I moved into a new rental property at Christmas time after the last house I was renting for 5 years was sold by the owner. Upon applying for the new property, I asked the agent ‘Does the owner have any intention whatsoever of selling this property in the future?’ The agent answered ‘No, this is their long time investment property’. My application was approved and I was told the lease conditions were for a 12 month period. After I moved in I kept getting calls from contractors wanting to come and do renovations on the house. It had just been freshly painted and re-carpeted and then people were coming to put in brand new blinds and do other minor upgrades. I found this to be extremely strange, as from a property investors perspective, why would you put in any new additions once a tenant had already been placed? Only 3 months into the year, I get a call from the agent saying the owner is going to sell the house. I was horrified as it had been my intention to stay for at least 5 years. The agent assured me another investor would be buying and everything would continue on as normal. After enduring weeks of open house inspections, the agent called me to say that a new owner occupier had purchased it and I have to vacate in 2 months. I asked how this was possible when I had signed a 12 month lease and he said that actually I had only signed a 6 month lease. I feel like I’ve been greatly deceived and I’m pretty pissed off about the whole matter having just spent thousands of dollars buying all new furniture for the property- a 3 storey house and put in so much time and effort to set it up nicely.
Hi there
Sorry to hear – I can imagine it would be extremely frustrating.
If the agent had of known that the property was being resold than yes, I'm with you, it would have been deceitful.
However, there's a possibility that they had no idea that the owners were going to sell up in three months time and were simply conveying the message they'd been given from the owner – than it wouldn't be rented out for the long-term.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
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That is always one of the problems with renting. You should also always check documents very carefully before signing anything. Also when you ask questions especially important ones always get the answers in writing. That would put you in a position for possible legal cation. However if you have nothing in writing and have signed a 6 month lease there is not much you can do.
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From your story, I can still the agent is clearly very doggy to start with.
deceiful points,
1) the agent said this is owner's long term investment will not looking for sale
how can an agent know for sure ! (clearly it's a sale pitch to get you to sign up a lease contract)2)the agent said the owner wants to sell the property
if i was you, I will start to think about exit strategy to move on ( the agent clearly have no ethic to start with full of sale pitch, ie the agent just like money not provide the service)3)the agent said the new buyer is the owner occupier
I will clearly move on ( the agent is showing very clear, about his mind, which is only $ no service no integrity no honesty…..)my answer,
1)review your lease contract, 6 month or 12 month, ( organise and collect all the evidence or documents)
2)look for new property and MUST not be the same agent managing the property ! (ie property must be from different agency)
3)once you settle down, seeking for fair trading, or any sort of legal advice.
4) take any necessary legal action to pursuit your loss.I have to say there are many deceitful agents out there ! extremely doggy, never look after people, only think about money, never provide honest and quality service. disgraceful.
hope everything goes well for you
Pretty much as above – check the lease and your copy of the tenancy application/acceptance.
The selling agent & managing agent may both appear to be xyz franchise but have two different companies ie sales & property management, so less chance of recourse.
I smell a rat!
There are dumb people and there are unlucky people but rarely are there unlucky dumb people. You seem to be one of the latter which makes me really suspicious…
I’ve never known anyone with so many screw ups going on at once.
The Freckle
What does your lease say?
Did you read it before signing?
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
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I would say I am an ‘over trusting people’. I can’t see any capacity in this situation how I could be blamed??
Terryw no I didn’t read the lease when I signed it. I assumed it was a standard NSW tenancy agreement based on the conditions that were already agreed upon via email. The email which approved my application said 12 months. The lease does in fact only state 6 months after I checked it. I usually double check all the terms and conditions before I sign a contract so I really was neglectful in this case. But even so having to move out at Christmas time this year would have also been inconvenient too. I was looking for a long term living arrangement, not temporary accommodation where the owner was intending to get more rental income whilst he was preparing for selling. In fairness it should have been advertised that way. I’ve seen properties advertised which state they are only available for a certain period of time. I think it’s fair to be transparent and honest about such matters.
Well, i bet you will read the lease next time.
I know it must be annoying having to move frequently, but there is nothing to stop a landlord from selling a property and the new owners not wanting to extend the lease.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
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Yep you’re right on Terryw. Some people in the comments above did suggest following through with the matter legally. But ultimately you are correct that there’s nothin’ to stop the owner from selling. And one can’t expect to inconvenience the buyer who wants to take occupancy of their new house.
I don't know what grounds you would have legally. I would just put it down to a unfortunate event and move on (no pun intended).
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
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Yeah I feel like my whole life is real estate. Now I’m spending all day everyday looking at houses online and organizing inspections. To state the obvious; real estate in Sydney inner city is expensive. It’s ironic you can rent a house for 6 months for the same price it costs to buy one is the US.
Plus it is very hard to rent a place now in Sydney. heaps of demand.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
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Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
labradorinlove wrote:I would say I am an ‘over trusting people’. I can’t see any capacity in this situation how I could be blamed??Can’t wait to hear about your next tragedy. Entertaining if nothing else
The Freckle
Why are there so many rude people on this forum ie ‘The Freckle’. People seem to think that they can hide behind their computer and come out with outlandish statements to make them self feel better or something.
They say real estate agents are as honest as used car salesmen!
Hi Scha9799
That comment was kind of out of the blue! Why do you say that? Ive been looking for peoples feedback on Property Secrets (wondering if I should buy through them) – have you had a bad experience?Labrador in love – sorry to hear about your bad experience but as a tenant it is key to remember that all promises made by Landlords and/or Agents are completely irrelevent unless they are written into your lease. I'm not saying this agent did the right thing, sounds like they were misleading or at a minimum not very competant but Ive been a Property Manager for 11 years (an honest one I swear!
) and I can tell you that we dont always know an owners real intentions and secondly, a property that looks like it will be an investement for years to come can all of sudden need to be sold (owners having financial problems, divorce etc), but an experienced PM should have explained to you that there are no guarantees rather than making promises they potentially couldnt keep.If you want a long term tenancy you are best off asking for a 2-3 year lease or a 1 year lease with options to extend – these terms are legally binding, even if a home is sold to new owners. But keep in mind that to secure a long term lease you will probably have to agree to a rent increase written into the lease for each year – otherwise its no longer an attractive offer for a landlord, its give and take.
And ALWAYS read the lease before you sign. I dont think you will have any legal recourse because at the end of the day you only signed a 6 mth lease.
You live and you learn, hope you find a great new long term home soon.
This might be stating the obvious and if so I apologise. I personally know of friends and even relatives who are generally not very careful with what they read and sign, and going through things with a fine-toothed comb is not everyone's forte. If it is too much for you to read ALL the documents before you sign them, then look for a personal friend or relative who you consider to have an eye for detail and see if they can review the article for you.
One of my dad's friends does this. In his old age he is just not as capable as he used to be, and my dad is more than happy to help. In return his friend calls him out for lunch. That's what friends are for.
In this world, the people who are too trusting nearly always get eaten alive by the crooks. The key thing is to never sign (and never spend money on) anything you do not FULLY understand. And for any such official documents, get a photocopy of the document duly signed by yourself, the landlord and witnesses on both sides for your own records and ensure it is exactly the same as the one you originally read. Also, anything major should be lodged or received in writing, even by registered post if necessary.
I find it very disturbing for the agent's email to confirm a 12 month lease and the actual lease that was signed was actually for 6 months.
) and I can tell you that we dont always know an owners real intentions and secondly, a property that looks like it will be an investement for years to come can all of sudden need to be sold (owners having financial problems, divorce etc), but an experienced PM should have explained to you that there are no guarantees rather than making promises they potentially couldnt keep.
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