Rent arrears

Next month, we expect 1/2 of our tenants, to be late with rent.
Usually it runs at 1/3 every month.


Right now, we have one playing hide and seek...she moved in a month ago...
I've been watching her movements on her FB page...the stuff they tell you :)
(of course she doesn't know I'm watching)
 
Hi Lil Skater,
Its not as scary as you thought - though I can understand your concern and the picture you might have in your mind. I only do it because we knew the tenants since they were young; and they know we are DEFINITELY NOT RICH and we DEFINITELy do not have as many properties as yours.
I am not a qualified financial advicer, but my experience and age give me a lot of practical examples on good and bad money management. I used a lot of examples in explaning this topic, without explicitlly telling them what to do with their money if that what scares you. When they are not paying rent; its my job to tell them that rent is a priority (as I don't have a PM to do that on my behalf). I don't wagg my finger at them because i know they are learning and if I can help them to be a better money manager after finishing with me, that would be great. They have been renting with me for almost 6 years, now so if they are scared or feel being patronised, they would have left. You would not believe how uneducated some young people are about money and bills. They once have electricity bill for almost $4000 in one quarter, and when they told me, I did spend time with them to show them few common saving tricks and that to you and I are probably just a second nature. I am definitely not rich and if I do get rich one day, I would like to use my richness to help young people to manage their money (not to tell them what to buy or not to buy) but show them how to prioritise.


OMG!! The sheer thought of that terrifies me. But then, we've got a fair few properties!

I can only imagine how some tenants may have a knee jerk reaction to their 'superior' or 'rich' LL sitting down & trying to organise their finances.:eek:

I use PM's for this kind of thing. Out of all my tenants, I may get one or two that fall behind slightly, but the PM's get onto their case quick smart & they pay up pronto!
 
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I can only imagine how some tenants may have a knee jerk reaction to their 'superior' or 'rich' LL sitting down & trying to organise their finances.

I drive over to inspect the property in a 10yr old toyota and always, always leave my Mercedes at home [I wish] ;)
 
I am guilty of peeping at FB of the tenants (hubby and wife) that have problem paying rent during chrispmas period and often smile at the inconsistencies between waht they say to you and their post. Sometime their little kids actually accidentally told me different things in their own cute ways. They are just like kids..but what can you do? As long as they don't trash the place and they catch up with their christmas arrears I am ok.

Next month, we expect 1/2 of our tenants, to be late with rent.
Usually it runs at 1/3 every month.


Right now, we have one playing hide and seek...she moved in a month ago...
I've been watching her movements on her FB page...the stuff they tell you :)
(of course she doesn't know I'm watching)
 
Speaking about car, I drive the 1985 model and that is the only car I have ; my tenants have the 2013 model :) Each fits for purpose.

I can only imagine how some tenants may have a knee jerk reaction to their 'superior' or 'rich' LL sitting down & trying to organise their finances.

I drive over to inspect the property in a 10yr old toyota and always, always leave my Mercedes at home [I wish] ;)
 
Just an update. Notice issued today! By email and mailbox drop.

My other tenants DO NOT have any issues throughout the year.

This guy has been milking it with private landlords it appears and previous ones were not TICA subscribers. I made an enquiry and he did not have a history.

He will very soon if he doesnt clear the arrears in 7 days.

Urge the landlords to subscribe!
 
It was a magical form i think. Got one week rent within hours of issuing form 11. Now next rent is 3 days overdue. Might create a template and change dates!

He obviously was trying me out!
 
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