flag of convenience Posted September 10, 2013 Share Posted September 10, 2013 This either indicates that the property was very cheap to start off with or that he didn't want you there any more for whatever reason. RESOPNSE....No same happened in my street. Indicates greed and an ability to get away with it with a tightening market. Some landlords do repairs quicker than others. These scenarios would not happen in my properties. RESPONSE.....It does indeed happen but when I rented I took away the cost from the rent and it was accepted. That was before the crunch though.... Should a landlord therefore question the integrity of a tenant who is offering less than the market rate? :biggrin: BB RESPONSE....No reason why a tenant shouldn't especially if offering services in lieu of rent. Quote Link to comment Share on other sites More sharing options...
buzzy--bee Posted September 10, 2013 Author Share Posted September 10, 2013 what you really want is good long term tenants who will look after your property while making a bit of a profit.maximum profit will drive a good tenent out due to the higher cost compared to others in the market. Maximum rent means positioning your property correctly in the market. Not driving out good tenants. Offering a higher rent is rubbish why? If a tenant really wants a place and there's several applications, this could be one way to get the property you want. In some areas of Australia there are many more tenants than there are properties available. The worst is getting sh*t heads who either wreck the place or stop paying/cant pay and then you have to pay to get them out. - Yes I have one of those at the moment and it will cost me at least $1000 in insurance excesses alone. One other tip is to be swift about fixing things even if they seem menial to you - you arent living there, when you are and something is annoying or doesnt work, you have to put up with it every day. - agreed. That's why I do repairs instantly. the good thing for the tenant right now is that the market is continuing to become quieter as time goes on. rent is and will come down more and more and landlords who want to rent out their places will have to do some work to them to keep them marketable to potential tenents. they may also have to be a little more easy on the stupid conditions of actually renting. This is only the case in some parts of Australia, mainly the mining towns. In the places I invest in there are more applicants than properties, although not all of them may be applicants I would want to rent to. BB Quote Link to comment Share on other sites More sharing options...
Winneth Posted September 10, 2013 Share Posted September 10, 2013 This either indicates that the property was very cheap to start off with or that he didn't want you there any more for whatever reason. He was just greedy and a total (insert four letter word here...pick any). And I knew what he was up to so I started looking for a house to buy. Luckily, the house I bought settled two weeks before the lease expired. Not to be vengeful but he had his place empty for 5 months. And then had to get an agent to market it after for another three. I swear I wasn't stalking him but the house I bought had to go through the same street where that house was. But deep inside I was happy...ok and a little bit vengeful. I am only human after all. Some landlords do repairs quicker than others. These scenarios would not happen in my properties. Maybe you should give me a list of properties you have and I can go inspect them for future clients? Of course, if there is a repair... I will have to mention your name here in neon. hahahah. Should a landlord therefore question the integrity of a tenant who is offering less than the market rate? :biggrin: Hahaha. A landlord can do whatever he/she wishes to. Maybe not say it out loud though. Quote Link to comment Share on other sites More sharing options...
Nixipixi82 Posted September 10, 2013 Share Posted September 10, 2013 This thread was originally intended to help new migrants understand how they could increase their chances of getting a rental, as many people have been saying recently that it is hard for them...... BB Hi Buzzy bee, What kind of documentation is required to prove we are good tenants? Would it be worth getting references from our agency in the UK before we go out? Or does it have to be an Ozzy? Also, what if you don't have a job? How can i prove i am good for my money? Here in the UK i have always had a job when moving to a new rental, so i'm not sure how it will work when i get out there. Luckily i am being looked after by friends when i first arrive, but i don't want to be in their hair. What do you recommend as a basic check list of 'must have' pieces of documentation please? Thank you Quote Link to comment Share on other sites More sharing options...
Winneth Posted September 10, 2013 Share Posted September 10, 2013 Hi Nixipixi, References from agency and get the name, number and email address of the agent as well. Go back five years if you can. Copy of bank statement if you don't have a job when you arrive. ID photos (passports, drivers licence are a must). And just in case you're wondering, I am not Buzzy Bee. Just waiting on a document to come through and thought I'd chime in. =) Quote Link to comment Share on other sites More sharing options...
pablo Posted September 10, 2013 Share Posted September 10, 2013 It already is commonplace in areas where there is a lot of competition for rentals. Tenants in the UK can stop paying the rent completely and then cannot legally get evicted for months and months. So the tenants has far too much power in the UK. Imagine if the reverse were true, that the landlord could evict the tenant and then legally charge them rent for months and months afterwards! BB Yes i know its commonplace in some areas,dont think i'll be doing it tho Quote Link to comment Share on other sites More sharing options...
buzzy--bee Posted September 10, 2013 Author Share Posted September 10, 2013 Hi Buzzy bee, What kind of documentation is required to prove we are good tenants? Would it be worth getting references from our agency in the UK before we go out? Or does it have to be an Ozzy? Also, what if you don't have a job? How can i prove i am good for my money? Hi Nixipixi82, any positive documentation is a help. UK documentation is better than nothing. Sometimes agents call me wanting a reference for tenants, all they want to know is the answer to 3 questions - 1. Was the rent paid on time? 2. Was the property looked after? 3. Would I recommend them as tenants? BB Quote Link to comment Share on other sites More sharing options...
buzzy--bee Posted September 10, 2013 Author Share Posted September 10, 2013 Maybe you should give me a list of properties you have and I can go inspect them for future clients? Sorry Winneth, all my properties are let right now, in fact I have never had a gap in tenants in any of my properties greater than 2 days. However I do have a tenant who is currently defaulting on rent so that place may come vacant soon. BB Quote Link to comment Share on other sites More sharing options...
ItchyFeet76 Posted September 10, 2013 Share Posted September 10, 2013 We've never rented before (we own (with mortgage) our UK house), so how would we best advised to prove our reliability, etc. as a potential tenant when we make the move Down Under, please? Also, with regards the landlords who don't seem to care about maintaining their houses, it seems to me (and I'm probably wrong, it's just a 'feeling') that they're over-reliant upon the Australian property boom and consequent rental shortfall, so know / assume they'll get big $$$ for their property even if it's in a state. As testified by some of the ones we've seen on www.domain.com.au and www.realestate.com.au - some of them look like they haven't seen a lick of paint / new wallpaper since 1962, and the kitchens are like something out of Happy Days! They look dirty and dingy with scummy bathrooms and tiny, overgrown backyards, and yet they still seem to command high rental prices. I guess doing them up would take too much money / time / effort for only an extra $50 or so a week... I stand to be corrected on this - like I said, it's just a feeling I have - I'm still in the UK so would be interested to know what the real reason is for the state of some properties ;-) I-F :-) Quote Link to comment Share on other sites More sharing options...
buzzy--bee Posted September 10, 2013 Author Share Posted September 10, 2013 We've never rented before (we own (with mortgage) our UK house), so how would we best advised to prove our reliability, etc. as a potential tenant when we make the move Down Under, please? A bank reference would help, any sort of personal references. If you are booking short term accommodation when you first arrive, some providers (such as us) will offer a landlords reference as part of the package. , with regards the landlords who don't seem to care about maintaining their houses, it seems to me (and I'm probably wrong, it's just a 'feeling') that they're over-reliant upon the Australian property boom and consequent rental shortfall, so know / assume they'll get big $$$ for their property even if it's in a state. As testified by some of the ones we've seen on www.domain.com.au and www.realestate.com.au - some of them look like they haven't seen a lick of paint / new wallpaper since 1962, and the kitchens are like something out of Happy Days! They look dirty and dingy with scummy bathrooms and tiny, overgrown backyards, and yet they still seem to command high rental prices. I guess doing them up would take too much money / time / effort for only an extra $50 or so a week... I stand to be corrected on this - like I said, it's just a feeling I have - I'm still in the UK so would be interested to know what the real reason is for the state of some properties ;-) I-F :-) There are good landlords and not so good landlords. Your initial inspection of the property should give you an idea of how well cared for it is. Older properties tend to be cheaper to rent as they are outdated. Some places are really horrible, but you'll see this when you inspect. Some places are just for rent until the landlords demolishes them and redevelops, so these will be in a dreadful condition and likely to get worse. BB Quote Link to comment Share on other sites More sharing options...
Xenon4017 Posted September 10, 2013 Share Posted September 10, 2013 We've never rented before (we own (with mortgage) our UK house), so how would we best advised to prove our reliability, etc. as a potential tenant when we make the move Down Under, please? Also, with regards the landlords who don't seem to care about maintaining their houses, it seems to me (and I'm probably wrong, it's just a 'feeling') that they're over-reliant upon the Australian property boom and consequent rental shortfall, so know / assume they'll get big $$$ for their property even if it's in a state. As testified by some of the ones we've seen on www.domain.com.au and www.realestate.com.au - some of them look like they haven't seen a lick of paint / new wallpaper since 1962, and the kitchens are like something out of Happy Days! They look dirty and dingy with scummy bathrooms and tiny, overgrown backyards, and yet they still seem to command high rental prices. I guess doing them up would take too much money / time / effort for only an extra $50 or so a week... I stand to be corrected on this - like I said, it's just a feeling I have - I'm still in the UK so would be interested to know what the real reason is for the state of some properties ;-) I-F :-) You're not wrong. At least, you can find houses like you describe with ease, whereas finding counter examples takes more time. I often think it would make a great thread to post some of the best (worst?) examples. Sometimes the photos are truly comical. I believe you're not in Oz yet, so you might not be aware, as I wasn't, about how people view your social status based upon whether you rent or buy. It's shocking. Back to your original point about proving reliability, as a new migrant, most LLs and REAs accept that you've got no rental history here. So the big question is do you have the capacity to pay the rent? A job contract is worth 100x a job offer here. Also, they'll assume you'll be renting for a year til you buy again. Some LLs would prefer not to have to go through the same exercise next year, but in a tight market they'll consider it. Especially if you're solvent. IM (very) HO, it's really the borderline cases that they want 5 year histories for. Often, simply asking for this documentation will scare off the bad credit cases. I wouldn't sweat it about having enough "points". Ultimately the LL is just interested if you have enough money. Quote Link to comment Share on other sites More sharing options...
ItchyFeet76 Posted September 11, 2013 Share Posted September 11, 2013 Thanks BuzzyBee, that's good to know :-) Quote Link to comment Share on other sites More sharing options...
ItchyFeet76 Posted September 11, 2013 Share Posted September 11, 2013 You're not wrong. At least, you can find houses like you describe with ease, whereas finding counter examples takes more time. I often think it would make a great thread to post some of the best (worst?) examples. Sometimes the photos are truly comical. I believe you're not in Oz yet, so you might not be aware, as I wasn't, about how people view your social status based upon whether you rent or buy. It's shocking. Back to your original point about proving reliability, as a new migrant, most LLs and REAs accept that you've got no rental history here. So the big question is do you have the capacity to pay the rent? A job contract is worth 100x a job offer here. Also, they'll assume you'll be renting for a year til you buy again. Some LLs would prefer not to have to go through the same exercise next year, but in a tight market they'll consider it. Especially if you're solvent. IM (very) HO, it's really the borderline cases that they want 5 year histories for. Often, simply asking for this documentation will scare off the bad credit cases. I wouldn't sweat it about having enough "points". Ultimately the LL is just interested if you have enough money. That's good to know - thank you. By the way, what do the abbreviations (LL / REA) stand for...? Please excuse my ignorance! We're only coming over temporarily (min. 2 yrs, max. 4 - as on a 457) so would be renting for the whole time. Hopefully this would be seen as a positive in the eyes of a landlord, then...? We wouldn't make the move over until / unless we had an employment contract (we wouldn't get the 457 without it and that's our only route in to Aus) so we would also show this to the potential landlord. Thanks again for your advice :-) Quote Link to comment Share on other sites More sharing options...
buzzy--bee Posted September 11, 2013 Author Share Posted September 11, 2013 By the way, what do the abbreviations (LL / REA) stand for...? Landlord, and Real Estate Agent. We're only coming over temporarily (min. 2 yrs, max. 4 - as on a 457) so would be renting for the whole time. Hopefully this would be seen as a positive in the eyes of a landlord, then...? Most landlords will not sign up for a lease longer than 1 year. At the end of the year you either sign up for another year, or you go on to a monthly lease. The advantage of signing up for a year is that you know what your rent is going to be for a year, the disadvantage is that if you want to move within that year, you have to break lease, which is breaking a legal contract and can be expensive for the tenant. The advantage of being on a monthly lease is that you can move at any time with a months notice, the disadvantage is that your rent can go up every 6 months. (in Victoria - not sure of the exact rules in other states). BB Quote Link to comment Share on other sites More sharing options...
docboat Posted September 12, 2013 Share Posted September 12, 2013 Rental laws are a joke in Australia to which the OP outlined to a degree. The problem being it should be a two way process but to much power is on the boot of the landlord in Australia. A 2-way process? Why? Does the renter own the property being rented? No. Not one brick. It is the perfect right of a renter to walk away and buy their own property. Or find a landlord who is prepared to give away half of the rights to the property. Every second person out here thinks it easy money having to do nothing except watch the bank balance grow or invest in other properties. Then they have never rented out a house themselves. It is not easy, it is a business, it does have risks, and it needs to be managed, and managed well. I wish you well in managing your rental properties. Quote Link to comment Share on other sites More sharing options...
jimmyay1 Posted September 12, 2013 Share Posted September 12, 2013 There are a lot of amateur cash poor speculator type Landlords in Melbourne, who look on rent as minimising a loss in the hope of future capital growth as the OP points out its a strategy that works, sometimes, but i wouldnt invest personally like this . i own a property in London and it is let out to tenants. it's a great quality asset, warm and comfortable with double glazing, great central heating and lovely decor, bathroom and applicances. it has been a great investment and cash flow positive, the tenant's just renewed for another year and loves the place. lots of average property in Melbourne stays vacant for ages, and tenants move in and out all the time. because Landlords are too poor / cash flow negative / short sighted and greedy to provide decent quality accommodation to long term tenants. the quality of rentals here is generally crap . so they get a huge amount of churn , voids, stress all resulting from operating in a fly by night piss poor quality rental market, whilst pretending they are Donald Trump. They are a bunch of amateurs, playing at property investment. as i say it works for some but i think short sighted. the private block i live in currently has 3 voids (out of 8 apartments which were only "refurbished" in 2010). Superficially they look nice on the interior but in reality they are extremely noisy with no sound insulation whatsoever, doors that don't fit and crap heating and dreadful quality BIR's etc . As a consequence we'll be moving out next month, adding to the Landlord's voids. a little bit more money spent by the Landlord and he'd have had repeat business from us and i suspect others. Quote Link to comment Share on other sites More sharing options...
flag of convenience Posted September 12, 2013 Share Posted September 12, 2013 A 2-way process? Why? Does the renter own the property being rented? No. Not one brick. It is the perfect right of a renter to walk away and buy their own property. Or find a landlord who is prepared to give away half of the rights to the property. RESPONSE>>>I think I've already explained by it is a two way process. If the renter feels he's being ripped the owner will likely experience the results. Have already mentioned a house in my street was trashed when tenants felt hard done by. Nothing to do with giving away rights. It is not a hotel or hostel room. It is some ones home as such they have rights. Then they have never rented out a house themselves. It is not easy, it is a business, it does have risks, and it needs to be managed, and managed well. I wish you well in managing your rental properties. RESPONSE<<<< Usually if renters treated fairly the results tell. It is not just a business. It was a tax saving and some limited capital growth. Must better to have folk known at reasonable rents than going for maximum profit with a constant change of tenant. We self managed when living in Europe but a management company now does the job, rather badly I may add. Quote Link to comment Share on other sites More sharing options...
lawlere1 Posted September 12, 2013 Share Posted September 12, 2013 (edited) Dear Buzzy--Bee My retired cousin arrives in Melbourne from Ireland on November 6th is seeking a short term let for 2-3 months and would be very interested in your studio apartment if it is available. If so please pm me with your contact details and I will pass them on to him. Kind Regards Eamonn Edited September 12, 2013 by noworriesmate removed email address Quote Link to comment Share on other sites More sharing options...
lawlere1 Posted September 12, 2013 Share Posted September 12, 2013 (edited) There have been a lot of posts on this forum recently from people asking the best way to get a rental, or from people having trouble getting a rental for various reasons, so I thought it might be useful if I explained how things work from the landlord’s perspective. I have a number of properties that I make available to tenants, mostly unfurnished on long term leases. All that I care about is Getting the maximum rent I can for the property Getting the rent paid in full on time Minimising expenditure on the property. In other words, it’s a business, just like any other business. At the basest level, in order to obtain a rental, you are going to have to persuade me, normally through my agent, that you are going to help me meet the three goals listed above. Most landlords are losing money on a monthly basis in the hope of making some capital growth in the future. So anything that mitigates that loss is a bonus. Tenants are my customers, however unlike a traditional customer / supplier relationship, the tenant / landlord relationship involves an amount of risk, as neither party normally knows each other, and the landlord does not take full payment from the tenant and then divest themselves of the asset like a shop does. So in order to minimise this risk, there are controls on both sides dictated by the various state landlord and tenant acts. So what is going to encourage me to pick you as a tenant? Firstly, don’t be put off by the number of people at inspections. In most cases, 80% of these are not in competition with you because they are either nosy neighbours or people who have bad tenancy records and will not get accepted in any event. Probably 2 people in 10 will actually submit an application and pass approval. To rise above the crowd, help the landlord with the three things above. Offer a higher rent if you really like the place. Offer a higher bond if you have a pet or there is an any other reason why the landlord might think you would be more likely than another applicant to cause damage. Offer a few months upfront – landlords always have cashflow challenges. I was extremely grateful this month when a new tenant offered 2 months upfront as another tenant was late with the rent and a third property needed a new dishwasher, all at once. If I know you will pay on time and that the place will be in as good or better condition when you leave as when you arrive, I will have no problem letting to you. So all you have to do is show me that’s going to be the case! Hope this helps. BB Hi Buzzy Bee please contact me with further details about your studio apartment by pm Thanks. Eamonn Edited September 12, 2013 by noworriesmate removed email Quote Link to comment Share on other sites More sharing options...
buzzy--bee Posted September 12, 2013 Author Share Posted September 12, 2013 Dear Buzzy--Bee My retired cousin arrives in Melbourne from Ireland on November 6th is seeking a short term let for 2-3 months and would be very interested in your studio apartment if it is available. If so please pm me with your contact details and I will pass them on to him. Kind Regards Eamonn Hi, Pmd you, we're booked through from Nov 6th through to Jan 2nd, forum member "furkew" may be able to help - he also has accommodation. BB Quote Link to comment Share on other sites More sharing options...
buzzy--bee Posted September 12, 2013 Author Share Posted September 12, 2013 in reality they are extremely noisy with no sound insulation whatsoever, doors that don't fit and crap heating and dreadful quality BIR's etc This is the case with most property in Australia, not just rentals. Good luck finding something that has a better build quality. BB Quote Link to comment Share on other sites More sharing options...
flybyknight Posted September 12, 2013 Share Posted September 12, 2013 This is the case with most property in Australia, not just rentals. Good luck finding something that has a better build quality. BB funny, i just skipped 5 pages to see how this thread had developed (am i the only one who does this? be honest!) and ended up on this.... the exact reason why i laugh as i drive through point cook. both here and sanctury lakes are full of houses some aproaching a million quid that are leaky, noisy, just plain shite'y. the finish is immaculate, but the houses themselves are comical as far as performance is concerned. you will pay dearly all the time the outside temp is not the same temp as you want inside. pretty much a turd rolled in glitter. and.... thats why we have to build out here. its not that we want to. we have to! Quote Link to comment Share on other sites More sharing options...
Nats Posted September 12, 2013 Share Posted September 12, 2013 (edited) This thread was originally intended to help new migrants understand how they could increase their chances of getting a rental, as many people have been saying recently that it is hard for them...... BB REALLY?? Did you not just say you are not only willing but likely to increase the rent by whatever price to ensure maximum profit for yourself? And, IF, you have a good tenant you will try to fix any maintenance issues quickly? In any circumstance, as the owner & profiteer you should aim to rectify any issues immediately in all instances. As someone previously pointed out it is your house, but the tenants home. As for offering over & above the asking rent when rates are already over inflated, well that is just ridiculous advice. Been on both sides of the situation, rented out my own property & have been a rental tenant for 4 years in Australia. No issues in regards to finding rentals, exemplar tenant & have never needed to/ not will ever offer above the asking rate. Preposterous! Edited September 13, 2013 by calNgary removed personal comments Quote Link to comment Share on other sites More sharing options...
Incata Posted September 13, 2013 Share Posted September 13, 2013 (edited) REALLY?? Did you not just say you are not only willing but likely to increase the rent by whatever price to ensure maximum profit for yourself? And, IF, you have a good tenant you will try to fix any maintenance issues quickly? In any circumstance, as the owner & profiteer you should aim to rectify any issues immediately in all instances. As someone previously pointed out it is your house, but the tenants home. As for offering over & above the asking rent when rates are already over inflated, well that is just ridiculous advice . Been on both sides of the situation, rented out my own property & have been a rental tenant for 4 years in Australia. No issues in regards to finding rentals, exemplar tenant & have never needed to/ not will ever offer above the asking rate. Preposterous! There is really no need to be rude to BB. He is running a business, not a charity. Name calling is childish and immature and you can disagree without making personal comments. Edited September 13, 2013 by calNgary edited quote Quote Link to comment Share on other sites More sharing options...
Sustain Posted September 13, 2013 Share Posted September 13, 2013 (edited) REALLY?? Did you not just say you are not only willing but likely to increase the rent by whatever price to ensure maximum profit for yourself? And, IF, you have a good tenant you will try to fix any maintenance issues quickly? In any circumstance, as the owner & profiteer you should aim to rectify any issues immediately in all instances. As someone previously pointed out it is your house, but the tenants home. As for offering over & above the asking rent when rates are already over inflated, well that is just ridiculous advice .Been on both sides of the situation, rented out my own property & have been a rental tenant for 4 years in Australia. No issues in regards to finding rentals, exemplar tenant & have never needed to/ not will ever offer above the asking rate. Preposterous! Nats, you don't know BB, but I can assure you he is not fleecying tenants . Read his posts as an honest advice for people here in Melbourne. Fixing problems on the property benefits both landlord and tenant Market price will always determine rents. The problem is always each party has a different view of what market price should be. Melbourne is a different market from Brisbane. Quality housing will always require above market pricing. You soon realise why property is on the market for just a few hours - so whinging about strategies too secure will just leave your ego in tact, but keep you homeless. Edited September 13, 2013 by calNgary edited quote and some of reply Quote Link to comment Share on other sites More sharing options...
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