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  1. Askaria
    Post

    Purchased brand new commercial property with tenant in Adelaide,now more than 1 month’s rent unpaid

    You’ve got a point. At any time, my rights and benefits should not be compensated. It is an investment and it should generate profit, not problems.
    Post by: Askaria, 15th Feb, 2018 in forum: Property Management
  2. Askaria
    Post

    Purchased brand new commercial property with tenant in Adelaide,now more than 1 month’s rent unpaid

    Thanks a lot for your advise. Your experience is very valuable. The tenant is going to meet up with my PM and I’ll see how it goes. There are a...
    Post by: Askaria, 14th Feb, 2018 in forum: Property Management
  3. Askaria
    Post

    Purchased brand new commercial property with tenant in Adelaide,now more than 1 month’s rent unpaid

    No. Unfortunately :(
    Post by: Askaria, 14th Feb, 2018 in forum: Property Management
  4. Askaria
    Post

    Purchased brand new commercial property with tenant in Adelaide,now more than 1 month’s rent unpaid

    That’s if I’m going to sell the property to someone else, my management agreement with the PM agent terminates. It is up to the new owner or...
    Post by: Askaria, 14th Feb, 2018 in forum: Property Management
  5. Askaria
    Post

    Purchased brand new commercial property with tenant in Adelaide,now more than 1 month’s rent unpaid

    Oh I see. I can try but it’s unlikely :(
    Post by: Askaria, 14th Feb, 2018 in forum: Property Management
  6. Askaria
    Post

    Purchased brand new commercial property with tenant in Adelaide,now more than 1 month’s rent unpaid

    The tenant is going to meet up with my PM this afternoon and he’s gonna receive a warning( or reminder or whatever) to pay the outstanding rent+...
    Post by: Askaria, 14th Feb, 2018 in forum: Property Management
  7. Askaria
    Post

    Purchased brand new commercial property with tenant in Adelaide,now more than 1 month’s rent unpaid

    Hahaha, the tenant is in breach of lease for sure and I can act my legal right to get rid of him. My 5 year management agreement with the PM agent...
    Post by: Askaria, 14th Feb, 2018 in forum: Property Management
  8. Askaria
    Post

    Purchased brand new commercial property with tenant in Adelaide,now more than 1 month’s rent unpaid

    The agreement is made between me and the PM agent. It doesn’t include the tenant.
    Post by: Askaria, 14th Feb, 2018 in forum: Property Management
  9. Askaria
    Post

    Purchased brand new commercial property with tenant in Adelaide,now more than 1 month’s rent unpaid

    The agreement is made between me and the PM agent. It doesn’t include the tenant.
    Post by: Askaria, 14th Feb, 2018 in forum: Property Management
  10. Askaria
    Post

    Purchased brand new commercial property with tenant in Adelaide,now more than 1 month’s rent unpaid

    Oh sorry! It was the rent ratio. I don’t have a loan for it. Borrowed money from my parents to pay it out.
    Post by: Askaria, 14th Feb, 2018 in forum: Property Management
  11. Askaria
    Post

    Purchased brand new commercial property with tenant in Adelaide,now more than 1 month’s rent unpaid

    Oh dear~
    Post by: Askaria, 14th Feb, 2018 in forum: Property Management
  12. Askaria
    Post

    Purchased brand new commercial property with tenant in Adelaide,now more than 1 month’s rent unpaid

    I guess that’s my lesson learned :( The agreement terminats when the term expires; the property is destroyed; both parties agree in writing to...
    Post by: Askaria, 14th Feb, 2018 in forum: Property Management
  13. Askaria
    Post

    Purchased brand new commercial property with tenant in Adelaide,now more than 1 month’s rent unpaid

    Luckily I don’t. Borrowed money from my parents to pay it out. The loan term is very flexiable.
    Post by: Askaria, 14th Feb, 2018 in forum: Property Management
  14. Askaria
    Post

    Purchased brand new commercial property with tenant in Adelaide,now more than 1 month’s rent unpaid

    Oh, it’s 6.25% net.
    Post by: Askaria, 14th Feb, 2018 in forum: Property Management
  15. Askaria
    Post

    Purchased brand new commercial property with tenant in Adelaide,now more than 1 month’s rent unpaid

    Thanks for all the advise. I don’t know whether the bank guarantee would have transferred to me atomaticly as the new owner. I will ask my PM...
    Post by: Askaria, 14th Feb, 2018 in forum: Property Management
  16. Askaria
    Post

    Purchased brand new commercial property with tenant in Adelaide,now more than 1 month’s rent unpaid

    Sorry, I’m very new to the realestate world. What is LVR?
    Post by: Askaria, 14th Feb, 2018 in forum: Property Management
  17. Askaria
    Post

    Purchased brand new commercial property with tenant in Adelaide,now more than 1 month’s rent unpaid

    There are only 5 Shops at this complex and mine is the smallest. One allotment is still on sale which is a huge retail/ commercial. The other 3...
    Post by: Askaria, 14th Feb, 2018 in forum: Property Management
  18. Askaria
    Post

    Purchased brand new commercial property with tenant in Adelaide,now more than 1 month’s rent unpaid

    The tenant has a $5000 bank security which could cover the rent and fees at this stage. I have signed a management agreement with the agency...
    Post by: Askaria, 14th Feb, 2018 in forum: Property Management
  19. Askaria
    Post

    Purchased brand new commercial property with tenant in Adelaide,now more than 1 month’s rent unpaid

    Yes. But only the property insurance and public liabilities, not LL insurance to cover rent loss. I can’t get it arranged now due to the back...
    Post by: Askaria, 14th Feb, 2018 in forum: Property Management
  20. Askaria
    Post

    Purchased brand new commercial property with tenant in Adelaide,now more than 1 month’s rent unpaid

    I guess you’re right. Good things don’t always happen to good people. Lessons need to be learned and it shouldn’t be me. BTW, thanks for replying...
    Post by: Askaria, 14th Feb, 2018 in forum: Property Management
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