When can I change my property manager?

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!

 

Which state is the property in? Different contracts will specify different things.

 

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

 

It's in Qld. Thanks

Will check. Thanks

 

@Andrew Hancock is a PM in qld and can probably advise on common contract terms there.

 

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

 

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

 

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.

 

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.

 

They can if it's during the exclusive period and/or they've introduced the tenant. Again, best to call and see if you can mutually cancel the contract and therefore not be liable for any commission payable.

 

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

 

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.

 

Many agencies release an unhappy client within the 30 days as we found from picking up new files. Some agencies like Pure Rentals have a 7 day release date. At the end if the day in Qld you can be released before the 30 day period if all parties agree.