Forum Replies Created
- flochan wrote:How do you feel about real estate agents putting tenants into your your investment properties without first having discussing with you, the landlord. Personally I feel as a landlord I would like to be more involved: to know who my tenants are; how many persons are moving in etc. What and if there are more than one applications I would like to have a say as to who would be the successful tenant. Am I asking too much of a property manager?
Would like to hear your comments
As far as I know the RE agent also bound by the agency act where one of the main duty specified is to have fiduciary duty to the principal. Failing to negotiate the prospective tenant / even cutting the tenant even before applying the property just because the agent have some issues with them should not be considered as acting in the best interest of the principal. They can cut or just put tenants as many / as little but at the end of the day it's the landlord that need to pay the mortgage…, surprisingly many agent do not grasp that concept.
Thanks for the comment Sez,
I got one new agent, not a good start at the moment but hopefully it's only a teething problem. I'll give it time for them to proof themselves. I'll be looking to check on my other agents as well.
In my tenant life at the moment, I am faced with an interesting situation where I am about to move out to a different property but my current agent has bad mouthed me and that got me banned from one of other agent just like that.
I haven't missed any rent payment (setup as automatic deposit from my bank) and take care the property. We don't always have a squeaky clean during the inspection but always in reasonable condition for a property that is currently tenanted (not for display).
Is there any way where I can deal this current agent effectively to cause me this unnecessary grief? I tried to come to their office and ask about the issue but the lady who checked my record gave me blank face and told me that I have clean record and not sure why someone gave bad reference….I am stuck.
It's like having a bad credit check without knowing it why so you cant fix it. The new agency just take it at face value without doing any other check. They refused to tell me the reason due to privacy act etc, hence no way for me to know whether it is right or not.
Hi Jamie,
It has came across my mind several times but how do you manage the distance? i.e. different state, or in regional area, specially during the letting period where we need to have several open houses with work commitment, study and family?
Do you use your lawyer to draft up the tenancy agreement? and even checking the workmanship for the maintenance work.
Thanks John, that's interesting. Do you know where I can find literature about this?
I just bought a property in Tassie and on the offer contract there are option whether I need to pay for GST or not, i.e. if vendor is not registered then I don't have to, which is new to me to find such condition on residential property contract.
I am thinking to setup up a trust with a company as the trustee to hold all the property. I cant still claim all the repair cost GST that way?
Corpred has done a really good job for me in melbourne.
They want payment made first before visiting the property, but turned out to be fair dinkum.
Hi cmason,
I just made an offer for one in Newnham…
How about Harcourts Launceston for property management? or has anybody dealt with them before?
What sort off management and letting fee should i asked for in this area?…I've been paying only around 7% for my IP in Melbourne. Can I expect the same?
Hi Derek,
Thanks for the comment….80% LMI cap is news to me (Is this with the big four banks?).
I am holding on one property in Hoppers Crossing and the market seems to pick up well in the last two years.I am ready to add another to the portfolio, but not really sure where in Melbourne to invest it. I cap myself at 400k so I don't over exposed myself. Initially I was interested to Brisbane and Melbourne. After the flood, I prefer to just focus it to Melbourne for now. Is there anywhere in Melbourne where a decent return and growth still exist?
Thanks.
Thanks for the replay cmason. Who are the RE agents to watch from your experience? Which side is the good side of Ravenswood?
What other people think? will that price jump in 2002 happens again as prices in the mainland are reasonably inflated now…
Also, I notice when trying to deal with the agents in Tasmania they don't really do much. When I was shopping around in Victoria I can get this document called "Section 32" which detailed all the information about the property, including caveat, easement etc2. Every agent here seems only to give me a standard REIT contract …..is that kind of document called a different name in Tasmania? or do we need gather all those things ourselves? (Hence, what is the agent for??)
