Hello people, I haven't been around here in a while. We want to sack our current property manager and hire another. We've chosen a new one. Is there a specfic legal process I need to go through? Is there a PAMD form for this ( I couldn't find on on the fair trading site).
Cheers
SHYou might need to check the document you have signed with the current property manager as a first step, to see if there is a notice period, or whether you have signed up with the current PM for a specific length of time.
Jeez…. That was a while ago. I wonder where that document would be now. Brings to mind actually, the different time lines we need to file documents for…. Sometimes you need to find it 10 years later…
Thanks.depending upon what you have agreed with the current agent, notice must be in writing, faxed oe mailed to the company giving the appropriate notice period, may be 30, 60 or 90 days. Some will let you out earlier.
I was in the same boat earlier this year and wrote a long letter to the managing director of the property management company. I listed out my concerns in a nice way, including all the reasons that led me to this decision. I offered to pay the 90 day break fee to be released immediately. I now manage the property myself and still haven’t received an invoice from the old property management team (or property mis-management team as the case may be)
I sacked mine recently and it was as simple as telling my new Agent to arrange it , and she did
SHales wrote:Hello people, I haven't been around here in a while. We want to sack our current property manager and hire another. We've chosen a new one. Is there a specfic legal process I need to go through? Is there a PAMD form for this ( I couldn't find on on the fair trading site).
Cheers
SHHi SH
If you already have tenants in place, request that your new PM doesn't charge you the standard one week tenant finding fee.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Thanks fo the suggestions. Great stuff. I've drafted a letter and sent it to the new pm to look over. It is tricky as we are in the middle of lease renewal with a long term tenant, too. Won't manage myself as it is about 1500km from where I live. Cheers.
SHales wrote:Thanks fo the suggestions. Great stuff. I've drafted a letter and sent it to the new pm to look over. It is tricky as we are in the middle of lease renewal with a long term tenant, too. Won't manage myself as it is about 1500km from where I live. Cheers.Can you wait until the new lease is signed? Might make things a little easier.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Yeah it’s important to have good property managers, and to let go of them fast if they’re not performing!
Recheck the terms of your contract – make sure you you check the clauses regarding “termination.”
Here’s some more info to help you out: http://yourokcpropertymanager.com/how-to-fire-your-property-manager
If you make it clear how powerful word of mouth can be, I am sure they can be persuaded to let you out earlier, if you speak with the principal of the agency, not the property manager.
I know that I don't care if my clients have a 2 year agreement with me, first of all I want to know if I can fix the problem, if not, I would much rather let them walk yesterday, than have them locked and signed up with me, telling their friends and family, and damaging my brand.
Good for you in deciding to select a new manager though, the right one can make you forget you even own an investment property!
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