Is this the right way to go about it?

[7smurfs]

I have purchased an apartment in which I plan to live in for 6 months (FHOG).
Initially, I was going to move in at the end of the year however due to certain circumstances I am looking to move in ASAP.

The apartment is currently on on a periodic tenancy lease with a questionable property management company (long story short, they have left me with only 2 days to organise everything on my own due to lack of communication and false promises) with the apartment due to settle this Thursday.

I do not plan to use the previous property management company and wish to self manage the apartment as I will be submitting a notice to vacate to the current tenants.

Is this the right process to go about it?

1) Previous docos - I have repeatedly tried to get tenant details, original signed lease docos, inspection reports etc from the current PM to no avail. Will continue to chase this information.

2) Final inspection (tomorrow) + notice to vacate - I plan to meet with the current tenants and provide the 'Notice to Vacate' form to them whilst at final inspection.

OR

Should I be getting the current PM to be sending the tenants the notice to vacate and let them deal with it?

3) Bond - not sure at all about what to do regarding the bond. Will need to do urgent research! I believe it is currently held with the current PM. EDIT: I will have to pursue the Bond Number and tenant details urgently tomorrow!

4) Signed forms + bank account - I arrange to meet with the tenant on Saturday/Sunday to pick up the signed forms and provide them with my bank account/contact details for regular payment

5) Sit back and hope that the tenants continue to pay their rent and vacate within 2 months

OR

Should I scrap all these steps of self managing for the vacate period and just cough up the money for a different PM to manage it!

As you can see I'm very new to this, any help would be much appreciated!!

 

[The Y-man]

Read EVERYTHING in the site below

http://www.consumer.vic.gov.au/housing-and-accommodation/renting

Note: It is illegal for the PM to hold the bond (or the landlord)

The Y-man

 

[matto_]

If it is your first ip, might be best to get pm to manage it for your SANF.

Normally there is certain notice periods tenants need to be given. Not sure how purchasing a prop impacts this.

 

[7smurfs]

If it is your first ip, might be best to get pm to manage it for your SANF.

Normally there is certain notice periods tenants need to be given. Not sure how purchasing a prop impacts this.

I am also considering this going with the RE agent PM (hockingstuart) for SANF for 2 months...

In regards to notice periods, it shouldn't be an issue with 60 days notice under 258(1) - occupation by landlord or family

 

[pennyk]

I would definitely use a PM. If you were taking over an existing tenancy, and planning to keep the tenants in place I would consider self managing.
but in this situation, where you are immediately giving notice to leave, then I think its better to have a gobetween who can manage that all for you.. save all the headaches and possibly heartaches of not doing things the right way.

 

[7smurfs]

Thanks Penny. I will look into waiving the exclusive authority by the PM from 9 months to 2