How to start this....
This is not just one tenancy , 3 of our long term tenants ( out of 25 tenancies we manage) are having approx 2 - 4 grands ( for each tenancy) water arrears (minus fixed water chargers).
14 days letters have been sent and they are not hiding, they acknowledged to pay, got it in writing, say for an example, some accepted to pay $50 fortnight etc on top of current rent* however it doesn't happened.
They pay current water slow pace $10 -$15pw to water care direct and if any remainder Watercare deducts from our CC registered with them.
Water arrears is only one side of the story. The biggest lost is not just the unpaid water arrears
*Current rent they pay is at least $100 - $150pw (for each property) lower than the market rent.
True, we have been ignoring increasing rents (which we could have done, at least every 6 month by reasonable little chunks for past 4-5 years would have brought it to at least near market rent).
However we were increasing our portfolio plus as some of you too experience, we were busy with couple Property Managers who have been managing us rather tenants and this aspect of increasing rents with some of our long term tenants have been overlooked.
Thus, our immediate/current loss is $450pw for us every week, just from these 3 x tenants alone, by keeping them.
Mathematically I am better off
A) giving 90day notice or
B) bringing them to Tribunal as it continues to lapse the payments for water and having the house in our possession and
C) re letting to newbies easily over $150pw rent.
D) And recovering the water loss, from them is yet another matter and need dealt efficiently.
Any thing you suggest, how/what need done to move forward.
This is not just one tenancy , 3 of our long term tenants ( out of 25 tenancies we manage) are having approx 2 - 4 grands ( for each tenancy) water arrears (minus fixed water chargers).
14 days letters have been sent and they are not hiding, they acknowledged to pay, got it in writing, say for an example, some accepted to pay $50 fortnight etc on top of current rent* however it doesn't happened.
They pay current water slow pace $10 -$15pw to water care direct and if any remainder Watercare deducts from our CC registered with them.
Water arrears is only one side of the story. The biggest lost is not just the unpaid water arrears
*Current rent they pay is at least $100 - $150pw (for each property) lower than the market rent.
True, we have been ignoring increasing rents (which we could have done, at least every 6 month by reasonable little chunks for past 4-5 years would have brought it to at least near market rent).
However we were increasing our portfolio plus as some of you too experience, we were busy with couple Property Managers who have been managing us rather tenants and this aspect of increasing rents with some of our long term tenants have been overlooked.
Thus, our immediate/current loss is $450pw for us every week, just from these 3 x tenants alone, by keeping them.
Mathematically I am better off
A) giving 90day notice or
B) bringing them to Tribunal as it continues to lapse the payments for water and having the house in our possession and
C) re letting to newbies easily over $150pw rent.
D) And recovering the water loss, from them is yet another matter and need dealt efficiently.
Any thing you suggest, how/what need done to move forward.
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