Tenant 3 weeks behind, what are the possible scenarios??

Viewing 5 posts - 1 through 5 (of 5 total)

mizfitz
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@mizfitz
Join Date: 2013
Post Count: 26
May 1, 2014 - 1:01 pm
Then tenant in my recently acquired first IP is currently 3 weeks behind in rent according to my PM. She has dodged phone calls and isnt returning emails. My PM is dropping in and leaving a notice to vacate. If she leaves gracefully does her bond money cover outstanding rent? (hopefully the property is left in good order) Is there anything else i need to know about this process??
Thank you in advance
Mizfitz
Jamie Moore
Participant
@jamie-m
Join Date: 2010
Post Count: 5,069
May 1, 2014 - 2:43 pm
Hiya
Different states have different laws but I’d assume that she’d be relinquishing her bond if she’s in arrears with you.
We had this issue with an ACT property, the tenant was kicked out and the rent they owed was approximately the same value as their bond. We simply had the bond paid to us – and the rest is history.
Best of luck with it – hopefully it all works out ok. I know how frustrating it can be.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
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Mortgage Broker assisting clients Australia wide Email: [email protected]
mizfitz
Participant
@mizfitz
Join Date: 2013
Post Count: 26
May 1, 2014 - 2:58 pm
Thanks Jaime M, I am hoping for a quick and simple resolution!!
What happens if she leaves peacefully and bond covers rent but there are issues with the property?? ie cleaning and some repairs?? What happens then? Is that claimed for on my insurance??
Jpcashflow
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@jpcashflow
Join Date: 2007
Post Count: 575
May 1, 2014 - 9:04 pm
Hello,
There are a couple of things to consider for now and the future.
1) call you pm and ensure you will get your bond back .
2) have you got land lord insurance?
3)I would be talking to your pm and see what screening process they have used to get this tenant.
4) 3 week seems odd as most tenants pay on monthly cycles.
Jpcashflow | JP Financial Group
http://www.jpfinancialgroup.com.au
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Your first port of call in finance :)
Jamie Moore
Participant
@jamie-m
Join Date: 2010
Post Count: 5,069
May 1, 2014 - 9:45 pm
Landlord insurance might cover some of these issues. I assume you have it? If so – give them a buzz and see what you’re covered off then work out whether a claim is worth it.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone Me
Mortgage Broker assisting clients Australia wide Email: [email protected]