Make sure you receive all the documents and information about your current real estate administrator`s lease. This may include the rental agreement, rental income, repair and maintenance documents, etc. Plan to enter into or transfer a contract with a new supplier and things you need to consider if you terminate a contract prematurely, either because of litigation or breach, or by prior notification or mutual agreement. You must inform the tenants as soon as possible of a change in property management. This should be done by a written notification informing the tenant of the new manager`s contact information (or your data, if they are self-administered), changes in the details of the tenancy and the exact date on which management`s liability changes. If there is a better alternative to your current management situation, it may be worth a try. Perhaps you have found a better or cheaper property manager? Or maybe you`ve realized that managing your own property isn`t as difficult and tedious as it sounds, especially if you`re using a useful and efficient service like myRent.co.nz. Learn more about financial management, registrations and contract variants Although it may seem complex, it is relatively easy to understand your lease obligations if you are willing to spend some time familiarizing yourself with them. The Tenancy Services website is very useful for providing a simple english statement of the law.
This means that self-management of your lease is not impossible and you certainly don`t need a law degree or asset management qualification to easily meet legal requirements. Most traditional property management contracts take 7-9% of the rental in residential real estate costs. Consider whether the volume and quality of services provided are really worth that amount. Does the property manager offer a quality professional service that offers them a constant stream of income with little effort? Or do they accept their costs as a matter of course and do they hardly reduce the workload you would have if you managed yourself? So you decided maybe it was time to give the cop to your real estate manager? Before terminating the management contract, you need to consider a few important issues. Before you commit to terminating your existing property manager, make sure you have another property management contract.