Two weeks ahead in rent?

[phm]

Hi there.

I was looking at the RE report on our property and realised that the tenant is not two week's ahead in the rent. The tenant was when the agreement was first signed. The agent said that they "legally" don't have to be, but we can put it in our next tenancy agreement if we want.

I just wondered what others thought?

 

[JoannaK]

Your agents are correct. The lease simply states that the tenant must pay rent on the due date and in advance. It does not say that they are required to be 2 weeks in advance all the time.

As long as they pay when the rent is due, they are doing the right thing.

 

[phm]

Hi there.

Thanks Joanna for your reply. I wonder if it would be better to have two weeks ahead in payments, simply for peace of mind.

What are yours and others thoughts on this?

 

[Kevin Hockey]

Fantastic idea in theory Gemini but probably difficult to implement.

We do have some tenants who keep their rental payments in front but they are rare. I think if you can have your tenants paying on time all the time you are doing well and can probably be satisfied.

The 4 weeks bond is meant to be your safety valve, granted this is not always enough.

Kev

www.nundahrealestate.com.au

 

[asy]

phm

I am now writing 2 weeks ahead into all the leases I write.

However, irrespective of this, we still can't send out notices to remedy for rent arrears until they are actually in arrears. It's silly, but it's legislation.

asy

 

[D.T.]

Hi asy,

I disagree that it's silly. I wouldnt like to be kicked for 'only' being 1 week in front, let alone being even. Don't you think that'd be unfair?

-Regards

Dave

 

[Brenda Irwin]

I was wondering wether this would work in terms of having rent in advance?

Say the rent is $300 per fortnite and the tenant agreed, one week into January to pay an extra $12 per fortnight rent.

After 50 weeks there would be a Rental Credit of $300 or a whole fortnites rent. The tenant then wouldn't have to pay a payment of a fortnites rental right on the xmas-new year period.

Does this sound ok for a pm to implement?

 

[asy]

Originally posted by dtraeger2k
Hi asy,

I disagree that it's silly. I wouldnt like to be kicked for 'only' being 1 week in front, let alone being even. Don't you think that'd be unfair?

-Regards

Dave

Dave,

I didn't say I wanted to kick them out, I said I wanted to remind them that they weren't as in front as they should be...

It's a hell of a lot easier to catch up one week than three.

asy

 

[miket]

up the rent

But what about new lease (6 mth) with our first time renters paying 3 mths in advance. No PM but with all the typical legal docs sorted. Hang on, have to pinch me self again.

over........

 

[D.T.]

Hey miket,

Would I be able to borrow those tenants of yours for a few years?

-Regards

Dave