Suffering from Rental arrears?
If you are having financial trouble and thinking of using your rent money to cover it, then this is the page for you. Take the time to read our information so you can know what are your options if you come into financial difficulties in the property market.
When a tenant signs a lease it is an expectation that they will pay the asking rent on time every month. This doesn’t always happen. Life sometimes gets in the way. That sudden unexpected expenditure that they didn’t see coming, the illness that meant they had to take some time off work or the car that broke down and required a mechanic. These things occur.
Common mistakes made by renters
Most Tenants live hand to mouth most weeks. Pay comes in Pay gets spent on living. But what happens when lives unexpected happen. “ Let’s just take it out of the rent” is usually the first option…
With a little bit of Planning the unexpected can happen and not affect your rent. Put a little aside each week and let it build up for those emergencies. Cause God knows you need a home. A roof over your head, when you think about it $20 per week can add up quite quickly. $50 even faster! And then if the car breaks down you will not have to stress about how to afford the repair and even better your rental ledger doesn’t have to be affected.
However, if you do have to use your rent “don’t use it all”. Try to pay at least half of your rent to keep you covered. Talk to your agent make a payment plan to get the remainder paid off as soon as you can. Don’t ignore it because it will not go away!
How can you get help with a rental arrears?
For more information feel free to give us a call or visit us and speak to one of our friendly property managers for advice, or better yet talk to your own property manager, we are here to help.