R put it succinctly today when he said, 'ok, no more Mr nice land lord'. We had a Brunswick Street lunch with brother friends yesterday and they took no notice of agents advice when they were setting their rent. Invariably they banged it up more than the agent suggested and in the same period as us, had only two tenants.
I think in the eight or nine years we have had our rental flat, we have had one really good tenant. He was the first or second out of about seven and we did not know what was to come.
We have put in a new hot water system, window locks, exhaust fan, repaired heating. Then we redecorated, painted it throughout, new carpet, new blinds, new lighting.
The present tenant had been very good with the rent but it all started to go wrong at christmas, a couple of months before his lease expired. He asked for a new lease, unusual, and wanted the same rent. We half hearted pressed for a higher rent, but he said he could not afford more. Ok, it costs us to change over tenant, so we will keep the rent the same.
Shortly after the media was full of stories of rental property shortages and high prices. Smart lad we thought, but then as I said, it does cost money to change over a tenant and he had always paid on the knocker.
This month the rent was paid considerably late, so he not quite so smart and we suddenly paid attention to the flat. What happened to the lease he was going to sign?
After an email and phone call to the agent, he has not signed the lease which needed to be signed by the the 23rd of last month. Agree to another lease and then not sign it and get cheap rent on the premise that you were going to sign it. I am not blaming the agent, as they have been pressing him, but he won't return calls.
Guess who's rent is going up by $25 per week and that is being conservative. Unfortunately we need to give sixty days notice, which normally we would have given in January. We won't see any extra money until June, that is if he doesn't leave and then we will whack up to $35 a week more.
So may stories about bad landlords, and we are about to become them, through bitter experience.