will tell you to get stuffed, providing the backbone you should otherwise have in relation to spurious RE Agent charges like this one.
It's naive to think there is not an element of cost plus inflation in rents. I know it's not a popular view around here but, particularly with a long term tenant, a landlord's decision to seek an increase in the rent or not will include consideration as to whether costs have increased in the past year.
“You Keep Using That Word, I Do Not Think It Means What You Think It Means” - Inigo Montoya
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herbie
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barns
29 Sep 2013, 11:35 AM
It's naive to think there is not an element of cost plus inflation in rents. I know it's not a popular view around here but, particularly with a long term tenant, a landlord's decision to seek an increase in the rent or not will include consideration as to whether costs have increased in the past year.
"Cost Inflation" strikes me as a curious one.

Having read lots of blogs on this stuff, many tenants seem to think that when interest rates go down, their LL must be doing OK - Because they just naturally think he's up to his ears in debt I guess? 'N as such, they should maybe get a bit of that benefit passed on to them. As it doesn't cross their mind that their LL might be debt free - So getting no advantage from IR drops. Rather, losing out on interest he might earn on the cash he hasn't put into housing even?

Yep, our world is definitely geared towards debtors alright.
A Professional Demographer to an amateur demographer: "negative natural increase will never outweigh the positive net migration"
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miw
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Sober
29 Sep 2013, 08:04 AM
Any Grade-A renter will tell you to get stuffed, providing the backbone you should otherwise have in relation to spurious RE Agent charges like this one.
It's $2 per week. Most renters are not going to be getting their knickers in a knot about $2/wk when it comes to a lease renewal, but then neither are most LLs. Both sides lose much more from a breakdown in the deal.

The issue is that most Agents are not charging this, so for most renewals this $2/wk is not even part of the discussion. All other things being equal, I would certainly be looking to change to an agent that is not charging $100 for a service that is a routine exchange of paperwork and in general is seen as part of what the commission pays for. Next thing you know, the agent will be trying to charge $200 for routine inspections, etc etc.
The truth will set you free. But first, it will piss you off.
--Gloria Steinem
AREPS™
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Foxy
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Zero is coming...

Sober
29 Sep 2013, 08:04 AM
Any Grade-A renter will tell you to get stuffed, providing the backbone you should otherwise have in relation to spurious RE Agent charges like this one.
there is no a grade renters, they are all b grade or below.
Peter

Massive
27 Sep 2013, 08:38 PM
yeah ... i entered the workforce in early 00's and saw some of it before i got too disillusioned and left the country chasing other opportunities !

but never heard of anything getting close to 30% over 10 years ...

holy shit !!
my mom and dad bought a house in Inglewood for $52,000 in 1987 it is worth $1,100,000 now.

Western Australia has been a crazy place to have a house.

My house was $210,000 in 1992 today $1,800,000.

Peter
:pop:


herbie
28 Sep 2013, 12:50 PM
I AM the LL Fruitfly ... :hmm:
shoot the messenger.
Everything will be ok then.
Peter
:pop:
goldbug
29 Sep 2013, 08:42 AM
You will find that, and most of pigirons other unique facts, up that dark hole between his bum cheeks.

I have found gold has been good to me. About a 50% increase in 4 years at the moment. A term deposit is ok as well provided you are not trying to live off it. The simple fact is that all storehouses of money are questionable and volitile now, this is one of those times in history when we need to ignore the return on our investments and seek only the return of our investments. Trying to invest as though we are going back to the good times of the 1980's and 90's is the worst way to move forward.

It's a new paradigm we have entered, the end game of the debt super-cycle. Why can't people get that into their heads?
good luck,
every dog has it's day.
Peter
Edited by Foxy, 30 Sep 2013, 09:59 PM.
http://www.afr.com/content/dam/images/g/n/2/1/u/8/image.imgtype.afrArticleInline.620x0.png/1456285515560.png
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