Brisbane middle ring vacant, want tenant short stay. options?

Discussion in 'Property Management' started by Sackie, 14th Aug, 2018.

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  1. Sackie

    Sackie Well-Known Member

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    What are my options...

    I have a house in middle ring Brissy about to be demolished to develop, but not for another 2-3 months. tenants just gave notice to move (dam) so I have 14 days then its empty. Was renting for $510 a week. I am happy to rent it for 250 a week for short stay until it gets demolished. Its in good condition, 3-4 bedrooms.

    Do I have any good options here... or just suck it up and let it be empty for 2-3 months?

    Place is in Holland Park.
     
  2. Pumpkin

    Pumpkin Well-Known Member

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    Ask your current Tenants to stay and give them discount?
     
  3. Sackie

    Sackie Well-Known Member

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    That's was the first thing I did. Unfortunately they already found a place. They are moving because they want the security of a longer lease which is understandable (it was periodic because I knew I was gonna develop it).
     
  4. wylie

    wylie Moderator Staff Member

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    For the sake of $4.4k for two months (or a bit more for three), I'd leave it empty.

    What happens if you put someone in and then have trouble moving them on?

    You'll have trouble renting it short term unless you can score someone renovating or needing short term for a specific reason, but you still risk them not leaving when you need them to leave.
     
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  5. Sackie

    Sackie Well-Known Member

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    Yeah that's my worry. ..more potential downside then upside really .
     
  6. ChrisDim

    ChrisDim Well-Known Member

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    You won't be able to find a tenant through traditional channels and you are risking getting yourself into more trouble that it is worth anyway as @wylie is suggesting...

    Now... and I don't want to stress you anymore than you are already going to go through with your upcoming development... is "2-3 months" what your builder is telling you? because in my experience, that is build code for 3 to 4 months! sometimes longer! :mad:
     
  7. Gockie

    Gockie Life is good ☺️ Premium Member

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    Give it to a local person (that you trust) to Airbnb it? Or a person you trust to lease it at a discount?
     
  8. Sackie

    Sackie Well-Known Member

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    It will most most likely be 3 months but i know anything is possible . Still, too risky i think to get ppl in for a few months ...
     
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  9. Sackie

    Sackie Well-Known Member

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    Thought about it but id have to spend money to make the place Bnb standard...probably more hassle ..

    I think the best may be gumtree but like others have said ...if they refuse to move out etc..could be a disaster . Hmm i think i may just suck it up
     
  10. Tom Rivera

    Tom Rivera Property Manager Business Member

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    I've seen people have plenty of success offering a cheap short term lease, but as has been mentioned- the risk of people not moving out could cost you significantly more than the rent you'll get. What a pain!
     
  11. wylie

    wylie Moderator Staff Member

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    Thinking outside the square... could you offer to store a boat, trailer, caravan short term? You could possibly build into the contract that should it not be removed by "date" then you have the right to tow it onto the street (if that is legally ok).

    The income from this also may not be worth the risk though.

    I know two people who are doing this. One is renting garage space to a builder for storage of tools etc. The other is renting a concrete slab in her yard to a neighbour who is storing his boat there.
     
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  12. Big Will

    Big Will Well-Known Member

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    Kind of sucks but no real options I could see that hasn't been mentioned.

    Short 'normal' rental - going to be hard because also there is moving costs involved so easier if you furnish it but then extra costs likely not going to add up.

    Airbnb - however you would need to furnish it again probably not worth it.

    Storage rental - low $$ for such a short term but could be a consideration - if it was a longer period it might be perfect for someone who is building a house and were thinking of just renting a small unit and putting their stuff at a traditional storage.

    Car park rental - not sure where the property is but if need shops and there is parking restrictions maybe talk to some local businesses and say for $100 p/w (works our $20 a day/5 day week) and they can park the car there... Saves them moving their car every hour or two (depending on time limit). Could also work for communting people but harder to source and less income as $20 a day they might be able to get early birds in the city.

    Red light - put some red lights up and some beds in each room and rent the rooms out by the hour - just make sure the red and blue lights don't find out!
     
  13. Sackie

    Sackie Well-Known Member

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    Sorry missed this post.

    Interesting options.. I may try to peruse this avenue. Thanks K.
     
  14. Sackie

    Sackie Well-Known Member

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    haha! Now we're talking... Love that idea :D
     
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  15. dabbler

    dabbler Well-Known Member

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    I would rent it at a slight discount, not half or whatever, specifically to someone wanting something short, you have people who may have a work project up there needing it, or people moving to area who want to buy, say from Syd......I know someone going up there in a couple of weeks, but they are going to GC area not Bris

    Look around and see if any events on close by, how far is it to convention centre etc ?
     
  16. EN710

    EN710 Well-Known Member

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    Rent it out for bachelor party for $$$ - they can trash it because it will get demolished ;)
     
  17. Sackie

    Sackie Well-Known Member

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    Looks like we won't need to rent it out after all because we're gonna start the demo pretty soon! Happy with that.
     
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