Hi All
I currently have 2 new properties with the same proeprty manager, they transfer rents twice per month. They are very often late with transfers, with me having to chase them up 3 times already in the past 12 months. The latest debacle is one proeprty is 6 weeks behind & the other 3 weeks. I thought it could be the tennants but wasnt sure, so i rang the one that was 6 weeks behind. He told me he has set up direct debit every week & therefore is always up to date. This now confirms to me the property manager is wholly at fault at hording my rental money. I have rang & emailed demanding immediate transfer of funds but as yet nothing. They owe me $3,200 in rents.
What do you reccomend?
I have thought about self managing, I have one other duplex that I self manage & havnt found it too bad, these other 2 properties are near new with a better class of tennent, professionals with young families, one being on $120kpa & works at the local Uni. The other is a manager at a Harvney Normans store. So they are very unlikely to trash the place or bail out & diappear.
One thing that is partly holding me back is that I believe if I self manage you cannot get rental cover insurance is this true?
Spud
I currently have 2 new properties with the same proeprty manager, they transfer rents twice per month. They are very often late with transfers, with me having to chase them up 3 times already in the past 12 months. The latest debacle is one proeprty is 6 weeks behind & the other 3 weeks. I thought it could be the tennants but wasnt sure, so i rang the one that was 6 weeks behind. He told me he has set up direct debit every week & therefore is always up to date. This now confirms to me the property manager is wholly at fault at hording my rental money. I have rang & emailed demanding immediate transfer of funds but as yet nothing. They owe me $3,200 in rents.
What do you reccomend?
I have thought about self managing, I have one other duplex that I self manage & havnt found it too bad, these other 2 properties are near new with a better class of tennent, professionals with young families, one being on $120kpa & works at the local Uni. The other is a manager at a Harvney Normans store. So they are very unlikely to trash the place or bail out & diappear.
One thing that is partly holding me back is that I believe if I self manage you cannot get rental cover insurance is this true?
Spud
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