As the COVID-19 situation continues to evolve in Australia and globally, we would like to update you on announcements from last night, 24 March 2020, and to provide you with information regarding how we are operating aspects of your properties.
Pure Real Estate is taking an informed approach that is being guided by advice from Australian health authorities and the Queensland State Government to provide continued Real Estate services. Below outlines our current approach to the ongoing risk.
COVID-19 Impact on Open for Inspections
The Government announced that all Open for Inspections are now banned. We will still be able to host virtual property tours and private inspections for now.
If we need to host private inspections, please be aware that we will liaise directly with your tenants to identify a good time and we will work to minimise risk to them and potential tenants.
Our approach to letting a property will now be:
At the inspection, we will:
If the prospective tenant who is pre-approved does not proceed with renting your property, we will withdraw the application.
COVID-19 Impact on Maintenance
We are currently working to prioritise all recent requests of general repairs or maintenance that remain outstanding for us to manage high risk issues first in case of a complete shutdown.
We emailed all our Contractors today to request the following:
We kindly request that you help us to action maintenance requests we may put to you quickly so that we can ensure safety of your properties for your tenants.
For all tenancies that are on periodic agreements or have leases ending between now and 31 July 2020, we will be sending out lease renewal information in the coming weeks.
We realise it is an uncertain time and we want to work with you to help provide your tenants some certainty of their home arrangements as soon as we can.
Please start to consider now what you intend to do so that we can speed up lease renewals as we work through them.
We are continuing to understand how we will manage tenancies that fall into financial hardship in this difficult time. It is still expected that the Government will provide further information regarding relief for rental payments this week.
While we understand that it is a stressful time for many, we have asked all tenants continue to make regular payments. For those who have lost income, we have requested they communicate with us quickly so we can talk to you about their circumstances and work together through these unusual times.
We have provided the tenants with contact information for the RTA for Centrelink for discussing their options.
Rent Relief and Mortgage Relief
The Government has yet to make an announcement regarding payment relief for rent and mortgages. We have had a very high volume of calls from owners offering help. We ask that you allow us to receive other calls in this time and we will contact you if your tenants request relief.
We also highly recommend that before you consider relief, talk to your bank and insurance companies. At this point in time, you may still accrue interest on your mortgages if you obtain a deferment and you may not be covered by insurance for loss of rent if you provide tenants relief.
We stress that this is ever changing, and this may not be applicable tomorrow.
With an announcement expected tonight, we will be discussing the impacts with professionals in those industries to provide you with further information.
Our highest priority is the health and wellbeing of our people, our tenants and our communities.
We will provide further information when we have further direction from the Government. We look forward to working together to support you through this time.
Russell Peter | Principal