Shouldn't a Rental Agent Provide an Inspection Report When a Routine Inspection Is Done ?

getadealmate on 13/09/2022 - 08:27
Last edited 13/09/2022 - 08:27

Hi,

I have an investment property maintained by a rental agent but I haven't received any inspection report for the last 12 months so I'm wondering what normally happens between rental agent and the landlord when an inspection is done. Shouldn't they provide me with a report? What's your guys' experience like ?

Also, I have a couple of extra questions regarding the rental management.

  1. the agent charges half week rent for a lease renewal which only requires some papers signed by the existing tenant. Is this normal ? what's your opinion ?
  2. what's the management fee like ? is 7.7% of rent collection reasonable ?

I appreciate your time reading this post and thanks in advance!

Home & Garden

Comments

  • SF3 on 13/09/2022 - 08:38
    +7

    Shouldn't they provide me with a report?

    Yes, they should, if they do their job.

    • godofpizza on 13/09/2022 - 11:01

      you find that the covid excuse it used alot for why they didn't occur.

  • dogboy on 13/09/2022 - 08:44
    +2

    You should receive an inspection report from each regular inspection. Mine also provides pictures (~30) from each inspection.
    I am paying 7.15% fee plus another ~$3.50/month sundry fee.
    Charging the landlord for renewals sounds shady AF. Never heard of this practice before. I would change real estates asap.

    • getadealmate on 13/09/2022 - 09:23

      What about letting fee when a new contract with done up ? May I know how much you get charged for it ?

      • dogboy on 14/09/2022 - 13:17

        I don't believe I have ever paid a letting fee for new tenants.

        • getadealmate on 14/09/2022 - 21:18

          Wow. Your agent doesn't charge anything when they spend time to organise multiple inspections? I think you are lucky then.

  • MrThing on 13/09/2022 - 08:57
    +1

    I get charged for a lease renewal, but its only $200

    I get half yearly inspection reports with tonnes of photos as well

    I pay 6% as my agent fees - no other fees due (eg: final financial report, half yearly inspections, "random" fees, monthly statement fees, etc)

    I do get charged a tenant statement fee (usually a couple bucks, but im sure its a % of the bill) when water usage charges are paid back to my as a credit the month after the water bill is paid.

    • getadealmate on 13/09/2022 - 09:22

      What about letting fee when a new contract with done up ? May I know how much you get charged for it ?

      • MrThing on 13/09/2022 - 09:58
        +1

        when a brand new lease is setup. 1 weeks rent is the fee plus advertising costs

  • [Deactivated] on 13/09/2022 - 09:01

    sounds like you got a crappy agent

  • JimmyF on 13/09/2022 - 09:13
    -1

    Shouldn't they provide me with a report?

    What did they say when you asked them?

    • getadealmate on 13/09/2022 - 09:14

      I haven't asked them yet. It looks like I should.

      • JimmyF on 13/09/2022 - 09:17
        +4

        Seems like a simple request, hey agent haven't seen any inspection reports for a while, can you send the latest one over. Thanks

  • Duckie2hh on 13/09/2022 - 09:14
    +1

    I can help. Your property manager should be providing you with an inspection report. This is standard across the market. Re-lease/renewal fee is different across different agents. Mine do not charge a lease renewal fee.

    Management fee differs across states. You can go as low as 5% in Victoria and as high as 9% in Queensland. Shop around and balance the cost vs service quality.

  • boomramada on 13/09/2022 - 09:44
    +1

    Report usually comes instantly either by email or access via a panel.
    Rates are different from place to place, lower percentage doesn't mean always the cheapest. Sometimes they collect more off their other services such as advertising etc.

    Haven't you read the contract before sign with the agent? usually they do one or two inspection per year? Why not contact them? if you haven't heard from them in ages.

    When it comes to agents, actual property manager that looking after your property and their communication more important than anything.

    • getadealmate on 13/09/2022 - 10:28

      Yea, the agent did tell me before that the inspection was to be done every 6 months because the tenants are good and have been living in the property for a while. The problem is just the reports not being provided.

      Anyway, it seems like I should just switch to another one.

      • boomramada on 13/09/2022 - 11:45

        I would contact the management first and ask for action. Property managers are always change, its not guaranteed you get the best out of the team even you switch to another.

  • johndowy on 13/09/2022 - 10:38
    +1

    Management fees can depend on where you live.

    Check out the tweet below I found regarding the different rates.

    https://twitter.com/oreamcomau/status/1559535159732760577

  • tsunamisurfer on 13/09/2022 - 11:03
    +1

    Yeah I just got my first inspection report with lots of photos but I am paying 11% in Perth.

    Seeing others paying 6% makes me want to renegotiate at contract's end.

    • getadealmate on 13/09/2022 - 11:29

      Oh wow. That's pretty high..!

  • USER DC on 13/09/2022 - 12:08
    +1

    you need to force the rental agents to do their job, otherwise they slack off

  • ForkSnorter on 13/09/2022 - 12:09

    7.7% of $26k is $2000. Not bad for filling out a few forms and doing 2 inspections.
    At 2.5% commission, a real estate agent is also making $25k from the sale of a single median-priced property. For taking a few photos, writing a page of text, showing up at inspections, making some phone calls, and filling out some forms.

  • trapper on 13/09/2022 - 14:21

    7.7% is pretty good and probably why they charge you for 'extras' like lease renewable.

    If an inspection is done then yes you should get a report.

    They may also charge you extra to do each inspection depending on what you agreed to when you signed them up.

  • ol mate on 15/09/2022 - 22:22

    YMMV but my PM provides a report each inspection and does an inspection every 3-4 months.

    No renewal fee (charges 1 week rent + GST for new tenants), and charges 7.3% (inc. GST)

Login or Join to leave a comment
Login Join