COVID-19 Update - Landlords

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COVID-19 Update - Landlords

To Our Landlords, 

Firstly, we reiterate our understanding, compassion and sense of urgency to have information so that we all understand how the Coronavirus pandemic will impact the residential tenancy market.  

We understand the feeling that we are all sitting in limbo, waiting for clarity. We understand ‘that’ feeling, of what if your tenant is one that loses their job – and we also understand it is not only our tenant’s incomes under pressure right now.

However, if we can provide any reassurance it is this – the matters are so complex, any government decisions are so far reaching, that it is reassuring that decisions are not being rushed. 

The below information is current as at 7.30am Monday 30th March, as per announcements last night – Sunday 29th March 2020.

The biggest announcement relating to tenancies – residential and commercial – is that the Prime Minister did state that the states and territories have agreed in principle to a moratorium over the next six month on evictions of commercial and residential property – where the tenant is in financial distress and are unable to meet their commitments due to the impact of coronavirus. 

The coverage and further detail provided last night related to commercial tenancies.  There was no further announcement or changes/impacts to residential tenancies. The reason for this, is that legislation relating to residential tenancies is state-based legislation.  Each state must now consider changes to the legislative framework that governs residential tenancies in their state. 

More information will come in coming days relating to both residential and commercial tenancies.  

For now – rent arrears procedures remain the same. No change to legislation in day-to-day arrears management has occurred – not as at this minute in time. 

As your Managing Agency, our approach remains the same.  We will RESPOND not REACT.  Our role is always to be the unemotional, logical sounding board – to be your ‘legislative sanity check’ – to guide, educate, inform and fight for clients. Our role is also to provide a customer service to your tenant, on your behalf and in your best interest for a healthy tenant relationship. It is paramount right now that we keep all parties communicating openly and respectfully.  Your tenant is also feeling vulnerable and uncertain – and some will react differently to this situation than others.

For now, to provide you as our client some comfort – and in the spirit of providing a calm voice through this chaos – please be assured that a moratorium on evictions does NOT equal a six month rent free period.   We will be communicating that (compassionately) to all of our tenants today – as there is some social media misconstruing of this information going on.  The goal of this moratorium on evictions is to avoid homelessness – it does not mean that a tenant not paying rent does not have a debt accruing.  

We cannot predict what will be the outcome of these pending reviews, we can only provide current information not speculative panic. We remain committed to updating you factually only. 

In this instance, like in many, the nature of our role is that we are often the bearer of unwelcome news.  We thank you again for knowing that while we cannot control the world for you, we will be here to navigate you through this as best we can.

Wishing you all the very best through these trying times. 

With thanks as always,

Aaron and Heather Jopson (and Michelle, Liz, Bianca, Jade and Lauren)

Business Owners – Beyond Property Management

07 3188 7651 / admin@beyondpm.com.au 

If you have any further questions, please speak to one of our Property Managers  on 07 3188 7651

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