A Rent Arrears Pain

Wednesday 22 Jul 2015

Rent in Arrears is a real pain

One Key responsibility for Investment Property Managers is to ensure that the Rent is paid on time.

We have systems in place that ensures our team knows about any overdue rental payment.

Decisive and quick actions are taken by our team to ensure your rent is paid on time.

Selecting a realestate agency to manage your investment property is more important than you realise.

unfortunately, many people are not aware of the best questions to ask about the performance of an agency before they sign.

A really important question to ask before committing to an agent to manage your investment property is to ask them how many tenants they have on their books? and how many of those are currently in arrears? You will also want to ask what they do to manage that if and when it occurs.

Just ask us! 

We will be really pleased to tell you that we do not have any rent in arrears.

Let me share with you what we do if a painful rent arrears occurs.

At Quinta Real Estate.

  • When a rent payment is one day over, we send a courtesy SMS and phone the tenant.
  • It might be that the tenant has forgotten and this gentle reminder is enough.
  • We also let you know as well.
  • We completely understand that owners have financial commitments to meet and that overdue rent may place stress on your finances to meet mortgage payments.
  • After three days we issue an arrears reminder letter to the tenant.
  • We continue to phone, email and SMS them.
  • We seek out their plan to pay … We follow up on their time line to pay.
  • When the rent is 8-14 Days late, following phone and SMS we issue a final notice of intention to forward a ‘Notice To Vacate’ for non-payment of rent.
  • Day 15, unpaid rent means that we issue Termination Notices and eviction procedures follow.

 

No one wants to get to this point. The tenant does not want to be evicted, the owner wants their rent paid, and our team would like to keep everyone happy. However. The task of managing your investment requires action. We will do everything within the boundary of the law in order to provide you with that quality service that you seek and we will act on any unpaid rent.

 

Are you an owner of a rental property? Are you suffering under unpaid rent? Or even worse, in pain due to the inaction of your agent.

Phone our team to discuss your situation and decide to engage the quality team at Quinta Investment Property Services.