THINKING OF MANAGING THE INVESTMENT YOURSELF? For such a minimal, tax deductible fee, do yourself a favour, put your feet up and allow Next Rentals to effectively manage your investment. Please take a moment to read the following scenario; A gentleman purchased two properties and decided to rent them out. Both properties were advertised for rent by the owner who didn’t receive very much response. In desperation, he accepted tenants on a handshake. No reference checks were done, no form of identification was received. The owner felt he had accepted ‘good people’. This was when the fun started. Both tenants failed to pay rent for various reasons, lack of work, an abundance of bills and general hard times. The owner being the gentleman he was initially felt sorry for the struggling tenants until the problem became severe.
Karen Stehr took over the management of the property and issued ‘Notice to Remedy Breach’ forms to both properties for rental arrears. This led to ‘Notice to Leave’ forms also being sent. Rent remained unpaid and unfortunately the matter had to be handled by the Small Claims Court. The entire process was a lengthy one, leaving the owner without income. Finally, the Magistrate ruled the tenants to be evicted, however this isn’t an immediate process either. A warrant of possession is handed to police, who then formally visit the premise to serve the warrant over a 14 day period. The tenant is then usually given a few days to vacate by police. In this instance a further 7 days occupancy was given by police to the tenants.
Don’t let this happen to you - ‘naughty’ tenants will often target private landlords.
Published on Oct 29, 2013