Feature – Coronavirus COVID19’s Impact on Property
EPI137 | The new world order – Coronavirus and property
Feature – Coronavirus COVID19’s Impact on Property
Is it better to take the banks freeze on a investment property and not rent the property out as a tenant can move in and then refuse to pay rent and the government is putting a freeze on the removal of tenants for 6 months
Hi Karl, I think that action is a drastic action to take. The banks ‘freeze’ is not really a freeze as you would be accumulating interest and it will add to the overall time on your loan and overall payment made over time. A tenant can still be assessed on their ability to pay the rent when moving in and a tenant who claims they have been COVID-19 affected must still provide evidence of this. We manage many properties and have only had tenants in real COVID hardship on a very very small percentage of cases, most tenants have continued to pay their rent.