Changing property managers does not need to be painful. While it may be a lot easier to just throw it all in the ‘too-hard’ basket, making the switch really can give you peace of mind and save you a lot of money.

Changing Managing Agents - Quick Facts:

- 30 Days written notice needs to be given to current agent

- No fees apply to change managing agent

- Current tenants lease is not affected by the change of agent

By following this straightforward guide below, you will be able to return to enjoying the rewards of a stress-free investment in no time.

1. Current Form 6

Have a copy of your Appointment of Agency form on hand so you know when you can terminate with your current agency. If your management is currently signed on a Form 6 – then you will be required to give 30 days’ notice unless the agency and you agree on a shorter timeframe (this can be immediately if both parties agree). However, if your agreement was under the older PAMD Form 20a then you may need to wait 90 days to change.You can terminate within 30 days notice if both parties agree to the termination if signed on a Form 20a, however no earlier.

2. Select Your New Agency

Selecting a new agent can be hard, the best place to start is by checking out local agents Google Reviews as well as seeking recommendations from friends or family. Its best to get 2-3 rental proposals from different agents for you to then compare the service and fees they are offering.


 

3. Once An Agent Is Appointed

Once you have decided on an agent to manage your investment property it will be required that you:

signed & return all relevant paperwork to the new agent.

your new agent will send termination notice on your behalf to the current managing agent.

your new agent will ensure receipt of termination is confirmed by the current managing agent and confirm take over date.  

4. Take Over Day!

Yay! Your property will be taken over on the set date, tenants will be contacted to advise of the change and will pay rent directly to the new agency!

 

5. Under Management

Your new property manager will arrange an inspection of the property and prepare a report for you. At this stage, it is great to ensure that your manager looks to check for any issues that could cause a future risk.
 

Now that you have made the switch, you can put your feet up and relax. You have done the hard yards, now you can finally have comfort in the knowing that your investment is in safe hands. There is now a great agency working to ensure your investment is well cared for.