- NEWGENParticipant@newgenJoin Date: 2004Post Count: 151
I’ve just got a quick question.. we had a PM managing one of our units up until January this year. My girlfriend called up asking for a complete summary (i.e. every month’s details from the past financial year on one statement) and she was told that because of their heavy work load they’re charging $5 for this service.. now $5 is not much at all to pay but we were just wondering if this was ok/normal ? Even though we don’t use their services anymore we did in the past and I thought our fees would have covered this..
Cheers [blush2]DerekMember@derekJoin Date: 2004Post Count: 3,544
Some will some won’t.
Some PMs charge around $20 for an annual statement subject to your signature on the appropriate clause in the managememt agreement.
I prefer to keep running records so that I know what is coming in and going out and do not need the annual statement as provided by the PM.
Property Investment Support Available. Ongoing and never stopping. PM welcome.NEWGENParticipant@newgenJoin Date: 2004Post Count: 151
No worries, thanks Derek [thumbsup2] We’ve kept the monthly statements but because we’ve got so much paperwork/receipts we though we’d make things a bit easier for the accountant. Ah well All this tax stuff is so much work..yackMember@yackJoin Date: 2003Post Count: 1,206
I changed PM during the year and the old PM actually sent me the yearly statement. Cost me nothing, cost them a stamp but it did create some Goodwill for them.
I only moved because the new mob sponsor my local football club and I organised the sponsorship. They have both looked after me very well.kay henryMember@kay-henryJoin Date: 2003Post Count: 2,737
My PM’s send out an annual profit/loss statement with all details of expensiture, at the end of the financial year. I have to pay for another one if I lose that one, but the first one you get should be free, I’d have thought.
kay henryCeliviaParticipant@celiviaJoin Date: 2003Post Count: 886
Yes Newgen, I received my year-to-date statement free of charge, but my pm let me know that next year there will be a fee for this service.
Celiviababu88Participant@babu88Join Date: 2003Post Count: 45
My PM automatically sent me an end of year summary and charged me $25 for the privilege. I have written and told him ‘please do not send any more next year because I am a good record keeper’. I hope he remembers. Our church PM also sent out an end of year summary and charged us for it (also $25) – even though I have told her two years in a row that we do not need it. I wrote to her and she apoligised and gave some stupid excuse such as she could not overwrite the ‘system’. This made me very angry as it is such a rip-off.