Supporting tenants during the COVID-19 outbreak

Being tough on your tenants that have financial difficulties at the moment would be very short-sighted

Here are some tips from us at RealRenta, on how to navigate this tricky time and support vulnerable tenants:

·     Find out if you can defer your loan payments for a period, whilst your tenants are not able to pay their rent.

·     If you have an interest only-loan or negative equity/no equity in your property, negotiate with your bank to pre-pay the interest this financial year at a lower rate than what you are currently paying.

·     Claim a tax deduction for any interest that you do pre-pay

·     Communicate regularly with your tenants and record all conversations on the RealRenta platform to form part of the tenancy file

·     If you do adjust the rent, make sure you reflect the change on your RealRenta ledger, contact jason@realrenta.com if you need help with this

·     Encourage your tenants to take advantage of government incentives and refer them to this link: https://www.servicesaustralia.gov.au/individuals/subjects/affected-coronavirus-covid-19

·     Be prepared to be flexible because it may get harder to find good tenants if this crisis escalates

For more information on how to contact us, see our article RealRenta National Support Team: https://www.realrenta.com.au/blog/post/577


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Marlene Liontis
Monday, 30 March 2020

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