I have had nothing but dramas with my property manager/s and wish to give them boot. Before making any rash decisions I just want to ask if there are any nasty fee's I will get get? I have read the Property Management contract but don't understand it 100%….
Be aware that your insurer will charge you a higher premium if you opt to self-manage
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
Hi there
There's usually a notice period that needs to be issued.
Ask them for clarification on any points that you don't understand. If they can't help – then perhaps seek legal advice. However, you'll need to weigh up the cost of that advice in relation to the potential fees applicable to this circumstance.
All in all – it's usually just a notice period that needs to be issued. Your new PM might have upfront costs though.
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]
I sacked my property manager and didn't have any issues. You just need to give them notice.
As for insurance charging more – I didn't find this at all, in fact it was actually cheaper when i switched providers haha.
Check out this blog post on managing your own property: http://mypropertyjourney.com/2012/08/05/taking-control-7-steps-to-self-managing-your-investment-property/
The new property manager often serves the notice to the existing property manager and takes over until the notice period is served out (unless there are outstanding matters).
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