TENANT RENTAL PAYMENTS AND LANDLORD MORTGAGE PAYMENTS
If you are a residential tenant or landlord, here is the latest information you need in relation to your rental/mortgage payments during COVID-19.
As stated by the Victorian Premier, Daniel Andrews, on 30th March 2020:
“… National Cabinet has agreed to a moratorium on evictions for the next six months for residential and commercial tenants who are experiencing financial distress due to the impact of coronavirus. This will apply across all states and territories.”
(To view the full statement, click here)
This means landlords are unable to evict their tenants for the next six months if rental payments are late due to impacts from COVD-19.
Of course, this does not mean that tenants will be waived from paying rent entirely. They will still need to pay for rent eventually.
It is recommended that tenants notify their landlords as soon as possible, in writing, on their situation. And hopefully, some sort of agreement can come into place between the landlord and the tenant.
But it’s not your typical handshake type of agreement! It will be a verbal or written agreement! Remember, social distancing allows for NO HANDSHAKES!
(Image sourced from here)
Landlords are also able to ask for up to six months mortgage payment referral from their banks, especially if late rental payments will affect their mortgage payments.
BUYING OR LEASING VIA PRIVATE INSPECTIONS
No matter if you are looking to sell, buy or lease, here is the latest news in regards to inspections.
All open inspections and open auctions have been banned.
Private inspections are still allowed, given the rules of social distancing are obeyed, and notice is given to the tenants 24 hours beforehand.
(Image sourced from here)
Due to the rules of social distancing, only two people are allowed inside the property at any given time during the private inspection. They must also respect the 4 sqm per person rule (keeping at least 1.5 meters apart).
No matter how many people want to view the property, only one person can view it at a time with an agent.
This may be very time-consuming, but those are the rules. Have a read at this story, to see how long it took 39 groups to view one property in Croydon!
Many agencies are also opting for virtual tours or prerecorded inspection videos.
This allows for a potential buyer or tenant to have a look at the property online first. And if they are still interested, they can proceed to book a private inspection.
This method not only saves times, but also prevents any unnecessary contact between agents, potential buyers/tenants, and tenants residing in the property.
Let’s all stay safe.
Spread the message: Stay At Home.