Random rent payments

Bazza

Bazza

Hi Guys,

We have a married couple that have leased one of our IPs for over six months now. They seem nice people and really look after the property but they are always late with rent. Generally, they are a week or two behind which doesn't worry us but recently they were 4 weeks in arrears and promised to pay the rent on a particular day. The day came and they only paid half so we sent them a 'Notice to Remedy Breach' and they paid the remained within the 7 days specified.

That was over three weeks ago and still no more payments despite a friendly email reminder last week.

Any ideas on how I should approach this situation? As mentioned, they do look after the property so I would not like to force them out.

Cheers,

Bazza
 
Bazza said:
Any ideas on how I should approach this situation? As mentioned, they do look after the property so I would not like to force them out.
Click to expand...

Yes, get rid of them. :)

Looking after the property is one thing - which is what they are obligated to do anyway. paying their rent on time is another - and they are failing on this crucial issue.
 
Bazza

The fact they look after the property is not above and beyond the call of duty, that is what they meant to do, like paying there rent on time, advice would be to start the process to vacate, by reading your post it sounds like you self manage. Make sure you download the rules and regulations on what steps to take for your state and get them out the right way.

Jezza
 
I'm all for giving someone a break when they are in genuine difficulty, but these guys (despite the fact that they seem "nice" and they "look after" the property) seem to be on a very slippery slope. Seen it happen before. Maybe it's gambling or some other addiction but there is something amiss.
It won't get any better.
There are hundreds of tenants out there who tick the "nice" and "look after the property" boxes who also put a big tick in the "pay rent on time" box.
You know what you need to do. Just do it before it gets even more out of control and causes more pain to both parties.
 
Thanks Guys,

Yes it seems I have to do it. I am aware of the process:

1. Send another Notice to Remedy Breach
2. If they breach the agreement more than twice in a one year period I apply to the Tribunal for a Termination Order and a Warrant of Possession

Thanks for your opinions.

Cheers,

Bazza
 
I'd suggest you get your PM to talk with them, along the lines of:
"Look, the owner is really pissed off that the rent is late and wants to terminate your rental, I've managed to get another chance for ya so help me out here, otherwise I have no choice".

And instruct him the minute they are 2 wks late to have a termination notice handed to them or sent registered mail the next day.
 
Piston Broke said:
I'd suggest you get your PM to talk with them, along the lines of:
"Look, the owner is really pissed off that the rent is late and wants to terminate your rental, I've managed to get another chance for ya so help me out here, otherwise I have no choice".

And instruct him the minute they are 2 wks late to have a termination notice handed to them or sent registered mail the next day.
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i read it he is self managing or in this case self non managing.

self managing is something i can't do as way too soft, you need a certain personality and i think bazza it does not suit u either
 
I'll echo what others have said. You not only have to issue notices, Bazza, but you should issue each notice on the first day that you're able to under the law, or you may be jeopardising your landlord's insurance (though I'm suspecting you may not have that). Also, if it does all turn ugly and you have to get them out, obviously any delays in issuing notices directly turn into delays in you having your asset returned to you, and increase your lost rental income.
 
I'm with the others here, we have had this situation too and we would always cut them some slack but at the end of the day you are not running a charity, this is business. If you're a bit of a softy get a manager, that's why we have one. I am waaaaay too soft.:)
 
Hi Guys,

Yes I do self manage, I do have Landlords Insurance, I am a bit soft and I have had my share of challenges over the years but at the end of the day I will be the winner.

I am also a successful business man and have learnt that it pays to be diplomatic.

Anyway, the tenants have now paid the rent so I will have to leave the action til another day.

Thanks again for all the input.

Cheers,

Bazza
 
paying rent in a random way, would be a breach of their tenancy lease agreement. unless yours is worded to permit payment in that manner?

they are not keeping their side of the agreement, can you afford to leave the situation as is?

it does not sound satisfactory. would they get away with the same behaviour if the property was being professionally managed?

nip it in the bud.
 
Bazza said:
I am semi retired so I have the time now to self manage. Why should I pay a PM $1500 per property for something I can do myself?

Cheers,

Bazza
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surely u could have created more than $1500 in income by doing something else than chase up this rent and deal with issues, what value do u put on your time?
 
Bigtone said:
surely u could have created more than $1500 in income by doing something else than chase up this rent and deal with issues, what value do u put on your time?
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May be I enjoy it. Normally it is a breaze and the properties just run themselves. It is probably only once a year I have an issue like this.

Cheers,

Bazza
 
Hi, I'd say you're doing well. Even with managers, 3 weeks' late rent can be an occurrence & if you can make $500 per month on management, there's no need to work for someone else.

Keep up the good work.

KY
 
Bigtone said:
surely u could have created more than $1500 in income by doing something else than chase up this rent and deal with issues, what value do u put on your time?
Click to expand...

Bazza is doing what he needs to do.
Having a PM is no guarantee of payment..as we can all read here on SS.
Bazz says he is semi retired, so keeping as much of his rent as possible, is his job.

Good work Bazza.
We self manage too.
We always have someone late.That is life.We give them a chance and most bounce back. When they don't..they go
 
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