I doubt I will ever use Stockdale & Leggo’s Malvern Office again under their current Franchise ownership. I would not recommend them to anyone.

I have been paid for the first month, but I am not optimistic about that either given the goings on.

To make matters worse, I have just found out from the first agent that the body corporate is trying to contact me, about noise complaints made about the tenants that moved in, who this second agent recommended with glowing praise about their references.

i.e. the ones that are allegedly friends with one of the property managers at the second estate agents, currently managing my property.

I mean what next ! I am already under the hammer financially due to the stuffing around by the first agent and now I fear more problems from the second agent, who knocked the rent down for the tenants of their choice and leave me with troublesome tenants at their recommendation in less than 30 days.

The first agent freely admitting that some how he always seems to be the bearer of bad news to me and then has the cheek to suggest that if I am looking for a property manager, he would be available. I mean like yea right !!! like cost me $1500 interest due to ill advice on the appropriate asking rent, plus $400 advertising costs and then offer to pick up any crumbs of my misfortune. Way to go dude !

Sorry people, but I just have to have a whinge to someone.

Thanks for all views. In regard to the Landlord being paid pittance view. With the utmost respect for your right to express a view, I don’t accept this at all.

There are certain obligations and expectations I believe exist between landlord, agent and tenant. This is outlined in the Residential Tenancy Act. This act has been formulated over many years of consideration of legal judgement over many issues that come before the courts, in relation to such matters and is designed to protect the fair and reasonable interests of all parties concerned.

If we cant rely on the acts of parliament as a guide to code of ethics, then we are all doomed to a stressful life of law of the jungle free for all, kill or be killed. We may as well all go and live in IRAQ.

If any party is not willing to respect such laws, then they should not be in the business. Why have traffic lights ? To protect us all from the madness of jungle riddled fever of the road.

So more to the point, if one is not willing to accept ones responsibility and obligations, then don’t take on the job and make life miserable for others in the process.

By the way they are actually only getting 5.5% on $280 a week. But in my view, that’s not the point.

Anyway I have spoken to the Head Office people and they agreed it was taking a bit too long to get the inspection report to me, given that I had requested a copy of it. I guess the agent wont like the fact that I complained to Head Office, but I could see I was getting nowhere fast.

I think I’m getting less patient in my older age. or starting to see the Bull Sh_t allot sooner Having said that I have a good agent in Brisbane I am pleased to say, who makes this guy look like an amateur. I guess it has set a standard for me and I don’t want to accept less than that.

I already dumped another agent who took way too long to rent the place out because he was advertising at a rent that the market was not near. i.e. $325 per week when it was more like a $290 a week market.

Thus I went with this current one who seems slack and careless, but got it rented out. I had that gut feeling on the phone to him not to trust him, but I was so desperate to get a tenant, I felt I had to take a chance or risk going under financially.

Oddly after 8 weeks of stuffing around with the first agent without him once suggesting to lower the rent, the day I signed the contracts with the slack agent, the first agent comes up with an application for $280 a week also. He missed it by hours. I think when I told him I had something lined up elsewhere he may have decided it was time to pull out his finger and try to get it rented. This guy was even smoother than the current one. He could do radio adds for “Spun Gold” butter or “Smooth as Silk” pantyhose

yea thanx I am thinking of locking in as I know at least I can afford it even though its a bit tight. I will be about $6.5K out of pocket per year on it.

Personally I think there is a correlation, but the question is to what degree. Try to rent in a good area against a bad area and you will find the property values in the good area are more, as is the rent.

I admit this says nothing about growth, as it is only a snap shot in time. But, the correlation between good areas or high in demand areas should surely relate both to rent and property values.

As measured over time surely high in demand areas would exhibit strong growth both for property values and thus rentals.

I mean look at it this way;

1. high demand area => low vacancy rate => upward pressure on rentals

2. high demand area => low for sale rate ( i.e. more people wanting to live there than want to sell supply Vs demand ) => upward pressure property values.

The lag may be reflected by rental contracts of 6 to 12 months. Thus one would have to typically have to wait for a full 12 month cycle to see the rental prices begin to reflect the capital growth from the previous year.

I can see the logic of everyone want to buy and thus nobody wants to rent also, but applied at a more macro level. However on a more local or micro level perhaps less so.

In any event, even applying the macro logic to the micro or by suburb level, the reality is that even if everyone wants to buy, many of those that want to buy, want to buy so they can rent out the property on the logic that they believe they will get strong rental returns in a high demand area.