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Good luck with getting compensation from this company. I lodged a re-emburstment payment for Rental Agreement in October 2015. Yes you guessed it! Im still awaiting!!! I have on a monthly and now weekly bases email requesting payment and each time a different excuse as for the delay. Come on Members Alliance the quicker you pay up the quicker your rid of me. Im so gutter to think that I trusted you and your so call wisdom to put me in a comfortable position for my retirement. I seem to be going backwards, with less Cashflow. This company has really put in in a position where I dont know if I could put myself through this again with someone else out there that could undo all Financial Dept were going through. Good Luck to anyone else so stupid enough to work with this company.
Hi Jamie,
I agree with whos making the money, or should i say whos now profited! Unfortunately im a first time invester and had no idea and still confused on the process. Hoping to go alone one day, but still quite nervous as this one has really thrown me.I have thought about reducing the rent but currently have a rental agreement with the firm, so at this point im safe. Its waiting for overdue rent thats putting me backward.Being a smallish town the option of Property Management is limited as i live 900ks away.Most of the other rental properties in area all too have reduced there rent,there are quite a few up for sale or for rent in the area.My problem is should i stay or i go, even at a loss. OR hope things get better.Asou,
What area is your property? Other alternative is to google Property Inspections Report. There should be links for you to follow.I paid around $350 for report. Well worth it as we also had defects that needed attending too.They should report on interior as well of exterior. Let us on on how you go?Hi Asou,
I totally agree with Mandy, for a small outlay on a big investment. Inspections i believe are a must.You should receive full report with photos.Spend a little now and save a packet later.Hi Benny,
Our property is West of Toowoomba,4br House, expected rent $350pw.Building was completed end of Dec.2014.Off the plan. We had tenants for 6mnths, but now vacant. Businesses in the area have laid off quite a few workers. There is quite a few homes up for sale and for rent.Population is around 4000.At the time of purchase CSG project was to be in full swing by mid 2015. This has now stopped. We have since been advised that a Solar Farm is to go ahead 2016- 2017. But not sure what to do in the mean time. Hope this is helpful.Teena,
Yes! You do have cooling off period, and No you don’t need to hand deliver anything!Don’t sign anymore paperwork if you feel uncomfortable.Just tell them no thanks and walk away.The contract you signed possibly could be a PROPOSED CONTRACT, which is on pending finance approval. They will of cause tell you that they need the deal and anything else just so you fold and continue.Nothing is set in concrete at this point.You also have the choice to refuse finance but that may come at a cost to you? Its not to late. Yes! They tell you everything is safe, think about it,if the banks need to recoup money they will regardless of what they tell you it just takes a little longer, in effect you have 2 separate contacts with the bank,one for your home and one for the IP. By that time its not in Members Alliance hands anymore so they have nothing to do with it. They have made their commission and have just set things up for you,so not their problem. Don’t believe to much of what they tell you.If your not 100% happy and understand the process walk away.At the end of the day ITS YOUR MONEY!!!Hello there,
Hope you get the Justice your asking for. Our IP is in Millmerran( 80ks West of Toowoomba). It was built within 2 months. Our main problem with Members Alliance WAS and still IS the lack of communication and the lies( Refer to my first Blog). The only time they were quick to respond was due to my last Blog, and under no uncertain terms they made me aware that they didn’t like BAD PRESS, at least they responded.But now i get the impression now that its almost done and dusted we are in the NO CARE FACTOR.
We now have an over due rent issue with them now,as we had a 12 month Rental Agreement drawn up to take effect at Handover which was 22/12/2014. Tenants moved in 12/2/2015 so therefor 2 months in arrears with rent which Members Alliance have yet to pay. Our loan is Interest Only so therefor more CASH FLOW but with no rent in our account equals more interest paid.
I can only say that some of the Staff are very nice,I guess they need to make a living at out expense and Stress somehow!
If I can help in any way let me know, I feel let down in the lack of professionalism and still a lot of confusion on how all this is supposed to work.I challenge anyone from Member Alliance to respond to my blog. After all you dont respond to text messages or return phone calls. It’s been 3weeks now since handover, and no tenants nor is the house finished. I went through Sydney Office so won’t be hard to find me or get my number.
Hi
My husband and I signed up with Members Alliance in July this year with Sydney Office. First up they are a charming bunch of people. Sales had come to our house many times to insure we understood the process. Once construction began we were in contact with Qld office, very helpfull with photos and updates. But at times we were lied to as were the property was up to. We have a close friend living directly behind our investment which we found out half way through construction. And with the information received from her we had a spy on the side. Later I found that the builders were also known to my brother as he is in the same building industry.Many times I caught Members Alliance out with lies and detailed information and none of them would take my complaints seriously.
I received a call from Qld MA to tell me that handover would be set for mid Dec and to sign Building Insurance and Landlord insurance paperwork, as the builders were finished. I called an independent Builders Inspection to be carried out as I didn’t want to use the company that MA recommended. Yet again property not finished. The inspector did say that the quality of the build is of high standard, with minor rectifications to be made. Which is common. with less than 2 weeks to go for handover we have no tenant list and a property sitting dormant, again MA told me that advertising has commence about a month ago for tenants.But alas no adverts done. Luckily we have a 12month rental agreement drawn up by MA.But this is through PPI and will only be honoured if we use them. So looks like MA still get our commitment for another 12 months. Long and short, if we knew that this would become more of a headache we would NOT have gone through MA, it has stressed us out beyond believe. Their Moto is they are with us all the way, to hold our hand to Financal Freedom. Think they should sign up with a Stress Management company too,Now that they have lined their pockets we have been left to chase everything as it seems to be all to much for them to follow any queries we have. MY ADVICE. Don’t USE MEMBERS ALLIANCE they will put you into an early grave through stress.
