Changing property managers is less painful than you think.
In most cases, the transfer can occur within 30 days and have very little impact on your tenants.
In this blog, we breakdown the 5 most commonly asked questions when changing agents.
What impact does changing agents have on my tenants?
In short, very little. The tenancy agreement that is in place is between the tenant and the property, regardless of who owns the house and who manages the tenancy.
The tenants would only need to change the account where they pay rent to. There is nothing else they need to do.
In our experience, if owners are unhappy with their current rental agent, often the tenants are too. We will always contact the tenants personally to introduce ourselves and ask to meet them at the property for a quick chat about the tenancy and any concerns that they have.
How do I change agents?
Changing agents is quite a simple process.
Step 1: Meet with your chosen agent to discuss your options and terms for the new management and sign the required documents to engage them – currently a Form 6.
Step 2: Advise your current managing agents in writing of your intention to terminate the management agreement. This can be in email form.
You must give them 30 days notice, however many agents will agree to hand over the files to your new agent at the end of the month to make it easier for financial accounting.
If you feel that your current agents have breached their agreement to provide services such as regular inspections, or exit inspections, or have not acted in your best interest then you may wish to speak with the Principal directly to terminate the management quickly.
How long does the process take?
Generally, 30 days unless the current managing agents agree to release the files earlier (such as at the end of the month).
The Principal is the only person with the authority to release files earlier.
When can I change agents?
At any time.
It is a common misconception that if a lease is in place, you can not change agents. This is untrue. Your management agreement with your rental agency can be terminated by either party at any time as long as the other party is given 30 days notice.
Whether the property is vacant or tenanted you can change agents at any tim
Why should I change agents?
The reason why is different for each person. Perhaps you are not receiving regular communication from your property manager? Inspections are not up to date or maintenance is lagging? Or simply that you no longer trust or have faith that your agent is working for you.
Compile a list of what your issues are and ask these questions to your new chosen agents.
This may avoid another change in a few months’ time.
At Blackbird and Finch, we understand the process of changing agents can be difficult and we aim to make the process a smooth one for both yourself and your tenants.
Contact us today to discuss your options.