Im Sorry... What?
Thanks for tuning in for the very first money win post!
Today's post is quite fitting given the current property market...
So, here we go.
A few weeks ago my partner and I moved interstate. For the first two weeks, we were still paying our mortgage in Sydney and also rent for our new place in Melbourne. Make no mistake, that took a massive hit to our budget. You're probably wondering why on earth would we choose to do that, right? it seems obvious... rent out our place in Sydney BEFORE moving to Melbourne. *Duh* Yes, you're not wrong ... but.. there was one issue. The apartment in Sydney needed a massive paint job. While the apartment was certainly liveable, we wanted the tenant to feel like it was their home, so it had a warm cosy feel to it, and in the condition that it was - it definitely didn't feel like that.
Two weeks after we moved to Melbourne, We estimated that to get someone in, a professional painter, we would be looking around $5k - $10k to have the entire unit painted...and after having just paid the 4 weeks bond and 4 weeks rent upfront... as well as all our moving costs, we decided it was just too much to fork out. So, like an absolute trooper - my boyfriend booked a return ticket and flew back to Sydney to paint the entire unit himself over one whole weekend and boy did he do an incredible job!
So much so, that on the last day, it was a Monday that the real estate agent who was going to manage our property was expecting us to drop off the keys. My boyfriend dropped off the keys at around 4.00pm Monday afternoon... by 11.00am the next morning (Tuesday), I had received a call from the property manager advising me that they had already secured a tenant who was willing to pay the rent price that we were asking and not only that... if we gave them the property and allowed them to move in that weekend, they would pay 6 months rent upfront.
I'm sorry..what? was pretty much my reaction to that phone call
Naturally, we were in shock that not only did it get rented out in 24 hours, we hadn't event had professional photos taken nor had we even advertised the apartment yet. I mean, is this not insane? (not that i'm complaining) ...
Fast forward a few days - our tenant has paid upfront, and moved in that weekend which means we have peace of mind for the next six months. thank goodness! especially at this time where interest rates are on the rise.
If thats not an awesome money win... i don't know what is!
Keen to if that was a fluke or if you've had a similar experience with your rental properties ... feel free to share your stories in the comments below.
Till next week,