Hi All
I have come across a PM that the only way they will accept rent and accept you as a tenant is if they direct debit your bank account on a fortnightly basis for rent to ensure you are always the 2 weeks in advance that is required.
I asked the other PM I was considering if they could do that and they said they had to offer the tenant 4 different payment methods.
The other PM is a lot cheaper and more responsive so I am erring on the side of appointing them as the new PM BUT only if they will insist only payment method for tenant is by direct debit as per other PM
The PM that only allows this method of payment cites their arrears are almost non-existant and given the tenant I have has gotten into a month arrears and was basically using me to finance their cash flows for xmas and back to school expenses (and every PM who does the normal practice could not do anything until they are 15 days in arrears) I think the direct debit is a good and the only option to deal with this tenant.
As otherwise they will use the system as they have done on several ocassions
What are peoples thoughts?
Also what are peoples thoughts on the below charges by the direct debit only PM:
1) 1.5 times weekly rent to find a new tenant (1 wk rent)
2) $8.80 postage per month ($5.50)
3) 8.8% mgmt fee (7.7%)
4) $55 to do new lease ($33)
5) EOY statement $15 (Free)
6) $165 per hr to prepare for tribunal case ($30)
These seem excessive to me and I will question why if direct debit is free how they can justify these charges when the norm is per my understanding in brackets after their charges shown above
Am I missing something or do other people agree?
I urgently need an answer by tonight as I have to appoint a new PM tomorrow
Thanks guys!
I have come across a PM that the only way they will accept rent and accept you as a tenant is if they direct debit your bank account on a fortnightly basis for rent to ensure you are always the 2 weeks in advance that is required.
I asked the other PM I was considering if they could do that and they said they had to offer the tenant 4 different payment methods.
The other PM is a lot cheaper and more responsive so I am erring on the side of appointing them as the new PM BUT only if they will insist only payment method for tenant is by direct debit as per other PM
The PM that only allows this method of payment cites their arrears are almost non-existant and given the tenant I have has gotten into a month arrears and was basically using me to finance their cash flows for xmas and back to school expenses (and every PM who does the normal practice could not do anything until they are 15 days in arrears) I think the direct debit is a good and the only option to deal with this tenant.
As otherwise they will use the system as they have done on several ocassions
What are peoples thoughts?
Also what are peoples thoughts on the below charges by the direct debit only PM:
1) 1.5 times weekly rent to find a new tenant (1 wk rent)
2) $8.80 postage per month ($5.50)
3) 8.8% mgmt fee (7.7%)
4) $55 to do new lease ($33)
5) EOY statement $15 (Free)
6) $165 per hr to prepare for tribunal case ($30)
These seem excessive to me and I will question why if direct debit is free how they can justify these charges when the norm is per my understanding in brackets after their charges shown above
Am I missing something or do other people agree?
I urgently need an answer by tonight as I have to appoint a new PM tomorrow
Thanks guys!