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Hi Debbie, Have you considered selling the property as a rent to own & taking it off the market? I only ask as this may be a way to get the price you require for the home.
By allowing someone in the home time to get themselves sorted to go to the bank may give you a wider target audience for selling your home. Further to this depending on how long you allow them in the home to purchase as a rent to own you can ask them to pay the council rates, insurance, water rates etc pro rata from the date of occupation.
As you have been affected by the floods (whilst not personally) giving some time to sell from this event may make it easier for someone to purchase in 1-2years & you will still have money going onto the loan by your tenant/buyer.
There are plenty of lawyers who specialise in this form of vendor finance law who can assist you with advice/drawing up contracts or alternatively there are people throughout Australia who can assist you with selling your home in this manner.cindyc244 wrote:Hello we have a tenant who has been, shall we say, challenging from the day they moved in. Her lease expires on 28 may this year. (Saturday) but following a tribunal hearing she was given the option of ending it early in writing, which she chose to take. She gave her final day day as Monday 23rd, then went on to say as the carpets might not be dry she would like the final inspection on the tuesday evening. (thus gaining another day). The inspection was arranged, and this morning Tuesday i recieved a text stating she "is not ready" and the inspection will have to be Wednesday evening. I explained that we had already given her the extra day and it was not convenient as we had booked time off work to inspect house and that on the Wednesday we had workman calling and needed the vacant possession. She became aggitated and bordering on abusive saying it was hard luck she wasnt ready.
The problems i find are that when i ring the tenancy advise line i get different answers depending on who i speak to. Today i was told as she stated Monday as her last day she had til midnight. We have kindly given her an extra day so to go round early in the morning Wed and take possession. If there is anything of hers in the house to store it securely and she has to go.
I called back to ask another question and explained again the situation, and was told if her stuff is stil in there we can not remove it and may have to apply to the tribunal to get vacant possession. I stated i did not know what "not ready" meant. and was told to "just rock up" and see what we find.This is all so frustrating giving all her other history.
Where do we stand??I have just recieved a text from her stating " I could not answer your earlier text as i was driving the removal van. (??? not moved out yet??) I spoke to the tribunal and they say i have til midnight tonight (tuesday) and can meet you tomorrow evening"
*It would appear she has told them her last day was Tuesday not the monday stated in her letter and has given "the extra carpet drying date" as her final date.
*Plus she is gaining ANOTHER day by stating she can do the inspection in the evening of the wednesday.HELP!!
Cindy,
Unfortunately these things happen. I have been down this road before with tenants so here is what I did after contacting Residential Tenancy Agreement board. Yes I get an emergency hearing to remove my tenant. The court ruled they had to go. Like you they asked for an extra day which I provided. I got clear advice from the authorised board if they were not ready to go by the scheduled time 1) Put their stuff in storage 2) change the locks 3) if you are nervous of them have an official representative with you. You are legally entitled to take these steps & don't be scared to call her bluff
We have previously invested in low income areas & will no doubt again.
A lot of the areas everyone has indicated are great places to look at.
My only comment would be is to clarify through searches that whilst the area may be low income it isn't due to a high unemployment rate. You want to have any investment property to obviously have tenants that are paying on time.
Be careful if the home you are looking at is in an area that relies predominantly on tourist trade as you may run into problems with payment reliability.
Hi Bell,
Can't agree with Terry & Paul more. You MUST have this drawn up correctly for your protection.
You will require an Option Agreement or a Licence to Occupy, RTA lease form 18a, current residential contract (for unit under body corp specific). There will be other paperwork as well to put in place & it is imperative that you get it right. These are the bits of paperwork that if things go sour can save your bacon in a small claims court.
