How To Terminate Your Property Management Company

Ending a Property Management Contract

In most cases, you can terminate your estate agent’s management of your rental property, effective immediately, by written notice to the agent. Check your authority (contract) first.

Are Property Managers Required to be Licensed?

Are Property Managers Required to be Licensed or Registered?

Q:  We have had a property rented out through a property manager for the past three years.  We are not happy with the property manager and don’t feel that we receive value for the fees we pay.  While they do a good job of collecting rent, we had to ask for a property inspection to be done after eighteen months under their management.  Despite repeated requests to see a copy of the rental agreement (as we are not sure that there is one) we can’t get a straight answer and have reached the point where we may ask a friend who lives in the area (we are off-shore investors) to liaise with the property manager on our behalf.

Good Property Management: what to look for

Good property management is key for your property investment

A property investor should not need to worry about their investment property when a property manager has been appointed.  Here are signs to look for to ensure your property is in the hands of good property management.

Tailored fee structures  

Most property management companies have a fee structure in place.  The ability to tailor this feed to meet your individual requirements is critical.   

November Median Prices Update (Victoria, Australia)

Metropolitan and regional

This data release from the REIV compares sales over the 12 months ending 30 November 2011 with the preceding year.

	Nov 11	Nov 10	Annual change	Nov 06	5 year change
Metropolitan Houses Median	$550,000	$546,000	0.7%	$370,000	48.7%
Metropolitan Unit and Apartment Median	$460,000	$460,000	0.0%	$315,000	46.0%
Regional Victoria Houses Median	$315,000	$300,000	5.0%	$247,500	27.3%

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Starting Your Tenancy [what you need to know]

At the beginning of your tenancy, you need to:

• Carefully read and understand the tenancy agreement before you sign it
• Get the landlord or agent’s contact details
• Pay the bond if required
• Pay rent in advance if required
• Fill out and keep a copy of the ‘Condition Report’

Improved Facebook Site

If you are looking for a certain blog article we now have an indexed list on our Facebook site. Simply browse through the list of posts and click to read at your leisure. 

Our 'ask us' page has also been replicated on Facebook.  By doing this we hope to become a valuable resource for property investors, landlords and tenants with questions.  

• True Property Management on Facebook

• Indexed List of Blog Articles

• Your Questions

So, take a look and let me know what you think or the new, improved site.  Your feedback, comments and suggestions would be much appreciated.

Would You Rather be an Owner or a Landlord?

Most of our clients have come to the realisation that being an owner of rental property is far more fun than being a landlord.  An owner doesn’t have to make the hard and distasteful decisions that the landlord must make.  Like enforcing lease provisions, making the tenant pay on time and in some cases, evicting the tenant for breach of the lease.

If you are tired of being a landlord and want to explore the world of property ownership without the headaches and hassles, give us a call.  That’s what we do!

Have you made the change from landlord to owner?  We would love to hear from you ... share in the comments below why you made the change and how this has improved your property investment experience.

Tenancy Laws - How to Deal with Urgent Repairs

If you request urgent repairs the landlord or property agent must respond immediately.  The tenancy laws in Victoria, Australia state that:

 
Urgent repairs are: 

• a burst water service 
• a blocked or broken toilet system 
• a serious roof leak 
• a gas leak 
• a dangerous electrical fault 
• flooding or serious flood damage 
• serious storm or fire damage 
• a failure or breakdown of any essential service or appliance provided by your landlord or agent for hot water, water, cooking, heating, or laundering 

21 Tips to Ensure Your Home is Secure These Holidays

Leaving for the annual holidays, before you pack the car and head off for some well deserved relaxation - take some time to ensure your property is safe and secure in your absence.

1. Do not hide door keys under mats, rocks, flower pots or door ledges.  Leave your key with a trusted friend or neighbour.
2. Do not post on Facebook (Twitter etc) that you are heading away on holiday.  Burglars also know how to search Google.
3. Make sure that you lock all windows and doors, even if just leaving your home for a few minutes. Intruders only need a few seconds to ruin your day.

A Property Manager's Christmas

Don’t you just love it…Christmas time in property management-land.

Just hear those sleigh bells jingling,

ring ting tingling too

Come on, it's lovely weather

for a sleigh ride together with you

Call me Scrooge but as a property manager the thought of Christmas is one of dread!