All Topics / Help Needed! / Multiple Tenants

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  • Profile photo of mick64mick64
    Participant
    @mick64
    Join Date: 2012
    Post Count: 45

    Just wanting to check the legalities of multiple tenants.

    The IP we are in the process of purchasing is a 3 bed 2 bath duplex. It is currently rented out to 3 separate tenants giving a better than expected return. I didn't think this was a legal situation until reading Steve's book where he said it was a good thing!

    The property is in NSW

    Mick

    Profile photo of Scott No MatesScott No Mates
    Participant
    @scott-no-mates
    Join Date: 2005
    Post Count: 3,856

    Have you ever lived in a share house?

    Provided you aren’t resorting to splitting up bedrooms lounges and dining rooms to create extra bedroom areas ie you aren’t building any rooms there should be few issues.

    Profile photo of mick64mick64
    Participant
    @mick64
    Join Date: 2012
    Post Count: 45

    Hi Scott,

    Yeah I have, but we wont go into that!

    No extra rooms being created and the tenants seem to be getting on so it may be a win win.

    Profile photo of Scott No MatesScott No Mates
    Participant
    @scott-no-mates
    Join Date: 2005
    Post Count: 3,856

    The only thing I’dsuggest is putting smoke detectors in each bedroom (hard wired & linked together).

Viewing 4 posts - 1 through 4 (of 4 total)

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