Tenant is offering more rent to increase number of approved occupants. Legal?

Discussion in 'Property Management' started by legallyblonde, 22nd Jul, 2016.

Join Australia's most dynamic and respected property investment community
Tags:
Page 2 of 2
  1. kierank

    kierank Well-Known Member

    Joined:
    20th Jan, 2016
    Posts:
    8,415
    Location:
    Gold Coast
    @Gockie, I was very impressed when I read this.

    Now not quite so impressed :) :)
     
    kierank, 23rd Jul, 2016
    #21
    jim1964 and Gockie like this.
  2. Gockie

    Gockie Life is good ☺️ Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    14,793
    Location:
    Sydney
    Hehe..... i'm not completely avoiding taxes! Suppose if every property I owned was sufficently negative then my taxable income could hit zero... its not though.
     
    Gockie, 23rd Jul, 2016
    #22
    kierank likes this.
  3. Ed Barton

    Ed Barton Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    2,229
    Location:
    Brisbane
    Probably.
     
    Ed Barton, 24th Jul, 2016
    #23
  4. legallyblonde

    legallyblonde Well-Known Member

    Joined:
    22nd Jun, 2015
    Posts:
    858
    Location:
    TAS
    The tenants consider it a "huge favour" . They are really happy.
     
    legallyblonde, 24th Jul, 2016
    #24
    Tom Rivera and Gockie like this.
  5. Ed Barton

    Ed Barton Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    2,229
    Location:
    Brisbane
    I'm not judging your decision, simply answering someone else's question.
     
    Ed Barton, 24th Jul, 2016
    #25
  6. Special order

    Special order Well-Known Member

    Joined:
    7th Jul, 2015
    Posts:
    210
    Location:
    Nsw
    rentals in hobart are super tight. They probably just want to do the right thing
     
    Special order, 24th Jul, 2016
    #26
  7. legallyblonde

    legallyblonde Well-Known Member

    Joined:
    22nd Jun, 2015
    Posts:
    858
    Location:
    TAS
    Thought I should update you all about how everything is going. Tenants signed a new lease at $100 higher for a period of six months. All is going well. Hopefully the new tenants build will take FOREVER and they stay for ages. If not, rent will be reduced back to the previous rate and it looks like they are wanting to stay for life! They are all really happy!
     
    legallyblonde, 25th Sep, 2016
    #27
    luckyone, Dean Collins, Perthguy and 6 others like this.
  8. D.T.

    D.T. Specialist Property Manager Business Member

    Joined:
    3rd Jun, 2015
    Posts:
    9,190
    Location:
    Adelaide and Gold Coast
    Great news, well done. Sometimes being practical is most rewarding
     
    D.T., 25th Sep, 2016
    #28
    legallyblonde likes this.
  9. Azazel

    Azazel Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    8,091
    Location:
    Brisbane
    Good stuff, well done.
    I think that sounds like a fairly reasonable amount.
     
    Azazel, 26th Sep, 2016
    #29
    legallyblonde likes this.
  10. Big Will

    Big Will Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    2,517
    Location:
    Melbourne, Australia
    Win - win for everyone :)

    Well done
     
    Big Will, 26th Sep, 2016
    #30
    D.T. and legallyblonde like this.
  11. Susan

    Susan Member

    Joined:
    27th Jul, 2015
    Posts:
    9
    Location:
    NSW
    Thanks for updating. Love a good update (especially when it's good) :)
     
    Susan, 6th Oct, 2016
    #31
    legallyblonde likes this.
  12. legallyblonde

    legallyblonde Well-Known Member

    Joined:
    22nd Jun, 2015
    Posts:
    858
    Location:
    TAS
    Well I am pretty pumped. They just extended the lease for another couple of months. So in total they will have been paying the higher rent for 10 months =) So approx 4.4k extra rent. Tenants are all happy family!

    Rent will return to regular soon =)
     
    legallyblonde, 13th Jan, 2017
    #32
    luckyone, Perthguy, Pixie and 6 others like this.
  13. ellejay

    ellejay Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    2,192
    Location:
    Kimberley and NZ
    Nice good news story. Congrats :)
     
    ellejay, 13th Jan, 2017
    #33
    legallyblonde likes this.
  14. legallyblonde

    legallyblonde Well-Known Member

    Joined:
    22nd Jun, 2015
    Posts:
    858
    Location:
    TAS
    Update: Just signed another 6 month extension on current terms! 26 weeks at $100 a week... Makes me very happy... The tax man will be pretty happy too ;)
     
    legallyblonde, 21st May, 2017
    #34
    luckyone, Perthguy, Gockie and 3 others like this.
  15. MyPropertyPro

    MyPropertyPro REBAA Buyer's Agents Sutherland Shire & Surrounds Business Member

    Joined:
    1st Jul, 2015
    Posts:
    1,894
    Location:
    Australia
    Well done! Results like this are a great read!
     
    MyPropertyPro, 21st May, 2017
    #35
    legallyblonde likes this.
  16. legallyblonde

    legallyblonde Well-Known Member

    Joined:
    22nd Jun, 2015
    Posts:
    858
    Location:
    TAS
    16 months later...

    Extra tenants are moving out at the end of the month.

    Existing tenants have resigned at previous rent rate (which was previously MV but is now a bargain). Extra tenants are extremely grateful, they commented on how ludicrously expensive renting in the area is now. They even got me a little thank you present.

    Could get another 40p/w comfortably but my tenants have been brilliant to date. I self manage and really appreciate how easy they make my life!
     

    Attached Files:

    legallyblonde, 18th Nov, 2017
    #36
    luckyone, Big Will, Perthguy and 3 others like this.
  17. Xenia

    Xenia Well-Known Member

    Joined:
    16th Oct, 2015
    Posts:
    3,863
    Lol you are allowed to do whatever you want and owe no one an explanation.
     
    Xenia, 18th Nov, 2017
    #37
    legallyblonde likes this.
  18. Xenia

    Xenia Well-Known Member

    Joined:
    16th Oct, 2015
    Posts:
    3,863
    That’s great, I would take it too.
     
    Xenia, 18th Nov, 2017
    #38
    legallyblonde likes this.
  19. Big Will

    Big Will Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    2,517
    Location:
    Melbourne, Australia
    @legallyblonde I must of missed the deposit into my bank account but I am sure it is there :p.

    Well done on getting a truck load of extra cash :)
     
    Big Will, 20th Nov, 2017
    #39
    legallyblonde likes this.
  20. Tom Rivera

    Tom Rivera Property Manager Business Member

    Joined:
    1st Jul, 2015
    Posts:
    2,718
    Location:
    South East Queensland
    If those tenants ever want to move up to Brisbane, you make sure you send me their details! What a dream!
     
    Tom Rivera, 22nd Nov, 2017
    #40
Page 2 of 2
Property Tax Specialists – Enquire Today

Price Accounting provide investor + developer tax services world and Australia wide for your property and all tax issues. Contact Paul@PFI below for our new client pack and quoted pricing + client portal access. Trusts, Co and SMSF are our specialty.