Sometimes despite our best efforts, tenants fail to pay rent for a variety of reasons.
As your Property Managers we must abide by minimum statutory timeframes before serving a Termination Notice upon your tenant. In the case of rent arrears, we strongly urge you to follow your Property Manager’s recommendation to serve the Termination Notice as the recommendation is being made to protect your interests in the event that the tenant fails to pay rent.
All too often investors instruct us not to serve the Termination Notice in the hope that the tenant pays the rent and disregarding the chance that the tenant may vacate the property. While some tenants appreciate the opportunity and take action as a result, many others unfortunately do not.
Upon the service of the Termination Notice we inform the tenant why the notice has been served and let them know the notice will no longer be effective if the rent is paid in full. However we also let them know that if payment is not received, the notice will be enforced and the tenant will be required to vacate the property.
Based on our experience, our best advice is this – if your Property Manager recommends the service of a Termination Notice on your tenant for a breach of the Lease Agreement (such as failure to pay rent) you should take this recommendation seriously and regard it as a business decision rather than an emotional one.