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thank you laurencei
I have since found out there is a tenant blacklist database that property managers use to record tenant defaults.
any idea why they are listed there and not on the tenants credit rating where defaults on loans, phones etc get recorded?
why do tenants have there own unique default database? Or do other services have that also?
can some of the finance people explain that?
PM's do often list a default tenant on the National Tenancy Database, not all agents use this so it is not an entirely accurate record of bad tenants.
With regards to the credit rating, I have arranged for some landlords to have a default listed on the tenants credit rating for up to 15 years. In VIC we can engage a debt collector to collect outstanding funds after a VCAT order has been made. They of course take fees from the amount collected. After some time, if they haven't been able to collect much or any money the debt collection agency can transfer the VCAT order to a Magistrates court order. The fees I have seen associated with this vary from approx. $100 - $200 per order. Once this has been done the debt collects interest and is listed on the tenants credit rating for the next 15 years. In some cases I have heard of tenants coming back after 6 years wanting to pay their debt as they want to buy a car or house and can't get the loan because of the outstanding debt.
There is hope, the landlords I have arranged this for have done it purely for the knowledge that the tenant has had some repercussions for their actions.
Your property manager will sort that out for you - and list them in the database. Using your landlord insurance, you'll be covered for rent loss, defaults etc.
My question is why is that your main concern regarding an IP? Focus on property types, financial structures, insurance, deposits, where to buy, reno etc. Dont worry about small things like this
Unfortunately Buzz, the landlord does have to pay additional funds to transfer to a Magistrates court order & to get orders to send out the sheriff, however, by the time it gets to this the property is tenanted again and most landlords are happy to pay the $110 from the rent of the new tenant ($110 are the fees with my current collection agency, however, this varies). Check with your accountant but you may be able to claim this expense on tax??I like that process. Even if the repercussions of the default are not realised by the offenders for years.
With the court order you, is that paid by the landlord? Do landlords after losing rent in those scenarios, are they generally inclined to fork out another few hundred on the court order?
For those who you have referred to a a debt collector, how much success have they had? Usually tenants don't leave any forwarding information, so how do they start to find them?
Hey Azn, I sent you a PM with some advice on your next step but I honestly think the best thing you can do for yourself is get a good PM to manage your property. You've seen the worst side of management and it is that much harder and taking a lot longer due to self managing. Perhaps engage a PM for awhile until you are far more comfortable with the process and then manage yourself.i has to bet the police to spare out some of their time to evict my tenant, i just got them evict yesterday, however when i ask them to pay me the money which they owe on rent and the damage,plus rubbish they left at my house they go to me i get my lawyer talk with you and i ask the police man he said dont ask me i am here just to evict nothing elsemy god i couldnt believed what the world have come to please anyone help me what am i suppose to do now, even i have Vcat order i cant do anything,they willing go and do this to other and live happily on other crying