Management Agreement NSW

Discussion in 'Property Management' started by Sheep112, 28th Jun, 2017.

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  1. Sheep112

    Sheep112 Well-Known Member

    Joined:
    26th May, 2017
    Posts:
    58
    Location:
    Sydney
    quick questions,

    If I signed a management agreement with an agent to find tenant a few weeks ago. Am I able to go to another agent if they are struggling to find a tenant?
    What usually happens here?

    Thanks.

    Rich.

    'If you don't ask, the answer is always no'
     
  2. SeafordSunshine

    SeafordSunshine Well-Known Member

    Joined:
    24th Jun, 2015
    Posts:
    1,002
    Location:
    Sydney
    Dear Sheep,
    could I suggest,
    ask you your current agent
    1. What is the vacancy factor at the moment?
    2 What efforts have they made to rent the house?
    3 What properties are comparable?
    4 Is yours the best value for money from the tenants perspective? ( This one is really important)
    5 How can you make your place 'the best' from the tenants' perspective
    one you've found all this information, then think about a way forward
    I hope this helps!
     
    Last edited: 28th Jun, 2017
  3. Xenia

    Xenia Well-Known Member

    Joined:
    16th Oct, 2015
    Posts:
    3,863
    The first agent will sue second agent for commission because they have a contract on the property and the second agent will likely claim costs from you

    You can leave after the marketing period has expired
     
    SeafordSunshine likes this.
  4. Sheep112

    Sheep112 Well-Known Member

    Joined:
    26th May, 2017
    Posts:
    58
    Location:
    Sydney
    What defines the marketing period has expired?

    Thanks.

    Rich.
     
  5. Stimpy

    Stimpy Member

    Joined:
    23rd Jun, 2015
    Posts:
    21
    Location:
    NSW
    Depends on the agent and if you have an exclusive agreement with them. If an owner does that to us without talking to us first, we just terminate the agreement with immediate effect, inform them to collect the keys and have a nice day. Sometimes Its not worth the hassle if the property is vacant as they are usually unrealistic owners anyway. ( not to say thats you! :) ) Other agents might fight you for it though!

    Have a chat to see why its taking a while and what feedback are you getting? Price is very prominent at the moment due to tenants having a large selection of properties to choose from, coupled with the fact the quality of applications ( at least in our area ) is terrible! Lots of potential tenants hiding information seems to be the common one at the moment.

    Work with your current agent to plan out a leasing schedule with actions to be implemented at certain stages ( such as price adjustments etc ) Its better to have someone in for $20pw less than to have it vacant for another 2 weeks!
     
    Paul@PAS likes this.

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