Xander
Hi, just need some info if any one has some. My issue is I am looking to buy a villa to move into. my lease isnt up until mid next year so i'm looking for something established preferably with tenants in it. I have since been told by a reputable realestate agent that I could have problems evicting the tenant once their lease is up even if Im planning to move in. The tenant is able to take it to rental committee and they can rule in the tenants favour to stay. The tenant can argue that they can't find anything comparable for the price they are paying and so they are entitled to stay for at least 3 years. This seems absurd if I am taking out a mortgage and I cant live in it and they are able to stay and pay under market price for rent. Is this really the case?? Considering I am buying the property at market value. Crazy :? Help someone that has done it or knows someone who has. Thanx in advance
bonk
- Xander wrote:
The tenant can argue that they can't find anything comparable for the price they are paying and so they are entitled to stay for at least 3 years. This seems absurd if I am taking out a mortgage and I cant live in it and they are able to stay and pay under market price for rent. Is this really the case??
Yes, there are more and more stories similar to this. If you buy to rent, assume your tenant has a 3 year contract. Then you won't be disappointed.
You might be ok with something like a 1 year fixed term contract if it's made absolutely clear, in writing, in triplicate. But you might not, if you get a tenant who wants to be difficult in a years time.
gtmash
My tenant is "threatening" to leave (I don't really care) because the stupid developer is taking ages fixing minor plumbing problems (which I am wasting my mornings supervising since I am trying to do the decent thing).
Create some problems that'll make them want to leave.
dubaigoldcoast
Hi Xander,
Tenants can come up with sorts of reasons, so rather than risk the problems, I'd buy without a tenant. There are places available, if we can help let me know.
Regards
Garry Duffield
Australian Property World
sage & onion
- dubaigoldcoast wrote:
Hi Xander,
Tenants can come up with sorts of reasons, so rather than risk the problems, I'd buy without a tenant. There are places available, if we can help let me know.
Regards
Garry Duffield
Australian Property World
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^ian^
Have you seen his website? It's a joke.
I'll be on the GC in a few weeks, might pay the man a visit, or at least piss on his Toyota Corolla.
sage & onion
- ^ian^ wrote:
Have you seen his website? It's a joke.
I'll be on the GC in a few weeks, might pay the man a visit, or at least piss on his Toyota Corolla.
Sounds like a plan :lol: