When it comes to dealing with rent arrears, Colleen Topping, director of Home & Co., has three proactive tips to address this situation.

1. Deal with any arrears as soon as they happen. Don't wait to see if the tenant will pay a day or two later. Send them a message saying that the rent has been missed and needs to be paid on the first day it is overdue.
2. Make sure your rent ledger is up to date. It is a legal requirement to keep a ledger. If you end up needing to go the Tenancy Tribunal to address rent arrears, you will be required to submit this with your application.

3. Don't listen to excuses. While we can all be empathetic, set up a repayment plan in writing if the tenant can't pay the arrears in full. Ask them to pay what they can. Send the 14-day Notice of Arrears when rent is 4 days in arrears. Don't wait longer.

If you’d like to know more about the professional property management services offered by Home & Co for Wanaka property owners, simply contact us any time and we’ll get back to you very soon.