Monday, January 10, 2011

Good Reasons for Your Property Manager to Fire You.

When you place your property with a property manager, you are engaging a professional to give you good advice. You pay them for that advice, so you'd better pay attention! There are some things people do which make it tricky for property managers to do their jobs, and put them and you at risk of legal action. Here are a few good reasons for your property manager to refuse to work with you again.

1. Refusing to do essential repairs or maintenance. Under the Residential Tenancies Act, this could lead to a fine of up to $3000 being awarded to the tenants, on top of your repair bill. If you think repairs are expensive, you'll be very concerned about fines on top of these costs. If you think a proposed repair is not essential, then discuss that with the property manager. Be sure you have defensible grounds should it go to Tribunal.

2.Putting the property on the market without letting them know. Tenants must be notified if a property is on the market for sale - it is the law. Contact by the real estate salesperson should not be the first inkling tenants get! Always tell your property manager if you are going to list your property as they will have strategies for keeping the tenants happy, the property in good order for the showings, the rent coming in during the sales process and you out of hot water with the Tenancy Tribunal. It may also affect lease renewals, so don't try to sneak around.

3. Talking with tenants without letting the Property Manager know. No, we are not paranoid, we have seen a lot of trouble come from conversations between landlords who do not know any better and tenants who do. Like rent holidays over Christmas, agreement for improvements, agreement to end leases early. All of which cost the owner dearly. Don't be a chump - if ever you are talking with your tenant (whether it is at the supermarket or the property) and you have a property manager, simply say 'please discuss this with the property manager, that's what I pay them for'. Because you do.

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