Quote:
Originally Posted by jstanovic
I see your point but you will always be at the mercy of the landlord. If his/her circumstances change and they need to sell ASAP you will have no choice but to move (granted it could also happen to your own home too).
I couldn't live with that uncertainty/insecurity for my family and myself which is why I chose to buy my own place which I have total control over, with all its pros and cons.
Horses for courses though.
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Scaremongers have been spruiking that for as long as I can remember, i've never experienced it, nor do I know of any who have.
If it were to come about, the landlord has the onus to either negotiate my continued tenancy until my current lease ends, or find me alternative accommodation of similar type.
The tenancy tribunal protects me from any shenanigans.
Having said all that, last year a family of ice addicts aquired the house across the road, if I told you who these people are your head would spin.
I immediately notified the landlord of our intention to vacate at the end of our lease as I wasn't raising my kids near that.
The Landlord freaked out as they've had it so easy for so long that they didn't want to lose us, even offering us one of their other properties.
If this happened to an owner occupier it would cost thousands to rectify, as a renter i'd just terminate my contract, and move on.
Might cost me a few hundred, but with the glut of rental properties available, finding acceptance elsewhere is but a formality.
Seems they were more reliant on me as a reliable tenant than I was on them being secure investors.
Unfortunately old mate the carsalesman who's been paying his mortgage had no choice other then put up with it or spend most of what he's made in capital gains to sell up and buy elsewhere.
Thankfully for both the ice addicts fell over and the house vacated soon after but the difference in attitude towards the problem between me the renter and he the owner was striking.