Hey guys,
Has anyone heard of landlords being paid by the Public Trustee??
I am looking at purchasing some units, and as the tenants of all the units have some handicap / disability, I have been told that the Public Trustee is paying for the rent.
Apparently, there has been no problem with tenants being in arears, and the prop manager says rents go in the bank before it is actually due.
He told me that he will be managing the property, but the Public Trustee is actually managing the tenants (as they can't do it for themselves).
What I want to know is that since there is a third party in the equation (i.e. the trustee), does this have any ramifications if I increase rents, evict tenants for breach, etc. (i.e. since I actually get paid by the Trustee) Would these guys be the tenant....I figure no......, would they be responsible for the upkeep of the property, would they be liable for damages, should they be on the tenancy agreement, etc)
Thanks in advance.
Cheers,
Has anyone heard of landlords being paid by the Public Trustee??
I am looking at purchasing some units, and as the tenants of all the units have some handicap / disability, I have been told that the Public Trustee is paying for the rent.
Apparently, there has been no problem with tenants being in arears, and the prop manager says rents go in the bank before it is actually due.
He told me that he will be managing the property, but the Public Trustee is actually managing the tenants (as they can't do it for themselves).
What I want to know is that since there is a third party in the equation (i.e. the trustee), does this have any ramifications if I increase rents, evict tenants for breach, etc. (i.e. since I actually get paid by the Trustee) Would these guys be the tenant....I figure no......, would they be responsible for the upkeep of the property, would they be liable for damages, should they be on the tenancy agreement, etc)
Thanks in advance.
Cheers,