Tenant Rent Payments
Under Queensland Legislation, tenants are permitted to pay their rent as often as they like – as long as they do not fall behind. There is no requirement for tenants to stay one or two weeks in advance ‘at all times’ and this cannot be written into the lease. Normally, tenants tend to pay weekly or fortnightly. A small percentage pay monthly.
Rent Arrears Management
To protect your rental income, Solutions Property Management has a very strict and proactive policy on rent arrears. If your tenant becomes 3-5 days behind in rent, we contact them by phone or SMS. If they become 6-7 days in arrears, we send them an urgent email and call them. Once they are 8 days in arrears, we are permitted to take the first legal step, which is to issue a Notice to Remedy Breach (RTA Form 11), giving the tenants 7 days to pay up to date. We advise the tenants of the implications of not prioritising their rent payments and try to assist them get back on track. If the Breach is not remedied, we issue the tenants with a Notice to Leave (RTA Form 12). Your Property Manager will then discuss with you the process of eviction and finding new tenants for your property. You are copied on all correspondence to the tenant and kept fully informed.
Our Owner clients enjoy disbursements (rental payments into their account) on a fortnightly or monthly basis. This will occur on the 15th or the 1st of every month.
To simplify your accounting, we issue statements on the last Wednesday of the month. This itemises all transactions that have taken place since the last statement. All invoices paid during the month are attached to this statement.