Oracle Owners and your property at a glance
Our team would like to lead with a heartfelt thank you to our owners and tenants for their absolute understanding in all of our interactions to date. At such a stressful time for many, no value can be placed upon the health & safety and wellbeing of yourselves, tenants and our team. It has been nothing short of remarkable.
We also felt that a snippet of a few key areas might help at this time when there is a bit of an overload of information each and every day.
Disbursing Rent
Receipting rents and disbursements to owners.are unchanged.
Rent Arrears
We have a clear protocol and this has meant a controlled and calm environment for everyone. Clear heads, clear processes and consistent communication with our tenants has been and will be key. Tenants know how to access the various financial assistance available and we are able to guide where required or needed.
If a tenant finds they do need to reduce their rental payments, a hardship form is completed to demonstrate their change in circumstances to assist our team and an owner agree on what the rent can be set at and the payment plan to address the arrears at the end of the agreed period. Expectations are clearly set out.
We also understand and have ensured tenants understand that owners may also have had their own circumstances change and this will be a factor in what can be agreed upon with the tenant.
Changes to Tenancy Law during COVID-19
The Residential Tenancies Act states that a tenancy can be terminated at 21 days in rental arrears, this has been extended to 60 days effective immediately. It covers an initial 12 week period and may be extended after a review.
Fixed term leases that roll off will become periodic agreements. There are no plans to review this.
Rental increases cannot be given after March 23rd 2020 for 6 months. This will be reviewed and possibly extended. If tenants were notified prior to this date of a rental increase and it was not effective as of March 26th, it cannot be enforced.
Notice to terminate a lease or end a periodic tenancy is not possible until 26th June 2020. Tenants can end their tenancies under the normal conditions.
Letting a property
Tenants are unable to move in or out of a property during alert Level 4 but may move once in level 3 following the government regulations. We can conduct letting under strict guidelines which will lengthen this process unfortunately.
Routine Inspections
All routine inspections with tenant assistance using the same report format but outlining they were conducted under COVID-19 conditions for insurance purposes.
Repairs and Maintenance
Urgent or emergency repairs are essential services under alert level 4. At level 3 under strict protocols, repairs and maintenance can be addressed.