In 2022 Arnold Property received an appraisal request from a landlord.
The Property was purchased in 2016, and the Selling Agent was appointed to manage the Investment.
When we took over the management we discovered:
- Rent and water usage arrears
- Defective documentation and reports
- No action taken to have the tenant rectify, yard maintenance, rubbish removal and regular cleaning
- Maintenance defects not reported
We recommend that the lease be ended, and the property renovated.
After obtaining vacant possession our new landlord ended up in deficit. The rental bond did not cover the tenant’s liability. The tenant is currently repaying the deficit back at $30 per week.
The property has now been re-let for $500 per week. The previous rent was $395 per week. This is work in progress as our client unfortunately exhausted his finances. So far, this project has been completed.
- Upgraded all lighting to LED
- Upgraded ceiling fans
- Full interior paint
- New flooring, carpet and laminate floors
- Renew rear steps
- General repairs
This property has a Granny Flat potential which will be the next stage of this project.
Stay tuned for further updates!
Need advice on your investment property? Please reach out to Steve Arnold, Principal of Arnold Property.
Best Property Manager in Charlestown!
0419 947 980
