hi there
I have just signed a contract on some flats. The owners, in their 80’s had managed the flats themselves and had the rent at well below market value.Now I have to give 2 weeks notice to put up the rent. Can I give the tennants notice of this during the contract period? Perhaps when it goes unconditional? Or do I have to wait the 30 days contract till the flats are legally mine before I contact the tennants?
Hi Milly
It may be a little late now but I would have made it a condition of my offer that the vendors increased the rental on all units by $x on exchange of contracts.
If you have a good relationship with the vendors, ask them if they mind if you write up a letter which they can authorise, increasing the rent. Can’t get shot for asking
Cheers, Paul
Paul & Karen Dobson
negative2positive
Turn your negatively geared property into positive cashflow.
Phone: (02) 4984 9540Talk to us about Wrap Training Joint Ventures.
Paul Dobson | Vendor Finance Institute
http://www.vendorfinanceinstitute.com.au
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Hi
http://www.thelandlord.com.au is an excellent site to help you run and manage your own property .It has all this sort of info to help Landlords who run their own property.a big smoochie MWAHHH to you. This site is fantastic for me as I intend to now handle all my properties.
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