Another taking over pm from agency post

As the title says Ive got a property with one PM with the current tenant been there for years and paying on time. Ive self managed before and know most of the ins and outs just wasn't sure on the steps from taking it back off from the agency. I assume the steps would be this if I've missed any please let me know :)
1. Notify agency of termination of contract
2.. send a letter to the tenant notifying of the change of management, new rent collection bank account details etc
3. Transfer the bond from agency to my name once the management has been taken over
4. Update insurance policy to self management
 
Yea sounds like you got the gist of it. Where abouts is properly?

Before beginning, I'd check
A) your insurance allows self mgmt as some don't
B) whether you can leave management agreement without penalty
C) that the pm has, and is willing to provide, bond details, ledger, ingoing condition report, status of any maint issues. These things will help a lot if there's disputes in near future.
 
Hi DT its in Penrith just the street over from my ppor so I can keep an eye on it :) As for the ledger I thought they had to legally give it to you once the contract had been terminated?
 
I am probably wrong but if I recall correctly, the bond should have been lodged with Dept of Fair Trading (or some other govt organisation) so it would just be a matter of getting the details of where it is lodged?
 
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