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I hope you are not the PM for this property in Sydney for Auction..

Discussion in 'Property Management' started by Pumpkin, 30th Jun, 2016.

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  1. Pumpkin

    Pumpkin Well-Known Member

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  2. mrdobalina

    mrdobalina Well-Known Member

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    $180k clean up costs? Lol

    I don't understand how the bailiff can auction off the property based on monies owned by the tenant, and not the owner???
     
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  3. Depreciator

    Depreciator Moderator Staff Member

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    Tenants? They own the property and have done for a long time I recall.
     
  4. mrdobalina

    mrdobalina Well-Known Member

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    Sorry, I thought I read it was tenanted.
     
  5. Perthguy

    Perthguy Well-Known Member

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    I think people get the idea they are tenants because of the misuse of the term "evicting" in the article. You "evict" tenants, not owners.

    The house is owned by Mary Bobolas and her adult daughters Elena and Liana, who bought it in 1970 for $25,000. It was expected to sell for between $1.5 million and $2.5 million.

    While the responsibility for evicting the family might put some buyers off, agents felt that others would see the enormous potential of the 550 square metre land holding, with one neighbour on the same street having subdivided his block and built two semi-detached houses on a similar sized lot.
    Hang on a sec. "Evicting" might be the right word. If you are the owner, they would technically be squatters. Do you evict squatters?
     
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  6. Xenia

    Xenia Adelaide Property Manager Business Member

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    Seems like a repossession for finance purposes not a lease termination eviction.
     
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  7. wylie

    wylie Moderator Staff Member

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    From reading it (from a different site today) it is the council recouping the $180K they've spent from clearing the junk on numerous occasions. It was suggested these women (mother and two adult daughters) had relatives who were giving them money to stave off the auction process.
     
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  8. Xenia

    Xenia Adelaide Property Manager Business Member

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    Oh wow
     
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  9. Pumpkin

    Pumpkin Well-Known Member

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    Oh wow 2!
     
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