Time for a new PM - Perth

[theycallmeloz]

Hi Guys

We're having a terrible time of it lately. We have been signed up with our PM for 11 months and whilst they originally went fine, they have just deteriorated rapidly. We've had 4 different property managers and 3 different leasing agents to deal with in that time and the emails are always generic like [email protected] or [email protected]. So I never know if I'm using the right email address or what. I certainly don't often get a reply. They don't call when they say they will call, they don't reply for emails for many days and a lot of the time not at all. They charge fees for things that I told I didn't wanted, they arranged all my bills to be sent there when I specified I wanted to manage this myself and then they used my rent to pay the rates - even though I had just paid the rates myself. Charged for property inspections that they didn't complete. And now, they have really screwed me over. Our tenant bought a property which was due to settle in June. They spoke with me to ask if he could break the lease, although they specified he would still have to pay rent and costs until a new tenant was found. He moved out and stopped paying. And no one picked it up until I got my rental statement 5 days later. Long story short, they couldn't get in touch with the tenant because he was away. So they issued breach notice or termination notice - not sure. Finally got it touch with him, he said it was a misunderstanding, that the precious property manager had told him he could move out and only pay rent up til move out date. Apparently all cleared up and he was aware he had to pay rent til lease expired or new tenant found. This was two weeks ago. I email last week asking if he is out of arrears now. No response. I call yesterday - oh she was just in the middle of emailing me. Excuse me? You couldn't pick up the phone?? Anyway, because they issued the termination notice, the tenant is like, sweet, you've terminated me, I'm not paying any not paying anymore rent. So so so disappointed and frustrated. I honestly want to sell my apartment because I've heard all PM's are the same. I don't babe the time to manage the property myself.

Questions 1: any property manager recs for Perth that will cover the Cockburn Central area? I honestly don't ask for much as a landlord - just that they keep me up to date with what is happening with my property.

Question 2: I have to apply to my landlords insurance for loss of rent - will I need my current PM's help with this? Fortunately, I only signed a 12month agreement with them, which expires soon. But I don't want them to be painful because they aren't my PM anymore.

Question 3: should I let the principal know of the experience I have had? He was the one that convinced me to sign with them. It's his staff that have been useless.

Thanks for reading and any advice.

 

[superAndrew]

Question 3: should I let the principal know of the experience I have had? He was the one that convinced me to sign with them. It's his staff that have been useless.

Yes. I would have complained straight from the beginning.

Cheers
Andrew

 

[theycallmeloz]

Yes. I would have complained straight from the beginning.

Cheers
Andrew

I should have. I didn't want to get them offside tho. Silly me.

 

[theycallmeloz]

The communication problems are definitely annoying, but as for arranging all your bills to be sent to them - that's an awesome service! You say you "don't have time" to self-manage, so why do you want the bills sent to you?

Thanks for your input, and I can appreciate your opinion regarding the paying of the bills - but I didn't want them to do that. I don't need to answer why I want to pay the bills - that is my business. I specifically said that I didn't want them to do this, so it was very frustrating that my rent was used to pay rates, when I had already paid them. When I questioned them about this, I was told that the council had made a mistake. Wtf?

As for emailing you rather than phoning, many - like me - much prefer contact via email than phone, because 1) there's a record of what was said, and 2) I can attend to it at a time of my choosing, not theirs.

I also prefer email rather than phone call, for the reasons you stated above. But the fact remains that they often don't reply to my emails, nor call me back. The fact that she was emailing me to let me know that I wasn't going to be getting any rent after phoning me to tell me that she had sorted it all out is concerning for me - not the type of person I want managing my property.

As to the tenant breaking the lease, don't you have four weeks' bond? I read your message as saying that they're two weeks in arrears, and if you get a tenant within the next two weeks, then their break will be covered by the bond, so an insurance claim would be premature. Further, the PM can't strong-arm them and force them to pay, so I hardly see how this is their fault.

Firstly, the PM is the one telling me I need to lodge an insurance claim. This is the first time I have had to do this, so i am not totally sure how it all works.

Secondly, I wasn't expecting the property manager to strong-arm the tenant. I do expect the property manager to notice when the tenant has gone into arrears. I don't expect to have to call the property manager to ask if my tenant was in arrears because that is what it looks like on my rental statement. I don't expect to have to call my property manager for an update on my tenant being in arrears when they repeatedly promised to call me and let me know what is happening.

So whilst they haven't been excellent, your fury seems a bit disproportionate; the only thing I really see them having done wrong is being poor communicators. And sadly, that's fairly common. That doesn't excuse it, my point is just that this doesn't sound like an outrageously atypical experience.

I respect your opinion, but I am in this situation, not you, so I don't think you can really say that my fury is disproportionate. Also, if you refer to my original post, I was asking for recs for new property managers, advice about lodging insurance claims, and whether I should discuss this with the principal - I wasn't asking for validation of how I feel.

 

[attrill]

There are good property managers out there but they are hard to find. Perhaps some suggestions can come from the forum.

I used to prefer the phone rather than email, but after many cases where somebody conveniently forgot or just blatantly lied, I now do all communication with property managers via email and keep a copy of it.

I hope you find a better one soon.

 

[HD_ACE]

What a ballsup

Pm me if you would like to have a chat to a decent pm and i will put you onto mine.

 

[theycallmeloz]

Thanks atrill and HD_ACE. Will PM you

 

[flyhere]

there are good property managers out there but they are hard to find. Perhaps some suggestions can come from the forum.

I used to prefer the phone rather than email, but after many cases where somebody conveniently forgot or just blatantly lied, i now do all communication with property managers via email and keep a copy of it.

I hope you find a better one soon.

Ｓｔｒｏｎｇｌｙ　ａｇｒｅｅｄ　ｗｉｔｈ　ｙｏｕ！

Ｅｍａｉｌｓ　ｃａｎ　ｓａｖｅ　ｌｏｔｓ　ｏｆ　ｔｒｏｕｂｌｅ　ｗｈｅｎ　ｔｈｅｙ　ｔｒｙ　ｔｏ　ｄｅｎｙ　ｓｏｍｅｔｈｉｎｇ　ｉｎ　ｆｕｔｕｒｅ　ａｌｓｏ　ｇｏｏｄ　ｆｏｒ　ｒｅｃｏｒｄ　ｋｅｅｐｉｎｇ　ｔｏｏ　ｉｆ　ａｎｙｔｈｉｎｇ　ｈａｐｐｅｎｓ　ｗｈｏ　ｋｎｏｗｓ？

 

[flyhere]

i should have. I didn't want to get them offside tho. Silly me.

Ｉ　ｄｉｄ　ｔｗｉｃｅ　ｂｅｆｏｒｅ　ｗｈｅｎ　Ｉ　ｈａｄ　ｃｏｎｔａｃｔｅｄ　ｔｈｅｍ　ｆｏｒ　ａｂｏｕｔ　ｏｎｅ　ｍｏｎｔｈ，　ｎｏｂｏｄｙ　ｇａｖｅ　ｍｅ　ａ　ｒｅｐｌｙ．

Ｔｈｅ　ｒｅａｌ　ｗｏｒｌｄ　ｉｓ　ｉｆ　ｗｅ　ａｒｅ　ｋｉｎｄ　ａｎｄ　ｎｉｃｅ，　ｔｈｅｙ　ｔｈｉｎｋ　ｗｅ　ａｒｅ　ｗｅａｋ　ａｎｄ　ｓｉｌｌｙ

 

[DaveM]

My eyes, the goggles, they do nothing...

 

[Colin Rice]

I deal with a good one located in Gwellup that service Perth metro;

Helen Campbell
Realmark Premier
mobile: 0478 685 562
office: 08 9242 8200
email: [email protected]

Questions 1: see above

Question 2: tee up the required assistance before you terminate the current agreement.

Question 3: Yes.

 

[flyhere]

HI guys,

Thanks a lot for so many great advices!

Can you please tell me if I will have any penalties or compensations to current PM after I send them 28 days notice according to the property authority agreement to change from current PM to another new PM because I am really not happy with their service?

The Authority agreement will expire in the end of this November. My property is in Perth, they charge me premium management fees, but the services I get are not premium at all, lots of issues have to keep an eye on them and chase them again and again, really I have been thinking of changing PM for a long time one month after I signed agreement with them, but worried a lot their penalties or compensations.

Any good thoughts?

 

[Chooke]

Op
If your property is in the Cockburn area try defreitas and ryan. I have used them for a couple of years now and find them pretty good. They also are very reasonable in regard to fees (well, by Perth standards anyway), charging 10% of rent collected and no extra for letting fees, inspection fees, court attendance fees etc. Their agreement also only requires 30 days termination notice so it easy to change PMs if unsatisfied - plus, as a bonus, you have secured a tenant without a letting fee.

The only downside with them is they only pay you the rent collected on a monthly basis. My previous PMs paid fortnightly to align with the mortgage payments.

 

[Colin Rice]

Op
If your property is in the Cockburn area try defreitas and ryan. I have used them for a couple of years now and find them pretty good.

The only downside with them is they only pay you the rent collected on a monthly basis. My previous PMs paid fortnightly to align with the mortgage payments.

Have dealt with them in regards to client purchases and seemed reasonable to deal with.

Monthly rental payments should not be an issue if on IO payments (as interest is paid monthly on IO mortgages) which is recomemded in the majority of circumstances.

Tell them you want fortnightly rent payments if it is an issue or you wont engage their services.

 

[Spades]

My eyes, the goggles, they do nothing...

You weren't only one squinting.You need to be fly to read the fineprint

Anyhow,what numpty named a suburb Cockburn in perth/SA?

I know what i'd be putting on my number plates

 

[Colin Rice]

Anyhow,what numpty named a suburb Cockburn in perth/SA?

We also have a suburb called Innaloo and another called Upperswan.

BTW Cockburn, pronounced Coburn is in WA not SA.

 

[Chooke]

Have dealt with them in regards to client purchases and seemed reasonable to deal with.

Monthly rental payments should not be an issue if on IO payments (as interest is paid monthly on IO mortgages) which is recomemded in the majority of circumstances.

Tell them you want fortnightly rent payments if it is an issue or you wont engage their services.

Hi Colin

You are correct in saying that interest on IO mortgages, like regular mortgages, are paid monthly. However some of us prefer not using IO so as to build equity faster. I did try requesting fortnightly rent payments but defreitas and ryan would not do it saying that standardisation for all their clients helps keep their costs down. Nevertheless, considering what I'm saving in total PM fees compared to others in Perth it is something I can live with.

 

[Colin Rice]

Hi Colin

You are correct in saying that interest on IO mortgages, like regular mortgages, are paid monthly. However some of us prefer not using IO so as to build equity faster.

Thats one way, but can achieve the same result with IO loans by retaining funds in the offset and paying down non deductable debt when required to release equity yet have the major benifits of better managed cashflow and a larger cash buffer as well.

Even if you have zero non deductable debt its still a better risk management strategy.

As with all businesses cashflow is king and why would you give the bank (or anyone) more than the min amount they require or ask for and Im not advocating to rip people off, the opposite actually?

 

[D.T.]

Hi Colin

You are correct in saying that interest on IO mortgages, like regular mortgages, are paid monthly. However some of us prefer not using IO so as to build equity faster.

You can also build equity faster by spending less on existing assets and more on acquiring additional assets