Pm demanded increase in commission.

[donkey]

A month ago my tenants gave a months notice and a few days ago the Pm and I agreed on the new tenant with a substantial increase in weekly rent. The property management is not perfect but they have always got me the high rent.

The Pm had an unfriendly tone when demanding a higher commission giving lame excuses. I asked to speak to the boss stating that its unfair to ask this right before the signing of the new lease. They should have done it last month. The licensee said we can raise it next time and I agreed.

In Nsw legislation can they increase the commission if its already stipulated in the management contract that I signed a few yrs ago. They know I will walk if they ask too much.

Now do I expect a year of poor service because the Pm didnt get his way? Real estate agents are a breed of their own...

 

[DaveM]

SO they wanted to raise mgmt %? What is it currently and what do they want to raise it to?

 

[pinkboy]

They want a larger slice of a bigger pie for the same service......

......greed!


pinkboy

 

[Scott No Mates]

You've hit it on the head PB. Not only are the agents clearing more comms due to the better market conditions but they want more generally.

What lame excuses have the agents used so far?

 

[jim1964]

......greed!

Its a shocking world we live in !!!!!

 

[chilliblue]

Issue a termination notice for the allowable period detailed in the agreement and advise them you are not willing to pay above their contracted fee.

Start looking elsewhere if they will not budge from their position.

 

[LeoT]

I agree.

Can't work with people you dont trust anymore.

 

[hobo-jo]

They want a larger slice of a bigger pie for the same service......

......greed!


pinkboy

So you would say the same of any landlord demanding a larger rent increase than the rise in a tenants salary?

 

[D.T.]

So you would say the same of any landlord demanding a larger rent increase than the rise in a tenants salary?

Doesn't it often go up and down in line with the supply and demand for the area?

 

[hobo-jo]

Doesn't it often go up and down in line with the supply and demand for the area?

Of course it does (but misses the point I was making). You don't think property managers have to keep their rates competitive and in line with supply and demand?

 

[Jamie M]

Now do I expect a year of poor service because the Pm didnt get his way? Real estate agents are a breed of their own...

Hey Donkey

The easy solution is to move to another PM if you're dissatisfied with your current. Look at your agreement - issue your notice and move on.

Cheers

Jamie

 

[skater]

A PM automatically gets an increase in commissions when a higher rent is achieved. What else are they going to do for you to warrant a higher percentage to what they've already got?

So, at the moment, you say that the service is less than stellar, and now they want a bigger piece of the pie. I'd be looking at moving the management elsewhere.

 

[cu@thetop]

A month ago my tenants gave a months notice and a few days ago the Pm and I agreed on the new tenant with a substantial increase in weekly rent. The property management is not perfect but they have always got me the high rent.
The Pm had an unfriendly tone when demanding a higher commission giving lame excuses. I asked to speak to the boss stating that its unfair to ask this right before the signing of the new lease. They should have done it last month. The licensee said we can raise it next time and I agreed.

In Nsw legislation can they increase the commission if its already stipulated in the management contract that I signed a few yrs ago. They know I will walk if they ask too much.

Now do I expect a year of poor service because the Pm didnt get his way? Real estate agents are a breed of their own...

What percent are they asking for, what are they currently on and what is the industry norm for the area?

Getting a high rental is not to be sneezed at.