stokie33 Posted June 24, 2012 Share Posted June 24, 2012 Got a friend Link to comment Share on other sites More sharing options...
Guest Guest66881 Posted June 24, 2012 Share Posted June 24, 2012 There should be, and i hope all who get caught doing it pay a lot more than what they actually owed. How would you feel being the landlord owed money? Link to comment Share on other sites More sharing options...
Guest jak2503 Posted June 24, 2012 Share Posted June 24, 2012 i know a guy that left 3 weeks rent owing and phone contracts and utilitiy bills ect, im sure he has had no comebacks as of yet, been over a year now, however im not sure how he stands legally on the debt ect. Link to comment Share on other sites More sharing options...
3FatCats Posted June 24, 2012 Share Posted June 24, 2012 As a landlord myself with dodgy tenants (now left) and numerous stories from a friend who's tenant stopped paying her rent, it is not fair and not funny. Often rental payments go towards paying a mortgage.... Just think Karma Link to comment Share on other sites More sharing options...
Guest The Pom Queen Posted June 24, 2012 Share Posted June 24, 2012 It is totally unfair on the landlords, yes I have known it done, but like 3FatCats has said a lot of the landlords have two properties their own and the one they rent out often with quite high mortgages, if you don't pay you could be setting them up for financial ruin, it's not like a big bank who can take the loss. Link to comment Share on other sites More sharing options...
Guest guest68546 Posted June 24, 2012 Share Posted June 24, 2012 There are so many in this country who are not fit to be landlords or real estate/letting agents that I'd like to hear the entire story and reasons before condeming. Link to comment Share on other sites More sharing options...
Guest The Pom Queen Posted June 24, 2012 Share Posted June 24, 2012 There are so many in this country who are not fit to be landlords or real estate/letting agents that I'd like to hear the entire story and reasons before condeming. That's fine but what about the bills? Link to comment Share on other sites More sharing options...
Rupert Posted June 24, 2012 Share Posted June 24, 2012 There are so many in this country who are not fit to be landlords or real estate/letting agents that I'd like to hear the entire story and reasons before condeming. I don't think anyone did condemn, but the opening post didn't sound like anything more than opportunistic. Link to comment Share on other sites More sharing options...
Guest guest68546 Posted June 24, 2012 Share Posted June 24, 2012 It is totally unfair on the landlords, yes I have known it done, but like 3FatCats has said a lot of the landlords have two properties their own and the one they rent out often with quite high mortgages, if you don't pay you could be setting them up for financial ruin, it's not like a big bank who can take the loss. Loss of rental will have the first few weeks covered by the bond. No great sympathy from me for those involved in the circumstances described. Non-payment is not right but greed can also make people extend themselves; is greed a welcome trait and whose fault is it that they are greedy? If a landlord cannot take the loss of a few months rental they should be asking themselves why they are in it? Loss of rental should be factored into any 'business plan' by the landlord. Link to comment Share on other sites More sharing options...
Guest The Pom Queen Posted June 24, 2012 Share Posted June 24, 2012 Loss of rental will have the first few weeks covered by the bond. No great sympathy from me for those involved in the circumstances described. Non-payment is not right but greed can also make people extend themselves; is greed a welcome trait and whose fault is it that they are greedy? If a landlord cannot take the loss of a few months rental they should be asking themselves why they are in it? Loss of rental should be factored into any 'business plan' by the landlord. Oh that's great news, we can all stop paying our rent and our bills then :wub: Link to comment Share on other sites More sharing options...
Guest guest68546 Posted June 24, 2012 Share Posted June 24, 2012 That's fine but what about the bills? I'd still like to hear the circumstances. In another thread we had a single mother being supported for leaving debts behind, this poster appears to being villified yet we know nothing of the circumstances; where is the consistency of argument? The OP gave no info so how an assessment on whether it is opportunistic or desperate can be made is far from clear. Link to comment Share on other sites More sharing options...
Guest The Pom Queen Posted June 24, 2012 Share Posted June 24, 2012 I'd still like to hear the circumstances. In another thread we had a single mother being supported for leaving debts behind, this poster appears to being villified yet we know nothing of the circumstances; where is the consistency of argument? The OP gave no info so how an assessment on whether it is opportunistic or desperate can be made is far from clear. To be honest the OP hasn't said it's them, so no one is judging them personally, they just asked a question. The single mother on the other thread explained that she had an emergency and needed to get home. Link to comment Share on other sites More sharing options...
Guest guest68546 Posted June 24, 2012 Share Posted June 24, 2012 Oh that's great news, we can all stop paying our rent and our bills then :wub: You twist what I say; I definitely don't condone non-payment. However there have been many cases where tenants who pay on time have been thrown out onto the streets and incurred great expense because their landlord couldn't pay the mortgage....so its a 2 way agreement. There is little in place to protect these tenants so forgive me for not feeling to much sympathy for landlords, although its not right, who get screwed over and find they didn't have the funds to be a landlord in the first place. Link to comment Share on other sites More sharing options...
Guest The Pom Queen Posted June 24, 2012 Share Posted June 24, 2012 You twist what I say; I definitely don't condone non-payment. However there have been many cases where tenants who pay on time have been thrown out onto the streets and incurred great expense because their landlord couldn't pay the mortgage.... but that isn't what the op has said, oh and by the way I'm not a landlord thankfully. Link to comment Share on other sites More sharing options...
paisleylass Posted June 24, 2012 Share Posted June 24, 2012 Not all landlords fit one set of circumstances. We are not all ruthless property developers. I am a 'reluctant landlord', simply unable to sell my property. There are loads out there, I know people who've moved interstate within Australia and had to let their house out. Landlords like us don't have a 'business plan' and yes, we are unable to take the hit of the loss of a few months rent. Link to comment Share on other sites More sharing options...
Guest guest68546 Posted June 24, 2012 Share Posted June 24, 2012 but that isn't what the op has said, oh and by the way I'm not a landlord thankfully. I am a landlord of sorts...I have my flat in Uk! Fortunately I know where to find my 'tenant'...its my sister :wink: but from the outset I took the view that she may not pay (for whatever reason) and I provisioned to withstand several months missing rent. I took a reduction on the rent from her because I did hear of horror stories; not just non-payment. Never mind the unexpected large bills. My brothers friend let his home out to close family and came back to a 6k GBP bill to replace doors, carpets, kitchen, etc. Letting out houses isn't a winner full of riches every time and unfortunately, such is the obsession with rental investment property in this country, its not made clear and landlords overstretch themselves. Link to comment Share on other sites More sharing options...
Rupert Posted June 24, 2012 Share Posted June 24, 2012 I am a landlord of sorts...I have my flat in Uk! Fortunately I know where to find my 'tenant'...its my sister :wink: but from the outset I took the view that she may not pay (for whatever reason) and I provisioned to withstand several months missing rent. I took a reduction on the rent from her because I did hear of horror stories; not just non-payment. Never mind the unexpected large bills. My brothers friend let his home out to close family and came back to a 6k GBP bill to replace doors, carpets, kitchen, etc. Letting out houses isn't a winner full of riches every time and unfortunately, such is the obsession with rental investment property in this country, its not made clear and landlords overstretch themselves. Well that is your sister. Are you happy to hand over thousands of your hard earned to the stranger on the street? One who has not indicated that they are in any kind of dire straits at all? Is this something that you do on a regular basis. OP hasn't been villified in the slightest, it has been a very tame response I think. But people have simply said that it is not right to leave someone else out of pocket, what is wrong with saying that? It is sad that there are so many people in the world who think it is ok to cheat and steal from others. Even sadder when the people that say it is not ok are the ones who have to defend their stance. If you think that it is ok to cheat people out of money then well that says a lot about you. I am another reluctant landlord, I never set out to be a landlord and I don't particularly want to be one. I have prepared myself to have to pay the rent when I can't find a tenant, but that does not mean it is ok to cheat and steal from me. Link to comment Share on other sites More sharing options...
Alaska Posted June 24, 2012 Share Posted June 24, 2012 Not all landlords fit one set of circumstances. We are not all ruthless property developers. I am a 'reluctant landlord', simply unable to sell my property. There are loads out there, I know people who've moved interstate within Australia and had to let their house out. Landlords like us don't have a 'business plan' and yes, we are unable to take the hit of the loss of a few months rent. Yes, us too. We bought one property to renovate and sell JUST before the crash. It was in negative equity and we couldn't sell (despite trying as it was decreasing). We had to let it out. It is still worth less than the mortgage on it. Our home is being let out due to being on a 457 visa. We will sell if we can get PR in 2 years. The rent just about covers the mortgage. Link to comment Share on other sites More sharing options...
3FatCats Posted June 24, 2012 Share Posted June 24, 2012 Not all landlords fit one set of circumstances. We are not all ruthless property developers. I am a 'reluctant landlord', simply unable to sell my property. There are loads out there, I know people who've moved interstate within Australia and had to let their house out. Landlords like us don't have a 'business plan' and yes, we are unable to take the hit of the loss of a few months rent. Me too, it is a necessity and not a plan and certainly not a business!! Link to comment Share on other sites More sharing options...
Guest Nickyjrowland Posted June 24, 2012 Share Posted June 24, 2012 Hi, I am a landlord in the UK but only 1 property a small house I had pre marriage but the only reason for not selling is the fall in housing Market. I don't have a business plan and cannot afford months without payment however, I have had periods between tenants where it has been empty and we have had to pay the mortgage, any land lord should factor this when they take on a buy to let mortgage. That said when we make the move down under we are going to have to rent our house out due to housing market fall but we are having to top up the difference between rental value and mortgage repayments so can definitely NOT afford non paying tenants. What I am trying to say is that there are different circumstances for all who let out their houses some are doing it because the have to and some because they choose to but it doesn't give anyone the right to just up sticks and leave without paying rent or at least highlighting to landlord that they cannot pay and trying to come to some arrangement to repay once they have down sized? There are people out there who deliberately just don't pay because they don't want to and those who really can't afford to, there are good land lords and rip off merchants it's the non genuine and unscrupulous characters that give both sides a bad reputation! Sorry for the war and peace I just don't agree that all landlords can 'afford' for non payment or should just take it on the chin! We are thinking of getting rent protection insurance for our family home though to avoid having this happen to us heaven forbid we had terrible tenants!! Nicky Link to comment Share on other sites More sharing options...
Guest guest68546 Posted June 24, 2012 Share Posted June 24, 2012 Nowhere have I said or implied that I condoned the action of non-payment, I was specifically referring to the Moving 2 Melbourne scenario....which where 2 high mortgages are concerned, it is clear that there is an element of greed involved. It's not mandatory you buy another house should you be moving interstate, overseas or simply another town/city. It is totally unfair on the landlords, yes I have known it done, but like 3FatCats has said a lot of the landlords have two properties their own and the one they rent out often with quite high mortgages, if you don't pay you could be setting them up for financial ruin, it's not like a big bank who can take the loss. I also did not say that all landlords can afford non-payment (nor should they) but they should have a 'safety buffer' to cover eventualities. If a couple of months non-rental causes stress, what is going to happen if an unexpected large repair is needed ie air con, heating, roof, etc. Renting is a 2 way agreement, it should be perfectly correct that tenants are able to check the credit ratings of landlords in much the same way as landlords can check tenants credit ratings. Why should people be at risk of eviction and costs because a landlord is living on a cliff edge with 2 high mortgages to support!!! Tenants being evicted through no fault of their own does happen. On the other hand, maybe I am not putting my point across very well or sympathetically:wink: Link to comment Share on other sites More sharing options...
Petals Posted June 24, 2012 Share Posted June 24, 2012 Having an investment property is like buying shares, they go up and they go down, bad tenants go with the territory and its not a gravy train. You need to have enough money to pay two mortages, if you have not got that then its a gamble. I have a friend who got into all sorts of bother on the gravy train, she bought two posh apartments, she was up to her neck in debt and then the posh tenants ruined the granite breakfast bar, ten thousand dollars to fix. She sold both apartments an got out of it by the skin of her teeth. So landlords, you need to have cash backup, if you don't, put your money somewhere else. Also landlords get the tax relief and this is supposed to compensate them for any loss, damage, interest etc. Ordinary home owners do not get this nor do tenants so please do not moan about being left holding the baby now and again. Link to comment Share on other sites More sharing options...
Guest Nickyjrowland Posted June 25, 2012 Share Posted June 25, 2012 Having an investment property is like buying shares, they go up and they go down, bad tenants go with the territory and its not a gravy train. You need to have enough money to pay two mortages, if you have not got that then its a gamble. I have a friend who got into all sorts of bother on the gravy train, she bought two posh apartments, she was up to her neck in debt and then the posh tenants ruined the granite breakfast bar, ten thousand dollars to fix. She sold both apartments an got out of it by the skin of her teeth. So landlords, you need to have cash backup, if you don't, put your money somewhere else. Also landlords get the tax relief and this is supposed to compensate them for any loss, damage, interest etc. Ordinary home owners do not get this nor do tenants so please do not moan about being left holding the baby now and again. Hi not everyone is a willing investor in the property Market of having to let their house out so you cannot make a blanket statement that people are on a gravy train. I agree that those who buy property for letting purposes do take a business gamble and they should have contingencies in place but those of us that have no choice because selling would leave us in negative equity really don't have the notion of let's board the gravy train. In the UK we don't get tax relief either for loss of rent etc so I apologise as I don't know the Australian tax system yet. Link to comment Share on other sites More sharing options...
starlight7 Posted June 26, 2012 Share Posted June 26, 2012 To do a moonlight is dishonest though, come what may. Link to comment Share on other sites More sharing options...
Fisher1 Posted June 26, 2012 Share Posted June 26, 2012 My husband and I rent out a flat in the UK. When we realised, twenty years ago, that he would not have an adequate pension, we saved like fury for years to buy a flat and pay off the mortgage. The overheads are quite high - management fees, service charges, maintenance bills. However, we do end up with a reasonable sum each month to live on. In what way would you describe us as greedy TopBhoy? Not everyone in buy to let is a greedy b****** I would say that you shouldnt do a runner leaving unpaid bills because it's wrong. Simple really. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.