WA NRAS Consolidation

Sounds like Ethan & Quantum are merging (June) and Questus will join not long after (July). The new entity will be Tebter.

Appears to be good for Questus clients but not so good for Quantum clients. Unsure about Ethan.

From what I have heard Quantum clients can no longer chose their property manager due to property managers now being required to pay a $10,000 bond to Quantum per property, just not viable.

Interesting to see if the service levels will be maintained in the new mega property manager (Tebter).

 

Wont say too much, except that Questus has already "merged" with Horizon and SVA to form AAHSL. ShareHolders : AAHS

I guess we shall see...

 

How are Questus in terms of Property Management. I just recently got an NRAS approved property and I was told they will be managing them. Will I be able to choose tenants or will they decide ? Its a bit of a different scenario with NRAS

 

You will get to decide on tenant.

 

My experience has been very good.

 

Hi el cabaloo,

Are your properties in WA ? I just recently purchased one. As it is below 20 % market rent, I am hoping it will go on rent a bit quicker than comparable properties on the market.

 

I trust your property performs better than your attempt to spell my nom de plume.

I have only one in WA and was able to rent it at exactly 20% discount within 2 weeks.

 

Ok cool. my PMA is yet to be issued to Questus by AAHS. They will carry out valuation hopefully in 2 days and then should be able to advertise.

 

Same process as any other non NRAS PM except you pay circa 15% for the privilege.

It is and it isn't as PMs take care of most of the stuff, you just control the asset.

 

we were away for a month when we revieved all the emails from Quantum saying we had to change from our current property manager to either Tebster or Questus. I am really confused on the whole situation, research is scaring me about Ethan Property and Quantum and basically all of them. We have only two choices apparently and this is all doing my head in. Thats why we had property managers lol. to do the work for me CONFUSED

 

Hi,
I am new to this group, but have had an NRAS Property in WA for about 6 years with Quantum. I'm interested in whether those who have had pressure from Quantum have succumbed and reappointed a Questus or Tebter property manager? I have been getting progressively more aggressive emails. Some accusing my current PM of criminal activity and some of incompetence. The message is clear, they want me so appoint Questus or Tebter or be scrubbed off the NRAS program. Are other investors also getting emails or this nature? I recently submitted a complaint DSS, but I'm not holding my breath.
I also heard that Jones Ballard has been able to retain its current portfolio of properties under the condition it doesn't take any more on. Have any of the other previously approved Quantum PM's been allowed to keep their NRAS properties?

 

It's looking like we won't have a choice from what I'm hearing. I have heard that the ACCC are investigating. Unsure if true or not. I'm also curious to see who has moved over also.

 

Quantum have identified compliance issues with some of its smaller tenancy managers, so they have given them 2 options.

Option 1 - provide a $10,000 bond per property managed, in the event they **** up the compliance

Option 2 - relinquish the tenancy management to either Questus Realty or the other mob

Some of the tenancy managers have tried to pass the $10K bond on to their client ( the owner of the property) which has led to a series of myths being perpetuated on these forums that 10K letters of demand are being sent etc etc. But I have had it confirmed by people who can speak with authority on the subject that the bond is the responsibility of the tenancy manager, not the owner. Any tenancy manager attempting to pass it on should be given the middle finger and referred to the ACCC and fair trading and whoever else you can throw them under the bus with.

This is why most approved participants don't like to allow just any tenancy manager to do the work. The compliance is too important to be left to small operators who dont dot I's and cross T's. NRAS owners may not like the lack of choice...but I bet you they like the compliance being signed off and the $11K be paid?

Im also told that the ABC hatchet job on NRAS which got a few on here excited , has been quietly dragged to court and the ABC will be writing quite a substantial cheque ( 800K -$1Million I'm told) as a result...

 

@euro73
Well, the judge upheld the reporting accuracy of the ABC.
Must be something strange in the water in the Hills District.
Fenn is rorting the system, hasn't even bothered to pay out rent on my property for 6 months now, let alone the NRAS incentives. At the same time, he collects the rent. In my books, that's fraud.

This is what the judge had to say in Fenn's pathetic attempt to claim the ABC was guilt of defamation:
Plaintiff is FENN, defence is the ABC:

1. The link between the sting of the imputation and the particulars relating to the requirement for investors to engage in further services provided by Ethan Housing, is found in the circumstance that the imputation concerns exploitation by a delay in payment to vulnerable investors. Vulnerability is not an immaterial or trivial aspect of the imputation that may be ignored when seeking to establish substantial truth. It may be arguable that while investors were vulnerable in the circumstances identified in 7A.27.1–7A.27.3, vulnerability is stretched too far by the allegation that the investors felt compelled to utilise additional services of Ethan Housing for fear that they would not be paid their incentives in time if they failed to do so. That is a matter for the jury to determine. I do not think that it would not be open to a reasonable jury to draw that inference
   

1. In summary, I am not satisfied that the defence of justification is so clearly unsustainable on the facts and circumstances particularised that it could not possibly succeed. Those particulars will support evidence that will be capable of justifying the sting of the imputation, whether it be interpreted by the jury as the plaintiffs contend or as the defendant contends. Self-evidently the particulars may more comfortably establish substantial justification of the imputation as the defendant would have it construed, which is a sufficient basis to allow the defence to stand. I am not persuaded that it is not arguable that a jury may find that the defamatory imputation as the plaintiffs construed is substantially true.
   

1. With the exception of particulars 7A.15–7A.16 which will be struck out, the plaintiffs’ application to strike out the defence of justification is refused.
   

 

I’ve said repeatedly that he’s rorting . I’ve written repeatedly on steps investors should take to get the heck away from Ethan and/or Quantum . I’ve provided all paperwork and points of contact said investors should use to do so ..:. The water I drink is fine .

 

The whole case:
BarNet Jade - Find recent Australian legal decisions, judgments, case summaries for legal professionals (Judgments And Decisions Enhanced)

 

OK, I wish the ABC would do a full 4 Corners report on Fenn/Bernardi/ Day and his IPA hacks. The web of rorting, political influence and shady deals would easily fill an entire programme.
Once the current government comes crashing down next May, hopefully things can change.

I'd be very interested to know how Questus is related to Ethan/Tebter/Fenn. Maybe Questus needed this deal to sweeten their share price, which is down 70% over the last 7 years, but I'm sure they have a cosy deal with Fenn somewhere.
Your insights would be most welcomed.

 

The only insight I have this week is that the weather in Maui is warm and the beer is ice cold .

 

Tebter WA is no more ... 'merged' with Questus and became Real Property ... Same Principal though. Anyone know what happened?

I just had a look at DSS and some things left me scratching my head.

 

Not merged as such. 2 things happened
1. Questus PM assigned their rights to have Tebter manage some of their properties awhile back. Mine was one of them - seemed to be a geographic thing with the outer properties being managed by Tebter. Questus PM have decided to take them back
2. also Tebter PM WA joined Questus Realty and along with it came their staff.

To avoid confusion between Questus the consortium and Questus the property management company they have renamed themselves Real Property.

What does my gut say? No one wants to be associated with Tebter and/or Tebter is going to have the book thrown at them so the properties have been moved to Questus