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  • No more property manager

    Firstly thank you in advance for your comments and help.

    We have fired our PM and now wish to take over the management ourselves, Have been trying to find out information about what we need to do to take over the management.

    I can find info about starting and tenancy agreements etc but I can't find how we take over the management from someone else.

    Can anybody tell us or maybe provide a link to information about what procedures we need to follow to take over the management as it is already tenanted.

    Really appreciate any help.

    cheers

  • #2
    Read the RTA, read the RTA again, read the RTA a third time. Then read it ever day for a few weeks until you understand it inside out. There is a form for moving a bond from one PM to another.

    Comment


    • #3
      If you have the time to manage your business better than your PM did, why would you pay somebody?
      Well, it is a learning process and costs you, too.

      But – man doesn’t need to study the relationship act for having a great and successful marriage, right?

      Comment


      • #4
        The Op wants to know how to go about taking OVER the management not how to manage.
        What process to take over the bond, the TA etc.
        How do they tell the tenant - is there a special process?

        Comment


        • #5
          Originally posted by Wayne View Post
          The Op wants to know how to go about taking OVER the management not how to manage.
          What process to take over the bond, the TA etc.
          How do they tell the tenant - is there a special process?
          Thank you Wayne My writing skills are not always clear. That is exactly what I am trying to find out.

          Thanks Klauster I had too many complaints from the neighbors and the PM were not doing their job and lying straight to my face. I am lucky that we have a very good tenant and we are confident we can handle the management.



          Thanks Heaps
          Last edited by PPV2033; 29-04-2017, 12:53 PM.

          Comment


          • #6
            I foresee trouble.

            1) Formalize the termination of the PM company and do so in writing. Keep a copy.
            2) Get a change of landlord form filled out by the PM company and yourself, send that to MBIE
            3) Insist that ALL documentation that went with the tenancy is given to you.
            IE
            a) Application documents
            b) Credit checking reports
            c) Identification received
            d) Hand written copies of references which have been checked
            e) Any and all correspondence between the PM and tenant - both inwards and outwards
            f) Rental summary
            g) ALL inspection reports
            h) any notes on telephone conversations
            i) any court rulings (including Mediation) which have happened during the tenancy
            j) things which I can't remember just now.
            4) Formally advise the tenant of your intention to manage the property yourself.
            5) Advise the tenant of all of your contact details including a physical address for service
            6) Advise the tenant of the new bank account for which the rent is to be deposited.
            7) Things which I can't remember just now.

            NOW, and you should have done this before you sacked the PM.

            LEARN YOUR BUSINESS.

            Read this every day.

            Sections to know off by heart are:

            2
            13 (until it gets to 14)
            24
            40
            45
            48
            51
            55
            56
            109 (and follow that one everywhere)
            136 (hugely important)

            Good luck. Work hard. Get hard. Don't believe any tenant when they give you excuses, start the paperwork.
            www.3888444.co.nz
            Facebook Page

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            • #7
              Keys that is much appreciated thank you very much, the PM did not give me any other option but to fire them.
              So looked like I have some work to do.

              Thanks again

              Comment


              • #8
                Wow best response to a question in PT history Keys :-)

                Comment


                • #9
                  Small point maybe to be aware of. You mention "too many complaints from neighbours" and "we have a very good tenant" all in one paragraph.

                  I hope these 2 points are about different people ? Where there is smoke there is quite often fire; but I accept not always.

                  Comment


                  • #10
                    Originally posted by Nice View Post
                    Small point maybe to be aware of. You mention "too many complaints from neighbours" and "we have a very good tenant" all in one paragraph.

                    Hi Nice,

                    The complaints were not geared towards the tenant but towards the state of the property due to PM not maintaining lawns etc

                    Cheers
                    Last edited by donna; 01-05-2017, 03:17 PM.

                    Comment


                    • #11
                      Hey PPV2033

                      Basically once you uplifted the files then reach out to the tenants to introduce yourself to the tenants and provide contact details and a bank account number for them to pay the rent in to.

                      Send the change of landlord form off to the MBIE so it changes the name at the bond centre to you as the landlord.

                      Might pay to cross check that the details of the tenancy agreement, entry condition and chattels report are accurate etc

                      You won't need to draft a new tenancy agreement as their one stands but if you do then there is no problem providing the tenants agree.

                      That should be about everything, a fairly simple and smooth process
                      Fraser Wilkinson
                      www.managemyrental.co.nz
                      Wellington / Lower Hutt / Upper Hutt / Porirua

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