Government says tenants don't have to pay rent if under hardship

Let's see how many jobs the government will create in another six months and we're back in the black

 

Think everyone is overreacting to a comment with no plan behind it.

 

true, I think it would be great if Oz followed the Canadian model

i had a thought what happens if a landlord loses their job?

 

Maybe different if its a persons PPOR but if a rental is involved there is no choice. they have to sell-up. Its one or the other because Govt assistance should be about alleviating hardship and not financing or maintaining lifestyle.

 

Then they can claim hardship from their lender.

 

Some of us aren't in any mood for throw away comments about our tenants losing their jobs and having to break their leases. No one deserves to get sick or lose their jobs. No one needs the added burden of being kicked out of their homes through no fault of their own. Some of the attitudes and comments these past few weeks have been ugly.

 

Very sorry. Consider me suitably chastised. That part is not a throwaway comment however. I’m giving you a heads up about decisions that are being made that will soon impact the market.

 

100%

 

Or claim on landlord insurance? obviously loss of rent, just passing the pain around

 

Property investors in Australia already get a helping hand in the form of negative gearing , so they should not really need any more assistance, the whole idea around negative gearing was to stabilize the property market and help out investors during periods when interest rates went up and small profits turned to losses, it morphed into something else over time as the annual losses became bigger and bigger.
Its ridiculous that a seasoned property investor should be complaining about more assistance, when many have sat on property for years and made no attempt to pay of the principal of the loan.

 

Except for new investors, who never though hard about having zero rental income for months on end.

There's reasonable risk management...and then there's the government making you keep a non-paying tenant long term. That's something most investors would never have considered!

 

Qantas seeks to redeploy staff at Woolworths as coronavirus bites

 

Yes, that's something really bad, but worse would be at the same time you have a depreciated, negative-valued asset. Even you decided to sell it at whatever market value to cut the loss, you still owe an outstanding amount. Not sure if that outstanding amount will be charged interest as a personal loan, or something at concessional rate.

 

huge generalisation and Assumptions that are incorrect, dont you love forums

.....seasoned investor or not has nothing to do with this issue, so please dont make it personal

did I ask for assistance? Some of us have worked hard to be self funded in retirement, I live off my rents.

I am concerned about the impact on investors and small business.

Passing the buck is not the answer in current environment
But perhaps this wont happen??

I see many red flags if this is not addressed appropriately, and the devil will be in the detail

i look forward to hearing more on how they will address this

 

thats good to know, but its only the big 4

what about other products??? Just saying

 

payment plans can work, but still comes down to jobs

 

Can we claim on landlord insurance under loss of rent- if the tenant claims financial hardship?

 

Generally if the tenant stops paying rent the terms of your landlord insurance permit you to make a claim after a certain number of weeks has elapsed.

 

And you have evicted them.