Hi everybody!
I’ve just got a quick question.. we had a PM managing one of our units up until January this year. My girlfriend called up asking for a complete summary (i.e. every month’s details from the past financial year on one statement) and she was told that because of their heavy work load they’re charging $5 for this service.. now $5 is not much at all to pay but we were just wondering if this was ok/normal ? Even though we don’t use their services anymore we did in the past and I thought our fees would have covered this..Cheers [blush2]
Hi Newgen,
Some will some won’t.
Some PMs charge around $20 for an annual statement subject to your signature on the appropriate clause in the managememt agreement.
I prefer to keep running records so that I know what is coming in and going out and do not need the annual statement as provided by the PM.
Derek
[email protected]Property Investment Support Available. Ongoing and never stopping. PM welcome.
No worries, thanks Derek [thumbsup2] We’ve kept the monthly statements but because we’ve got so much paperwork/receipts we though we’d make things a bit easier for the accountant. Ah well
All this tax stuff is so much work..I changed PM during the year and the old PM actually sent me the yearly statement. Cost me nothing, cost them a stamp but it did create some Goodwill for them.
I only moved because the new mob sponsor my local football club and I organised the sponsorship. They have both looked after me very well.
NEWGEN,
My PM’s send out an annual profit/loss statement with all details of expensiture, at the end of the financial year. I have to pay for another one if I lose that one, but the first one you get should be free, I’d have thought.
kay henry
Yes Newgen, I received my year-to-date statement free of charge, but my pm let me know that next year there will be a fee for this service.
Celivia
My PM automatically sent me an end of year summary and charged me $25 for the privilege. I have written and told him ‘please do not send any more next year because I am a good record keeper’. I hope he remembers. Our church PM also sent out an end of year summary and charged us for it (also $25) – even though I have told her two years in a row that we do not need it. I wrote to her and she apoligised and gave some stupid excuse such as she could not overwrite the ‘system’. This made me very angry as it is such a rip-off.
Babu88,
You are not legally bound to pay for ANY goods and/or services to which you either did not request OR were not notified of. You have the right to seek reimbursement if you have already paid these accounts.
Jo
All this tax stuff is so much work..
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