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Oh yeah, and I have a mind to claim the additional interest on the loan and the unpaid water bills because of ineffective management. (I had to remind the PM to invoice the tenant for the water bills - don't know why as they have not paid anyway)

Newbie, first investment property - renting out a house in Cairns since Nov 2011 at $380pw. Appointed PM who charges 8.5% + $6.99pm admin fee. Problems to date include careless omissions in original agreement, days 'missing' on statements (no rent charged), tenants in arrears since...