Just got one question:
If anyone here was going to buy an investment property with a group of people, would you prefer to go into it with someone you had a relationship with (i.e. friends or family) or someone with whom you had no relationship with?
Hi
My husband and i have brought a property with his parents and things have gone very well, we are looking to purchase another property together soon. The most critical thing is to make sure everything is outlined clearly from the beginning, all the what if's have been explored and you have the same goals. you would need to be able to trust them 100% it's not something i would jump into lightly
Can any one tell me what the role of a property manager is please. Mine has just given the go ahead for work to be done on my pool without telling me and now wants me to pay the bill of nealy $500. As l knew nothing about it why should l foot the bill, and l right in this or can he do that.
From the outset when u have a property manager you should stipulate that they must contact you before any work is carried out.
Mine for instance gives me a call before any work needs to be done and i always go and investigate it to see what actually has to be done. Then i either fix it if i can or just tell the PM to organise to fix it if i havnt got time.
Hello Browny
Unless you're in wiggles position (i.e. close at hand and a handyman) you normally give your PM permission for repairs up to an agreed on amount. Anything above that they need to contact you.
The exception to this is if it's something urgent or dangerous. If the toilet is flooding or the electricity has fallen out or something then he will get it fixed at once and normally tell you later.
Do you have an agreement with your PM about repairs?
Hope this helps
ElkaThanks guys for the replys. l agree with you both but the problem is l wanted quotes, he did not contect me he just went ahead and had the work done, he gave the repairer free hand with the pool so no wonder he fixed things that won't broken, now he wants me to pay . so my question is am l liable for these repairs. Thanx
hi Browny
Check your contract – there is an agreed amount stipulated in the contract that a property manager is allowed to spend on repairs without your approval. It often defaults to $300, (I always reduce mine to $150).
If you authorised him to get quotes, and he went ahead and got the work done, it sounds like your property manager definitely did the wrong thing (unless it was an urgent repair). I'm not sure where you're based but I would check with the office or dept of fair trading to check your rights.
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