Eviction time for property agent
Professionals simplify managing a rental property, but when they don’t perform they have to go, writes
BREAKING up is hard to do, but not when severing ties with an underperforming property manager.
Last week I decided I had finally had enough of the agency managing my rental property.
It had been roughly two years, without incident, until our long- term tenants vacated and moved overseas.
For the next couple of months, our property managers conducted inspections, telling me the property was in good shape, well priced and sure to attract plenty of tenants.
What they did not bother to mention was that the paint was chipped on the walls, the carpet filthy and stained, and the toilet cistern discoloured and desperately in need of replacement.
After a couple of weeks of unsuccessful viewings, one agent casually mentioned that the lack of interest may have been due to the shabby state of the furniture.
“The furniture?” was my reaction. It turned out the former tenants had left their clutter behind when vacating and the property managers did not realise the place was supposed to be unfurnished.
The unit remained full of tattered couch and chairs, an old damaged fridge and even drawers full of old stained cutlery.
This was the final straw. I contacted the agents who had the listing back when we bought it – they had been very professional – and asked if they also did property management. They told me that I just needed to notify the current agents in writing and they would take care of the rest.
So I simply emailed them to say I was terminating the agreement, effective immediately. They did not object.
Friends suggested I manage the property myself, but as ME SAVERS AND SPENDERS: Amelia, 7, saves up before she spends, whereas brother Lachie, 5, struggles to hang on to money. sponsored by head of home loans Patrick Nolan says, there can be more work involved than meets the eye.
“There are legal obligations to comply with, like lodging the rental bond on time with the appropriate statutory authority … and accurately completing the lease agreement,” Mr Nolan said. He added that rent collection and legally sound inspections were complicated without representation.
“Property managers also organise minor repairs,” Mr Nolan said. “This may not seem overly challenging until the tenant calls late at night to say the stove isn’t working, or you’re left trying to call out a plumber on a weekend.
“Most importantly, a property manager will represent you in all dealings with the tenant. The vast majority of tenants pay rent on time. But if they don’t, landlords can’t simply go knocking for their money – strict legal provisions apply.”
Property managers also make tax time easier, with single statements in place of the paperwork a DIY investor would need to compile.
Picture: RUSSELL MILLARD/ AAP