When to organise PM?

[churchado]

My partner and I just bought our first IP and it will be settled in the first week of February.

It's currently tenanted but we have asked for vacant possession so we would obviously like it to be rented ASAP after setllement (give or take a day or two for claning/minor repairs etc).

When can/should we start organising a property manager? The current Real Estate who is the PM seems good so we may just keep them which I assume makes the process easier.

What I'm wondering is legally when can we approach them and begin advertising and also what length of time do we need to find good tenants?

 

[Spades]

Hi churchado,

What was wrong with the current tenants?

ReM start looking for one now.

Also you could have put in the contract that you require inspection eg: once a week for potential tenants to view say 1 month prior to settlement.

Might be worth the ask,to ask the vendors solicitor if you could have an open eg:1 month prior to settlement for potential tenants.

Cheers Spades.

 

[marg4000]

Again, why on earth evict tenants unless they had a poor record?

Otherwise you could have been receiving rental income from day 1.

There are state regulations regarding how often tenants can be disturbed and they often don't make it easy to have new prospective tenants shown the property. They have legal rights in this issue.
Marg

 

[churchado]

Current tenants were described by the PM as "less than desirable" They were also paying about $40-50 under the market rent so would have been hard to raise it to what we want.