Ensure you never miss an issue of the
real estate business bulletin
Excuses, excuses

Excuses, excuses

by Deborah Mitchell 0 comments

Over the years, I have heard many excuses for why someone cannot pay rent today or why they are in arrears.

Who is to blame – property managers? Odd; why is it not the tenant’s fault?

If the tenants accept responsibility, then it is their fault. But as we know, they don’t. Someone needs to be held accountable – from the landlord who has a mortgage to the principal who collects fees from the rent monies received.

Property managers often wear the verbal abuse or a tirade of aggressive emails. My question to all property management teams is, ‘What strategies do you have in place when you have identified habitual tenants on your rent arrears list?’.

Often we move them on, and then some other property manager ends up with your problem tenant. Has anyone investigated what other options are available, such as working with financial assistance organisations to help tenants with rental payments? 

You could build a business relationship with these financial assistance organisations. Each organisation has specific criteria that must be met; most of them have a limited resource pool or have other stakeholders that offer additional services. 

I have guided tenants to some of these organisations with success, while others chose not to be helped. Then, yes, I did move them on. Of course, this service should not be offered to every tenant who is in arrears regularly.

But what would your client say of you and your team if you could turn a poor-paying tenant into one who pays on time? Both your client and tenant would become raving fans, only because you took the time to have empathy and compassion.

Everyone can win, but choose wisely. If your curiosity is piqued, don’t forget to share with your contacts. I can be contacted either via email: This email address is being protected from spambots. You need JavaScript enabled to view it. or mobile: 0414 422 863.

 

Excuses, excuses
lawyersweekly logo
promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2017

The REB Top 100 Agents ranking is the foremost ranking of agents in Australia. It has set the bar for excellence in Australian real estate. To be ranked as an REB Top 100 Agent is the standard real estate professionals strive for. See the full 2018 ranking here!

featured podcast

featured podcast
An industry where the resilient succeeds

Tim Heavyside believes that a strong support team and good foundations are paramount to success in the real estate industry, and with regu...

View all podcasts

Would you consider working for Purplebricks or a similar 'DIY' model?

Yes (7.2%)
No (80.9%)
Perhaps - make me an offer (12%)

Total votes: 209
The voting for this poll has ended on: July 13, 2018
Do you have an industry update?