choosing tenants

[chilliblue]

If the migrant comes from an affluent country and can offer to pay an upfront rent, say 4-6 months, I will choose this tenant.

That is a good point. If the tenant is willing to pay the term of the lease in full upfront, the risk is reduced to you.

However, I agree with the others that your PM is not undertaking their legal requirement.

They are in breach of their ethical standards and I would have served them notice to terminate the agreement imeediately followed by a quick kick up the bum to the licensee of the practise.

I cannot understand why landlords are so frightened speaking out against bad service and why they just accept it and whine on sites like this.

You are not making money out of an asset that was purchased to do so.

The person you have contracted to undertake a service is not doing it correctly.

What is so hard about changing something that is not working?

If you cannot stand up for yourself, find a friend or mentor to assist.

 

[alplant]

We took on a tenant with no references and no job (had moved here from interstate) and it has turned out ok. I had my doubts but we weren't exactly inundated with applications and this one offered to pay six months up front so we figured we couldn't really lose rentwise. We went with three months so that if they turned out to be the tenants from hell we weren't stuck with them for six months. At first they were a bit precious calling the PM on every little thing but that settled down and now they are into a six month lease and consistently paying a month in advance. If you decide to go that route make sure the up front payment goes into your bank account and not the real estate's trust account. They might try for that. Tell them they can have their commission up front but the rest must go into your account.

As for changing PM's, probably not a bad idea, given the treatment you have received. We have changed three or four times in the past because we haven't been happy with the service. If you go directly to the principal of the RE office you can probably get the notice period waived. In hindsight though, I don't think it made much difference for us. PM's seem to come and go on a pretty regular basis around here so even if you find a good one there's no guarantee that particular person will be around for the duration. I think we are up to number four with our current RE.

Good luck with it.

 

[KylieHay]

If you go directly to the principal of the RE office you can probably get the notice period waived.

If the property is not tenanted you do not have to worry about the 30 day notice period. They are not collecting any rent to pay themselves commission, so you can take your property to another agent probably that same day as long as you hand them written notice terminating the agreement in place.


CandyInvest: If the agent is disinterested, no doubt he probably hates his job and won't hang around in time to come.

 

[candyinvest]

Thank you all for the replies!

I have told that guy that I am not happy with the arrangement and want to terminate the agreement and now he agrees to do a bit more for me.

he will now opening the property fri and sat.

I will let him do it for this week coz it is almost the weekend now.

Btw, what criteria makes a good tenant?

- stable job(income)
- past rental reference

what else?

 

[chilliblue]

Different properties and landlords have different requirements.

Some that we have used over the past years in no particular order are:

■Length of lease term and acceptance of fixed increases
■Agent checks
■Did the tenant give proper notice to vacate existing property?
■How long has the tenant lived at that address?
■Does the tenant pay rent on time and in full?
■Does the tenant pay all other expenses such as water consumption on time and in full?
■Does the tenant have pets? If so number, style and type of pet. Can also request vet reference.
■How many children and adults will live in the property including ages? Remember that you cannot state rejection on age.
■What is the proposed commencement date?
■Does the tenant have co-tenants not on their lease?
■Is the tenants property kept clean?
■Has there been any damage to tenants existing/past property?
■Is the tenant's employment permanent or temporary?
■How long has the tenant worked for the employer?
■Does the tenant report to work regularly and on time?
■What are the tenants prospects for continued employment?

Essentially, it is good to see a tenantwho has rented before and has the good history on paying rent on time and looking after the property.

I have one agent who will drive past an applicants premises and talk to the neighbours if they are not known to them.

What may be acceptable to someone may not be acceptable to someone else.

 

[Lamingtons]

Gosh Candyinvest, who is the property agent?
You can PM me if you dont' want to out them as I have an IP somewhat out there.
Disgraceful and I fired them -> they didn't even come pick up their stupid for lease sign. My tenants have moved it to the backyard, i told them to use it for a bonfire.

 

[neK]

Thank you all for the replies!

I have told that guy that I am not happy with the arrangement and want to terminate the agreement and now he agrees to do a bit more for me.

he will now opening the property fri and sat.

I will let him do it for this week coz it is almost the weekend now.

Btw, what criteria makes a good tenant?

- stable job(income)
- past rental reference

what else?

Seriously, take your business elsewhere.

The agent is simply being reactive. As soon as you stop putting heat on them they'll just go back to their lazy ways. I've stopped given property managers benefit of the doubt - each time ive done so its come back to bit me up the bum.

 

[FormerLurker]

Thank you all for the replies!

I have told that guy that I am not happy with the arrangement and want to terminate the agreement and now he agrees to do a bit more for me.


QUOTE]

I'd still sack him mate - otherwise the minute your back is turned he will be back to Mr lazy incompetant and you have to wander over with the stick again.

Seriously this guy will be to much hassle from the sounds of it you may as well manage it yourself since your likely to have to beat him into doing it for you anyway.

good luck

 

[candyinvest]

actually, can anyone recommed a good PM in Point Cook pls?

I have just talked with another PM and his attitude doesn't seem much better than my current one

i think they don't really care about the rental business in the area given there are so many houses for sale (which earns them big bucks) and rental only provides them little $$$???

 

[Monaro]

the PM was very good before signing the agreement

after that, he changes, doesn't really care or response my queries

would it cost me anythings to end an agreement with him? FYI, he waived all the ad fees.

Did you sign a contract with him? If so, there may be a clause locking you in for a period.

 

[candyinvest]

i couldn't see the "locking" clause in my agreement, so shouldn't be hard to get out

the question is who should i go next then...hmmmm

 

[Player]

i couldn't see the "locking" clause in my agreement, so shouldn't be hard to get out

the question is who should i go next then...hmmmm

I don't have any IP's or contacts out that way, however dug this thread up for you and it has a couple of leads:

http://www.somersoft.com/forums/showthread.php?t=59082&highlight=Point+Cook+Laverton+Altona

Look at Altona, Laverton as well as Point Cook. The PM needs to be within the region, however not always necessarily in the same suburb.

Good luck.

 

[itinerantotter]

i couldn't see the "locking" clause in my agreement, so shouldn't be hard to get out

the question is who should i go next then...hmmmm

Find a woman - I've had (have) great property managers, and they're always women!!

cheers

 

[PCdog]

Have you found a good tenant yet? If not, I suggest to look for a new PM.