Where do We stand?

Discussion in 'Property Management' started by Younginvestor2, 8th Nov, 2018.

Join Australia's most dynamic and respected property investment community
  1. Younginvestor2

    Younginvestor2 Well-Known Member

    Joined:
    26th Dec, 2015
    Posts:
    100
    Location:
    Sydney
    We are in Victoria. We had been approved to rent a property for 12 months with a real estate agent. We paid first month's rent, paid the bond, all set to get the keys next week.
    Today we got a call from the agent. According to him, the landlord decided to not use them as agent anymore and manage him or herself. And when probed about the lease, he said the landlord has not signed yet. And when asked to disclose landlord's contact details, we were told, they couldn't disclose it and the landlord will get in touch with us.
    According to the agent, we will still collect the keys on scheduled start date along with the condition report but my understanding is after that the agent has got nothing to do with the property anymore.
    So we don't know what to do.
    So far there is no whatsoever communication from the landlord. I know by the end of the first month, landlord will want his/ her rent and get in touch.
    Questions to those experienced:
    1. What if the lease remains unsigned? Is the 12 months lease still valid or are we month to month?
    2. What do we do with the property condition report? I have a feeling the agent is going to tell us, return to the landlord. What if there's faulty appliance and landlord remains elusive for the next 30 days?
     
  2. thatbum

    thatbum Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    5,837
    Location:
    Perth, WA
    So have you signed the lease and returned it?

    Personally I don't see any real issues if that has happened - I would just proceed assuming the tenancy is afoot and the landlord is likely to be in touch shortly.
     
  3. Younginvestor2

    Younginvestor2 Well-Known Member

    Joined:
    26th Dec, 2015
    Posts:
    100
    Location:
    Sydney
    Yes signed and returned to real estate agent.
     
  4. thatbum

    thatbum Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    5,837
    Location:
    Perth, WA
    I would just stick to the plan then. I imagine the landlord will be in touch soon.
     
    willair likes this.
  5. The Y-man

    The Y-man Moderator Staff Member

    Joined:
    18th Jun, 2015
    Posts:
    13,504
    Location:
    Melbourne
    @Younginvestor2

    You will find this is a tactic used (and often recommended) by many self-managers who use the RE agency to advertise and screen tenants.

    The Y-man
     
    Tom Rivera likes this.
  6. Shogun

    Shogun Well-Known Member

    Joined:
    26th May, 2018
    Posts:
    2,889
    Location:
    Perth
    I wouldn't be happy. with a property manager you have some recourse.
    Some owner managers have no idea and it can make it difficult for you.
     
  7. Angel

    Angel Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    5,815
    Location:
    Paradise, Brisbane
    Good morning @Younginvestor2

    Did you make a copy of the lease that you signed. On the first page (usually) or second page it would show you exactly who, or what business, you are leasing from. If the lease was made with the agency, then the landlord will have to give you notice with his/her business name, confirm that the terms and conditions remain the same, and where the rent will now be paid. There will be a new clause in the lease somewhere that confirms methods of contact such as phone numbers and email addresses, and proof of rent payments such as direct transfer shown on your bank statement rather than receipt from the property manager's trust account.

    There would be a form for the RTA that all parties must sign notifying change of property management. This can take a couple of weeks to be fully processed. You can follow up with the RTA in your state to confirm that the bond has been deposited correctly on your behalf.
     
    SeafordSunshine likes this.
  8. Scott No Mates

    Scott No Mates Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    27,229
    Location:
    Sydney or NSW or Australia
    As per @The Y-man - agent has been used for leasing only.

    Contact details will be in the lease or provided shortly with the return of the lease.

    Agent has entered into the lease on behalf of the owner
     

Build Passive Income WITHOUT Dropping $15K On Buyers Agents Each Time! Helping People Achieve PASSIVE INCOME Using Our Unique Data-Driven System, So You Can Confidently Buy Top 5% Growth & Cashflow Property, Anywhere In Australia