HI There,
I was hoping someone could help me with this one….
I have an IP managed by an under performing agent… We wish to change agents.
We have given them 30 days to change but the agent has disagreed with this and tells us that we need to give 90 days notice. He will no release us from this agreement for 90 days.
Our managing agreement form 6 was filled out a number of years ago when 90 days was the requirement.
The form 6 has now been changed effective from August 1st 2016 so that only 30 days is required for all agreements.
Can anyone tell me if the new form 6 (with 30 days notice) automatically supersedes the old form 6 (with 90 days notice) or must we abide by the old agreement??
Thanks in advance.
Agent Smith.Maybe someone here knows (I don’t) but if nobody answers by Monday morning, I would call the regulating body in your state and ask them, they will know 👍😎
Ethan Timor | Aligned Finance Pty Ltd
http://www.alignedfinance.com.au/
Email Me | Phone MeActive Investor & Broker; Based in Northern NSW, servicing Australia wide; Author of '34 Proven Ways to Maximise Your Borrowing Power' (download free from our website)
I would call the regulating body in your state and ask them,
That would be the Real Estate Institute of the State – REIV, REINSW, REIQ, etc. It strikes me that you might be stuck with them for 90 days – but then, if they are that bad, give some thought to moving away even as you give them notice. e.g. it might cost you a further 8% of the rent, but if you have a BETTER agent running things, and this mob get their 8% for 3 months for doing nothing, at least they won’t be stuffing any more things up for you.
How bad are they really? Is it worth paying DOUBLE the Mgmt fee to have them NOT handling your property? Ask the REI if you can do that too.
Benny
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