Does your PM give you your tenants names?

[Jodie701]

We viewed the application of our first tenants, but this time round the RE has found tenants and has only told us of their occupations. I know that we don't really need to know, just curious as to what normally happens.

Also it's been about 3 or 4 months since we've received rent on the property, after the previous tenants turned squatters and got evicted by the sheriff on the 15th of April. It's taken 7 weeks all up for tenants to remove their things and for the PM to find a new tenant (they'll be moving in on the 10th of June). The RE tells us that our insurance will cover this gap. Does this sound right? Sounds a little too good to be true?

Cheers

 

[lura]

You need to be provided with a copy of the lease

Regardless of which State you are in, you need to be provided with a copy of the lease - this will have the full names of the tenants currently residing at your property.

 

[AlmostBob]

We I know that we don't really need to know, just curious as to what normally happens.

What normally happens is the owner has control
and the property manager acts as their agent, employee,
- serf

who owns this property? them or you

 

[ACTInvestor]

I agree with both posts (above). They have to give you a copy of the lease, however, they do not have to provide you with their application form. A good agent should give you a run down of all applicants (from their research on refs etc) and make a recommendation to you. The decision is yours whether you want them in your property.

 

[jaycee]

I'm sure the agent will give a copy of the lease once one is signed.

I asked if I coudl get a copy of the applications, was told no, I asked why, I was advised that it was difficult to scan and send a whole application.

I offered my fax # and told them it arrivf to me as a scanned file via email, they'd be welcome to a copy if they live.

 

[AlmostBob]

asked ?? too difficult ??
its
your tenant and
your property and
your risk and
your liability
your insurers who bite you for anything
and you pay the bills

the bad word filter does not let ya put "three letters: donkey" holes, but it seems appropriate

 

[twobobsworth]

Would have thought this was the time to switch to a new property manager with what you've been through.

 

[lura]

Property managers can't guarantee everything...but at lease they should give the owners due respect.

Anyway, if you are not happy - just change managers - at least you can control this move.

 

[boods99]

Ask yourself this question; would you, in any other situation, be prepared to be a party to a contract without knowing it's explicit terms and conditions, as well as who the other party is?

The Lease is a contract between yourself and the tenant...I would make sure to get a copy asap...

Boods

 

[twobobsworth]

The Lease is a contract between yourself and the tenant...I would make sure to get a copy asap...

Boods

I think this is just the application process, the lease has not yet been signed - correct me if I'm wrong Jodie.

I'll have a guess that the PM doesn't want you to know their names so you can't discriminate based on race. As stated above "normal" practice would be to receive a copy of the lease with a confirmation letter from your PM.

 

[AlmostBob]

I think this is just the application process, the lease has not yet been signed - correct me if I'm wrong Jodie.

I'll have a guess that the PM doesn't want you to know their names so you can't discriminate based on race. As stated above "normal" practice would be to receive a copy of the lease with a confirmation letter from your PM.

discriminate? bohze moi
the pm works in real estate agency, dumb [three letters:donkey] look at me and say "NO, you cant afford this", the rentalsman tell me I couldnt rent the house we closed on and were removing from their management

the pm has no place restricting the landlord's access to the property of the landlord,
the rental applicationis by the prospective tenant to enter into contract with the landlord.
the rental application and all details therein are the property of the landlord,
The contract is, in law, between the landlord and the tenant

unless this pm personally guarantees the performance of the lease and warrants to provide full rent to the landlord for the period of the lease and rectify all damages caused by the tenant they installed at no cost to the landlord ??

if($bs='music') $this='symphony';

Normal is the person who OWNs the property and PAYS THE BILLS make such decision, within the law, as they see fit.
Employees, contractors, agents, do not

 

[Perp]

I know there are many real estate agencies who are terrified of breaching anti-privacy laws, but I can't help but agree with AlmostBob and others of his persuasion... When the applicant provides the information to the real estate agent, it's provided for the purpose of making a decision about whether this person would be a suitable tenant. If you use information only for the purpose for which it was provided, and share it only with parties reasonably necessary for that purpose, you're abiding by privacy laws.

Passing that information on to the landlord - the decision-maker - is entirely consistent with the intent of the privacy laws and not a breach, regardless of what your RE agent tries to tell you. Your PM collects that information as your agent, ie on your behalf. It's for YOU that the information is collected, so of course you're allowed to see it.

(Having said that, I don't really want to see applications, but if I did want to, I'd make sure that I was allowed access.)

 

[bespoke]

Not only was I given the names of our new tenants, I was also given their mobile numbers as there was a wardrobe for this particular property that couldnt be delivered in time for them to move in and it was much easier to liase with the tenants as to when they would be at home than play message tag between the carpenter, myself, the PM and then the tenant.

Worked out fine. Tenants got their wardrobe, carpenter got some work and easy access whilst making only one call, I made one call and the PM made one call.

Otherwise it could have gone on for days......................

 

[lura]

I think feedback for owners should be in the form of:

Viewing completed today 10.00- 10.30 AM.

Numbers: 1
Outcome: Taken application and copy of lease.
Brief: Currently renting in city – want to get away from noise. Current rent $550 per week. Both employed – Name (##employment location and position##, husband – Enoggera Barracks). Lease ends (notice given) 11th June in current property.

Feedback on how your property compares: good. She saw two others in the morning (Grange townhouses - $395, she made a comment about condition of carpet and smaller size of one of the viewed properties. Your property size is much better. She liked the views to the west and the size of the linen press.

Question asked: Does this property have visitor car parking? (they have two cars)
I wasn’t sure so I advised that I would ask you however, there is on street parking (just unfortunate that today was bin day!)

Next step: Taken application, will speak with husband tonight. I have advised they can place application and I will process it pending their acceptance after her husband views the property – I advised we can view property this Sunday (she will advise me if they want to come back and see it completed).

My feedback: she presented very well, she seemed quite interested. They do need a property very quickly and I have advised that I can turn around their application promptly –so this should help. I will let you know if they decide to apply for this property and or request the second viewing this weekend.

Not all my responses are like this, but I think owners should be given as much feedback as possible...and this is at the viewing stage.

 

[jaycee]

I'm sure the agent will give a copy of the lease once one is signed.

I asked if I coudl get a copy of the applications, was told no, I asked why, I was advised that it was difficult to scan and send a whole application.

I offered my fax # and told them it arrivf to me as a scanned file via email, they'd be welcome to a copy if they live.

Thought I should clarify, I recieved the application. It was faxed so I received it as a file which I emailed back just in case they wanted a soft copy.

 

[AlmostBob]

there is definitely something wrong

with someone else entering a contract that binds me before I find out who the other party is,

just sign here lad, we'll fill in the details later, you can trust me, I'm a real estate agent

Danger Will Robinson Danger​

getting a copy after the pm has executed it on my behalf is wrong,
if the bank set the terms and conditions of the mortgage that way, and were bound to it before you got to read those terms and condtions.
just so many threads in Somersoft about property managers who are incompetent.
Are there any forumites who have a good one, to balance up the stupidity meter.

certain that to name and shame the (few?) good ones, as good ones, would be a shame they could endure​

 

[lura]

there is definitely something wrong

with someone else entering a contract that binds me before I find out who the other party is,

just sign here lad, we'll fill in the details later, you can trust me, I'm a real estate agent

Danger Will Robinson Danger​

getting a copy after the pm has executed it on my behalf is wrong,
if the bank set the terms and conditions of the mortgage that way, and were bound to it before you got to read those terms and condtions.
just so many threads in Somersoft about property managers who are incompetent.
Are there any forumites who have a good one, to balance up the stupidity meter.

certain that to name and shame the (few?) good ones, as good ones, would be a shame they could endure​

You have an agency agreement in place with your agents stating how they would conduct the management of your investment property. The agents are then bound by their fiduciary duties to you under this same agreement - generally to act in your best interest.

I guess it all comes down to how they go about doing this....

 

[Perp]

there is definitely something wrong

with someone else entering a contract that binds me before I find out who the other party is​

You have an agency agreement in place with your agents stating how they would conduct the management of your investment property. The agents are then bound by their fiduciary duties to you under this same agreement - generally to act in your best interest.

I agree with both of you. AB, I'm not sure how familiar you are with agency agreements, but it's your responsibility as the landlord to ensure that they are happy with the extent of duties they have delegated to the PM, which you are able to change and negotiate before entering an agency agreement. If you don't want the PM to enter into a lease on your behalf, then you can easily stipulate this in the PM agreement.

I'm with Dazz that it's up to people to READ and UNDERSTAND contracts - whoever they're with - before entering into one which could jeopardise everything that you own.

The PM I've had for 3 months now seems to be excellent. Whilst it's not that long by the calendar, he's signed about 20 leases for me in that time and negotiated a few tricky situations (very well, in my view), so we've had a lot of interaction and I feel confident that we're going to have a long and mutually satisfactory working relationship. Unfortunately he only works in the student accommodation niche, so there's little point sharing his details, but he's a ripper.

He's an ex-RAAF Warrant Officer, too, which is nice. It's amazing how many things we share - a way of doing things, a viewpoint of people's roles, a way of communicating - which I somewhat take for granted. A classic example is "chain of command"; it's crystal clear in my mind who are the appropriate people to take up various issues with, where you go next if that's not satisfactory, etc, and I have a strong sense of why it's poor form (and likely to lead to sub-optimal outcomes) to step outside that structure. I'm constantly reminded, when I see people violating this principle, that what seems like "common sense" to me, is in fact not that common. ​

 

[AlmostBob]

I agree with both of you. AB, I'm not sure how familiar you are with agency agreements, but it's your responsibility as the landlord to ensure that they are happy with the extent of duties they have delegated to the PM, which you are able to change and negotiate before entering an agency agreement. If you don't want the PM to enter into a lease on your behalf, then you can easily stipulate this in the PM agreement.

not at all familiar with the agreements in place for others, just familar with the number of unhappy campers

I'm with Dazz that it's up to people to READ and UNDERSTAND contracts - whoever they're with - before entering into one which could jeopardise everything that you own.

The PM I've had for 3 months now seems to be excellent. Whilst it's not that long by the calendar, he's signed about 20 leases for me in that time and negotiated a few tricky situations (very well, in my view), so we've had a lot of interaction and I feel confident that we're going to have a long and mutually satisfactory working relationship. Unfortunately he only works in the student accommodation niche, so there's little point sharing his details, but he's a ripper.

He's an ex-RAAF Warrant Officer, too, which is nice. It's amazing how many things we share - a way of doing things, a viewpoint of people's roles, a way of communicating - which I somewhat take for granted. A classic example is "chain of command"; it's crystal clear in my mind who are the appropriate people to take up various issues with, where you go next if that's not satisfactory, etc, and I have a strong sense of why it's poor form (and likely to lead to sub-optimal outcomes) to step outside that structure. I'm constantly reminded, when I see people violating this principle, that what seems like "common sense" to me, is in fact not that common.

> dons leprechaun suit>> 'Tis the wearing o' the green, that does it. (green : also blue, you get the idea,) exit; dancing jig.
training in standardised communication,
communication errors get people killed

just so many threads in Somersoft about property managers who are incompetent.
Are there any forumites who have a good one, to balance up the stupidity meter.
certain that to name and shame the (few?) good ones, as good ones, would be a shame they could endure

no plug?

 

[jaycee]

there is definitely something wrong

with someone else entering a contract that binds me before I find out who the other party is,

just sign here lad, we'll fill in the details later, you can trust me, I'm a real estate agent

Danger Will Robinson Danger​

getting a copy after the pm has executed it on my behalf is wrong,
if the bank set the terms and conditions of the mortgage that way, and were bound to it before you got to read those terms and condtions.
just so many threads in Somersoft about property managers who are incompetent.
Are there any forumites who have a good one, to balance up the stupidity meter.

certain that to name and shame the (few?) good ones, as good ones, would be a shame they could endure​

You're off track Bob.

We are talking about the tenant's application form to be considered for a lease.

Not the lease itself, which we all agree should be providd before signing etc.

The PM has this initial application as the tenant would have physically handed it to them, and therefore we the landlord can only receive the copy once it is filled out.