As you would have seen last week, we were left with a house destroyed by drug dealing tenants (confirmed by the police). It took 2 months to get them out of the house (even though by that time they were almost 5 months behind in rent – but that’s another story). The damage – all that was covered by insurance were the doors and the tiles – malicious damage, everything else considered wear and tear.
Was rent covered? No – this you need to be aware of, if you buy a house and the tenants are in rent arrears, no matter whether or not this is your fault, it is not covered by insurance. So out of what was over $15,000 in the end, the owners only received $6,000 to put towards the repairs.
Depressing story, I know, but now that it’s July, and the owners have put in a fair amount of elbow grease, and the house is ready to lease (tenanted same week it was available).
Images below!
It is now rented to a lovely family, in Werribee (it’s a 3 bed 1 bathroom property), at $300pw (considering it was getting $1000pm prior, $300pm more isn’t a bad increase – not enough to cover the work involved, but again, that’s another story).
How did we help? For no additional charge, we evicted the past tenants, obtained the bond, did the insurance claim for the owner and helped them through the renovation process until the happy ending of a new tenancy!
