Non paying tenant - It's started.

Who knows we cannot see his financials.
If you were running a business right now and it shut up shop would you keep paying the regular overpriced lease till your savings were gone.
Not judging you but things are getting ugly very quickly and this looks like it's going to hang around till at least June.
When things get tough people go into survival mode as you are as landlord naturally.
This is going to challenge a lot of people and show their true character.
In the end money is nowhere near as important as a fellow human being.

 

Land tax YEAH
Councils probably not as they are small and well council workers...
Everyone's gonna feel some pain champ, brace yourself and do your best with grace.

 

The corporate watchdog has intervened to stop real estate agents advising tenants struggling to pay rent to withdraw money from their superannuation, warning that those who do so could face hefty fines and jail time for unlicensed financial advice against people's best interests:
ASIC warns real estate agents against advising tenants to access super to pay rent

 

So it’s perfectly ok for landlords to get no income and pay tens in some cases thousands of hundreds of dollars of land taxes to Gladys B and Daniel A and interest repayment to the bank?

Besides if money is not that important, why not pay the rent from the savings? I don’t buy these leftie arguments you make because it goes both ways. In the OP’s case, the tenant should surely at least pay $100/week to show he/she is willing to come to the table, not a blanket “I can’t afford it and Scomo and Frydenberg has said it’s ok to not pay so I’m not paying.”

 

this sux,
I feel there is nothing wrong with saying to a tenant, "you have the option to take your super", so at the risk of minor financial damage to the tenant at the huge cost to the landlords financial situation
once again its landlords getting the label of "rich and greedy",

im sure if it was for a phone bill or dominos pizza account, they would have no problem people using their super

 

Yes I think it is a real stretch to suggest that a generic message with a list of centrelink options they might be able to get and they might be eligible for an option to take super is giving financial advice. Financial advice would be saying that taking super would be a great option for their situation.

If a property manager advises the tenant of their obligations as a tenant under the current residential tenancies law, are they giving legal advice?

 

The solution is simple - if your investment is making you a loss then sell it and move on. Otherwise hold on and deal with the loss.
The amount of entitlement property investors have as a whole is insane.

 

Yes, it is a bit of a stretch (in my opinion). A quote from the letter is..

I really can't see how recommending they "consider" a "possibility" as being advice! If that were the case then every news programme and newspaper has been doling out "advice" on a daily basis.

Maybe listing the possibliities but then simply telling them to seek their own advice would be OK. The ASIC letter reccomends pointing the tenant to moneysmart.gov.au (although don't click on the link in their letter - that took me to moneysmart.com, a for-profit company)

 

PLUS he can get Rent Assistance - a minimum of $93 a fortnight for a single, more with family.

 

HOW SO - do deferred payments become loans at higher interest rates please? I thought the unpaid amounts were just added to the loan balance and spread over balance of loan. This will of course attract interest, but a HIGHER RATE????

 

Lost in the bush. First rule of survival is shelter. Many days without food maybe a couple without water one night exposed to the elements can be the end. Shelter is important people should pay their rent.

 

Except this isn't the bush. This is society and civilisation where governments and society has made the decision that we are not going to kick people out of their shelter like lord of the flies at a time like, so that they can be enabled to by the essentials like food, electricity etc.

 

I've got a tenant who is at the end of their lease - demanding (!) a 40% reduction, and no lease(!!!)
If we have to re-let we'd probably have to go down 25%.

Be interesting to see where we end up ...

 

People can't get a week's worth of groceries from Coles or Woolies and walk out without paying. The government is not offering a moratorium on criminal charges for people who can't pay for their groceries for 6mths -
Yet - landlords.....

 

In NSW? What has your PM said?

 

property investors generally dont have a entitled mentality,

we get the raw end of the deal in so many areas,

if you cant tell the difference between the treatment of a tenant vs landlord, then there is no point discussing

 

If they don't wish to renew the lease - they may give the required notice and leave. If not - lease reverts to periodical and rent stays the same (unless you would like to reduce it).

 

I spoke to a PM today and she said 90% of tenants dont understand that landlords have to pay mortgages as well, most of them once you explain it to them, they get it, but if not explained, they would never have thought about it

surprised me to be honest, I think I knew that at 18 in my first rental

 

Hilarious. How is expecting your counter party to honour a legal obligation an entitlement?