Landlord Update from our PM Team

2nd March 2020, During this difficult period we want you to know that we are here to help.  We are working with the Residential Tenancy Authority (RTA) and relevant Government Agencies as quickly as we can to provide you regular updates.  

We have asked all tenants to please keep the communication lines open with us so we can help keep everyone updated. We still have not had any changes to legislation pass and our message remains clear, you need to keep paying your rent.

We are reminding tenants that many landlords have also lost jobs and income and while they are sympathetic to tenants hardship, the banks are only offering deferred payments and their costs will not be waived or reimbursed through government subsidies.

In the circumstances where the tenants have legitimately lost income we have developed a hardship COVID-19 Application Form.  Each property, landlord and tenant situation is different and needs to be handled differently.

OVERALL CURRENT SITUATION TODAY

To date (2 April) we have had very minimal requests from our tenants regarding financial hardship, however this could change quite rapidly. We will continue to monitor closely and keep our landlords up to date.

We have provided information updates to tenants already which include links to assistance packages and support. See below for some additional considerations for landlords if your tenant is unable to make rental payments. 

TENANTS PAYMENT OF RENT

The Act doesn’t address pandemic situations, but we are in uncertain times and will await direction from the Federal and State Governments. We still have not had any changes to legislation pass and our message remains clear, you need to keep paying your rent.

RENT REDUCTION REQUEST FROM TENANTS

Some tenants have requested rental reductions with our owners to temporarily release the pressure. In these instances, we are very clear of the amount and the duration with a clear end date or review.

RENT DEFERMENT

Offer a reduced payment now, but the tenant will have to make up the shortfall at a later date. Again, we have very clear written instructions and agreement in place to ensure there is no uncertainty about the terms of the agreement.

We are also mindful of the lease end date as it can be difficult to obtain the outstanding money if it exceeds the bond amount held in trust. 

RTA

The recently announced COVID-19 Rental Grant is a one-off payment of up to 4 weeks rent (maximum of $2000) available to those affected by the COVID-19 pandemic who do not have access to other financial assistance. The grant is paid directly to your lessor and the tenant makes the application. We will provide updates as more detail is made available to us.