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  • Keeping a Landlord Informed

    A question for Property managers:

    I have one rental under full management by a PM.
    Last month I received my monthly payment statement, and found that the tenant had only paid two weeks rent during that month.
    I emailed the PM firm and queried this. After quite a delay they came back and said that the tenant (whom they sourced) had fallen behind, but they now had a TT order for the arrears.
    Today I received the February statement and yep, only one weeks rent shown there. I immediately called around to the property and found it vacant.

    Now as a PM would you have communicated these developments to me as the owner earlier rather than just saying nothing and letting me find out the situation through the monthly rental statements?

  • #2
    Absolutely as soon as the rent payment didn't come through I would have gone to the property to see the tenant if I found the property vacant on that visit would be straight on the ph to the owner. After all it's your property and you need to know what is happening with it.
    Kaye
    www.streetsaheadpm.co.nz

    Comment


    • #3
      Originally posted by flyernzl View Post
      Now as a PM would you have communicated these developments to me as the owner earlier rather than just saying nothing and letting me find out the situation through the monthly rental statements?
      If you were managing the property, what would you have done, in the circumstances you described?

      Eventually, will we learn the name of the dilatory PM outfit you refer to?

      Or are you playing devil's advocate, Peter?

      Comment


      • #4
        Nope, it is a genuine enquiry.
        I have just phoned them this morning, and they cannot seem to see a problem with their non-communication.

        Certainly I would have kept the owner notified with developments throughout the process.
        I'm just wondering if I am over-reacting or have a genuine beef.

        Comment


        • #5
          Originally posted by Perry View Post
          If you were managing the property, what would you have done, in the circumstances you described?
          Originally posted by flyernzl View Post
          Certainly I would have kept the owner notified with developments throughout the process.
          What I was meaning, with my earlier question is: how does the PM Coy's 'style' compare with how you would have dealt with the same scenario, in one of the properties that you self-manage? As in, what actions would you have taken, in relation to the tenant and the property, and when?

          Kaye has described how she would have handled the matter. How would you? And is what you would have done a reasonable expectation to put upon a PM Coy?

          Originally posted by flyernzl View Post
          I'm just wondering if I am over-reacting or have a genuine beef.
          May answer is no.

          But what does the PM authority say?

          Comment


          • #6
            I make my expectations clear to my property managers about communication. Not to say the expectations are always met, but they're clear.

            If you haven't made your communication preferences clear, they may be acting totally acceptably. Some landlords don't want to be bothered with silly things like a week or two rent missing here and there. Others want to know the day their tenant is late. How are they to know which type you are?

            It's a question of management style.
            AAT Accounting Services - Property Specialist - [email protected]
            Fixed price fees and quick knowledgeable service for property investors & traders!

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            • #7
              Originally posted by Anthonyacat View Post
              I make my expectations clear to my property managers about communication. Not to say the expectations are always met, but they're clear.

              If you haven't made your communication preferences clear, they may be acting totally acceptably. Some landlords don't want to be bothered with silly things like a week or two rent missing here and there. Others want to know the day their tenant is late. How are they to know which type you are?

              It's a question of management style.
              If I were a PM, I would presume that a LL would want to know about something as serious as this, unless told "Don't bother me with this, just deal with it."
              My blog. From personal experience.
              http://statehousinginnz.wordpress.com/

              Comment


              • #8
                I'd expect not to hear about 2 weeks rent overdue, but if it got to be more than that and a TT order lodged, then I'd definitely expect to hear about that.

                Where is the property Peter, I can put you onto someone good if you want?
                Last edited by Perry; 03-03-2017, 01:37 PM. Reason: fixed typo
                Squadly dinky do!

                Comment


                • #9
                  Originally posted by Anthonyacat View Post
                  I make my expectations clear to my property managers about communication. Not to say the expectations are always met, but they're clear.

                  If you haven't made your communication preferences clear, they may be acting totally acceptably. Some landlords don't want to be bothered with silly things like a week or two rent missing here and there. Others want to know the day their tenant is late. How are they to know which type you are?

                  It's a question of management style.
                  I think the reasonable action here is to inform the owner if the owner has not clearly stated that he or she doesn't want to know.

                  Surely as a professional yourself, you wouldn't think losing your client perhaps close to 3/4 of the income in a month is a silly thing to inform them about? Please say no.
                  Last edited by Connor; 03-03-2017, 08:30 PM.

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                  • #10
                    Originally posted by Perry View Post

                    Eventually, will we learn the name of the dilatory PM outfit you refer to?
                    Charta Property management.

                    I have made my displeasure known.

                    Comment


                    • #11
                      For the record - I have no skin in this game.

                      However, looking at the first page of their TT tribunal rulings they seem pretty onto it.

                      Quite a few cases, I'm guessing because of their size, but my impression is:

                      • Good records / photos of property condition when it was rented when disputes have arisen
                      • Virtually all TT decisions have been adjudicated close to the period covered by the bond. Given the time the TT takes to schedule hearings this indicates to me that they are onto things pretty quickly.
                      • Excellent argument regarding a meth contamination case. No indicative test at start of tenancy, but brand new carpet installed at the same time. Since this contained meth residue at the end of the tenancy it proved it had been used during the tenancy.
                      • They did have one issue with emails being used instead of a nominated address for service. Had the nous to try the 'they responded when we dealt with them this way before' argument, which has previously been used against some landlords, but in this case the TT didn't accept that argument.


                      Just my two cents worth.

                      Comment


                      • #12
                        Originally posted by BigWal View Post
                        They did have one issue with emails being used instead of a nominated address for service. Had the nous to try the 'they responded when we dealt with them this way before' argument, which has previously been used against some landlords, but in this case the TT didn't accept that argument.
                        Look at Keys' Shafted by the Electronic Transaction Act thread.

                        Comment


                        • #13
                          Originally posted by Perry View Post
                          Thanks. I meant that one, but just couldn't find it again.

                          Comment


                          • #14
                            Its not what they have done, its how they have (not) kept me informed about what is going on.

                            Comment


                            • #15
                              This happened to me, with former property managers I used. Tenant had a relationship breakup, so stopped paying rent and told the PM that they wouldn't pay rent. As far as I can tell, the discussions around it were pretty civil - if you ain't got the money to pay the rent, there's not a lot you can do about it.

                              TT application was made, tenant was evicted, I got the entire bond, there was about 1 week of rent not covered by the bond, and they left a whole bunch of crap in the garage that had to be disposed of. Not a lot I could do about the situation. I didn't find out anything about it until I got a monthly rental statement with less money in it than normal, which is when I asked them what was going on. They then didn't communicate with me again except to tell me they'd filed a TT order to evict them etc.

                              Had the PM told me that the tenant had stopped paying rent, there's not really anything I would have done in relation to the tenancy. However if I'm no longer getting rent, to cover the mortgage, then having notice from the PM ASAP that there is an issue, means I can plan for the shortfall in rent. Like, if I was just about to go out and buy a new car, I could delay that for 1-2 months to ensure I had enough cashflow to cover the mortgage without any issues until new tenants were found.

                              So I would expect notice from the PM that rent was behind, no later than 7 days - hopefully at that time they have discussed the matter with the tenant and can provide extra info, such as "the tenant had an unexpected car payment and plans to make up the rent over the next xx weeks" or whatever.

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