Yes and no. The correct legal answer is “no” (Globexs cannot be held liable for non-payments), but in practice payment problems are very rare in the expat rental business, due to the nature of this type of rentals and the profile of the tenants. On top of this, Globexs counts with a legal department that takes immediate action if necessary.
The tenant pays late
There are 2 payment days per month: on the 5th and 20th of each month. Globexs will pay the monthly rent to the owner on the 5th or 20th of the month. If Globexs has not received the payment of a tenant on the due date, the payment to the owner might be delayed. In case of a delay the tenant is contacted by the Globexs lawyers. In extreme cases this may result in a cancellation of the contract and the tenants is asked to leave the property. Globexs cannot be held liable in any way to the owner for the fact that the tenant has not paid the rent – temporarily or permanently, but the Globexs legal department will take all the legal actions necessary to prevent payment problems.
The tenant does not pay at all
This is a very rare and extreme situation. In case of payment problems the Globexs lawyers immediately get involved, and a solution is negotiated with the tenant. The standard Globexs rental contracts can be cancelled by the owner when a payment is 15 days late. Again, because of the nature of expat rentals and the profile of the tenants, this situation almost never occurs.