Small reno before new tenant signed

[ZachAnSel]

Hi Guys,
Tenant was expired and moving overseas in 5 weeks. I want to arrange small reno between lease change. Reno will be : change the carpet into wood flooring, patch small hole and painting. After that I will organise cleaning and full valuation.

Property interstate, 3BR duplex, time wise this will take 1.5-2 weeks approx.
Purpose to get valuation, and increase weekly rent

Questions is: since your PM will have no income for 2 weeks time. Will you compensate their time to hand over the keys, etc?
Or how far your PM beyond his service line

I haven't mentioned this to my PM, he is good bloke, we never had any issue for the past 4 years. Willing to get more input..
Please share your experience, thanks

 

[Ed Barton]

Hi Guys,
Tenant was expired and moving overseas in 5 weeks.

Was he found dead in the house?

 

[geoffw]

PM would normally charge a percentage of rent, plus a relet fee- perhaps one week's rent. Advertising for tenant may be extra as well.

 

[Sez]

As a PM I've not charged LL's to co-ordinate the improvements to their investment properties. If you look at your authority it should list the fees involved with re-leasing to a new tenant, I would think that this is likely going to be the extent of your charges. Depends a lot on your agent and the state though .

 

[ZachAnSel]

Was he found dead in the house?

Thanks Ed,
my english is damn poor.. still in improvement phase..

 

[ZachAnSel]

PM would normally charge a percentage of rent, plus a relet fee- perhaps one week's rent. Advertising for tenant may be extra as well.

Thanks Geoffw, do you think if I signed the fixed fee service model this will be eliminate the issue?

As a PM I've not charged LL's to co-ordinate the improvements to their investment properties. If you look at your authority it should list the fees involved with re-leasing to a new tenant, I would think that this is likely going to be the extent of your charges. Depends a lot on your agent and the state though .

Thanks Sez, I don't have written statement of what include or exclude other than pay the rates, insurance. This is totally grey, and first time experience for me. Usually I target newish property due to max depreciation and try to avoid this. But at some point, I believe we will have this experience in property stage.

I definitely after long time mutual business, if PM will charge me that is fine as long as acceptable (example keep charge 7% from weekly rate, or even charge another $100-$200 on top of that). At the end of the days its business expense.

I guess the best way is to call PM and explain what is my objective and find out time/cost involve from him. I will list down dot point if required, what I need PM assistant for.
Example :
1. Hand over the key on date xx/xx/xxxx to Vendor Y for wood floor installation
2. Collect the key on date xx/xx/xxxx from Vendor Y
3. Hand over the key on date xx/xx/xxxx to Vendor Z for painting
4. Collect the key date xx/xx/xxxx to Vendor Z for painting
5. Assist full valuation (appointment, and physically attend)
6. Hand over the key on date xx/xx/xxxx to Vendor A for cleaning
7. Collect the key on date xx/xx/xxxx from Vendor A

sound like tell the PM how to suck the egg..