Often, landlords find themselves in a bit of a pickle when it comes to their rental property and changing the management company. The misconception is that you must wait until your tenancy agreement has ceased and then you are able to change agents. The truth is that once you have placed your tenant, in most cases, you are able to change from your current property manager.
The best part is that it’s quite easy to make the change and you don’t have to do anything. Once you make your decision to change agents and new sign the managing authority, the new property manager, will organise the change over for you. This means they will give a written notice to the current agent to let them know that you have chosen to move on from them. In return, the current agent will provide your complete file, this includes ledgers, conditions reports, keys and anything else that relates to your property.
Generally, when you change estate agents, there is no cost. Another thing to hunt around for are agents that are offering different deals on management fees, you may be able to snag a few months free for changing, it’s worth taking advantage of these opportunities. But all that aside, don’t base your decision on securing the cheapest agent. Make sure you have done all your research into your agent and you choose them based on their ability to take care of your investment property and you.
When it comes to your investment properties, it’s not worth letting anything go. If experience has taught me anything, turning a blind eye or leaving things to late, will only lead to a bigger problem in the end and when that comes to property, it’s usually expensive. If you don’t feel that you are getting looked after with your current management, then act swiftly and start interviewing for the right agent that will look after you and your future.
The following advice is of a general nature and intended as an opinion and broad guide. For all legal, financial or real estate advice you should obtain independent professional advice to do with the specific nature of your circumstances before making any legal, financial or real estate decisions.