After cleaning our daughters first investment unit here in western Sydney, it was time to place it in the hands of an agent. We will be away this year for periods of time. So after having a split system AC installed and cleaned top to bottom it was time to call in the agent and his assistant, along with their Photograther to do a professional photo shoot.
Wow nice unit,you have done a great job in its presentation. Thanks.
This won't take long to lease. The young lady assistant, says that she herself and partner would love it, however they are committed. This is good start to getting it back on the market after the previous tenant move OS to a new job.
In the first week 30 enquires with 18 couples, some with littleies in tow, inspecting and all asking to lease it on the spot. Well done son. We have to check them all out.
All 18 failed to meet the agents requirements. Why????? The wife and I watched from a distance as we were there an hour before to turn on the AC. 18 went in, and 18 left.
Most were dressed neat casual as one would expect..
The agent rang our daughter on the following Monday with the results.
Many had the deposit cash in hand. BUT wait for it. They could not supply a Bank A/C to show where the $$$ will be coming out of.Eh! Some could not supply Checkable References. Some were Unemployed and would pay by credit card. Some were blocked for reasons not opened to us.
Now this unit is not over priced, and is on the same rental as before, as the turn out and response to sign up.
So we saw another 6 teams pass in on Wednesday.Same out come.
Today another 6 couples some with littleies. We shall wait and see.
The agent says we have to do the checks, Or the courts can and do fine them.
Makes us wonder about the true state of our economy and what folks spend there money on.
Have you seen this Vetting before.
Our daughters first tenant, she found and managed herself. Dad was the Mr FIXIT man. Sorry darling we need a break.
Nothing beats a good agent !! Some are possibly working AND on some pension or Centrelink ? Or have a partner with dubious past ? Maybe not on lease ? Yes the MAINTENANCE !! Lol Some people cannot change a light or reset the gas heater !!
The man and his staff have secured the right tenants.
Makes me wonder how, it may have turned out without the right management in place. New tenants have brought a property to build there new home nearby. The agents have earned their money on this one. Would be nice to have the extra coin to do the same.
The number of couples who may never get off the rental cycle.
Say at home with Dad and Mum where ever possible. We know this is not always doable.
We would keepe'm at home till we could see them right.
Well we got one out of two this far. We must keep trying on the second one to see the light.
This should be taught / Drumed into there heads, at school as part of the school studies. Back in my day the Bank came to the school to do student banking to show students the power of compounding savings / investing to grow there Money. We studied Commerce, Maths, English, Science and good old Italianno, Tect Drawing at school.
The Ities, Greeks, Jews, Vietamanese, Chineese, and all the others in between can do it.
Its called FAMILY.
Its all about the family. Its not Rocket Science.
How has the system let our younger generations down.
Difference nowdays is that houses in Sydney cost 13 times the median household income - back when we bought our first home (1970) the cost was 3 times median household income.
4 of our 7 kids have their own houses with mortgages to match, the other 3 probably will always rent.
I certainly agree with your thoughts on family.
I only own my humble abode because I built it my self. I was running my charter fishing business , and the bank turned me down for a morgage, cos they didn,t think I made enought , even though I had $50k in their bank. But the gave me a personal loan for the land, and another for the kit house. And when it was up to council standards, the gave me a morgage. They didn't like me much, because I paid it off in 2.5 years. They thought they had me under their thumb for 25 years! Moral- DON'T TRUST THE BANKS.
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Some were blocked for reasons not opened to us.
