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nuttymama View Drop Down
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    Posted: 26 August 2007 at 4:51pm
We have been in our new rental property for 4 months now and our landlord has just informed us he is selling up. We have a fixed term lease for a year, and I know we don't have to move etc. What I am asking is;

He has offered to come to an arrangement to "buy" us out of our lease, what should we be asking for????? What would you ask for????
Abigail 06/01/2005
Jayden   21/11/2001
Micheal 03/04/1997
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Chovynz View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Chovynz Quote  Post ReplyReply Direct Link To This Post Posted: 26 August 2007 at 4:58pm
12-4=8
I'd add up 8 months worth of rent, and add 10-12.5 percent for the inconvenience and because he's just done a contract (4 months is pretty recent) with you guys and now you have to move again (if you take up his offer.)

So:
(8 months)+ 10% - 12.5%

But also look at where you might like to move to. Increase the percent if you're moving to a higher rent place (i.e. Wellington, Auckland or Hamilton.) I wouldn't go above 30%. That seems a bit *reactive* if you go there if you know what i mean.

Edited by Chovynz
Defending the male species since 1980
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Peanut View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Peanut Quote  Post ReplyReply Direct Link To This Post Posted: 26 August 2007 at 6:10pm
Most only offer to buy you out by offering to pay your moving costs etc. The most of I have heard of has been about $4,000.
       
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hailstones View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote hailstones Quote  Post ReplyReply Direct Link To This Post Posted: 26 August 2007 at 7:15pm
I'm not too sure what I would ask for if it was myself - but I would definatly ask for more than I suspected I would get (then theres room to negotiate)

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nictoddie View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote nictoddie Quote  Post ReplyReply Direct Link To This Post Posted: 26 August 2007 at 8:21pm
Wow lucky you, we did not have a fixed term but are in the same situation, The open homes started today so the house had to be clean and tidy not that it isn't and we had to leave for the open home, we are just trying to negotiate cheaper rent for our last week for the inconvience we have found another rental but it's all the expense that goes with moving etc. Good luck
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nuttymama View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote nuttymama Quote  Post ReplyReply Direct Link To This Post Posted: 26 August 2007 at 8:34pm
Not so lucky we moved into this place 4 months ago after our last house (which we rented for nearly five years)was sold from underneath us. We had all of the open homes etc not so long ago.

We have a meeting with the landlord on Wednesday so need to have some sort of ball park figure!!

What to do????????
Abigail 06/01/2005
Jayden   21/11/2001
Micheal 03/04/1997
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nictoddie View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote nictoddie Quote  Post ReplyReply Direct Link To This Post Posted: 26 August 2007 at 9:04pm
No how you feel we have only been here for 4 months totally sucks.
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my2angels View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote my2angels Quote  Post ReplyReply Direct Link To This Post Posted: 27 August 2007 at 8:05am
do as chovynz said and if that figure sounds to much then just bring it down a little but go in there with your formula so you can tell them how you got to that figure. I know the people on this place we just brought were on a fixed price and the landlord paid out $2500 to get them to move
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Peanut View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Peanut Quote  Post ReplyReply Direct Link To This Post Posted: 27 August 2007 at 8:17am
I know a really good property mangager who would prob help you with working out a figure or what you can ask for. PM for details, is you like.
       
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my2angels View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote my2angels Quote  Post ReplyReply Direct Link To This Post Posted: 27 August 2007 at 10:38am
Oh yeah thats a point, my best friend is a property manager if you want to chat with her.
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Mikaela View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Mikaela Quote  Post ReplyReply Direct Link To This Post Posted: 27 August 2007 at 11:46am
I know someone who got a $35,000 payout when the landlord pulled out of the lease contract!

They'd only moved in two weeks earlier and then the landlord suddenly decided to sell, so he paid them out. I know this lady's husband haggled with the landlord a fair bit to get such a stunning lump sum!

This was last year and the house was in Greenlane, Auckland if that makes any difference.
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nictoddie View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote nictoddie Quote  Post ReplyReply Direct Link To This Post Posted: 27 August 2007 at 12:44pm
Jeepers that is a huge amount did they go and buy a house?!!!???
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11111 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote 11111 Quote  Post ReplyReply Direct Link To This Post Posted: 27 August 2007 at 4:38pm

Originally posted by nictoddie nictoddie wrote:

Jeepers that is a huge amount did they go and buy a house?!!!???

I was jsut thinking the samething.

Deborah Mum to:

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buzimumto3boys View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote buzimumto3boys Quote  Post ReplyReply Direct Link To This Post Posted: 23 September 2007 at 6:52pm
Did it all go well??
Just ran across this thread.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote nuttymama Quote  Post ReplyReply Direct Link To This Post Posted: 24 September 2007 at 7:41am
He came over and offered us two weeks free rent!!!!! . The funny thing is my sister also rents from him and he offered her the same and she only has 6 weeks left on her lease. So we said no and he actually looked shocked. We told him we expected our moving costs at the very least to be covered.

So he said "I could just keep the house and tell you to move out in April" to which I said fine at least that gives us 8 months to save.

So at the moment he is trying to sell the house as leased but he's selling it himself so we have had two open homes and no one has come.

So at the moment it stands as this, he is selling with us in here, but we have told him we will let him out of the lease but he has to put a little more effort into it other than 2 weeks free rent.

We don't want heaps we just expect our moving costs to be covered we want extra to cover the extra bond (we only have two weeks in this place and most ask for 4) but he is apparently to tight to pay it so for now we stay.
Abigail 06/01/2005
Jayden   21/11/2001
Micheal 03/04/1997
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buzimumto3boys View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote buzimumto3boys Quote  Post ReplyReply Direct Link To This Post Posted: 24 September 2007 at 7:45am
Oh wow... what a dork! You would think he would be able to afford to cover moving costs etc.. also if you wanted to be nasty you can say no to open homes??
I wonder if yours is one of the places I saw on Trade Me?! LOL
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nictoddie View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote nictoddie Quote  Post ReplyReply Direct Link To This Post Posted: 24 September 2007 at 10:02am
Wow that is really tight, you can't say no to open homes I studied up on all of this when our property got put on the market if you go to the tenancy services website it states that if they give I think it is 48 hours notice prior to each open home, we moved 2 weeks ago and was the best thing we did, we had agents ringing us the weekend we were moving to show people through when the main agent knew full well we were moving but it was other agents from the real estate, we ended up moving two days earlier cos we were sick of it, and lost money but money well spent to be out ! Good luck and good on you for sticking to your guns, that's the down fall of having to rent as alot of landlords just don't care about the property/maintenance etc just want to get their money in every week!
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nuttymama View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote nuttymama Quote  Post ReplyReply Direct Link To This Post Posted: 24 September 2007 at 2:30pm
I rang the tenancy tribunal a few weeks ago and they said you CAN say no to open homes, but you have to allow reasonable access to the property at other times. This Sunday we were coming down our street at 2-00 the open home finished then and he was in his car indicating to leave! My beef with this is he doesn't have keys and left our house unlocked. So he will be told this week that if he leaves before we get there, there will be no more open homes.

buzimum our house is on trademe it's in phillipstown listing number #118996465
Abigail 06/01/2005
Jayden   21/11/2001
Micheal 03/04/1997
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nictoddie View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote nictoddie Quote  Post ReplyReply Direct Link To This Post Posted: 24 September 2007 at 3:16pm
Gosh that sucks aye!
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Post Options Post Options   Thanks (0) Thanks(0)   Quote buzimumto3boys Quote  Post ReplyReply Direct Link To This Post Posted: 24 September 2007 at 3:25pm
That is so rude of him! Good on you for putting your foot down!!

I didnt see that listing before. Nice house tho. Sad that you have to leave it!!
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