Tenants not paying on time and need to sell property

[ccam26]

gidday, i have a couple of tenants found by property manger who im no longer using, the are getting the benifit for the rent and having issues with it, are very bad at paying on time often a week late and often part payments, is there any way to get rid of them as im trying to sell the property, and i think having them there on fixed term (aprox 6months left) is taking the shine off the property for alot of possible buyers. im needing to sell the property to fund a new one as i have left the area.

is there anyway i can get rid of them?


cheers cam

[revdev]

Have you previously issued any "14 day notice's to remedy (unpaid rent)"
Are they 21+ days in arrears?

[ccam26]

Have you previously issued any "14 day notice's to remedy (unpaid rent)"
Are they 21+ days in arrears?

no as they pay they following week so never get behind much more than that, just have to chase it every at least every second week or so. tried to talk them into changing to a periodic lease but they like the place to much to risk loosing it, slowly doing my head in

[artemis]

You may be stuck with them until the end of the term.

If they are keeping the place tidy, it may be worth putting it on the market anyway, though if it sells the tenants can stay till the end of the term. You could tell the tenants that the new owners may well be investors, and that if they look after the place and pay the rent on time you will make sure the new owner is aware. Could work.

Are you aware of the rules around ending a FTT? See link below. You can give notice 90 days before the end date, and tell them they can leave earlier if they want to. Probably should give notice as soon as you can anyway.

http://www.dbh.govt.nz/tenancy-expiry-fixed-term-info

[Wayne]

The simple answer to your question is NO.
A tenant in place will limit the sales opportunities and you lose the owner occupier market - has to be an investor really.

[Rosco]

no as they pay they following week so never get behind much more than that, just have to chase it every at least every second week or so. tried to talk them into changing to a periodic lease but they like the place to much to risk loosing it, slowly doing my head in

What about asking the tenants if they want to buy?

Also have you considered keeping the property as a long term rental. Maybe getting a good property manager to manage for you, so they look after the hassles for you?

Where is your property based?

Ross

[ccam26]

What about asking the tenants if they want to buy?

Also have you considered keeping the property as a long term rental. Maybe getting a good property manager to manage for you, so they look after the hassles for you?

Where is your property based?

Ross

They would love to buy it but cant afford it. Yeh did think of keeping the place. But need to sell it to buy the new place im looking at. Might have to try to talk them into periodic lease again. its based in dunedin.

[Wayne]

Might have to try to talk them into periodic lease again. its based in dunedin.

Good luck with that!

[PC]

Put it on the market.
Have lots of open homes.
Get agents to come through as often as possible.
Annoy them enough - they might leave (or trash the place).

Offer them a move out bribe - $500 towards shifting costs?

[Maccachic]

FTT can be ended with mutual agreement - stump up with some cash and you may well get agreement

[Re@der]

Hi
What about managing the issue instead of looking for easy ways.
My suggestion is to give them the required 90 days notice to vacate.
But offer to withdraw if you can get paid directly from their income source.
Either employer or social welfare

[ATandGT]

Hi
What about managing the issue instead of looking for easy ways.
My suggestion is to give them the required 90 days notice to vacate.
But offer to withdraw if you can get paid directly from their income source.
Either employer or social welfare

What required 90 day notice would that be?
They are on a fixed term remember.

[phillip30]

agree with Maccachic, see if there is an area of negotiationby having a discussion. Imagine yourbuyers would be limited if there was a 6 month lease in place

[PTILoveYou]

If they are consistently lagging behind on rent, you can always take them to tribunal and terminate their tenancy at the same time.

Since they are trouble tenants, get rid of them first before selling your property. There maybe some maintenance and repairs needed to freshen up the property for sale as well.

If you want a good price, a home buyer is more likely to pay more, but home buyers won't buy it if the tenant is staying for another 6 months.