(http://www.tenantmanagement.com.au/videos/09-not-happy-with-your-property-manager/) - Hello, my name is Michael Gilbert and I’m here in behalf of tenantmanagement.com.au. Today, this episode is called, “I’m Not Happy with My Property Manager!” So what do you do? You’ve got to change something. This episode is going to be split up into two parts. Part one, if you’re changing from using a property manager or Real Estate Agent to Doing It Yourself, or using an online system like Rent My Estate; Or part two will be another day, and that’s if you’re changing from your property manager to a different property manager.
Tenant ManagementSwitching to Rent My Estate when managingyour rental property1 of 5I’m Not Happy with My Property Manager!Hello, my name is Michael Gilbert and I’m here in behalf oftenantmanagement.com.au. Today, this episode is called, “I’m NotHappy with My Property Manager!” So what do you do? You’ve gotto change something. This episode is going to be split up into twoparts. Part one, if you’re changing from using a property manageror Real Estate Agent to Doing It Yourself, or using an online systemlike Rent My Estate; Or part two will be another day, and that’s ifyou’re changing from your property manager to a different propertymanager.
2 of 5Tenant ManagementWrite a formal notice to your property managerSo in this part one, there are four steps. Step number one is to give notice to your property manager in writing. Thiscould be in a simple email. In terms of the notice that you need to give to your property manager, you should checkyour managing agency agreement, and this could be from 30 days to even 60 days. But to give you an example, myselfas a property manager, if I had a property owner that was not happy with my services, I would not require any noticewhatsoever. I’d be happy to hand over the management to another agent, or in this case here, let them manage theirown property whichever way. Reason for that is I don’t want to manage someone else’s property if they’re not happywith my services.With regards to the notice that you need to give, I have actually got a template. So what you need to do is jump ontenantmanagement.com.au, put in your email address, and we’ll send you a template of the notice that you should giveto your current property manager.I’m Not Happy with My Property Manager!
3 of 5Tenant ManagementNotify your tenants of the switcStep number two is you should notify your tenants. This could be ageneral phone call, it could be an email, or it could be a letter. Youjust need to give your tenants notice that you intend to manageyour own property. The reason for this is that tenants like to knowwhat’s going on. Also, when it comes time to taking over themanagement of your property, the tenants will be paying rent intoyour bank account and not your old agent’s bank account.I’m Not Happy with My Property Manager!
4 of 5Tenant ManagementTaking over the property managementStep number three, on the final day of your notice period to your current agent that you’re going to be taking over themanagement is that you need to go into the agency and you need to pick up some documents. They include the keys –all the keys to the property, you need to pick up the current lease of the property with your current tenancy there, youneed to pick up the application form of your current tenants, the condition report, this might also include an inventoryand also some photos of the property. You also need to pick up a bond form. This bond form is generally called “changeof managing agent/owner” form. It could be different in your state. This also should be signed by the current propertymanager so you can take over the actual bond itself. You also need to pick up a tenant ledger. The reason for this isbecause you need to know what your current tenants are paid up to exactly to the day, and you should also notify yourtenants of what they’re paid up to.I’m Not Happy with My Property Manager!
5 of 5Tenant ManagementComplete the Bond formStep number four, you should notify your tenants that you havenow taken over the management of the property and like I saidbefore, notify them of where they’re paid up to, and it’s also a greattime to organize a routine inspection to ensure that everything isrunning smoothly. Step five Complete the bond form, the signedbond form that you received from your agent, and send it off to therelevant bond board within your state. So those are the five stepsthat you need to do to change from a property manager that you’renot happy with to managing your own property or using an onlineservice like Rent My Estate. I hope you’ve learned something today,and if you would like to know more information about this topic,jump on to our website, tenantmanagement.com.au. Thank you forlistening, I’m Michael Gilbert, and this is Tenant Management.I’m Not Happy with My Property Manager!