Property Management

Rent Collection & Payments

WE TAKE CARE OF COLLECTION AND PAYMENTS

When we manage your rental property we take care of the rent collection for you.  Here are answers to the most commonly asked questions regarding rent collection.

When does the rent get paid?

We collect your rental income and deposit it into a bank account nominated by you monthly.

How do you collect the rent payments?

Our policy is to collect the rent by direct deposit into our trust account.  We require all tenants to set up automatic payments to this effect.

What happens if my tenant does not pay?

We have a Zero Tolerance policy towards rent arrears. If a tenant does get behind in their rent payments we follow an exemplary process alerting the tenant immediately and following up daily.  We issue both a Breach Notice and an Application for Order of the Tenancy Tribunal within 7 days if the tenant does not make their payment directly after being notified.  These actions usually result in an immediate reponse of payment from the tenant (usually there is a genuine reason for the lapse and they are quick to remedy the problem).

We request 4 weeks rent as a bond – this is the maximum amount we can request under the Residential Tenancy Act, so we can at least minimize any shortfall.

We would advise all landlords to consider adequate Landlord Insurance to cover in the eventuality of tenant/rental non-payment.  

For more information about Landlord Insurance please contact one of our Property Managers.