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Changing PM

Discussion in 'General Property Chat' started by Whitecat, 8th Dec, 2015.

  1. Whitecat

    Whitecat Well-Known Member

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    Can you change a PM mid tenancy?
     
  2. monalisa

    monalisa Well-Known Member Premium Member

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    I believe depends on the state.

    Never had to do it NSW.

    But in QLD - the PM can hold you back for 3 months, but depending on the PM, they may let you go asap.
     
  3. D.T.

    D.T. Adelaide Property Manager Business Member

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    Adelaide, SA
    Yes. Review your agreement as to whether there's a notice period.

    Find a new PM that you get along with well and think is more capable of handling the job. Sign an agreement with them.

    New PM then organises:
    - Collection of documentation (if any) such as lease, file notes, ledger, etc
    - Collection of keys
    - Transfer of bond to be under their care
    - Introduction to tenants and provide them with rent payment details

    Pretty basic.
     
  4. Xenia

    Xenia Adelaide Property Manager Business Member

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    The management agreement does not really depend on the tenancy agreement with the tenant. If the management agreement has run through it's fixed term agency period then there will be a specified time for another agent to take over. Usually 60 days.

    Most agents can handle the transfer between each other (including appropriate legal notice) and will do so in the back ground without your involvement at all. All you need to do is find an agent you are happy with and ask them to make the transfer over - it's a common thing within the industry and most agents just know the procedure well.
     
    bez23 likes this.
  5. Dmarkw

    Dmarkw Well-Known Member

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    9th Aug, 2015
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    Sydney
    Depends on your property management contract in Queensland. 90 days is the standard I believe, but we requested 30 before signing. We did a change of property managers about 18 months ago with tenant in place and process was straight forward. Provided notice, new property managers collected file and dealt with the handover.

    Always worth making sure there's a short termination period in future contracts - no reason this shouldn't be acceptable.