How to get rid of a PM

[Aulyna]

Hi all,

Using current PM for over 3 years. Have not been happy with the PM with a few issues, some examples:

1. After purchase the house from another agency who offer manage fees 8%, I called the current PM, the lady who I talked with agreed the manage fee is 7.5% including GST. So agreed to transfer the keys from the sales agent to the current PM.
After signing the contract, found the management fee is not 7.5% at all, it is 8% + GST, equots 8.8% + Sundry fee of few dollors. I did not raise the issue. So paid 8.8%.+ Sundry fee for the past three years.
2. The second year, for some reason, the rent was $30 - $50 shortage. I sent at least two emails, no one answer it over the past two years.
3. The third year renewal, the form I received the renew form, which show the option to arrange the water meter reading on the start of the lease date, by myself or by the PM (maybe with fee charged?).
For the past three years, I pay for the water bills, the tenant would pay for the excess water usage. I thought the tenant would asked to pay for water consumption from the new lease. I emailed them, said please arrange the water meter reading.

A month later, I emailed them again, and asked if they had arranged the water meter reading, they said as it was exist tenant renewed.

I am so unhappy with the PM. What is the process to get rid of the pm?

Any advice would be appreciated. Thanks.

Aulyna

 

[steveadl]

Ha, saw the thread title and thought you meant Julia Gillard!

 

[jaycee]

I thought the same thing, how to get rid of a Prime Minister

Decide if you want to end the relationashiop & tell them, I told mine in writing.

You will also need to decide if you want a new poroperty manager or if you are going to manage it yourself. they wil lthen send the paperwork etc to you or the new PM.

You may find you signed a contract requiring 4 weeks notice , so you may decide to try & negotiate this bit, as some try to chazrge you $, I never paid a cent in 'penalties' to either company I left due to dissatisfaction

 

[laurencei]

I just got rid of my PM who was looking after 2 of my IPs in Sydney West. I heard good things about another PM in a different office, but the same company.

I called the new PM, and he 'picked up the files' from the old PM that afternoon. Because its the same company I dont have to do anything (i.e. new contracts), nor did I have to give notice to the old PM (but she shouldnt have sounded so suprised - I told her 3 months earlier I wasnt happy).


As for your specific situation - you need to give them notice. Check your contact for how much notice is required (could be anywhere from 14 days to 90 ). Then shop around for a new PM who can take over the property and a rate you are happy with.

 

[Tuppence]

Ha, saw the thread title and thought you meant Julia Gillard!

Me too ... and I figured you need to be a miner with about $22 million to spend. Then it's easy-peasy. Can't help with the property end of it though

 

[Peter_Tersteeg]

Me too ... and I figured you need to be a miner with about $22 million to spend. Then it's easy-peasy. Can't help with the property end of it though

$22M to get rid of her would be a bargin. I'll chip in a grand or two.

 

[Rooster]

After signing the contract, found the management fee is not 7.5% at all, it is 8% + GST, equots 8.8% + Sundry fee of few dollors. I did not raise the issue. So paid 8.8%.+ Sundry fee for the past three years.

This appears to be the crux of your problem.

You signed a management agreement without reading it by the sounds of it.

Thus, the blame sits squarely with you.

No point blaming a PM for following the signed management agreement


Rooster

 

[jaycee]

This appears to be the crux of your problem.

You signed a management agreement without reading it by the sounds of it.

Thus, the blame sits squarely with you.

No point blaming a PM for following the signed management agreement


Rooster

Who's blaming anyone for anything (althogh, I would wonder why someone would say "sign with me, it will cost you 7%, either... doesn't exactly seem necessary for th PM to do that unless they are shonky or lazy - plse correct me if I'm wrong, so I wouldn;'t be automatically impressed with them either. ).

The person just asked how to change, they are allowed to do this aren't they..?

 

[Rooster]

Whpo's blaming anyone for anything (althogh, I would wonder why someone would say "sign with me, it will cost you 7%, either... doesn't exactly seem necessary for th PM to do that unless they are shonky or lazy - plse correct me if I'm wrong, so I wouldn;'t be automatically impressed with them either. ).

The person just asked how to change, they are allowed to do this aren't they..?

The poster specifically gave those reasons as why they wanted to change PM's.

The first issue could easily have been averted if the management agreement was read before signing.


Rooster

 

[jaycee]

The poster specifically gave those reasons as why they wanted to change PM's.

The first issue could easily have been averted if the management agreement was read before signing.


Rooster

Regardless, all the person wants to do is change PM's - are they not allwoed to do so cause of what you said ?

 

[Rooster]

Regardless, all the person wants to do is chagne PM's - are they not allwoed to do so cause of what you said ?

Jaycee, where have i said that?

All I am trying to illustrate is that if the poster changes management groups again, and doesn't read the agreement, they may well find themselves in the same position again.

By all means change PM's if you are unhappy, justified or not.

Rooster

 

[jaycee]

Jaycee, where have i said that?

All I am trying to illustrate is that if the poster changes management groups again, and doesn't read the agreement, they may well find themselves in the same position again.

By all means change PM's if you are unhappy, justified or not.

Rooster

I think others, original poster included, may have realised this as well as you mate..... I mean, if i could figure it out all on my own..........

 

[steveadl]

$22M to get rid of her would be a bargin. I'll chip in a grand or two.

More than happy to contribute to that cause.

 

[Tuppence]

More than happy to contribute to that cause.

I think you can donate via the Rinehart and Forrest Benevolent Fund ...