topic Re: Rental question in Community Spirit

Rental question

the_bob_delusion — Tue, 24 Jun 2014 10:22:53 GMT

My tennant wants to go month by month instead of signing a lease renewal. What do you think?

Re: Rental question

boris1gary — Tue, 24 Jun 2014 10:25:34 GMT

Have you let them know their squatters rights?

Re: Rental question

*mrgrizz* — Tue, 24 Jun 2014 10:32:41 GMT

translation........i have a rental property

Re: Rental question

lloydslights — Tue, 24 Jun 2014 10:36:12 GMT

I would query the bond situation.

DEB

Re: Rental question

cherry*135 — Tue, 24 Jun 2014 10:37:21 GMT

In NSW, owner can offer a tenant a new lease when the current one expires (usually for 6mths or 12mths). Rent due weekly.

It is up to the tenant, whether they want to sign a new lease or not. If not, they carry on, on a periodic lease (they must give 21 days notice if they want to end the tenancy).

No issue with bond. They are just no longer on a fixed lease, instead a periodic lease.

Re: Rental question

the_bob_delusion — Tue, 24 Jun 2014 10:48:43 GMT

@*mrgrizz* wrote:
translation........i have a rental property

Do I really strike you as someone that likes a brag???

Re: Rental question

fiestas*girl — Tue, 24 Jun 2014 10:48:47 GMT

i signed a 12 month lease amd moved out 5 and half years later

Re: Rental question

the_bob_delusion — Tue, 24 Jun 2014 10:52:54 GMT

is there any benefit for the owner vs tennant?

Re: Rental question

kopenhagen5 — Tue, 24 Jun 2014 11:27:02 GMT

The way I see it is either the tennants are planning on leaving soon or they simply prefer the non commitment.

Either way, if they are good tennants, won't make much difference anyway.

If the tennants are a little shakey, then not having a long term lease could promote the opportunity to leave the place in disarray with not paying rent for 1 or 2 months before you have the opprotunity to evict.

Re: Rental question

cherry*135 — Tue, 24 Jun 2014 11:52:12 GMT

Benefit for owner of a fixed lease is they can count receiving rental income for 6 mths/12 ths (length of lease) without interruption.

Benefit for a tenant, esp for 12 mth lease is owner can't increase the rent in that time. For a 6-12mth lease I guess the tenant has security knowing they won't have to move.

Re: Rental question

cherry*135 — Tue, 24 Jun 2014 11:59:22 GMT

"If the tennants are a little shakey, then not having a long term lease could promote the opportunity to leave the place in disarray with not paying rent for 1 or 2 months before you have the opprotunity to evict."

A tenant on a fixed lease could stop paying rent and/or trash the house as well.

Eviction regulations for rent arrears are the same for a tenant on a fixed or periodic lease.

Re: Rental question

kopenhagen5 — Tue, 24 Jun 2014 12:25:04 GMT

Sure, but a month to month could add incentive to already shakey tennants for a disruptive exit.

So if they are good tennants, I wouldn't be concerned.

In my experience good tennants that have been on monthly arrangements have stayed for 4 years or more.

Re: Rental question

serendipityricho — Tue, 24 Jun 2014 21:29:26 GMT

The long term lease can be used by the renter.

I live in a block of 4 flats--old ones--like it here.

13 years ago i had a 12 month lease-them let it drop back to month by month.

A couple of years ago the property was surveyed for developement in the future.

Now take a 12 month lease--latest one April -April.

That way the next time i apply for a long lease and its refused-i

will know its time to look for another flat-at my leasure...............................Richo.

Re: Rental question

kilroy_is_here — Wed, 25 Jun 2014 00:52:25 GMT

My advice bob is if it's residential property is sell it and purchase industrial or commercial much better investments

Re: Rental question

i-need-a-martini — Wed, 25 Jun 2014 07:39:04 GMT

Good for them, bad for you.

Means they are planning to move out as soon as they find something else.

Re: Rental question

cherry*135 — Wed, 25 Jun 2014 11:02:39 GMT

We lived 7 years in the same leased house. Signed a 6mth kease at the beginning, then a 12 mth one. From there on didn't want to sign another fixed lease. . A nicer house may have come up in the same area, job security can be dicey at times - don't want to be stuck with a fixed lease, may apply for a job transfer in another location and don't want fixed lease if you get the new job.

The RE were always trying to put the pressure on us to sign a new lease ( they get a fee for that I believe, even for an existing tenant resigning). The owner wanted a fixed lease. Bottom line the tenant doesn't have to sign one.

They annoyed me greatly..stayed there because the rent was lower than most other places nearby.

Re: Rental question

sineaterdoodah — Wed, 25 Jun 2014 19:33:24 GMT

bob, we lived in our house for 14 years on a month to month basis,and then we bought it,have owned it for 7 years in november. maybe you'll get that lucky too!

Re: Rental question

2106greencat — Thu, 26 Jun 2014 07:44:37 GMT

You could always counter offer - month to month at $xx per week - 6/12 months fixed term at $xx. per week.

With no lease the lessor is not bound to fixed month (6-12) term increases in rent any more than the tennant is obliged to give a months notice.

Month to month is usually cheaper if it is offerred by the lessor, (usually because a property is for sale etc) but if the tennant wants it this way, the landlord has the right to re-adjust the rent accordingly and revisit the situation as they see fit.

At least here in QLD.

Re: Rental question

cherples — Thu, 26 Jun 2014 08:22:31 GMT

For 2 days I've been seeing renal question when I open the CS forum.