All Topics / Help Needed! / Rental Property Manager liable for Mismanagement ???

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  • Profile photo of sokossokos
    Member
    @sokos
    Join Date: 2005
    Post Count: 8

    Hi all!
    Question relates to Rental Management.
    We are paying a 'brand name' real estate franchise the going rate of 8% (plus monthly  admin fee $5per month)
    to manage our rentral property.
    We are 6 hours away from the property, so rely on the manager to do what needs doing.
    The situation is the tenent literally up and bolted leaving a houseful of valuable furniture etc ….
    To cut a long story short, the matter went to Tribuneral and we are still stuck over 2 months later with a house full of furniture – no rent – and a lot of frustration.
    Is there any comeback on the 'professional' Propery Manager (Principal of the franchise) for the losses we have incurred as a result of the property manager appointed by him being inexperienced in dealing with such matters, consequently reulting in the losses and situation we presently find ourselves in??

    Your knowledge is appreciated!!

    Profile photo of maree_bradrossmaree_bradross
    Member
    @maree_bradross
    Join Date: 2007
    Post Count: 401

    Hi – ouch I feel your pain. That is for your insurance company to sort out when you lodge your claim.

    Profile photo of TaylorChangTaylorChang
    Participant
    @scha9799
    Join Date: 2009
    Post Count: 234

    yeah, a lot of time I felt that the property managers are not doing a good job.

    I have 4 of properties and only one property manager I really trust his is really looking after my property, tenant and me.

    I really hope there is a property management company can really standup and deliver the good quality of serivce for tenants, clients, and property.

    so often I see property managers for repairs, gets very expensive quote, for tenants, only give them a key to inspect the property themselve didn't direct them or guide them for apply or look after property. for client, like landlord, didn't properly inform us when there is a problem. didn't advise us for the new law or how to improve the rent and tenants needs.

    I hope if there is a good/quality service property manager. please contact me I am happy for them to look after my property.

    Taylor

    TaylorChang | Finance Broker
    Email Me | Phone Me

    Home loan | Commercial loan | 0414 691 517

    Profile photo of sokossokos
    Member
    @sokos
    Join Date: 2005
    Post Count: 8
    maree_bradross wrote:
    Hi – ouch I feel your pain. That is for your insurance company to sort out when you lodge your claim.

    ……………. hmmmmmmm, unfortunately we are that learning curve – the one that has 20/20 hindsight!
    We were aware of it, but didnt follow thru and get it in place.

    Sooo, the Q still remains – has anyone any info on a property manager being taken to task (legally – or otherwise), in relation to mismanagement resulting in financial loss…….

Viewing 4 posts - 1 through 4 (of 4 total)

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