Urgent Reparis

[alarlei]

I am going to sign the exclusive leading and managing authority and have couple issues need you guys help.

1. Urgent Repairs - how much i have to put? can i put down for $100 only?

2. Agents Authorisation - all of the following items have been selected by agent. a. initial leasing.
b. Subsequent re-leasing to initial tenant or assignee.
c. Subsequent leasing to new tenant.
d. Managing the property.
Can i change agent later on if i am not happy with the services they offered?

There is also Owners Instructions to Managing Agent need to be signed.
The following items are from Owners Acknowledgements need to be ticked.
1. Landlord acknowledge that it is agent's recommendation sthat gutters should be cleaned each year after automn.
2. Landlord acknowledge that it is agent recommendation that prior to the commencement of a new tenancy that the locks or barrels of the locks to the property should be changed.
For the above items, do i have to do it?

 

[Goofy]

I am going to sign the exclusive leading and managing authority and have couple issues need you guys help.

1. Urgent Repairs - how much i have to put? can i put down for $100 only?No, under the residential tenancies act the amount must be no lower than $1000. this is to protect the tenant and ensure that they can arrange urgent reapirs (which are in general something that is unsafe or unsanitary) if you are unable to be contacted.

2. Agents Authorisation - all of the following items have been selected by agent. a. initial leasing.
b. Subsequent re-leasing to initial tenant or assignee.
c. Subsequent leasing to new tenant.
d. Managing the property.
Can i change agent later on if i am not happy with the services they offered?If you are unhappy with the services then the management agreement can be cancelled after the exclusive leasing period adn you can transfer the property to another agent. If you do not permitt any of the above then the agent is unable to manage the property

There is also Owners Instructions to Managing Agent need to be signed.
The following items are from Owners Acknowledgements need to be ticked.
1. Landlord acknowledge that it is agent's recommendation sthat gutters should be cleaned each year after automn.
2. Landlord acknowledge that it is agent recommendation that prior to the commencement of a new tenancy that the locks or barrels of the locks to the property should be changed.
For the above items, do i have to do it?
You dont have to do any of those, the agent has put those conditions in there to protect themselves. We always recomend that owners change the lock barrels in between tenancies but it is recomendation only not a legal requirement

Hope this helps!!

 

[Beau Miller]

Spot on Alarlei - basically the same in QLD except the emergency repairs is 2 weeks rent and the tenant has the authority to, if after attempting to contact the agent is unable to, organise repairs for emergency items.

There are some pretty strict rules on what is an 'emergency' though. Goofy I would suggest looking into that to make sure you understand and dont get a surprise if some emergency work has to be arranged.

 

[Lil Skater]

Most agents will still always contact you in regards to urgent repairs before referring to the authority. Put it this way, I have only needed the authority once when the landlord had not informed us they were going away and couldn't get a hold of their daughter (was an authorised contact for the landlord) as a hot water service had burst.

As Goofy said, if you do not leave the authority parts ticked such as initial leasing, re-leasing to a new or existing tenant and managing the property - then effectively you will be self managing!

You don't need to do any of the recommendations, as they are just that, recommendations. One thing I recommend when taking on a new property (if it is an older property) is getting all tap washers changed. Costs $300 give take, but saves that amount or more on tenants
constantly wanting tap washers changed throughout their tenancy because of call out fees.

Gutters ,however, if this small maintenance item ($50-$100) is neglected you can end up paying through the nose to replace the gutter as they may rust through, or worse still, they fill up and help the property light up on a hot day.

 

[alarlei]

Thanks for all of you.

BTW, can you guys give me some recommendations that i should be more careful or what should i put down for additional instructions on Owners Instruction to Managing Agent.

 

[damacc]

I always have 30 day termination clause in my management agreements. This means that if the property manager is no good then I can cease their services at 30 days. In some states 90 days is on the standard agreement.

 

[luckyone]

I always have 30 day termination clause in my management agreements. This means that if the property manager is no good then I can cease their services at 30 days. In some states 90 days is on the standard agreement.

I have mine down to 7 days. If they don't believe that they deliver good enough service that they're happy to sign at 7 days, then I don't want them managing my property. 30 days is far too long if you're unhappy with your agent (I learnt this with my first property).

 

[womble66]

I have a 14 day termination clause, approval for up to $500 for emergency repairs plus a specific hot water system clause to cover any HWS emergency.

I also have an approval clause that states the PM must endeavour to contact me by phone for all approvals, even emergencies, and if they can't get me an email detailing the issue and advice that I couldn't be contacted to be sent to me prior to proceeding (as long as time/timing permits).

This is just so the PM understands I control the outgoings as I live local to my IP so also have access to some tradies and also my own labour at times.

 

[Goofy]

I always have 30 day termination clause in my management agreements. This means that if the property manager is no good then I can cease their services at 30 days. In some states 90 days is on the standard agreement.

no need to do this for Vic authorities... you can cancel the agreement anytime after the exclusive period without a notice period. Its the exclusive leasing period time that you need to look at.. most agents will automatically do 60-90 days but it really depends on the type of property and when it will be available. Ie i will put 60 days on an authority as the time starts from the date of the authority and often i don't get the leasing straight away for a variety if reasons. So if the property is ready to go now you may want to make the exclusive period 30 days and if they haven't leased it or you are not happy with their service then you can terminate the agreement after that.

 

[Rentspecialists]

Negotiate 30 days for you to cease management as this is enough for any good agency