terminating Property Management

[Motek]

In April 26th, 2014 I signed up with a property management firm to look and manage my property:




Alternate Realty and Property Management Ltd.
#202-15241 Stony Plain Road NW
Edmonton, AB,T5P 3Y4



My starting concern became evident right after. Advertising was shown the back of the house and NOT front face. Wording was with grammatical errors. Also advertised 2 kitchen which only ought to have said 1 kitchen and ONLY show 1 kitchen picture. Immediately the company was notified. It took 2 days before changes happen on website.



We had to take care first of all utility transfers due to the management company had no clue. However, once they were told took care of it.



Company first tried to tell us the property due to demand easy can be rented for over 2000.00 main floor and 1100.00 basement. Personal I said this is not so and I would want to advertise for 1600.00 main floor and about 900.00 basement suite.

They rented the house out NOT according to our agreement 1 person downstairs and 2 adults main floor. They rented to 2 people downstairs and 2 people upstairs.



Yesterday I had to write them, Property Management, an e-mail regarding the care of lawn and movement on the property since one neighbor raised a concern about such. Today I received an e-mail of the company saying the contacted the tenants and promised to cut the lawns. IS it NOT the job of a property management company to look after the property and not for ME to tell them what is going on?



I send them a letter formally terminating their service to my property giving 60 days notice.



My question: Since they done truly hardly nada and I can proof from our site really looking after the property and the NOT following the agreement can I request the up-front lease fee deposit back. The agreement is $300 up-front lease when we signed and them keeping 10% of rental income. Can I?



Also anyone have a good reputable name available to look after the property. I am a senior and don't feel I ought to have worry's when I hire a company. They get paid for it. Please contact me should you know of some names in edmonton. I want to transfer for August 1st.



thank you.

 

[Thomas Beyer]

Can you cancel with 2 months notice, as most are a minimum one year ?

 

[Motek]

Thank you Thoma. I have given them 2 month notice and that's not the question. I ask; *can I request the tenant deposit fee of $300.00 each = $600.00 and the up front fee of $300.00. I have to pay otherwise again such fees to another property management and as senior it is ways out for me.



Also any knowledge of a good PMC in Edmonton?



Motek..

 

[margaretcowan]

You already have two tenants so why would you have to pay a new PM another rent-up fee of $300 X 2 suites? You may have 4 tenants instead of 3 as you wanted, but assuming they're good tenants, you have revenue coming in and the tenants stay. Or have I missed something in your story?



I've found that at the beginning of a new PM relationship, there are little issues to iron out or clarify like who cuts the lawns. The City of Edmonton mails notices to owners about lack of snow removal etc so you have to contact your PM when you get those.



Owning a property isn't a passive activity. You do have to manage the property manager. However, it looks like you've had more than normal "managing the property manager" work right now.



I don't know about getting out of your PM contract or what you could get back from the PM, but with your next PM, communicate more clearly what your expectations are and ask the PM what their expectations are of you.



Hope this helps,

Margaret

 

[Motek]

YES, Margaret I have now 4 tenants instead of 3. There is a reason WHY I don't want more for the basement suite but 1 renter, and no more but 2 adults upstairs. It was communicated in such way and if there are changes thus must be first mention to me and I am the decider. I know of the law regarding lack of lawn care and snow removal. This is not the point here. Point being the PMC did not take care from day 1. I can not more clear'r communicate but have every little thing I request and want in writing. Which was done when signing the property management agreement. But thank you trying to guide me to something.



Regards,

motek

 

[Neil1]

Unless you start thinking Win-Win, not just how you should be served, you may have the same issues with the next PM you hire. Do you enjoy micro managing? I understand your questions and concerns. May I suggest stop inspecting your property and start looking at your bottom lines:

Is rent being collected monthly? if yes, good.

Are quotes/expenses reasonable? if yes, good - relax and try not to worry about what exactly is done every day and how hard people are working for you.

 

[kfort]

Nobody will manage the property exactly like you would, or exactly like you want.



Become excited to recive 90% of what you normally would for roughly 20% of what you normally would deal with. Find someone that is willing to learn what you need, and provide it to the best of their ability. Create a checklist for various things if you need to, there are very few grey areas on checklists. Every time you drive by that property there will be a few things you want done differently, learn to manage the relationship. Don't fire people over 1 extra tenant. Explain to them that if you were unclear, in the future you will approve ALL tenants, regardless of numbers. If vito power is a deal breaker for you, make that known. If it isn't, Hogaarden is a fabulous summer beer to enjoy with your 90% of rental income.

 

[housingrental]

This is an enjoyable thread and recommended reading for all property investors prior to hiring a property management company.