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When can I change my property manager?

Discussion in 'Property Management' started by samiam, 14th Oct, 2016.

  1. samiam

    samiam Well-Known Member

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    yes my PM finds me the tenants ready to move in for a year. when can I change her? Do I have to wait whole year?
    P.S It was my mistake to use the selling agency to manage the rental. when there wasn't any problem, you didn't know how inefficient they were!
     
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  2. D.T.

    D.T. Adelaide Property Manager Business Member

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  3. Schmoo

    Schmoo Active Member

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    Check your property management agreement. It will stipulate how much "notice" you must give your PM prior to changing to another PM.
     
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  4. samiam

    samiam Well-Known Member

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    It's in Qld. Thanks
    Will check. Thanks
     
  5. D.T.

    D.T. Adelaide Property Manager Business Member

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  6. MyPropertyPro

    MyPropertyPro SE Qld Property Management & Investor Services Business Member

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    Hi Samiam

    We are a property management investment company based in QLD and if you have signed a Form 6 which is the standard management agreement then the maximum notice is 30 days however it can be basically an immediate handover if all parties agree.

    Most agents won't agree to release the keys and file earlier than the 30 days as that means they are missing out on 30 days management fees however if you have a good reason for wanting to terminate then the agent may agree and be more reasonable and agree that in terms of moving forward it is best for all parties that a quicker handover occurs.

    Jodi
     
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  7. YouMeAndTheSea

    YouMeAndTheSea New Member

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    Hi all, sorry to butt in but i have a similar question but based in Victoria and on a REIV 005a form.

    I have only started advertising through my PM recently but am already unhappy with their lack of professionalism and want to cancel asap with minimal loss. My exclusive authority is 90 days/0 days continuing - from what i understand this is specifically for leasing the property only - no exclusive authority for managing property in Victoria.

    If I request to cancel from now and pay out the advertising and the property is not leased can the agent by any means request commission for the remainder of 90 days? I wouldn't think so since it is not tenanted, right?

    The other option is to let them find a tenant, at which point the exclusive authority lapses once tenanted (correct?) then i switch out. In this case is the remainder of the 90 days exclusive authority at all relevant regarding financial obligations?

    Any advice highly appreciated

    Thanks in advance
     
  8. Lil Skater

    Lil Skater Well-Known Member Business Member

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    90 days? Ouch.

    Exclusive authority is only for the first advertising period. BUT, the property isn't generating any income and most agents would be happy to let it go if their costs are covered.

    Once the property is tenanted it means you can change immediately (generally 2 business days), however if you're feeling they're incompetent now I would suggest you speak to them to get out of the contract now as there's a chance their incompetence will also spread into reference checking.
     
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  9. YouMeAndTheSea

    YouMeAndTheSea New Member

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    Thanks for your response.
    So in no way can they claim commission with remainder of exclusive authority when/if tenanted?
    I figure since I'm paying top dollar for advertising i may as well get something out of it (tenant) but i know what you mean - could end up losing more through negligence. They're not so incompetent, more rude and bad with communication.
     
  10. Lil Skater

    Lil Skater Well-Known Member Business Member

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  11. YouMeAndTheSea

    YouMeAndTheSea New Member

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    By commission I only mean the property management percentage taken each week/month. I't doesn't make sense to be able to charge commission for remainder of exclusive authority if;
    1. Exclusive authority ONLY relates to leasing/advertising period and once leased you are free to switch
    2. In Victoria there is no exclusive authority on managing the property, hence how can an an agent claim property management commission considering the above.

    Just sounds contradictory and want to be clear on my rights. Thanks for your input
     
  12. Lil Skater

    Lil Skater Well-Known Member Business Member

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    Can't claim management fees, but can claim letting fees - sorry for the confusion.

    Chances are if you offer to pay advertising charges they will happily cancel the contract. Just need to contact them and find out. Make sure you confirm in writing though, just in case.
     
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  13. DiligentPM

    DiligentPM Well-Known Member Business Member

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