Hi investors My partner and I live in Sydney. We own a property in another state. The landlord of where we live has advertised our property online by an extra $20 a week. Our lease is due to expire in 7 weeks. Do you think they are doing it to see if they can justify a price increase for us? Or genuinely want other tenants? Seems weird not to tell us. They just sent an email asking us if we want to stay here, so I was looking at comparable units in the area because we thought we could justify asking for a rent reduction. I know this isn't necessarily an investing question, but thought that you might be able to give an insight to why the landlords are advertising online. Thanks in advance.
That is really odd, particularly given they need 90 days notice at the moment in NSW, even at the end of a lease. Could they have listed your unit by accident or there was a mix-up? I would ask your property manager to see what they say.
And also put in an application offering $70 a week less, as the resi rental market is supposedly taking a big hit. And see if they accept.
I actually think it seems as if it either a mistake or a clever move on their part, although I do not know the NSW rental rules. Putting Covid aside, if you were on a fixed lease you would be obliged to notify your intent 4 weeks prior to the end of the Lease otherwise it reverts to Periodic. The Landlord may be “testing” the market prior so they can make an informed choice prior to the end of your lease. Also, you seem as if you may now be back pedalling on asking for a rent reduction having seen the ad, so in that regard alone perhaps it is a smart move?
That's a bit rude. I'd be trying to dissuade any prospective tenants on open days. Yep. time for the budgie smugglers to slip out of the top drawer. lol.
When does the advertisement say the property will be avaliable? That might give some insight. Regardless, I cant think of anyone who would bother advertising a property for rent that wont actually be avaliable for 7 weeks so I'm leaning towards an error. It is because of that I doubt they are testing the water on price - who on earth would be enquiring that far ahead of time in the first place?
@Shanny you said the landlord has advertised the property (not the RE/property manager has advertised the property). So it sounds like your landlord/owner is self managing, correct ? I'd be inclined to ignor everything and let it roll onto a periodic lease As the landlord likely doesn't know the rules very well This will mean you have some homework, go read the rules around tenancy and notice to vacate, knowledge is power (and Google is the tool to learn). Unless the landlord presents you with a new lease agreement then they aren't serious Until they serve you with notice to vacate you have time on your side, use it wisely
Thanks for all your replies. We are renting through a property manager. I called the property manager and they said it was all a misunderstanding. And they took the ad down. We are going on a periodic lease
