I have a problem with my tenant (actually ex-tenant now). They haven’t paid rent for about 8 weeks. My property manager already took them to court and the court decided to evict them (after waiting for weeks) but I still haven’t receive the rent owed. What can I do now? What options do I have?
I’m still owed a few thousand dollars. My property manager says it would be difficult to recover the money since he doesn’t know where tenant moved to.Any advice would be greatly appreciated.
Thanks,
Seanmig
I'm guessing you would have a bond? This would cover some of the rent that is owed to you. If you have landlord insurance, your policy may cover the rest.
Im really sorry to hear that!
Im guessing you dont have landlords insurance?
Does the bond = half of lost rent? so total is only 4 weeks rent?
My opinion starts here –
I wouldnt rely on any property manager, do what you can to find them yourself.. the mail will still go to that address and you might be able to get a forwarding address from the PO? Your prop manager will only go so far with investigations as they continue to get paid either way, it sounds harsh but id also consider getting another manager as tenant screening is a critical process to keep quality IP.. Ask around your area and get some feedback before choosing one..
I'd concetrate also on filling the vacancy ASAP so you dont lose any additional income (if the property was left satisfactorily) has the prop manager had people through yet?
There are bad eggs everywhere, depending on your location and potential tenants you can consider rewarding on time payments with movie tickets etc each 1/4 that way they pay on time every time and if they dont you know something is up.. If it falls behind you call and ask if everything is going ok..
Each to their own but id prefer long term happy tenants for $30 1/4 on the books through the RE!
If they are tight with $$ they know they have something to look forward to as well!
Interested to hear how it goes..
Yes there is a bond but that’s not even enough to cover for the damages done to my property after they left. Unfortunately my landlord insurance doesn’t cover rent default so I’m screwed.
Be sure to change your landlord insurance asap then. You want landlord insurance WITH TENANT PROTECTION which is an added extra that covers things like rental default and malicious damage. Try AAMI.
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
Will definitely do that. Thanks guys for all your input.
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