Any Landlords/renters for some info please.

[alecrain]

Originally Posted by jaydee

Thinking of buying it, be a great start for my teenage kids later. Would rent it out for the time being.

Question is, is it too close to home?

I wouldn't worry about the renters, think about your kids, they would end up living too close to their parents- some would say that that is even worse then living with parents.

[jaydee]

Originally Posted by alecrain

I wouldn't worry about the renters, think about your kids, they would end up living too close to their parents- some would say that that is even worse then living with parents.

Not when you have a daughter, at least I'd know when she gets home and who comes around to date her and if i don't like 'em I can slash their tyres and put sand in the fuel tank. : :

[jaydee]

Well we put in an offer and it was accepted so we'll see how things work out.

I'm pretty sure I'll get an agency to manage it just so I can keep it at arms length.

Thanks to all those that offered tips and ideas.

[efgiar]

i am renting and the biggest thing that pees me off is we have no contact to the landlord, he owns multiple propertys in the area and only repairs enough to keep it leagle, eg, carport had tree roots pull up the concrete 2 years ago, ripped a post from the carport itself, its still like that because the house doesnt require a car port. dishwasher leaks water, so you cant use it, but he can still advertise it has a dishwasher in the house, the list goes on. if i owned a property next door i would tell them and repair as needed as soon as possible, because i know what its like, but thats just my opinion, and congrats on buying it, i think ill wait untill i have good money and the house markets crash before i buy :P

[ebxr8240]

If you do your own management you still have to obey the rental laws...
They can still take you to tribunal as well..
Have it insured for malicious damage , covers all damage...

[sbutler]

Originally Posted by ebxr8240

If you do your own management you still have to obey the rental laws...
They can still take you to tribunal as well..
Have it insured for malicious damage , covers all damage...

There is NO rental laws. There is MY law, in MY house/unit.
They can still go to the tribunal.. Nar that wouldnt do them much good. They need grounds for the matter to be heard. If they have damaged or are owing rent, its a bit hard to convince the judge to rule in there favor.

[OUOTE]There will be no tennets tribunal, no negoatations, no excuses. Their stuff will be thrown out on the street & the lock changed.
This will let them know were they stand.[Quote]


I agree with the insurance cover. But if you use you powers of obsavation/gut feeling, you can tell what most people are like.

Be proactive with your tennets. They are living in your home, make friends with them. Give them a call from time to time & see how things are going. Ask how they are going, do they have any problem with the house/unit.
Thats what being a landlord is about, not just money.

[ebxr8240]

I don't have issues with my tenants. They have my mobile phone number..
But I still have to abide by rental laws...
Strange the only tenants I had to take to court were two police officers..
They just moved out !! Leaving old court papers [warrants] with people name on them, clothing, rubbish everywhere.. The real estate took photo's..
I was overseas at the time and lost 6 weeks rent...
I got 6 weeks rent off them plus 21 days notice..
The court [tribunal] payed me.. They had to pay tribunal..
Thank goodness I had real eastate looking after it as they rented it out as soon as they found out...All tax deductable anyway.. I live too close to do it myself.. Its funny when I go there to do repairs.. They don't know I'm the landlord..
They think I'm just the "poor" old handyman!!!
I always go there in my work truck also....