Managing the Manager

[cube]

Hello all.

Is it reasonable to

i. Ask for copy invoices/receipts for all work carried out at the behest of the PM
ii. Ask to be informed of upcoming inspections, so that the owner has the option of accompanying the PM to check out maintenance/improvement opportunities.

We have asked two property managers to do this and neither has complied to our satisfaction.

cube

[Keys]

Not hard to do.

Mind you, the larger companies should have software to make this easy for owners. Does your one have landlord access to data on line?

As for the inspection subject. Unless you are named on the TA as the landlord, you have no rights. I suggest you require your PM to name you on the TA as landlord. Do you have copies of the TA's? I don't generally send them on but have them available to send should an owner ask for them.

[DazRaz]

How can you do your tax return without the invoices? I wouldn't have thought that a line item on a PM's Statement would be sufficient proof of work completed if you were audited?

[sheree99]

Most accountants do not require the invoices to do the tax return. Most only require the 1 page end of year statement that itemizes all the income and expenses.

As for the inspections. I'm assuming you are not asking to visit the property once a year etc but on each and every inspection. Don;t you trust your PM to do their job? / Why do you have PM if you want to do the inspections?

[DazRaz]

And if you are audited? Are you saying that IRD no longer require these to be retained?

[Perry]

The statement from the PM would - I suspect - be classed as
a copy-tax-invoice or the like. The real invoices are likely to
be in the name of the PM outfit, anyway.

[Keys]

The real invoices are likely to
be in the name of the PM outfit, anyway.

Indeed they may. However, the invoice address would be the owners IP address surely? (and yes, I'm calling you Shirley)

[sheree99]

The Pm companies keep the copies of the invoices as they paid them on your behalf and so are required to for their audit trails. They are available to the owners if really needed.
With some companies the invoices will be addressed to the PM Company while other PM Companies have all invoices addressed to the owner name C/- the PM company.


wwww.aucklandproperty.met
nz.linkedin.com/pub/sharon-ruis/12/594/487/

[cube]

Copies of invoices is to make sure we have a long term record of who did what work (useful in the distant future), as well as ensuring that the invoice description matches the work requested.(Had problems in the past)

Visits are to provide an opportunity for essential (which would expect to be reported on) and non-essential (which may not) maintenance to be discussed and to ensure PM is doing the job they are being paid for. The task of picking up on and dealing with tenant related issues is def. the PM's.

[Perry]

However, the invoice address would be the owners IP address surely?

I'd expect the invoice address to be that of the PM
company. How else would it get to the PM coy via
the snail mail system? Especially if a window en-
velope was used. The job address or reference
would be the IP address.

(and yes, I'm calling you Shirley)

Sorry - you've lost me, there.

[sheree99]

How often do you thin k you need to do go on these inspections? Once a yr. Once every 2 yrs? If find on these inspections that either the long term or more urgent maintenance is not being reported to you then I suggest you need to change your PM.... or recheck the reports and photos sent to make sure you have read them. Do you actually get photos each inspections and how often are the inspections done. 3.4 or 6monthly?

Had a owner visit hips properties yesterday, He hadn't seen them for 2 yrs , as he lives out of NZ. but was very impressed with the condition of them and the only longterm maintenance that was needed, he confirmed, had been in the reports.

So owners get and even better idea of how their properties look we are also moving to videoing the inspections.

wwww.aucklandproperty.met
nz.linkedin.com/pub/sharon-ruis/12/594/487/

[Maccachic]

Are you aware of this: https://forms.justice.govt.nz/search...s/40792388.pdf

There is nothing in the Residential Tenancies Act that allows photographs to be taken. In fact the Act protects the privacy of the Tenant which would clearly be breached if Landlords had the ability to take photographs as they saw fit.

That is not to say that there should be a blanket ban on all photographs as either party should be able to record any alleged breach (rubbish left behind) or alleged damage or the like.

That is not a "blank cheque" and each case must be determined on their respective facts and

merits.

[Keys]

I'd expect the invoice address to be that of the PM
company. How else would it get to the PM coy via
the snail mail system? Especially if a window en-
velope was used. The job address or reference
would be the IP address.

True. (MAMC)

[Keys]

I've heard of the Brazier one which is why I stopped videoing properties. The Dunedin one is more specific and visible to all.

[DazRaz]

So is it normal for REAs listing rental properties to get permission from tenants? I imagine that this issues explains why there are so many ads for properties with no photos of the inside. Frustrating when you are looking for possible investments.