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Wylie, Why would the WA Dept Of Consumer & Employee Protection, twice, tell me differently over the phone.
Wylie, Why would the WA Dept Of Consumer & Employee Protection, twice, tell me differently over the phone.
Amazingly, all accomplished without a PM and without breaking the law
Benefit of a PM in this situation(apart from them knowing the law without ringing authorities) IMO is time and stress. If you have a good PM you would not even know the rent was paid late unless it is going to effect your fortnightly/monthly payment from the agency. I know one of my tenants has paid late a couple of times but I never hear about it as it is paid before my payment from agency.
I do self manage one of our IP's at the moment, but it is a stress free one, long term tenant pays rent via DD weekly and rarely calls about anything we see her once a year for inspection. With that property before her we did have problem tenants and once she moves out I would possibly consider getting a property manager as I feel the stress/time associated with problem/high maintenance tenants isn't worth the 5-10% commission saved
Sure, who is this good PM in Perth who charge 5-50% of your rent to mange tyour portoerty - assuming they do it well, that' sa bloody bargin
My expeirnce has been with 3 reasonably well known firms, that the cahrge is closer to 18%... now, as I only getr 20% back from tax, that mean 14.4% of gross rent after tax consdierations...... and the PM did not know what they were doing nor how to do it any better than I did, they just worked around real estate stuff so felt more familiar with it
- Here's an exampel,
"Is my landlord's inurance up to date"
- "Yes it is, but I think you shoudl increase it to include RENT COVER ULTRA"
"What does that included that RENT COVER doesn't ?"
- "What do you mean ?
"I mean it wil lcost me more money so it must cover more stuff 0- WHAT MORE STUFF DOES IT COVER ?"
- "Oh stuff like... I wil lhve to check"
Next, I receive an email from my insureer stating I cannot get a certificate of currency for my insurance as I do not have buidlign insurance with them
I ring the insurer and expalin all I want is somethign like a PDS so I can see what they are offering and decide which to buy - within k1 minute I have both RETN COVER & RENT COVER ULTRA insurnace PDS's
I email the PM to say ok then, increase my cover to RENT COVER ULTRA - she writes back telling me I was already had RENT COVER ULTRA
----
The last PM I had did not pay me the firts months' rent. They rolld over the balance I rang them ,took them a few days to get back to me
They then paid me the wrong amount.
So forgive me if my experiences have suggested it is not so stress free jsut cause one hires a PM , what else can I say ?
As I said though, you show me who does this and the qualtiy of workj they do, for 5-10% of annual rent & I'll seriously consider it, I'm yet to see asnythign of the sort - happy to be proven wrong of course, I don't want the worldto be a bad place...
He's trying to say:Not quite sure what you're trying to say or suggest there Deltaberry
He's trying to say:
"Hi, I've actually got a very small set of plums but I compensate with the fact that my mummy has 6 properties, and doesn't need to charge market rent"
just boot and claim on insurance much easier, takes awhile but u get all the dosh in full
Apparently the Dept of Consumer & Employee Protection disagree.
Just been advised today that I have “no choice but to “continue to treat it as normal” as if the tenant on the leas still occupies the property.
With this in mind, I have made a note in my calendar and pre filled out he Notice to evict form, ready for delivery/postage…..
Hopefully rent will be paid tomorrow like the hand written note said…. One thing that was “good” to see during all this was that the house was spotlessly clean…
See how it goes I guess…..