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  1. #11

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    Quote Originally Posted by PC View Post
    Cross out those clauses in the contract. Or just say "No thanks".
    Are tenants or capable PMs that hard to find?
    Thank you PC, I should have read your comments before proceeding - it is a contract I do not intend on continuing with, but a contract I went ahead with to make things work.

    We are heading into week 4 of the tenancy now, I have seen one week of rent come through from the agent, it took almost a week of chasing with repeated follow-ups to get this first rent payment from them. They explained it was because they took payment for the tenancy on credit card, I have explained to them that the tenants delays are not my concern and they need to ensure payments are made early if necessary to avoid default.

    They have said rents only come through from the PM to the landlord twice monthly for ease of accounting, despite the lease agreement stipulating the tenant is to pay weekly into the PM account. So, it appears once Wednesday rolls around that they will have 3 weeks of my rent sitting comfortably in their accounts while I continue to fund the mortgages off the income of other properties.

    I am keeping a hands off approach to attempt to allow things to pass painlessly, perhaps my management style does not fit with an external PM relationship.

    After managing my own properties these past 6 years this is my first experience with a PM, and has definitely demonstrated that it is far far less stress most of the time to deal with things myself - things get rough and tumble if the tenant plays up or things break and need to be repaired, but at least I have a real-time open and honest view of what is going on without a middleman obstructing fast answers and keeping the business from its' money.

    Lesson learned - and yes, I know there are some fantastic PM's as I see on here with Keys and others, but it appears the PM I am working with is not an informed contributor to this forum.

  2. #12
    Join Date
    Sep 2004
    Location
    Hastings
    Posts
    15,496

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    Quote Originally Posted by absoluteproperty View Post
    I know there are some fantastic PM's as I see on here with Keys and others, but it appears the PM I am working with is not an informed contributor to this forum.
    Perhaps we should all be grateful for that?
    Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!


 

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