The biggest misconception in real estate is when you can leave your current rental agent for another company. Generally the only time there is an exclusive period on your property is for the few weeks while the agent is looking for a tenant. Once a tenant is in place, in most cases, you can change agents immediately.
Making sure your investment property is being managed properly is very important. If your rental is mishandled, the problems that can arise could cost you hundreds or even thousands of dollars. Regular routine inspections, the choice of tenant and making sure your property is kept compliant with the law, are just some of the basics a property manager should take care of. The only problem is, there are so many who just don’t do their job well, mainly because their workload far surpass their ability.
If you feel your property manager doesn’t have the time for you or is leaving your property in jeopardy, then act immediately. Start calling other agencies and speak to their property managers. Once you find a new agent that is has proven they will not just do a better job, but they will actually do the job, then give them the authorisation to take over management.
Once you have appointed your new agent, they will do the rest. They will inform the other agency that you have decided to change management and will organise for all the files, ledgers and keys to be sent over or picked up. It’s that easy.
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.