Hi everyone,
Monopoly I agree with ManicSqush your comment is a reality check and i didnt think it impolite or crossing the line at all. Thanx for sharing it with us it a lesson for sure!!
Its sad to think that these sorts of tenants are still out there and I hope I never get them or those like them in my porporties. Hell not paying the rent’d be bad enough!![crying]
I dont believe in rewarding tenants with anything other than if they pay the rent on time the opportunity to stay on!! Is that being hard coz if it is well then Im hard but I reckon if you give them a gift or not, if theyre gonna go they’re gonna go anyway!!
Pepper
Sorry for joining so late but I just signed up on this website. In my opinion tenants fail to pay rent because they can ie you are softer than the electricity company.
Most intelligent people can see throught the movie ticket thing. In my experience people will not agree to an extra $20 a fortnight rent, with a clause stating that they will get a $20 discount if the rent is paid on time.
The way to go is to be by the book and send a nice letter saying how reluctant you are to do this etc etc but here is your ‘notice to remedy breach’ and I will be removing you at the appropriate time (this is not a threat but because you are such great people and I want you to stay I wanted to make sure that you fully understand etc)
They will come back with the sick kid or whatever story but I give them the same ones back ie I have a wife and kids to support/if the rent doesn’t go into the account the bank can’t take out the repayment and they charge me a fee.
I manage my own properties of course.
If they think you or your agent are soft you will be the last to be paid.
You can read ‘how to win friends and influence people’ and realise that if you stay nice at all times people will cope anything that has to be said bluntly.
My last tenant who had not paid the rent and cheerfully stated over the weeks 1. we were out of town so could not pay it. 2. Oh, didn’t we pay(The rent was $588 a fortnight so apparently they didn’t notice a lazy half a grand sitting in their account) 3. I was working on the car and didn’t have time.
The tenant had been a preacher/pastor for the last 20 years. I sent a wonderful letter to him stating how much I liked him and his family. I mentioned the times they helped me do some repairs etc and added that ‘sadly I have now come to the conclusion that you are now no longer being honest with me’. (..and here is your notice to remedy breach)
By some apparent miracle he came up with the almost $2000 in a couple of days.
Anyway. Be firm and be consistent I say.
2 adult movie tickets ow cost $14.00 each
2 tickets = $28.00
Now 2 tickets every onth = $336.00 pa
This looks like a big expense to me…[confused2]
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Hi guys/gals
I’ve been reading this topic with great interest as i’m about to purchase my first IP next week.
I will have to manage it myself as it is in a small country town with no Real Estate/PM
Anyway, what i’m proposing on doing is having a Direct Debit facility for the rent.Assuming they have a credit card,this will be the way to go as the bank will always pay and the onus will be on the card holder to pay if they have overdrawn on their account. So hopefully this will ensure the rent being paid on time.
Just thoughts and ideas—has anyone else been doing this?and has it proved to be successful?
CHEERS ANITAHey Jo,
Didn’t you have any landlord’s insurance at all?
LuckyoneThanks,
LuckyoneHi Luckyone,
Sadly NO [glum2]…it was my first property purchase, and I was self-managing, probably because I was still young and niave; and believed that people generally will do the right thing. Which in many cases, they do, but one should never “assume” such, and therefore landlords insurance is a MUST HAVE!!!
I have it now, and have done so ever since that experience; would not be without it (or a PM) today!!!
Cheers,
Jo
Hi all
People talk about giving movie tickets as a reward to tenants that pay. You always talk about 2 tickets what if you have 3 tenants or 4 or more? Another thing 1 property may not sound alot $28/mth but if you have 5 thats an extra $140 / mth. How does this sit with the tax man aswell?
Just food for thought. I have asked this question before but do most people really have problems with tenants not paying. We have 7 properties some with uni students in them and rarely have rent unpaid. We fix things promptly otherwise leave them alone. We set fair market rent consider rent increases carefully, and usually have a low turnover of tenants, most of the students staying for the duration of their studies.Hey why stop at movie tickets???
Why not dinner and dancing???
I can just read the rental agreement, landlords sign here:
“you wine and dine, and I’ll pay on time”!!!! [laugh4][laugh4][laugh4]
A workmate just related a story to me about giving tenants a gift.
Tenants were moving out, landlord left them a bottle of wine to say thanks for looking after the property.
Did a final inspection and noticed that the lounge susite had been rubbing aginst the wall and had worh the plaster away at the height of the top of the 3 seater.
Requested the tenant fix the damage…their reply was NO WAY, you just gave us a bottle of wine as a thank you for looking after the property so well.True story….
KPAnita,
Good idea with the direct debit from the creditcard…I called the bank to cancel a direct debit from my card to an insurance company….their response, they can’t cancel a direct debit on a creditcard, it has to be cancelled by the service provider.
I had to contact the insurance company and request they stop direct debiting from my creditcard.
My card and I got no control over it !!Same should apply with the tenant landlord situation I would think..but only from a creditcard account.
Direct debit from a savings account can be cancelled by the account holder…KP
We have given a gift at Christmas time,shame it did’nt seem to help get the rent in on time.
[glum2]
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