A good time to change PM?
- Thread starter yadeh
- Start date
Hi Yadeh, I'm assumeing you mean does it make a difference with regard to your tax return ? Well that would be a big no ! The ATO don't care whether you have a PM or not. You can change when ever you think is necessary. You should check your management agreement to see if there is a time frame for ending the agreement. If they have clearly broken the management agreement they have with you, I'd change as soon as possible.
Your other 6% Manager should be able to take care of the transfer for you.
John.
Your other 6% Manager should be able to take care of the transfer for you.
John.
Check your Management Agreement that you should have signed with the current PM at the commencement of the term. Usually most MA's require 90 days to terminate their agreement but I alter this to 30 days. After all, if a PM is confident that they are doing a good job, they shouldn't have any problem with this amount of notice.
If you're not confident in sacking the first PM, simply give the appropriate notice in writing and get the other PM to transfer all the paperwork, pick up keys etc.
Mind you, I think it's more valuable for you to leave honest feedback. Even if you only want to do it by phone, rather than in person, at least it provides an opportunity for the PM to improve her services. She may not even be aware that you are unhappy.
Good luck with it all.
If you're not confident in sacking the first PM, simply give the appropriate notice in writing and get the other PM to transfer all the paperwork, pick up keys etc.
Mind you, I think it's more valuable for you to leave honest feedback. Even if you only want to do it by phone, rather than in person, at least it provides an opportunity for the PM to improve her services. She may not even be aware that you are unhappy.
Good luck with it all.
You may find that a poor PM (like yours?) will not be especially diligent collecting rent during the 90 day termination period. Some of the better PMs will pay out the 90 days of management charges to the old PM to ensure they get control of the rent immediately. And prevent arrears before they occur.
I've never experienced this - one of the better PMs offered to do this for me.
And as Jacque mentioned, cross out any termination period on a new agreement & put 30 days.
KJ
I've never experienced this - one of the better PMs offered to do this for me.
And as Jacque mentioned, cross out any termination period on a new agreement & put 30 days.
KJ
