Hi,
We had become friends with our tenants and did not follow up on rent payments when they were in a financial stress situation.
We have sent reminder emails and "Form 11" but did not follow up until the wife left her husband and asked for divorce. We now find out from her that he is "owing a lot of people money" and she suggested to take certain valuable possessions from the house as "covernance" (not sure if spelled correctly, but I mean monetary securities) to ensure I will get my rent.
The husband is out of state working and informed me that my rent will be paid in full by end of the month, that's when he also have the removalist move his stuff.
I have close to 5000 AUD outstanding and since I had the chance to have a really tough word with the wife (who is currently paying back her half of the rent) I am in doubt I get his half of the rent.
Please don't tell me I should not have become friends with my tenants or I should have given them notice long ago - I got the lesson!
However, I would appreciate an answer to those 3 questions:
1. Can I take his "super expensive" fishing gear as security suretyship/ pledge) until I have received all my rent (I have no use for it, but I know that this would be an incentive on his side)
2. I have landlord insurance, however I don't know if the insurance pay me the owing rent and up to what amount; it says "included" in the cover. I am sure there must be a limit for landlord as stupid as I am...
3. Considering that amount of money is usually not owed, what kind of layer should I get? Is there a use of a lawyer, or should I just consider it as "expensive lesson learned"?
Any legal advise would be very much appreciated!
Cheers,
Anett
We had become friends with our tenants and did not follow up on rent payments when they were in a financial stress situation.
We have sent reminder emails and "Form 11" but did not follow up until the wife left her husband and asked for divorce. We now find out from her that he is "owing a lot of people money" and she suggested to take certain valuable possessions from the house as "covernance" (not sure if spelled correctly, but I mean monetary securities) to ensure I will get my rent.
The husband is out of state working and informed me that my rent will be paid in full by end of the month, that's when he also have the removalist move his stuff.
I have close to 5000 AUD outstanding and since I had the chance to have a really tough word with the wife (who is currently paying back her half of the rent) I am in doubt I get his half of the rent.
Please don't tell me I should not have become friends with my tenants or I should have given them notice long ago - I got the lesson!
However, I would appreciate an answer to those 3 questions:
1. Can I take his "super expensive" fishing gear as security suretyship/ pledge) until I have received all my rent (I have no use for it, but I know that this would be an incentive on his side)
2. I have landlord insurance, however I don't know if the insurance pay me the owing rent and up to what amount; it says "included" in the cover. I am sure there must be a limit for landlord as stupid as I am...
3. Considering that amount of money is usually not owed, what kind of layer should I get? Is there a use of a lawyer, or should I just consider it as "expensive lesson learned"?
Any legal advise would be very much appreciated!
Cheers,
Anett