More than one PM to get the IP rented?
- Thread starter Gruntus
- Start date
Great question. From what I understand (in Victoria at least) you sign an exclusive leasing and managing authority with a certain period of notice required to change managing agents, so I don't believe you can run concurrent managing agents like you can with tandem listings if you are selling a property.
Actually I've just checked my QLD (REIQ) contract for my IP on the Gold Coast and it's a similar scenario.
you can run as many agents as you like to get a property rented - it is the same as open listing (multi-listing) a property for sale.
obviously only one agent manages once a tenant is located.
The down side (as with open listed sales) is that many PM's won't work particularly hard to locate you a tenant as there is every chance that someone else with end up renting it out.
the best thing to do is find a PM who actually knows what they are doing and works hard for you.
cheers
obviously only one agent manages once a tenant is located.
The down side (as with open listed sales) is that many PM's won't work particularly hard to locate you a tenant as there is every chance that someone else with end up renting it out.
the best thing to do is find a PM who actually knows what they are doing and works hard for you.
cheers
I would stay away from doing this as they would shove the first tenant in that they come across to get your buisness.
From a business point of view (I run a property management business) why would you devote resources to getting a property filled if the management is not garanteed?
You would be asking someone to lose money over your listing at the off chance that they could secure a tenant before another agent does. If they take the opportunity they are in a desperate situation and maybe not the agent you want to be dealing with!
You would be asking someone to lose money over your listing at the off chance that they could secure a tenant before another agent does. If they take the opportunity they are in a desperate situation and maybe not the agent you want to be dealing with!
