Out of interest Joe, what sort of timeslots was the old PM offering to prospective tenants for the standard open for inspection time? Was it Saturdays, or maybe a silly timeslot on a weekday when nobody can attend anyway, such as Wednesday 3pm when all the prospective tenants are at work?
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
Good to see the witch doctor worked Joe.
As JacM said, a good PM who is willing to work for you and go that extra mile is worth their fee.
However don't let them rest on their laurels. Last thing you need now is for the PM to think they have done their job and can sit back and relax. Make sure they do their regular inspections (worst case every 6 months at the beginning) and insist on coming with them during the inspections. That way you can also have a look around making sure things are alright. After say two years if there haven't been any problems and the tenants keep it clean and tidy, you can extend it to once a year. That's what I do.
Cheers
Tom
I get hit with 11% on one of mine! Besides the fee though they do do a really good job.
Good to hear you got the place rented out! You should have asked the guru's on here months ago!
JacM wrote:Out of interest Joe, what sort of timeslots was the old PM offering to prospective tenants for the standard open for inspection time? Was it Saturdays, or maybe a silly timeslot on a weekday when nobody can attend anyway, such as Wednesday 3pm when all the prospective tenants are at work?It was always opened on a Saturday morning around 9am. Towards the end they were opening the property 5pm on a Thursday. Not very appealing timeslots.
PLC wrote:Good to see the witch doctor worked Joe.As JacM said, a good PM who is willing to work for you and go that extra mile is worth their fee.
However don't let them rest on their laurels. Last thing you need now is for the PM to think they have done their job and can sit back and relax. Make sure they do their regular inspections (worst case every 6 months at the beginning) and insist on coming with them during the inspections. That way you can also have a look around making sure things are alright. After say two years if there haven't been any problems and the tenants keep it clean and tidy, you can extend it to once a year. That's what I do.
Cheers
Tom
I agree with you Tom. I think sometimes I let my pm get too comfortable. The initial lease is for 6 months, once they prove themselves I’ll be happy to extend the lease for a year.
Hi Joe
You can change PM mid-lease. Just read your management agreement, it'll be something like "you are stuck with us for a minimum of 4mths". But after that you can just sign a management authority with another agency and they will turn up on your PM's doorstep with the forms which require them to hand over all the records and keys and forms associated with the property.
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
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