I've currently got tenants that have been in my place for about nine months of a 12 month lease. I was happy with my PM until the company was taken over and then the service went downhill. I'm wondering what my options are in regards to sacking the PM and getting the tenants to re-sign a lease and manage the place myself? The IP is in QLD.
Sacking PM and re-newing lease myself
- Thread starter Zipper
- Start date
Look at your agency agreement. Typically you can terminate them with 30 days' notice, though many will waive the notice period if you've decided you want to leave.
Just provide the appropriate period of notice to the managing agent 30 - 60 -90 days (either before or after you give them notice). Get them to issue the rent review notice as it will take 60 days for it to be effective. You can do the negotiations for the new lease (do it after the new rent becomes effective).
Yep I agree with all. Give your notice as Perp said. After you have taken over it I would organise a Routine Inspection as this is a good time to meet the tenants and see how they look after the house.
You can also start talking to your tenants (at the inspection) about organising another lease for when the current one ends.
Don't forget to send a letter to your tenants of where to start sending the rent!
You can also start talking to your tenants (at the inspection) about organising another lease for when the current one ends.
Don't forget to send a letter to your tenants of where to start sending the rent!
You don't need to change the lease with the tenant. Just change with the appropriate authorities so the bond is in your name and not the agent.
When the agent was taken over, did you sign a new contract with the new compsny?
This happened to me. The new company asked me to sign a new lease but I didn't. When I wanted to terminate they said I had to give 30 days notice. I said no I had no contract with them and I would pick up the keys the next day. They couldn't argue as I had no contract with their company.
When the agent was taken over, did you sign a new contract with the new compsny?
This happened to me. The new company asked me to sign a new lease but I didn't. When I wanted to terminate they said I had to give 30 days notice. I said no I had no contract with them and I would pick up the keys the next day. They couldn't argue as I had no contract with their company.
Hi Zipper,
Im in a similiar situation (qld), bought a house, lease ends in two days. Deciding to jump in and manage it myself (house is in the next street).
Took a look at my contract (which unfortunately I signed on a continuing appointment before making this decision), I'm obligated to 90 days notice or 30 days if they agree.
So, Im going to give written notice to the agent, negotiate a termination date (hopefully less then 3 months) and complete a "Change of lessor or lessors agent (Form 5)" (https://www.rta.qld.gov.au/Resource...cies/Change-of-lessor-agent-or-manager-Form-5) to notify the RTA of the change in lessor. The existing agent will need to sign this form before I can lodge it with the RTA.
This form also takes care of the change in "ownership" over the bond.
Questions if any PMs can answer:
My lease ends in two days, this will put the tenants on a ongoing lease with the existing agent (I dont plan on increasing rent anyway). However, being on a ongoing lease, are their any pitfalls I need to be aware of before signing them up to a new lease?
Correct me if Im wrong, I will be using the General tenancy agreement (Form 18a) https://www.rta.qld.gov.au/Resource...-tenancies/General-tenancy-agreement-Form-18a to setup the new lease?
Hopefully these answers are mutually beneficial
Im in a similiar situation (qld), bought a house, lease ends in two days. Deciding to jump in and manage it myself (house is in the next street).
Took a look at my contract (which unfortunately I signed on a continuing appointment before making this decision), I'm obligated to 90 days notice or 30 days if they agree.
So, Im going to give written notice to the agent, negotiate a termination date (hopefully less then 3 months) and complete a "Change of lessor or lessors agent (Form 5)" (https://www.rta.qld.gov.au/Resource...cies/Change-of-lessor-agent-or-manager-Form-5) to notify the RTA of the change in lessor. The existing agent will need to sign this form before I can lodge it with the RTA.
This form also takes care of the change in "ownership" over the bond.
Questions if any PMs can answer:
My lease ends in two days, this will put the tenants on a ongoing lease with the existing agent (I dont plan on increasing rent anyway). However, being on a ongoing lease, are their any pitfalls I need to be aware of before signing them up to a new lease?
Correct me if Im wrong, I will be using the General tenancy agreement (Form 18a) https://www.rta.qld.gov.au/Resource...-tenancies/General-tenancy-agreement-Form-18a to setup the new lease?
Hopefully these answers are mutually beneficial
The lease is over the property, not with the particular party. The existing lease continues to govern the tenancy, and upon expiry of the fixed term, becomes a month-to-month tenancy of indefinite duration. There is no need to sign a "new lease".
If you want them to go from a month-to-month tenancy back on to a fixed-term lease, that's going to be challenging if they don't want to do so (and most tenants would be reluctant to do so). If they don't do it willingly, then you'll have to issue a notice to vacate for no reason, then offer them a new fixed-term tenancy that they can take up if they want you to withdraw the "notice to vacate".
Unless you have student accommodation, where it's highly seasonal, I don't think it's worth the hassle.
Hey SliderC
Yes that's the correct lease agreement that you can use.
If you have no intentions to sell/move in the next 12 months then I'd sign them up on another fixed term lease. Because in a periodic lease (month to month) the tenants only need to give you 14 days to vacate (in QLD) which is very short compared to the other states. Possibly leaving you with a vacant property.
Yes that's the correct lease agreement that you can use.
If you have no intentions to sell/move in the next 12 months then I'd sign them up on another fixed term lease. Because in a periodic lease (month to month) the tenants only need to give you 14 days to vacate (in QLD) which is very short compared to the other states. Possibly leaving you with a vacant property.
