Every day we speak to landlords who feel their investment properties aren’t being handled property by their property managers. The only problem is, by the time they start speaking to another agent, there’s a high possibility their property has been damaged or rent is so far in arrears that they’ve lost a large amount of money.
The reason why landlords leave things so late is because of the misconception on when you’re able to change your agent. In most cases, the only exclusivity that an agent has on a property is during the time they are looking for a tenant. Once a tenant has been placed, you should be able to change to a different agent if you need too.
Keeping a negligent property manager looking after your property will lead to lost money and damages. If you feel that your property manager isn’t looking after your biggest asset, then don’t wait months until you do something about. Don’t give them the benefit of the doubt or second and third chances. Just move on and find someone who is going to service you and your property correctly. There is too much to risk leaving your property with somebody that doesn’t care.
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.