The person we deal with at the rental agency, Shocking Stupid, called me last week. She is so lovely on the phone. She enquired about what we did for christmas and the new year and some other chit chat. I met her once when our last tenant left and the new one was coming and I aboslutely hated her. She is gorgeous over the phone, but a cold hard stern business like bitch in person. I scarcely believed it was the same person.
Anway, the tenant wants another twelve month lease. Bit unusual. Normal practice is an initial one year lease and then month to month. To paraphrase what I said to the agent, screw him for more money if you can, but if not, sign him up for another twelve months anyway. She won't bother as there is precious little in it for her company.
The last condition report said the flat was ok, but messy. Well, each to their own, so long as the flat is ok. He pays (deducted from his bank account) on time and is the best paying tenant we have had, and we are up to about five over eight years.
The flat is at the end of a long central hallway, and I mean long, like maybe 100 metres. The hallway is an absolute mess. We are paying a substantial levy on top of the normal body corp fees to have it fixed up, but the work won't be started until March. I think it is about $30,000 worth of work. So I feel a little guilty about how bad it looks and I wouldn't want to be paying any higher rental. But with a lovely new hallway and another year down the track, he can look forward to a substantial rental rise next year.
Btw, lest you think I am a rich property owning type, it does not make a profit and if sold, would not pay what we owe on our apartment, but it hasn't done badly for capitol growth.