What are your opinions regarding the optimum time to wait after non-payment of rent before issuing an eviction notice?
How often is it worth being compassionate and allowing tenants to stay in the belief or hope that their fortunes/attitude will change and they will pay back the arrears and return to normalcy?Hi Soma
Why dont you post exactly what your situation is with your tenant, assuming that this is a current situation you are in so we can give you a better opinion on how to act. Every Tenant and situation is unique and needs to be approached with this in mind.
Regards Rachel
Don’t just sit there and say YES BUT. JUST DO IT!hi Soma
I made a posting a few months ago about my situation.
The tenant was behind about 1.5 months. He knew he was on the way out, he lost his job, had no money etc etc. In the end, he just left one night – never to be seen again. I now have the debt collectors chasing him.
I wouldn’t wait too long. After being 2 weeks behind, ask them to start paying an extra $20 per week until they catch up. If they don’t send them a letter asking them to leave. That may shock them into catching up.
is this a wrap or lease option? Whih state are you in?
Terryw
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Thanks TerryW and Rachel.
It’s a hypothetical lease-option situation.
My path towards an investment property soon seems clear, but I want to be prepared in case I have to act quickly.Hi there,
Steve said at the Masters to try and get a win win situation for all concerned but I guess sometimes that is not possible. I had a rental property a couple of years ago and my husband was looking after the rental etc, big mistake. The tenants got behind about 6 weeks in rental and did a runner, and the place was filthy when we finally got in there. When we do positive gearing now we will have them managed and try win wins but I wouldn’t give much room to move anymore. Lesson learnt!Rental managers, I use for all properties are very good at chasing up late rents, since their commission is involved.
I had two tenants always late, one eventually did a runner, the other one we finally evicted (gambling problem).
He was sent an unpaid gas bill of over $1000.
The bank never waits for its mortgage!
Don’t give them too long!
You have abusiness to run and persistent late payment are a bad sign that the tenant is financially in trouble and or not reliable.Hi there,
I think Steve mentioned there is a 21 day grace period before eviction notice comes into effect. Perhaps we could check with him at some stage.
Cheers
Sooshie [
]“Giving is a Blessing, receiving is the bonus”
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