I've already had a tenant get in touch saying they can't pay the rent. They're self employed in a retail business, I've no doubt they're in serious trouble. I worked with the property manager through the weekend. Looked at the LL insurance policy and a few other options as this dictates what can be done.
The LL insurance requires us to commence eviction procedures to be able to make a claim. I don't want to evict them, they're good people. The eviction process could also take months and with little guarantee of getting a new tenant. We're working with them as best we can. We've asked the tenant to pay enough to cover the next fortnight, or as much as they can. This means I can't evict them for the moment and it buys us all a little time.
During that time we've asked them to speak to Centrelink and various charities about rental assistance. I don't want to lower the rent because that reduces both the Centrelink benefit and the amount I can claim if I eventually need to. I do accept that they will likely get behind and I may never recover some of the money.
Fortunately I do have buffers saved. I can go without rent for 6 months if need be. I've been putting money aside for years and it would be a shame to watch it disappear, but this is kind of what it's there for anyway.
What a lovely man - he's not going to reduce the rent because that will reduce the amount of Centrelink assistance the distressed tenant can get. How considerate. And then there's this pearler:
We have international students sharing a house. We pay all the bills, electricity, gas, water etc. We just received a group email saying that they have all lost their jobs and are experiencing financial hardship and hence are requesting a reduction in rent.
These students cannot access Centre Link . I thought that those on a Student Visa had to demonstrate to the government that they had a certain amount of money in the bank to pay for rent , living expenses, tuition and an airline ticket back home , if I am correct ??? These students are only here temporarily, some only 6 months and then go back home. How do we deal with this?
I'd say there's nothing that landlord can do in that situation - and I can't believe that they didn't realise that international students always - ALWAYS - come here dirt poor and plan to work so that they can support themselves. Why else would the majority be coming from places like Nepal and India? Not because they're cashed up, that's for sure.