So our landlord is one of those AFK types. Doing the absolute bare minimum, letting precious housing stock slowly rot. Like we have to really go on a campaign to get stuff sorted. And not just minor stuff, we’ve had air con not working in a heat wave type nonsense.
So we made him an offer, slightly above market, to buy him out.
“I’m settling another property at the moment, let me get back to you in a few weeks…”
6 weeks pass and then: “I’m not selling, and here’s your lease renewal”
+ $100 pw rent (19%)
Off the back of at 10% rise last year.
But thats our bad for letting him know we liked the place… I guess.
I mean we’ll be fine. There’s a house deposit we can’t seem to be able to spend burning a hole in our bank account and all that.
But I feel like we need some kind of modern take on adverse possession laws where if a landlord doesn’t look after their stock, it can be bought out from under them.
@milesmcbain He also now knows you have money :( That's a shame.
@jroper @milesmcbain from the perspective of maximising his profit I can’t fault the decision. Tenant will either increase offer to ‘silly money’ or soon leave, and since we tipped we have capacity to buy he knows leaving soon is almost certain anyway.
The broken bit is that we subsidise his little ‘game of houses’ and let him degrade housing stock in the process.
@milesmcbain I wonder if you could have offered through a third party? Probably would see through it now though.
@jroper @milesmcbain yeah that probably would have been smart!