Any ideas on how to cancel tenancy?

And is there no cooktop exhaust fan??? Which would aid in peeling the paint faster.

 

Good on you for noticing that....
I was busy trying not to image the smell in there....

 

It’s a hard one. I plan on knock it down in 18-24
Months so I want to spend as little as possible

 

You wanna tell me you'd like to get them out and move in until you knock it down????
Mate.... You're brave!

 

Well I bumped the rent up 25% to market and the tenants have just given 24 day notice. Perfect outcome

 

I'm with Tom! A fixed-term agreement (in QLD) can end earlier but both parties must agree in writing and usually, a sweetener like money helps move that along.

 

I sent a rent increase notice for a 25% increase and theyve given 24 days notice to vacate

 

and now you would like to live there ...

 

After doing a fair bit of work!

 

True, but as most fixed term rental agreements are only 12 months.....
We don't know the details of the agreement in place when you purchased !
How did you get away with proposing a 25% rent increase on a fixed term agreement (yes, WE ALL want to know).

Only to knock it down.....
A bit counter productive !
Are you trying to call it a PPOR prior to developing to avoid tax ???

 

It was a 2 year lease

they’ve been tenants for 8 years so we’re paying well under market

in my early 30s with one under 1 and not quite yet in a position to spend $1-$1.2m on a new build. This will be our PPOR until we can afford to build

Haemorrhaging money renting this out and then renting ourselves.

It won’t cost much to get up to scratch. About $11k