Conveyancer in ACT???
- Thread starter Jas
- Start date
A follow on to this.
I did use another solicitor for my previous purchase.
There was a problem- and I'm not sure whose fault it was.
The tenant had paid, just before settlement, four weeks in advance.
I changed the PM at settlement- same company, different branch (both vendor and tenants had complained about the PM).
The solicitor had not sought the advance rent, and the previous PM held it for two weeks- and then paid it to the vendor.
That was about $300 I missed out on- at a time when cashflow was very tight. The solicitor blamed the PM (and the PM blamed the solicitor). The solicitor sent a letter to the vendor- but in the end wore the cost.
Who is actually responsible for collecting and settling advance rent?
I did use another solicitor for my previous purchase.
There was a problem- and I'm not sure whose fault it was.
The tenant had paid, just before settlement, four weeks in advance.
I changed the PM at settlement- same company, different branch (both vendor and tenants had complained about the PM).
The solicitor had not sought the advance rent, and the previous PM held it for two weeks- and then paid it to the vendor.
That was about $300 I missed out on- at a time when cashflow was very tight. The solicitor blamed the PM (and the PM blamed the solicitor). The solicitor sent a letter to the vendor- but in the end wore the cost.
Who is actually responsible for collecting and settling advance rent?
Hi Jas,
I don't like to recommend anyone for obvious reasons; however friends also used Jan McNutt last week and I did some running around for them as they had moved to Adelaide - attended settlement, dealt with agents and banked cheques etc.
Jan proved to be very efficient and knew what it was about.
regards, MC
I don't like to recommend anyone for obvious reasons; however friends also used Jan McNutt last week and I did some running around for them as they had moved to Adelaide - attended settlement, dealt with agents and banked cheques etc.
Jan proved to be very efficient and knew what it was about.
regards, MC
My first property the rent was diveded by the days and was taken off the purchase price at settlement. That was self managed being sold to me to manage myself.
Second property same conveyancer but managed by an agent, I was told to sort it out with the property manager. Property manager made it easy by saying he hadn't billed them so I could.
My guess is the conveyancers sort it out and if it falls your way it is from when contracts were signed, when that week/months rent was due or at settlement date. From settlement date on I would expect to get the rent money.
bundy
Thanks Bundy.
It would have seemed to me to be a common enbough situation that either the solicitor or the PM would have had a precedent.
The PM said that he waited for the solicitor advice, but did not get any, so went the rent to the vendor.
The solicitor says it was the PM's responsibility.
The solicitor has been decent enough to wear the cost- but I suspect it may have been the PM's responsibility.
In my last purchase, I kept the PM, and everything went smoothly- all owings went to me- including the rent from the lady who had paid three months in advance!
It would have seemed to me to be a common enbough situation that either the solicitor or the PM would have had a precedent.
The PM said that he waited for the solicitor advice, but did not get any, so went the rent to the vendor.
The solicitor says it was the PM's responsibility.
The solicitor has been decent enough to wear the cost- but I suspect it may have been the PM's responsibility.
In my last purchase, I kept the PM, and everything went smoothly- all owings went to me- including the rent from the lady who had paid three months in advance!
