More on Rent Arrears…

Having written last week on “How to Achieve Zero Rent arrears” I was amazed to discover two friends whose rental properties had fallen into serious arrears while being managed supposedly by professional property managers. Sadly we hear the same story time and time again so this was just another example (two more actually) Why would any landlord accept tenants who fall behind in their rent payments. Well example number 1. Owner of a very nice 5 bedroom home under-rented, managed by a property manager who was under resourced to cope with the business, did no inspections in a year, did not review the rents and allowed rent to be in arrears to the tune of $9000?? The question is why? Why does an owner put up with it? They said they didn’t want to lose the tenant in case they couldn’t find another one?? But worse still, they didn’t want to terminate the agreement with the property manager because the property manager was a friend and was cheap!!  Example number 2. Property investor with several rental properties, some managed by property management company and some self managed.  The self managed properties lost $16,000 in rent arrears in one year? Why? The investor could not be bothered to check his bank statements nor did he review rents or inspect the properties. Needless to say we will be offering to turn the situation around in both cases including chasing the rental arrears. As a property investor myself and owner of Quinovic Property Management Parnell I know there is a better way. Contact us Mary Vinsen or David Vinsen and have your property or properties managed professionally.


Comments are closed.