Just some FYI following up from my post a few weeks ago about tenants giving notice and refusing to sign new lease.
We had the first open house last Saturday, 10 people through, 3 applications on the spot, 2 filed later that day via email. Selected the new tenant on Monday and deposit paid Monday evening.
New lease is a 4.6% bump (not an annual increase as the last lease was signed about 18 months ago) but its interesting to see no lack of demand for what is a nice inner west (Petersham) 2br apartment with a small courtyard area out back but nothing spectacular eg it has a gate in the rear that leads onto the park (new tenant has a young child) and has high ceilings but realistically could use a paint and new bathroom but considering its an average apartment to have 50% of viewers submit an application, seems like a pretty big demand for a 20 minute inspection.
Not sure if I should be concerned people are being priced out of buying and forced to rent……or thankful that we sacrificed earlier in our lives to invest in property…..(and its all going to come crashing down sooner or later-lol).
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