Many landlords believe they have to pay significant penalties to switch property management companies or it’s a difficult process...however it’s not.
Notice periods to end a management agreement can vary so please check your current agency agreement. However if your current managing agent has failed to provide the services they promised, this notice period should be waived.
Speak to your 'new' property management company for assistance with the transfer process. Usually, your 'new' agent will simply require your signature on a letter they have prepared advising their current agents that they wish to cancel the current agreement. Your 'new' managing agent then simply diarises & arranges to collect relevant files etc from that company, in the appropriate time frame.
“Landlords believe changing property manager will cost them a lot, but it will cost them a lot more to leave their property with someone who isn’t looking after it,” Lisa says.
If you would like to discuss the possibility of bringing your investment properties on board with First National Coffs Coast, we would love to hear from you. We can make it a very stress free, easy process.