spoilt brat

I misread and agree with what you have said.

 

balwoges said: ↑
I am so thankfull I vowed never to take on residential tenants again when I left Sydney, commercial tenants are so much easier to manage

See Change said: Main issue with commercial is the potential duration of vacancies . A well located IP is always rentable .

Well located commercial not always .
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I agree with you, however I had 12 small industrial units in the same place - units were leased using a Commercial Lease, if they were more than 14 days late with their rent + another 7 days they were OUT, also couldn't do much damage to the property, in fact during the 25 years I had them only had 2 incidents of damage which the tenants fixed quickly and never more than 2-3 units vacant at the same time, which meant I wasn't relying on the rent of just one tenant.

 

why would they have to move again if they had a fixed term lease?

 

Fruit basket anyone?

 

Great bag of fruit @Biz

 

But isn't that what's happening anyway-stuff the tenant?

Xenia will still get the listing, but in two months time after the tenant no longer has the ability to exit the lease without penalty.

So win win for Xenia, lease and sale... Tenant isn't aware she's about to be screwed over and owner oblivious and doesn't sounds like he doesn't care.

I would have been up front with tenant even if it meant losing the 'valuable lease'.

 

how is the tenant about to be screwed over? has he/she not got a fixed term lease which means they are perfectly entitled to stay in the property despite its sale?

are things different in SA?

 

Yes @sanj - the tenant has a right to break the lease without penalty if it is listed for sale within the first two months, if it is after that period there is no easy exit.

 

sure but how is the tenant going to be screwed over if it is sold after that initial 2 months and he/she can still stay there for the duration of their lease?
granted the viewings etc will be an inconvenience but that is a possibility with any lease. am i missing something?

 

It's the viewings I'm talking about.. Strangers traipsing through your property ... If my pm knew in advance of me moving in that this was going to occur and didn't tell me, I'd be ******.

Sounded like the owner was ok with selling, even if coerced by granddaughter.. Why not give the tenant the option up front... Answer was because the lease is valuable.

 

How dare you!
It's less about the brat, and more about the enablers.

 

I know hey

 

Correct

 

That's good.....still a pain for you though.