Many thanks for your advice and kind words. I’ve got some good news today. The agent found a tenant for my IP last weekend. I didn’t know until I talked to him this afternoon! He asked someone in the office to notify me but that person forgot. He also told me that the Tribunal ordered the last tenant to pay for the damages. The new tenant will move in this Saturday.

It can be considered a case of “the noisy wheel gets the most oil” like Jerry wrote (I’m not a noisy person). This should happen many weeks ago. I have to admit that some thoughts of selling the IP have come across my mind. It’s a beautiful & less than 2 years old terrace house in the Olympic village in Sydney. Mirvac has done a good job there. It’s negative geared but good capital gains. If I sell now I will not afford to buy another one like that later.

This type is hick-ups tends to keep me up at night because I feel it’s far away & out of my control. Now I’m in the position to buy more IPs & would like to consider Brisbane but still worry about the distance from home.

Regards
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Huey

Thanks Jason,

I’m a softy so I wait for another week. The PM agent promisses to try his best to find a tenant for me this weekend. He was too busy to see us last Saturday but he rang last Monday.

All cleaning, painting & rubbish removing jobs were done before we inspected. The evicted tenant left a real mess. We got back 4 week lease less around $800 bills. He was still 3 weeks behind in rent. The agent is trying to claim back this money. The lease was expired before the incident so I can’t claim rent loss through Landlord insurance. The agent said that I couldn’t even claim expenses for the cleaning, painting & rubbish removing work either.

CGU won’t cover for building & home contents if the property is vacant for over 60 days. It will be 60 days next week.

I just want to sleep & forget the whole thing.

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Thanks Simon & Erika,

He is a property manager there. I haven’t met him but he seems a nice person & overworked. Since I can’t talk to him I fax to him asking for an appointment tomorrow. Last Wednesday we went to the office but he was not there.

I’m just too nice to get angry with anyone. Sometime it’s a weakness but most of the time people are very nice & responsive.

Regards

Huey

Many thanks for your advice.

> Quick question, if the agent claimed back the bond what are they at the tribunal for? Shouldnt it now be a matter between the agent and the insurance company.

I don’t know much about its procedures. There may be good reasons for everything that I don’t know of because I only managed to talk to the agent once. He is over-worked. I will ring the Insurance company to find out more.

> Find a new PM and have them release the place.

In the Management Agency Agreement we signed with them, if we want to terminate their service we have to give them 1 month notice in writing. This means at least another month of vacancy! They didn’t inform us when they evicted the tenant, didn’t forward the inspection report … didn’t ask us before doing anything.

It’s lucky that we didn’t go over our limit when buying IPs so we still can afford to pay the bank without any rental income for few months.

Once again, many thanks

Regards

Huey

While my neck is growing longer waiting for an advice, more problems keep rolling in.

We went to visit the IP on Sat, 9 August & did a good clean up inside & outside the house. We watered the garden. We faxed them what we saw, what we did & requested them to order some missing things.

Yesterday, 3 Sep we went there to water the garden again. The house is still vacant. Today we receive a montly statement from the agency. They deducted from the bond money $495 for Cleaning & Painting, $285 for Remove Rubbish & $28 for Consumer. Trader & Tenancy tribunal. All dated 14 August. The house was the same yesterday as when we finished cleaning on Sat 9 Aug. There were 3 small bags of weed in the bin.

I feel upset! How could they pay for someone to come & did almost nothing! I want to change PM agents but don’t know how to handle without messing up more! The current agent is handling the tribunal case on our behalf.

I just want to sell the IP & forget about property Investment all together.

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Huey