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Taking over management (contacting tenant before or after)

Discussion in 'Property Management' started by Tony Fleming, 13th Aug, 2015.

  1. Tony Fleming

    Tony Fleming Well-Known Member Business Member

    Joined:
    18th Jun, 2015
    Posts:
    543
    Location:
    Sydney
    Hi everybody. Before the negativity starts I've self managed before so know the risks and most of the ins and outs. One of my local ips in the next street has been managed for a few years the tenant pays in advance and there is never any issues. I thought I might as well take over it to save some money. My only concern is that the tenant is great been there for 10+ years before I bought it. The last IP I purchased that was tenanted the selling agency actually stole him the day it settled he notified the agency I use that he was vacating and went with them. From what I gather they told him id put the rent up straight away and they'd be able to get him into a cheaper place. I want to make sure that this agency doesn't try this(doubt they will) so should I send him a letter first explaining that i'll be taking over the management side and that there will be no increases as he is already on current market rent? Do I need to tell the agency first? Anyone dealt with this situation before?
     
  2. thatbum

    thatbum Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    902
    Location:
    Perth, WA
    I don't see the harm in introducing yourself to the tenant early.

    I'm surprised you had a tenant 'stolen' from you before this!
     
  3. Tony Fleming

    Tony Fleming Well-Known Member Business Member

    Joined:
    18th Jun, 2015
    Posts:
    543
    Location:
    Sydney
    Yeah it worked out well he seemed like a tosser and left the place filthy. That was my thoughts as well I guess I could drop a letter off on the day I notify the agency.