Tenant (in Victoria) stopped paying rent in February before covid-19 hits hard. With the current 6months moratorium on eviction, he is basically staying rent free while not communicating with the agent. We have already indicated to the agent that we are happy with alternate arrangement or discount on rent during this difficult time provided he communicates with us. Agent has already put in an application to VCAT (not sure whats going to happen).
Background: tenant rented for the last 18 months and lately rent has been delayed by 5-7 days minimum. We have allowed him to pay fortnightly instead of monthly when he requested.
We are happy to weather some of the loss for now. But this cannot go on for 6 months can it? No rent payment while being protected from being evicted? Surely there must be a consequence…
- so our agent has informed us that as this occurs before the moratorium /covid-19 situation - VCAT hearing will still proceed this friday and tenant has not indicated /communicated that he’s in financial hardship due to the virus
in terms of mortgage repayment our broker has told us not to freeze repayment if you can afford to as it will cost you more in the long run
many comments do suggest that landlords are loaded - yes some are but not us - we are both mid-30s and wife is currently stay-at-home awesome mum with 3 kids. I am working 5-6 days week also struggling with low market confidence.
landlord insurance in place - it can only be claimed once eviction noticed is issued (it will cover lost rents from the date of eviction). So if notice is issued this friday - we are already out of pocket from February to March.