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  1. #1
    Join Date
    Apr 2008
    Location
    Auckland
    Posts
    60

    Default Advertising rights

    Hello All,

    Me and my wife has just recently bought an investment property. Settlement date is not for another month. We have arranged for a property manager to start advertising for prospective tenants, with the intention of getting someone in as soon as we get possession next month. We got a call this morning from the property manager saying that the vendors and their real estate agent has disallowed advertising of the property for rental.

    Can they do that?

    I understand privacy issues and we will not be disclosing pictures nor showing prospective tenants through unless permisssion is obtained (well, we can't anyway, the house is still technically theirs). But do the vendors have rights to disallow us listing the property for rental? Esp. if we stress in the ad that it is only available after settlement date?

    Have anyone of you been through this? Would appreciate your comments.
    Last edited by newkidontheblock; 23-04-2008 at 10:20 AM.

  2. #2
    Join Date
    Feb 2005
    Posts
    261

    Default Advertise away

    Quote Originally Posted by newkidontheblock View Post
    Have anyone of you been through this? Would appreciate your comments.
    Tell them to pull their head in, utter rubbish. Does the PM work same outfit as the real estate agent ? I would hire a new PM. (property manager)

    You can certainly advertise the house for rent. You may not get prospective tenants through the place because of the vendors attitude. Next time see if you can get an early access clause that allows you to take prospective tenants through the place. (clause at bottom)

    We find it hard to rent a place without showing people inside though. No harm done advertising.

    From experience, understand you have obligations when you sign up the tenancy. We do it, and have only been caught once where we had to settle late because of a missing insurance certificate (our mistake), and our new tenant on the street as he was vacating his old rental (it had been sold under him) the day we were settling. Our vendor would not allow us access (understandably) to put our new tenants in. We put them up in a motel for 2 days. We can laugh about it now. They were very grateful and are still our tenants today.

    Fritz.


    Early Access.
    14.0 This agreement is conditional upon access being given to the purchaser between the date of signing this agreement and the settlement date for the purposes of showing prospective tenants through the property. This clause is inserted for the sole benefit of the Purchasers.
    Last edited by Fritz; 23-04-2008 at 11:04 AM.
    Argue for your limitations and sure enough they're yours. - Richard Bach

  3. #3
    Join Date
    Feb 2007
    Location
    Auckland
    Posts
    184

    Default I wonder if

    The Property Manager is advertising the property with the address or giving out the address to people contacting the pm about the property. and the current owners are getting people walking onto the property, looking in windows, knocking on the door and asking to look around etc. Certainly would peeve me of if I was the owner and I would be asking my RE Sp to get it stopped.
    The curent owner can't stop you advertising but also if the PM is giving out the address at all it is impossible for anyone to guarantee that the person enquiring won't go onto the property.. no matter how much you tell them not to.
    Maybe the PM could just advertise it as coming soom x bdrm house etc in X street . Viewings from X date please contact Pm to register your interest.
    Hope this helps

  4. #4
    Join Date
    Apr 2008
    Location
    Auckland
    Posts
    60

    Default Address disclosure

    Thanks for the advise and comments. Really appreciate it. I guess we were just a bit inexperienced - should have thought about early access and having it as a condition.

    Does anyone know if there are any legal boundaries in disclosing the property address in the ad?

    Thanks

  5. #5
    Join Date
    Feb 2005
    Posts
    261

    Default legal ?

    Quote Originally Posted by newkidontheblock View Post
    Does anyone know if there are any legal boundaries in disclosing the property address in the ad?
    Thanks
    Not to my knowledge.

    Your PM should advertise it as Sheree suggest not to step onto the property available from date dd/mm/yy, better still open home settlement date at 1pm for all interested prospective tenants. Just make sure it is presentable.

    You always learn something new. All the best with it. Let us know how you got on.

    Fritz.
    Argue for your limitations and sure enough they're yours. - Richard Bach

  6. #6
    Join Date
    Jun 2005
    Location
    Nelson NZ
    Posts
    3,863

    Default

    I had a new management like that last month.
    I went through on the last open home took photos everywhere and used them to market the rental on the net.
    I was unable to gain access untill settlement.
    I had two good offers to rent it sight unseen.
    The tenant started moving his stuff in within hours of settlement.
    The difference is not the vendor, but the PM.
    Find a PM with a bit of go in him.
    If they can not cope at the beginning the tenants will push him around later.

  7. #7

    Default

    Another option is to visit the seller, armed with a small gift, and offer your apologies. If you are able to establish some rapport, then ask their permission to have an 'open home' for prospective tenants that the pm has vetted, for two hours on a Sunday.

    They may not go for this if they are still emotionally attached to the property and don't like the idea of it being used as a rental, or if the day you suggest is less than a week before they are due to move out.

    I never advertise the address of a property and only give an address after obtaining the person's name and phone number (preferably a work or business number) and then phone them back on the number they gave.
    'Never let the wild bastards grind you down'. Winston Churchill.

  8. #8
    Join Date
    Sep 2004
    Location
    Hastings
    Posts
    14,850

    Lightbulb

    Quote Originally Posted by newkidontheblock View Post
    We got a call this morning from the property manager saying that the vendors and their real estate agent has disallowed advertising of the property for rental.
    A tricky situation. Depending on circumstances, suitable
    responses may be (to the vendor & REA):

    1) What clause[s] in the S&P agreement do you
    reply on for your authority to make such a demand?

    2) What statute[s] do you reply on for your authority
    to make such a demand?

    In the event of no valid response to either, your follow-up
    could go: "sorry, but . . . . "

    I tend to agree that a competent PM would've asked
    much the same questions when confronted with such
    demands . . . .

    If incompetence is revealed early on, you may have gained
    the silver-lining opportunity of casting about for a good PM.
    A real one.

  9. #9
    Join Date
    Apr 2008
    Posts
    2,086

    Default

    The is absolutely no legal impediment to advertising the property for rent from or after the anticipated settlement date, even though you do not actually own it yet. Obviously, you cannot enter the property without the vendor's consent, but that does not prevent you from advertising it.

    From a practical perspective, however, I wouldn't do it, if at all possible. You want to get to know the property thoroughly. At the very least, you should spend a couple of nights in it.

  10. #10
    Join Date
    Jun 2005
    Location
    Nelson NZ
    Posts
    3,863

    Default

    Quote Originally Posted by Green Fish View Post
    You want to get to know the property thoroughly. At the very least, you should spend a couple of nights in it.
    Oh no. I have heard about people sleeping in the properties occassionally.
    If I did at every property that I would never spend a night at home.
    There is no way I would live in a fair number of the properties I manage.
    Yuk they are horrible. However what I hate others like, or at least have no other option. Eveyone is different.
    I have heard a number of people claim they would not let a property to someone if they were not happy to live there themselves.
    That is social discrimination of the worst kind. Why not show some respect and understand that everyone is different and what I hate they might like.
    Why should I impose my likes onto others.


 

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