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First day I put it up so it will change over the next week

Thank you so much for your honest and open opinion and comments. I really appreciate them. I also fully understand your reasons behind your comments. I fully agree that in our role as property managers we are not councillors and this is definitely an topic of discussion that is dealt with frequently in our training and group discussions.

It is also important to understand that as property managers a great deal of trust is placed in us by our property owners. We are required and have contractual obligations and a duty of care to ensure whoever is approved to occupy their properties has the ability to pay the rent and a sound history of being a responsible citizen. We need to understand the difference between being empathetic with our clients rather than sympathetic. It is interesting to note that as we dicussed this topic during our training session, one person pointed out that banks will not approve loans unless the client can clearly demonstrate a solid history of saving, rather than just having enough money in the bank, it is the history that matters.

Whilst each case is different and I agree we are not councillors, we need to look at each case individually and make a decsion based on our contratual obligations to both the property owner and the agency owner.

Have a delightful day Lia…and thanks again for your comments. This is obviously an area we need to pay close attention to.

Smiles,
Jo

I have found in the last 9 years of being in Property Management that most of the defaulting tenants are those who have actually paid their own bond. Not those of the bond loans.

I wouldn’t say no to a bond loan as you don’t know their circumstances and some tenants are quite shy in telling oyu why they require a bond loan.

For example, I have had one recent tenant apply for a property, I know her circumstances. She has just broken up with her partner who is in the defence force. They were in defence housing. Once their relationship was broken up she is given a time limit of only 2 weeks to get out of the house.

So as a recent single mum of two children, how is she supposed to come up with bond and two weeks rent in only 2 weeks with the partner already moved on and forgotten her?

I personally have had to have a bond loan in the past also.

When you apply for a bond loan, the Government deduct about $20 per fotnight from your pay (little, I know). Once the tenancy is over, the real estate is supposed to refund the bond (if it’s to be refunded) to the Government, there is a section on the bond loan for this.

If the bond is partially refunded and the tenant owes money to the Government, they are then demanded to pay the owing amount in full. However, if no money is ever refunded to the Government, they are none the wiser in when the tenancy ended.

In this economical climate, I would never say no to a bond loan. Some people just simply can’t get the amount of money together in such a short time.

If you did say no to the bond loan’s should a tenant then be required to sit down and tell us their story as to why they require a bond loan? No, I don’t think so. There are some things that Property Managers just don’t need to know about the tenants. We need to know whether they are good tenants – by references and whether they can pay the rent – through pay slips and confirmation of employer. We don’t need to know all their personal issues. We are Property Managers, not councillors. Who are we to have the right to decide who is worthy of a bond loan?