I was supposed to settle on a house yesterday. One of the subject to, was agent to arrange a 12 month lease with current tenant to which im paying him 10% of 12 months rent, That does not include property management, as they don’t offer that.
Well every time I contact the agent they say, they haven’t got the contract done yet, but will get back to me when they do.
Well the day after the settlement date and I still haven’t heard anything.
I have also used a builder recommended to me by the agent for inspection and waiting on specific quotes.
What would u do?
Regards Bear
Bear
I would try getting the contract altered to give more time. If this is not possible you may have to decide if the lease is that important to the decision to buy or if getting another tenant would be little hassle. If this is the case you may want to go ahead and settle anyway else pull the plug now. If you do decide to pull the plug, do it through your solicitor and all in writing.i know the tenant wants to stay, i have spoken to him and he panicked when i said i wanted to buy it that i may change tenants. I think its just slackness on the agents part to which im paying good money for and losing money actually while im delaying the settlement
Regards Bear
Give the agent a deadline and if he doesnt meet it get another agent!
Looks like you got nothing to worry about if the tenant has said he is keen to stay. Ask the agent why a lease has not been signed esp if its been 60 days or something since you signed the contract.
If its just been because the agent is slack, then proceed. If the agent has been telling you porky pies and you dont think its that easy to get another tenant, then dont settle. But surely (based on your posts – you surely did) you did your research before making an offer. Then just settle.
Settle the contract, sign the tenant up yourself and keep the 10%.
Here in NSW you can buy a lease from the newsagents.
Cheers,
Simon Macks
Mortgage Broker
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Originally posted by HousesOnly:Give the agent a deadline and if he doesnt meet it get another agent!
Only one agent covers this area.
Hi Bear,
Perhaps you could get your solicitor to draw up a lease agreement. Or maybe find an agent that offers property management and get them to do it.
I don’t know where the prop is but a lease agreement is usually a set form isn’t it? This really shouldn’t take long to organise.
Cheers,
Sue [
]“Be careful not to step on the flowers when you’re reaching for the stars”
I agree Mortagage Hunter , but im in SA the property is in Tassie and i was having trouble tracking down the papers, so i just thought it would be quicker and easier to give it to the agent.
How wrong i was ……..LOL, i dont think any thin shonky is going on tho , its just they seem very laid back there……….LOL
Regards Bear
Thanks Simon,
I thought it was simple, you must have posted while I was still typing !(very slowly [])
Sue“Be careful not to step on the flowers when you’re reaching for the stars”
i like what simon said
Bear, why don’t you ask the tenant to chase down the Real Estate Institute of Tas standard lease. Then you could sign up the lease with them yourself. Either give them a discounted rent, or pocket the 10% yourself like Simon said.
Cheers
MelGreat idea mel, i didnt think of that, i will contact him tomorrow if i dont hear something from the agent. I know the tennent works 12 hour days and money isnst an issue for him so he may not want the troubles, but worth a try.
Regards Bear
Hey Bear
How did you go? Is the tenant all signed up, and everybody happy?
Cheers
MelHi Bear,
There’s no way I’d be paying out 10% to some country hick RE Agent, to do something that I could do.
Ring the RE Institute in Tas, or use a solicitor. I know you are in SA, but it’s amazing what you can do by using faxes, email etc..
Just don’t accept that 2nd rate treatment from the RE Agent. He does not deserve it!
Don’t find reasons why you can’t do it, find reasons why you can!
Good luck,
Del
]
])
You must be logged in to reply to this topic. If you don't have an account, you can register here.
