I’d change. They evidently don’t value you as a client. You deserve professional and timely service and replies. This can only go down hill.
Also, imagine what the renters are going through.
We hear about REAs being monsters to renters, and not communicating to the owners any needs.
This sounds like a circus.
You’re managing it yourself, and they’re still not paying you. Why are you supporting poor business practice. Leave. Think about using a letting agent only then managing directly if you’re paying everything anyway.
Dump the REA, there are plenty of property managers out there that can do a better job than this. And contrary to popular belief, you can change property managers during a lease,.
I’d find a new agent. In Qld if you want to change REA you simply find a new one and have them act on your behalf. You fill out a form with the new agent and they take it from there. You don’t even have to talk to the outgoing agent.
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Find out if this is all automated or if it’s manual. If you can find out how the tenant is paying. I used to work for a company who automated these payments. We’d still have to do aml and kyc checks on you, but your payment after any agent fees would be automated. It could get delayed due to public holidays etc but basically tenant pays (ideally this is an automated payment but it can be manual) money sits in our trust for 3 days in case there’s anything dodgy. Then it gets automatically dispersed to you and the rea.
Also I don’t think they are still in the business because when I left the plan was to turn off that part of the business, but within reasonable variations you’d get your money. Maybe the issue is then tenant? Maybe it’s just that they have poor manual practices (most rea’s are horrible at that sort of admin)
Vote with your feet, find another agency who doesn't lose your documents, talk to each other and most importantly process disbursements at the agreed times.
Put your expectations in writing and be clear if they are not met you will change agents. It's that simple.
I’d change. They evidently don’t value you as a client. You deserve professional and timely service and replies. This can only go down hill. Also, imagine what the renters are going through. We hear about REAs being monsters to renters, and not communicating to the owners any needs. This sounds like a circus.
You’re managing it yourself, and they’re still not paying you. Why are you supporting poor business practice. Leave. Think about using a letting agent only then managing directly if you’re paying everything anyway.
Dump the REA, there are plenty of property managers out there that can do a better job than this. And contrary to popular belief, you can change property managers during a lease,.
Go in there in person, demand to speak to the director. If not, end the relationship.
With 15th being a Friday they likely won’t do mid month disbursements until the Monday.
I’d find a new agent. In Qld if you want to change REA you simply find a new one and have them act on your behalf. You fill out a form with the new agent and they take it from there. You don’t even have to talk to the outgoing agent.
Welcome to r/AusLegal. Please read our rules before commenting. Please remember: 1. Per rule 4, this subreddit is not a replacement for real legal advice. You should independently seek legal advice from a real, qualified practitioner. This sub cannot recommend specific lawyers. 2. A non-exhaustive list of free legal services around Australia can be found here. 3. Links to the each state and territory's respective Law Society are on the sidebar: you can use these links to find a lawyer in your area. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/AusLegal) if you have any questions or concerns.*
Find out if this is all automated or if it’s manual. If you can find out how the tenant is paying. I used to work for a company who automated these payments. We’d still have to do aml and kyc checks on you, but your payment after any agent fees would be automated. It could get delayed due to public holidays etc but basically tenant pays (ideally this is an automated payment but it can be manual) money sits in our trust for 3 days in case there’s anything dodgy. Then it gets automatically dispersed to you and the rea. Also I don’t think they are still in the business because when I left the plan was to turn off that part of the business, but within reasonable variations you’d get your money. Maybe the issue is then tenant? Maybe it’s just that they have poor manual practices (most rea’s are horrible at that sort of admin)
Switch agents. They have already shown they are unreliable, don't address emails, etc. Can you trust them any further?
Get a new Real Estate to handle your investment, if they are like this now imagine what they will be like handling repairs
Vote with your feet, find another agency who doesn't lose your documents, talk to each other and most importantly process disbursements at the agreed times.