We had what I still think was the perfect tenant. Our IP is managed so we dont see inside the IP that much. One day we went and I could not believe how well our tenant was treating our house. I thought this is the pefect tenant. The house was spotless.
Then she re signed for another 12 months which we were very happy about. After 2 months she decided to break her lease and re unite whith her husband and leave our house she so lovingly cared for.We viewed the house after she left and you would think no one had lived in the house! She also had two children living with her.
New tenants have now moved in!
Does anyone else have or had a perfect tenant?Hi Kate
I think I have a perfect tennent in one of my IPs he works for the council and loves gardening and landscaping, he has absolutly transformed the front & back yard puting watering systems in, new grass, plants etc and high pressure cleans all the concrete as well.
He found some paint in the shed left by the previous owner and asked if he could paint inside as it was a bit old looking. I said ok and he has done a fantastic job and keeps saying he wants to live there forever. Now and then he is a little late with a rent payment but I think I can forgive him for that.
His wife keeps the inside very clean also and the kids treat the place with respect so I think I am a very lucky landlord.[biggrin]Dave
Hi Kate2006,
We too are lucky with one of our IP’s, the guy that moved in is a horticulturist needless to say the gardens have had more plants added old ones trimmed the watering system has been upgraded and extended he also noticed the garden shed floor was rotting and requested some sand which I supplied and he then layed pavers in the shed and stepping stones to new garden area.
He also replaced the step, painted the balcony with leftover paint we had in the shed. We did an inspection and he mentioned the door needed new rollers and asked if we would buy rollers he would install. I asked why they were not using the clothesline and wife said some of the clothesline left rust on clean clothes.
I went to Bunnings and bought rollers, new clothesline cement and $100 gift voucher for them to use on anything they want. They were very grateful and I know that he wants to stay at my property for along time. Only too happy to send them a gift voucher to say thanks for all that they have done for me..but I know he is one of those people that loves to be doing something around the home and I am lucky it is my house that is taking advantage of that.[biggrin]
Cheers
Jenny1
Hello chaps.
We managed to snare a good’n a couple of months back. In fact today is his anniversary, he has been in there for 2 months.
During that two months it’s looked like a bit of a construction site – well in fact it is…..he’s completely gutted one of our units, lifted the roof off, replaced the structural components with larger and longer I beams….afixed the roof back on…..fixed up the wonky driveway…..poured about an acre of black bitumen over the ground (looks like a shopping carpark now – fantastic) and has replaced the wonky tiltadoor with a brand spanker.
Secured another unit on site with new doors, new locks, bars and grills to the windows, taken over the security system and replaced the front gate.
Put up surrounding fence to secure his business and painted the whole 5 other units he has access to. He’s had an army of tradesmen and his own workers in there slaving away for the last two months.
He’s spent about $ 50,000.00 so far doing my place up while I’ve been overseas. I fly back into the country tomorrow and have a meeting on site with him so he can give me an update report.
He reckons by email he should have the place fully up and running with another 2 months work and another $ 40,000.00 of reno’s. Aparrently he wants to put up another big shed and then landscape the whole 2 acres to ‘beautify’ the place. My only job is to approve the improvements and give him the official go ahead…..I’m finding it a tough task, but then someone has to do it.
In exchange for doing this, he twisted my arm during the negotiations and agreed to sign up and lease the property for 15 years, with a commencing rent yield of 10.25% rising to about 19%, and on top of that pay for all of $ 11,000 p.a. outgoings on my property.
It was a tough decision of course, but I reluctantly agreed to the terms. We get the property back in 2021, and we’ve agreed he has to leave everything that he installs and upgrades.
During his reno so far, the rent received from him is fully covering the 100% mortgage we have on the place, plus the surplus is paying off the negative shortfall on 3 of our dreadful residential leases.
All up – he’s OK for a rubbish skip collector…..and the discounts on the skip bins we need for further acquisitions are a nice side benefit.
I tried lumping 90K reno’s on my residential tenants, but for some reason they won’t agree…..something about…..what’s in it for me ??
Cheers guys.
Dazzling,
I just hate it when you trump me yet again! [biggrin]
Good luck to you I know that your rough diamond is shining infact when you get back you will need your sunnies on to keep all of that glare out of your eyes.[biggrin]Welcome back to Oz
Take care
Jenny1
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