Hi I had the worst pm recently who left my property poorly managed resulting in a lot of out of pocket expenses for me to incur and rental arrears from the previous tenant...no accountability what so ever and very rude!!!!! My property is damaged! No emails ever replied to and just very poor communication from them. Anyway they overpaid me by 500 dollars by mistake. I really don’t want to return it as I’m still chasing for the arrears from the tenant as well as damages beyond the bond the Pm claimed. Please confirm what u would do..
Pay back the $500. They are two separate issues and you will more than likely create more issues for yourself by trying to muddy the waters. If either of the issues proceed further the strongest start you can give yourself is by going in with clean hands. - Luke
if it is a genuine case of incompetence , and not just a you didnt like the way they spoke to you type of situation, and if their actions directly cost you money, id keep it in a heartbeat, let them hassle you for the $$$!
Well, there's your problems, and other peoples' problems. You need to consider which one this is. Furthermore, you probably spend enough time dealing with your own accounts issues. Are you, as a freebie, taking on those of others? And what qualifications do you have to determine if this is an overpayment, a (probably non-deductible) donation, or a repayment of a (long forgotten) loan? I think it's a little complex to provide a definitive answer.
Exactly - the statement will be the only way you can tell the basis of what you have been paid. @tangy - Has the PM issued a further statement indicating that payment has been attributed to the incorrect owner and are now seeking a refund.
No statement for this payment and I’ve beem waiting for them to advise on the status of the arrears which they said they will get from the tenant by the 28th of March. I have heard nothing and received this payment a few days ago.they said it’s for cleaners but I already had my cleaning deducted fr the bond (which was included and broken down in my last statement)
Just to clarify, the tenant still owed me rent above what I could of claimed on the bond. The agent deducted cleaning and rubbish removal from the bond. They said the overpayment is needed back for cleaning - again? Which I never authorised) and I have not even seen the original tax invoices which r usually attached to my statements.
I would contact previous agent and let me know of this issue. If they have half a mind they should be kindly decline the offer and let you keep it after the harrowing experience you had. You can always just threaten with tribunal proceedings, I am sure they would back off then.
The obvious next step here is to hold onto the funds until they properly substantiate what the money is for.
I'd be asking for an invoice if you haven't already. It looks like they are trying to smooth over the transaction by giving you some of the 'arrears' or something. (You'll need this anyway for taxation purposes) Or it may just be a genuine mistake on their end, they sound like an unorganised bunch.
Simple, it is a bribe to stop you taking action against them, if not enough, take them to task as well ! And welcome to the riches of property investing - it happens, quite a bit.
Update - I got a ledger (not a property statement) and the tradesman invoice which looks like a quick PDF. No breakdown of works of course, did I fail to mention I did not authorise these works Which is over the property mgr limit stipulated in my agency agreement??? The pm took it upon themselves (initiative for once) to get one person to do cleaning, rubbish removal and door replacement. However when I inspected, there were still many works which were not done anyway. This trady invoice includes gst but they are not registered for gSt. I’m out of pocket for replacing locks as my unit got broken into ( I suspect it’s the co tenant who didn’t return the keys because he was in jail ) when I changed over to another PM. My x Pm said they will take me to “tribunal” and gave me a deadline.
