I have finally acquired my 12 spaces for two-wheeled vehicles. Ideally located in a big city district, in the basement of a building guarded and placed under telesurveillance.
- Congratulations Anna, tell us about your acquisition
- What argument did you put forth for not paying
- How did you find out about our club
- How does the first rental go
- Do you have a strategy for boosting returns
- Is day-to-day rental management easy
- Thank you for your answers Anna, we’ll let you have the last word
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Congratulations Anna, tell us about your acquisition
It all started while I was browsing through the classified ads. I saw a classified ad that had just been published about this lot of twelve parking spaces for two wheels. Interested, I contacted the owner to visit the property and the next day, I got an appointment to visit it. The visit went well. I liked the pitches, the neighborhood as well and I thought there was a possibility to do something good with this parking lot. So after some calculations and some time to think about it, I made a proposal to the owner. We managed to come to an agreement.
And on Monday, I signed the purchase of my parking spaces. However, I would like to share with you an interesting experience that took place at the notary’s office. I visited this parking lot in March and committed myself to purchase it ; by registered letter with acknowledgement of receipt from the owner at the beginning of April in accordance with the instructions of the notary. On Monday 15 June, I went to the notary’s office to sign the sale. At the time of the signature, the notary turned to my seller with whom I had had a very cordial relationship for months and said to him “let’s start with the things that annoy !”. My seller immediately says “yes, by the way ; I don’t want to pay for this bill because I won’t benefit from it”. I want the buyer to pay”. Needless to say, at the time I didn’t understand what was going on.
In fact, it is electrical work voted by the trustee of the building in which my sites are located. These works have been voted since the month of March, my owner was therefore. Of course, aware of all this and was careful not to let me know and waited until the last moment because he had no choice but to let me know that the owners would each have the modest sum of $ 2,500 to give for these works. On the day of the signing, he tried to do everything he could to make me pay this salty bill.
What argument did you put forth for not paying
Thanks to the valuable advice of community members. I strongly protested and even threatened to cancel the sale immediately for hidden defects if he continued on this path. The notary confirmed that this was indeed a hidden defect on the one hand and that on the other hand. As the works had been voted on while he was the owner, it was up to him to pay and not me, so either he paid or the sale was cancelled. There, I wanted to share this with you.
How did you find out about our club
I joined the community by chance looking for information on parking lots and garages. My attention was then drawn by an article from the club. So I went through the whole site and enjoyed it very much. I then decided to join the collective and I have absolutely no regrets !
How does the first rental go
Half of the pitches are currently rented. The collective helps me a lot with advertising and the free rental lease. Otherwise, I will go and distribute flyers in the area of my car parks; the models made available by the collective allow me to save time. I’m going to look on the net for specialized two-wheeler sites. To see if I can make myself known by distributing my advertising posters in the areas of the motorcycle shops.
Do you have a strategy for boosting returns
At the moment six out of twelve pitches are rented, so I’m going to wait to fill them all up. I think I’ll be able to rent my six other pitches fairly quickly with the price of $ 58 per month including charges. The lot was originally pitches for cars, which were divided up to accommodate motorcycles and boost profitability.
Is day-to-day rental management easy
For the moment, I don’t realize it because I’ve just become an owner but these first 3 days have been very busy because I’ve had a lot of appointments with tenants. Thanks to the collective, I am not alone! I know that I will receive advice if I need it. My tenants will be able to find answers and assistance on the collective’s website.
Thank you for your answers Anna, we’ll let you have the last word
I’m happy with this first acquisition, I’m keeping my fingers crossed that everything is going well. I don’t intend to stop there since I’m constantly looking for new goods. Dear members, your experience, your opinions interest me. I am very happy to be part of this collective. Thank you to all those who devote themselves to make this site what it is !