Hi, I’m Heather Jopson from Beyond Property Management and welcome to another of our Frequently Asked Questions Landlords Tips Series.
Today we’re going to talk about rent arrears because a key concern, naturally, for landlords when they’re going to rent out a home is “what happens if my tenant stops paying the rent and what are you going to do about it?”. So, it’s really important when you’re talking to a property manager and getting a feel for who they are, that you understand two things around their rent arrears. And that is procedure, and communication.
At Beyond Property Management, receipting is done every single day. Arrears management is the first job of the day for our team as soon as the receipting’s done reminders and messaging communication out to tenants if they’re in arrears, polite communication to say “Hey, what’s happening with this?”.
And then under Queensland tenancy law, a breach notice is issued to a tenant when they are seven full days in arrears, so on day eight. And it’s really important that there’s no flexibility around that. That breach notice must be issued on time and the process must also be followed through because otherwise you may be putting your landlord insurance at risk. So, it’s really important that you’ve got a property manager that’s going to follow a strict process. But also, a part of the procedure is that their keeping you in the loop, so you know what’s going on as well. So, just ask them some deeper questions around the arrears management process if you’re looking at choosing a property manager.
And if you ever got any questions for us, of course, we’re always happy to answer them as well. Thank you.