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Rental statement

Discussion in 'Property Management' started by Jayy, 4th Nov, 2015.

  1. Jayy

    Jayy Member

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    I've had one of my rental properties vacant for a whole month (whole month of October) this is the first time this has happened. Is it common not to get a rental statement at the end of them month if it hasn't been rented at all? It makes sense if it not but just curious. Thanksyou
     
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  2. SeafordSunshine

    SeafordSunshine Well-Known Member

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    Dear Jayy,
    I'm Sorry to hear that your property was vacant for a whole month.
    I am pretty sure you should get a statement (paper or 'E') that says $0.00 on the bottom line.
    Having said that, what are they doing to rent it? Is the rent the right amount? How are they advertising it?
    Why has it been vacant? have you been on the phone to the agent to ask what can be done about it? NO rent means NO commission for the agent!
     
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  3. D.T.

    D.T. Adelaide Property Manager Business Member

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    There should still be a statement - even if it says $0 on it. Most agencies would disburse to all landlords I suspect.

    Vacant a month sounds a long time though - how are they attending to that with urgency?
     
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  4. chylld

    chylld Well-Known Member

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    Understand the pain, one of my IPs (an apartment in North Sydney) was vacant for over 2 months this time last year... had to drop the rent by $25/wk in order to find a tenant
     
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  5. norwoodman

    norwoodman Well-Known Member

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    If the property is being advertised as for rent, then this cost should show up on a rental end of months statement.
     
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  6. Azazel

    Azazel Well-Known Member

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    That sux, hope you get it rented soon.
    They should send one even if it's blank.
     
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  7. Jayy

    Jayy Member

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    Thank you for the replies everyone.
    The price is fair market price. It appears they where being a bit slack and I have to admit I've been a bit slack in regarding talking to the PM just trusting they are doing the best (big mistake). I had to push her more to get things moving along. Seems as though things are getting better with a few open days which some people have attended.
     
  8. Xenia

    Xenia Adelaide Property Manager Business Member

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    Yes statements still go out with a zero balance.
    The property management software would do this automatically
     
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  9. Chilliblue

    Chilliblue Well-Known Member

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    Just ask for your statement to be reissued.
     
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  10. Azazel

    Azazel Well-Known Member

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    Get on to them early and often, they're a slack bunch if left to their own devices.
     
  11. Xenia

    Xenia Adelaide Property Manager Business Member

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    Not all of us ;)
     
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  12. Jayy

    Jayy Member

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    Thanks for the continued advice all. I've lowered the rent slightly. The PM said its a it quite at the moment, hopefully things turn around soon. Took the opurtunity of it being vacant to do some minor touch ups throughout the property, hopefully that coupled with the slight decrease in rent gets the ball rolling.

    I've found that out the hard way unfortunately. I'm sure to call them in the future as opposed to emailing if I want a response quickly.
     
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  13. Azazel

    Azazel Well-Known Member

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    Good to send an email and follow up with a call so there is a written record, can be useful if there have been any miscommunication. But probably time to look for a new PM if it gets to that stage.
     
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  14. Jayy

    Jayy Member

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    I have another property in the area with another PM/agency, if this one doesn't provide the good it looks like I'll be changing it over.
     
  15. Azazel

    Azazel Well-Known Member

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    Of course not, present company excluded of course ;)
    There tends to be a fair few, I'm guessing because it's just above entry level at the bigger agencies?
     
  16. Azazel

    Azazel Well-Known Member

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    Where is it located?
    Probably a good idea to get them to implement some sort of strategy to get someone in there asap, whether it's dropping the rent a little, putting the priority listing on the website, a re-write of the blurb...
     
  17. Jayy

    Jayy Member

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    It's in Logan. Price has been dropped. Some more/better photos taken. Some interest but no applications have been submitted as of yet
     
  18. Azazel

    Azazel Well-Known Member

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    You should be right, just keep hassling the agent.
    Open house tomorrow?
     
  19. Jayy

    Jayy Member

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    Unfortunately no..
    The more unread these forums the more dissatisfied I feel about my PM
     
  20. Azazel

    Azazel Well-Known Member

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    No open house this weekend and it's been vacant for 4 weeks?
    What are they doing?
     
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