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Thanks everyone.
I ended up telling them to intall at their own cost. They were pretty cool with it.
Thanks heeps everyone for your help…
Thanks units4me
Also, not sure about Linar's advice 'if their lease expires on 1 May then they need to be out on 1 May. You can start advertising now for new tenants to commence on 1 May.'
Not sure how it works in other states but not in Vic. You are still req to give the required notice to vacate. A notice to vacate for end of fixed term is 60 days notice for a 6 month agreement and 90 days for a 12 month. The vacate date must be on the same date of the end of lease, no later. Otherwise it's a 120 days. Once a tenant gets a notice to vacate and are on a month to month periodical agreement, they can serve a 14 days notice which gives you less time to prepare. As you can see the legislations leans more towards the tenant as it's their principle place of residence.
Hello.
Not sure what state you're in, however my advice is based on vic law.
As stated earlier, once the lease expires, it goes on a month to month. By law, a tenant must give at least 28 days notice to vacate. By law, an agent/landlord can allow prospective tenants to enter the property within 14 days prior to the expiry of any vacate notice (by landlord or tenant). You can negotiate with your tenant to allow you to show prospective tenant in the property within the 28 days. Make sure you get written consent to back you up. The way the rental maket is at the moment, you agent shouldn't have a prob with finding another tenant.
Don't stress, just make sure that your tenants comply with the law, if they don't and just leave, you can claim compensation up to 28 days for not giving you notice. You should be able to claim this from the bond.
Check with you local gov't office that provide res tenancy advice in your state if not vic.
If you want to give notice, unless it's for a specified reason with the requirement of the law (check with your agent) it must be 120 days notice for no specified reason.
I think you best to wait until the tenants give you notice, just make sure that they understand what they must do by law. Again, your agent should be on top of all this.
Hope this helps.
Thanks millions.
tend to agree with you.
Thanks lalibella.
I understand agents worth, however the time that my prev. manager spent on my apartment managing was…… well nothing. I figured if he can do it then so can I. When I have more properties under my belt, I will consider passing them onto a good agent.
Thanks
Thanks Millions.
This is very useful info.
Sounds like you would have some good stories to tell.
dlpp and ricky.
Thanks for your response.
DLPP. Im in the middle of checking out REIV in becoming licensed. Hopefully it won’t take too long.
Ricky. I will email you next week for a further chat.
Thanks for replying.
no problems. thanks for that.
Sorry I forgott to add. Im based in the melbourne and geelong region.
Thank you.
If you want to play the game then do it by saying something like, ”My offer stands, let me know if something else comes up” If they aren’t prepared to accept it then play their bluff. Investing isn’t apart of love, it’s about being practicle. If it was love then yeah, maybe you should have given your best offer.
Thank you for your detailed advice.
I’m going to put in the offer this week so let just hope i can get this deal….
Im in it for live in and renovate. Im very new and would like to use this as an opportunity to learn, make contacts and hopefully get some profit out of it.
Fingers crossed.
Thanks again.
richard.
hey mate.
The only thing you can do is claim for the difference from the bond. eg. Bond = $800, compensation = $1500, claim amount = $700.
So if the tribunal orders the tenant to pay $700 plus the right for l.l to pay the bond, you will have to take the ten to a higher proceeding (magistrates) to claim the $700.
The system sucks and would prob work out to be more expensive through the mag. So to answer your question… No you probably won’t get it back unless the ten is honest (unlikely) or it’s for the principle.
Sorry for the unless info but it usually works out this way.
thanks to everyone’s imput here.. Has really opened things up for me!
Cheers all.
Nice one phil. : )
Hey mate.
First of all… Relax and breathe in deep. You seem to be in a rush all of a sudden.
You have tried pretty much all of the low risk options already.
Your next step would probably be a manage fund, i.e. perpetual.
M.F is ideal for people new to the stock market game. Current history indicates around an ave. of 10% return. Depend what type of fund. Organise and Automatic investment plan of around 10% of your wage for a min of 5 yrs.
Hopefully buy then you will have enough money to play with in real estate! Or take a risk and invest in Steve’s books on how to invest in property. Well worth the investment.
Try out his seminars. They will make things a little easier.
Good luck and don’t forget to live a little!!
hrm
Let me know how it goes buddy.
Turkey is a beautiful country and would probably have a lot of opportunities. Thing is.. When i was there, i noticed that they were able to sell to backpackers a rug that was larger than them selves…. Imagine what they could do to you in real estate. My advice would be to hook up with a local that can do the investigation for you.
Oh Dazzling… I forgot one more info which you may have used already.
You can give 24hrs notice to enter the property under section 86, sub section (e) or (f).
Sub e, is to enter due to the belief that the tenant has failed to comply with their duties (eg. to keep the property in good condition would be one).
Sub (f) would be general inspection of 6 months.
If he is using his excuse of being illiterate, you can still serve a breach of duty notice for not allowing entry to the premis. Basically treat it as you would with any other tenant. If he has still refused entry within 14 days of the notice then take him to VCAT to get an order to enter. If he doesn’t appear then the hearing will continue as usual. Just make sure you send all notices by registered post. Hopefully VCAT will also consider that a tenant should not hold is ability not to read as an excuse and until proven otherwise would continue in the usual manner. If anything an illiterate would use someone else to read it for him.
If he doesn’t respond to an order from the tribunal to allow you entry, then you can serve a 14 days notice to vacate, sec 248, for not responding to a tribunal order. This is when we get tenants crying about a warrant of possession…..’the police have come to my door and told me to get out in 3 days”. My response would be”did you bother to go to the post office and retrieve the letters?” Most of the time the answer is no!
I hope this helps.
Take it easy.
Richwooops.. i came a little late in the chat.. Glad to hear it worked out.
