Quote:
Originally Posted by Klazu
It seems that 2.5 months on the market without any success has not discouraged them and they still think they can rent it out for big bucks. I just wonder how delusional they have to be to still think they will be able to rent it for the same ask price, although everything we warned them about has happened. The unit is empty now on and I doubt it will help that they will re-paint the walls.
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While we won't be going back to this landlord anymore, it is still funny to see the suite being constantly re-listed on Craigslist for the very same price. Considering that it is end of the month, it begins to be sure that nobody will be moving in on June 1st, meaning the suite will be empty for another month.
That means they will have already lost $8,200 in rental income and with re-painting the walls they are likely close to $10,000 down in comparison to having kept us as their tenants. It will take them close to two years to just re-gain that money and this is only in case they manage to rent out the suite for the price they are asking. It has now been on the market for more than 3 months and to no avail.
I wonder when the owner will be willing to admit to herselft that she has made a big mistake with the value assessment of her investment. I also wonder when she will try a different rental agency, as this one seems totally incompetent.
I just hope she won't go sitting on it hoping to turn profit when selling. Values in One Wall Centre have not been going up quickly, if at all, so they will be spending A LOT more money on it before being able to sell it for profit. I can't help but feel a bit amused seing all of this.