We are about to change property manager's and currently have tenants in our NSW property on a 12-month lease. This is the first time I have changed PM's during a lease term. Are there any hints or warnings people could give me to ensure that the changeover runs smoothly?
For example, is the old PM required to hand over to the new PM any documents from their file that are still current (eg. tenancy agreement, condition report, ingoing photos, inspection reports…)? Do I need to ensure that I terminate the old Agency agreement at the same time that the new agency agreement commences (eg. Fri 5pm), or can they overlap (start/finish on the same date)?
Any advice greatly appreciated.
Thanks
AngelaHi Angela,
We did the same thing a few years ago, wasn't happy with the old PM's. The new PM handled EVERYTHING. They contacted the old PM, got all the paperwork sent across, contacted the tenants. There was nothing we did except sign a new agreement with the new PM. They didn't charge us any leasing fee as they didn't need to advertise etc. Hope this helps
It also pays to give the old PM the appropriate notice and a letter covering this off – discuss it with the new pm
Hello Angela
I changed PMs on one of my IP's a few months ago.
I advised the old PM that I was changing agencies and who the new agent would be and the rest of the work was done by the new PM. No hassles.
Cheers
Elka
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