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Bills

Discussion in 'Property Management' started by Gockie, 31st Jan, 2016.

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  1. Gockie

    Gockie Be the change you want to see in the world Premium Member

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    I count 10 property related bills for me to pay within the next 30 days, and that excludes anything to do with the new purchase as well. I just handed the stamp duty cheque to my solicitor on Friday... I reckon that was more than my annual after tax wage income in itself!
    20160131_103548.jpg
     
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  2. Biz

    Biz Well-Known Member

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    Coooorrrrr you must be rich!


    You don't get the PM to do it?
     
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  3. Xenia

    Xenia Best Adelaide Property Manager Business Member

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    That's a great problem to have.

    One of our clients pays over $300,000 in council rates per year. That is over40 properties, now imagine they were all vacant :eek:
     
  4. Leo2413

    Leo2413 Well-Known Member Premium Member

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    Party on :D Dont you just love it :rolleyes:
     
  5. Gockie

    Gockie Be the change you want to see in the world Premium Member

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    I like to see the bills!
     
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  6. Xenia

    Xenia Best Adelaide Property Manager Business Member

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    Yes most property managers will receive all bills directly to their office and pay them for the clients.
    Property management includes a book keeping service wrapped into it too.
     
  7. Gockie

    Gockie Be the change you want to see in the world Premium Member

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    Yikes!!
     
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  8. Gockie

    Gockie Be the change you want to see in the world Premium Member

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    Maybe i'll do that... sometime...
     
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  9. Biz

    Biz Well-Known Member

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    Rates, water I just get the pm to sort it every quarter. They send me a copy with the statement. The only bill I pay myself is land tax and insurance.
     
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  10. Scott No Mates

    Scott No Mates Well-Known Member

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    Paying bills = menial task.
     
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  11. Heinz57

    Heinz57 Well-Known Member

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    Landlord is ultimately responsible for any errors or defaults. I would want to double check the bill has been paid by the property manager as I am legally liable. If I am doing this I might as well pay the bill at the same time.
     
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  12. HUGH72

    HUGH72 Well-Known Member

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    My thoughts as well. I would be worried that if there is insufficient rental income for the month the bill is held and not paid until the following month.
     
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  13. wylie

    wylie Moderator Staff Member

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    I'm self managing, and have no issues with spending a few minutes paying a bill. It is saving me hundreds of dollars per week and I keep on top of things and know the minute the rent goes in. No waiting to get the rent until the end of the month either.
     
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  14. Xenia

    Xenia Best Adelaide Property Manager Business Member

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    this is true
    in our office we call landlords to deposit extra funds if insufficient funds in landlords ledger accounts.

    the worst ones are insurance companies who will not speak to property managers and not allow us to handle payments. We've had cases where even when the landlord rang and specified 3 names in our office who can speak to them, they still did not and landlord had to step in and pay himself over the phone...
    we transferred him to one of the specialist companies we deal with - all good now.
     
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  15. DaveM

    DaveM Adelaide Buyers Agent & KFC Strategist Business Member

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    Ouch! Where abouts in Adelaide are these properties with avg $7500 per annum council rates? Adelaide City Council?
     
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  16. Scott No Mates

    Scott No Mates Well-Known Member

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    Half of Rundle Mall.
     
  17. Xenia

    Xenia Best Adelaide Property Manager Business Member

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    most of these are north Adelaide and Adelaide city
    some are commercial
     
  18. JacM

    JacM VIC Buyer's Agent - Melb N & W, Geelong, Ballarat Business Member

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    I (personally) wouldn't leave rates to the PM. Council gets very stroppy about unpaid rates and can take possession. Heaven forbid if there was an oversight by the PM and the rates were not paid...
     
  19. legallyblonde

    legallyblonde Well-Known Member

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    Same. Bless direct debit!
     
  20. legallyblonde

    legallyblonde Well-Known Member

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    Ouch. My rates are $254 a quarter!
    .