Would love to hear from others who have experienced this….
The agent managing my IP is incredibly disorganized. I never know when or how I will receive rent owed to me.
Sometimes six weeks in between, sometimes four, different amounts depending on whether they decide to pay 4, 2 or 6 weeks at once. Sometimes direct debit, sometimes a cheque in the mail, two weeks late of course. My tenants are excellent, always pay rent in advance. After endless phone calls demanding the rent be put into my account all I ever hear is excuses…. “my son is sick so I can’t go down the bank, the bank are stuffing us around because….. dont worry I will do it now (still waiting a week later and payment is 10 days overdue)….. You get the picture! I have written letters threatening to take my business elsewhere…. no reply. Strangely the principal is never available. Trying to manage my own finances has become impossible, not to mention the [angry2]
Unfortunately the current lease doesn’t run out until June. Not sure if I can pull out?? Not really wanting to pay a new agent a weeks rent for a new lease. Would I be asking for trouble if I pulled out and arranged a private rental with the current tenants?
I have to wonder what some agents actually do for their comission…
Any advice would be most appreciated [withstupid]
Hi Andy. Unless your IP is in the middle of nowhere and there are no other real estate agents/property managers, you will find there will be others who are happy to ‘take over’ for you. They will contact the current one for you and organise to continue the lease etc. BUT you MUST make sure you have not signed an agreement with the useless one that says you must give them a long notice period etc to terminate their management agreement or you could be up for some money. You will need to give them notice in writing of course, and the sooner the better. Last thing you need in a property manager you are paying to do the job…..All the best hey…[strum]
Complain to the Department of Fair Trading or equivalent in your State.
complaining to anyone is not proactive, it will not make an disorganised person more organised, it will just aggrevate them even more then you will be labelled as a difficult to deal with client.
You need to find another property manager, be part of the solution don’t add to the problem.
You should be recieving monthly statements of rental income, what does she mean by no time to go to the bank? Tenants should be paying into the agencies trust account.
Sounds like your property is very missmanaged, you need to find someone that is capable of managing it properly.
Investment Property Management
http://www.adprop.com.auI had problems with a manager in Victoria. After much research I found a new manager I was happy with and they contacted the old one and took over the property file within a few days. All I had to do (as a courtesy) was send written notice of termination to the old manager. There was no cost involved in doing this.
In Qld I would have to give 30 days notice as this is the time period stipulated in my management agreement.
All the best
[smiling]
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