I have 2 IP’s in Canb (that I pay 11% each to manage) a new tenant has moved in[thumbsup]ad noticed holes in wall and door that have been filled with pink car filler!
I asked PM about this and he said patchup job has always been there, (had 2 lots of diff tenants prev and same PM throughout).
I know that I will be now paying to fix (as prev tenants long gone)but I asked PM that I want to see reports he said that he does informal inspections and points things out to tenants that need to be done, and this way can gain more access to check on property. Or I could do formal inspections (2 x a year) that wouldn’t allow you the same access.
This is all new to me as I have other properties that I get reports from both the agent and tenant make to make comment, anything damaged beyond usual wear and tear is paid for by tenant or claimed through insurance.
Has anyone heard of informal inspections where nothing is documented?
Jenny1
The management agreement you signed should have the number of inspections that will be done per year. You should receive a copy of the report. Having 8 properties both in NSW and Qld, I look forward to the inspection reports and any comments as to what may need attention now or in the future. Also having worked in property management, inspections were always scheduled and the tenants advised in writing a week or so prior to the inspection. Everything should be in writing. You can’t just inspect properties when you feel like it and tenants deserve their privacy and notice of inspection as well. Sounds an odd PM, a bit too friendly.
If ever there was a business opportunity in Australia it is for a high quality property management business. At present you get the young girl with no experience or “Gina-hard-faced-bitch” types. Neither are ideal and the agency itself just wants your listing because that’s how Real Estate Agencies are valued for asset purposes.
Pretty poor all round.
Property management is a difficult career path – you need to be firm but fair and appease sooo many people. I’ve been doing it for over 8 years and have really enjoyed it. Have got better job offer in same firm so am happy to move on and move away from the unenviable stress. A good business owner understands the need for a great PM and should pay good salary for them (but thats another matter all together).
Back to your question – all inspections (in QLD) must be, as ANNAW2 has stated: formal, tenant notified in writing at least a week before inspection, and written report provided to owner and if any problems, a letter sent to tenant to rectify any problems that weren’t there prior to them moving in. Copy of initial entry condition report (once returned signed by tenant) to owner for information and any instructions.
Then, again depending on management agreement, we do inspections every 3 months unless, with prior consent of owner, extend these to 6 monthly if long term excellent tenant.
I think your agent is playing games with you. Hope this helps.
Yasna & Simon
Originally posted by Jenny1:I asked PM about this and he said patchup job has always been there, (had 2 lots of diff tenants prev and same PM throughout).
Hi Jenny,
Your initial property condition report would have identified this patch as ‘always being there’.
I would also go back through all of your inspection reports to see if this patch had previously been mentioned.
When you did your initial inspection (prior to purchase) was the patch there then?
Derek
[email protected]
0409 882 958
Property investment advice and researched property in quality locations available.Change PM’s…
What area in Canberra ?
And does anyone know a good PM there ?
Melbear ? Shaun ?
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorRedwing:
Properties are in Fadden and Macarthur.
Derek:
Found the original property inspection and no mention of pink filler in walls..but unfortunately that report was 3 tenants ago!
A good learning curve to conver with PM so that he is clear in what is expected of him looking after your investments
Jenny1
Hi Jenny,
One of our previous PMs tried to bill us for a missing flywire. I got all of my previous reports out and at no stage had the flywire been reported missing.
I politely pointed out to then that at no stage in the past had their inspections identified the missing flyscreen nor had they billed a previous tenant.
I also pointed out that it was their fault the righful ‘offender’ hadn’t had their bond docked and as such they would have to pay for the screen.
I would suggest you have a similar situation on your hands and I would trail through other inspection reports to try and find out when the ‘patch’ appeared. And if there is no mention of a patch then you have reasonable cause to pursue your refund from the agent.
Derek
[email protected]
0409 882 958
Property investment advice and researched property in quality locations available.Hi Jenny
I would also check the management rate of 11% each. This is on the high side for Canberra and given you have multiple properties you should be able to negotiate a better rate.
The property manager I use does a written detailed list of marks etc and general condition when new tenants move in.
Thank you Richter
I found out the other day same PM offered to look after a property of friend of mine and was going to charge only 8%!
Certainly woth re negotiating.
Cheers
Jenny1
You must be logged in to reply to this topic. If you don't have an account, you can register here.
