Any advantage to hire a PM from Vendor's agent before purchase?

[skippyz]

This happened last time we bought an IP in Brisbane. We thought hiring a PM from vendor's agent has an advantage because their PM has easier access for open inspection to find renters even before settlement or exchange contract. (we only signed the management agreement just before settlement so turned out it was not that advantage)

Now we are buying another owner occupied IP in InnerWest Sydney and a vendor's agent (sales) contacted me saying she can manage this IP (becoming our PM) and she got an owner's agreement to access this IP and open inspection for potential tenant before settlement/exchange contract.
I didn't even ask her for this but

My questions are;
1. if I decided to choose a PM with my own criteria (not a vendor's PM but a third party PM), can we not access unit for open inspection for potential renters before settlement? or does my third party PM have any disadvantage in this matter compared to a vendor's PM?

2. I thought this kind of unit access arrangement for open inspection before settlement is an agreement between vendor and us (via their and our solicitors). Can vendor's agent (sales) arrange this agreement with vendor's approval?

Hope someone here has done this and share your experience.

 

[AlexChidiac]

This happened last time we bought an IP in Brisbane. We thought hiring a PM from vendor's agent has an advantage because their PM has easier access for open inspection to find renters even before settlement or exchange contract. (Turned out we only signed the management agreement just before settlement so turned out it was not that advantage)

Now we are buying another owner occupied IP in InnerWest Sydney and a vendor's agent (sales) contacted me saying she can manage this IP (being our PM) and she got an owner's agreement to access this IP and open inspection for potential tenant before settlement/exchange contract.
I didn't even ask her for this but

My questions are;
1. if I decided to choose a PM with my own criteria (not a vendor's PM but a third party PM), can we not access unit for open inspection for potential renters before settlement? or does my third party PM have any disadvantage in this matter compared to a vendor's PM?

2. I thought this kind of unit access arrangement for open inspection before settlement is an agreement between vendor and us (via their and our solicitors). Can vendor's agent (sales) arrange this agreement with vendor's approval?

Hope someone here has done this and provide me some advice.

Ive been in similar situations a few times.

1. You will not be able to access the unit before settlement without the vendors permission and the vendor can refuse to give permission if they wish. But you may find the vendor willing to comply.

2. The vendors agent will likely have a good relationship with the vendor therefore they could give the their selling agent access to the property if its going to benefit them.

My suggestion to you is if you don't wish to use the vendors agent as your property manager then for obvious reasons, I would have your solicitor liaise with the vendors solicitor directly and request access for open inspections that way.

I hope that's helpful.

 

[chilliblue]

What we do is place into the contract:

- agreement to have 2 inspections per week (detail dates and times) for a period of 3 weeks prior to settlement

- premises to be cleaned and in a similar cleanliness as per date of inspection (have a camera and date stamp images as you may also need these at settlement)

- permission to use images for advertising to let

- all keys to all locks and codes to all alarms

You may find the selling agent difficult but if it is in the contract they will have to follow through.

 

[Andrew_A]

A useful contract clause, early access for purposes of showing prospective tenants through, fairly harmless from the sellers point of view and yet to have somebody disagree with it.

 

[chindonly]

I didn't have a clause like this in a recent contract, and had considerably trouble (nil access!) in showing tenants through.

Good idea to have this in the contract.

 

[skippyz]

Thanks all for sharing your comments/advice.

I will probably talk to our solicitor to potentially add clauses for this like;

1. Access permission for prospective tenants a few weeks prior to settlement, with open inspection schedule

2. Access permission to take photos for advertising can be done by purchaser's appointed property manager (they could be vendor's PM). Or permission to use photos used for this property sale