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Six Monthly Inspection…

Ah the joys of being a tenant. We just had our six monthly inspection to make sure the house hadn’t been converted in an Asian brothel and meth house. (That should bring up some interesting Google Ad-Words :-))

We could have done thisBut it got me thinking. Now we are tenants and have to put up with what feels like a parental inspection to make sure our room is tidy. Now last time I checked I was a grown up (yes my wife and a number of my friends my strongly disagree) and yet we have to put up with this.

Now the financial income to the landlord/lady on our property is around a low mortgage repayment. So of course the landlord/lady has a vested interest in the property being maintained.

Now consider this… image if we had a 105% loan on this house and the bank was owed a shit load of $$$ with the risk that we are trashing the place and dramatically reducing its value.  At this point the bank could be seriously out of pocket and with the credit crunch that is happening you’d think they might give a flying toss as to what is happening. But no.

This is what we have done in the houseBanks go “here is your mortgage please pay on time we need never speak to you again”.  For me there in lies the rub.  We are going to put less money into the house, for all we know it is being negatively geared what ever that means, than the landlord is.  Yet we have to put up with having our bathroom checked for mould.

Now our Agent was all very nice and was in and out in 5 min and took notes on something that we would like fixed, but what is the bank that lends 105% doing about their investment… nothing.  This is one of the reasons that tenants feel like second class citizens.