Transferring Agents: What You Need to Know

Are you stuck with a property manager that isn’t meeting your expectations? Is this causing stress to your finances, within your home life and relationships, and hampering your long-term investment goals?

Don’t worry—you no longer need to feel stuck or frustrated. Did you know you can easily switch to a new property manager once the agreement with your current property management company has expired? Your existing authority, or contract, will outline any notice period you will need to give.

They’re also obligated by law to let you move. According to the Consumer Affairs Victoria website,

“In most cases, you can immediately end your agent’s management of your rental property by notifying them in writing. Check the conditions of your authority (contract) first.

You should arrange to collect keys and relevant documents from the agent or for your new agent to do so on your behalf.

Whether you choose a new agent or manage the property yourself, your tenant will need to be formally advised of the new arrangements.

Your agent may also terminate management of your property by giving written notice to you.”

Why transferring agents and providing great customer service go hand in hand

Dynamic Residential understands the importance of providing superior service and delivering results to keep our landlords happy. Why? Because we know it’s easy for property owners to switch agents for any indiscretion, and we’ve seen potentially great partnerships end due to a poor customer interaction. That’s why we work hard to outperform our competitors with the latest industry innovations and automations to make life easier for our clients. And our superior personable, proactive service approach.

And that’s also why we can help you change property managers with minimal inconvenience and no hidden costs to either you, the rental provider or the renters themselves.

Fortunately, transferring agents doesn’t have to be complicated or costly. It is also possible to do it if your renters are mid-lease. Dynamic Residential does not charge or surprise you with out-of-pocket fees for switching over. Plus, your existing rental agreement with the tenant remains firmly and legally in place. Additionally, the tenant will not need to sign a new agreement—another way we guarantee the transfer is seamless and minimally disruptive.

But first, let’s look at how you can do it with the help of Melbourne’s most trusted property managers.

How can I evaluate my current property management company?

It’s important to ask yourself these questions before you decide on changing property managers:

  1. Does your property management agency promptly respond to communications, or do you have to follow up on emails and calls?
  2. Is rent consistently transferred into your account each month, or is it transferred at different times?
  3. Did they take a reasonable amount of time to fill your property after your tenants moved out?
  4. Do they thoroughly screen tenants for their credit and renting history?
  5. Are you being charged fees you were not initially aware of?
  6. Are repairs attended to promptly by quality, registered tradespeople?

If you answer “no” for one or more, it’s probably a good idea to switch to an established, experienced agency that prioritises the client experience and regulatory compliance.

As an additional point, we recommend looking at their currently advertised properties to get an idea of how well they advertise to maximise the leasing result when comparing agents.

How Dynamic Residential makes changing property managers easy for you

Once you’ve connected with us, you’ll meet with a Business Development Manager to discuss your requirements, understand your issues and learn more about our service offerings and what we can do for you and your property.

If you decide to switch to Dynamic Residential, you’ll need to sign an electronic Management Authority form. Once you do, we’ll take it from there by:

  • Assigning you to a dedicated property manager, who will be your point of contact and work closely with you every step of the way.
  • Contacting your current property manager and letting them know you’re transferring the management to us, and then,
    • Requesting they send the complete tenancy and property file directly to us.
    • Advising your current tenant of the change, including our new contact details and giving them access to our exclusive Renter Portal.
    • Handling the paperwork with your original property manager—you don’t need to speak to them if you don’t want to. The termination can be effective immediately if the notification is in writing.
    • Informing the RTBA that the property manager has changed, so we can process the refund application when a renter moves out.
    • Collecting the current condition report for the current renters in the property, so we can use this to compare going forward.
    • For tenanted properties, we’ll ask the tenant to let us undertake a quick inspection to get familiar with the property. It’s worth noting that the tenant can refuse this inspection if a routine inspection was completed within a six-month period.
    • Collecting any keys held by your outgoing agent.
    • If the original agent provides unwatermarked professional photos, we can use them. Otherwise, we’ll arrange for a professional photography partner to style and take pictures of your property to be used in future listings.
    • We’ll then ask you for more information about the property, your contact preferences, and payment details.

There are many components to the agent transfer process, but the team at Dynamic are dedicated to helping all clients with an authentic, efficient and hassle-free experience. We understand that your main priority as a property owner is to retain the value of your property and see a regular income stream without interruption to your daily life. The last thing you want is to manage all these tasks, rely on multiple parties and shoulder full responsibility when you can have a reputable agency handle them. 

Choose a trusted, reputable property manager to take care of your investment property

If you’re still unsure about switching, we encourage you to check our 5-star Google reviews to see what our clients say about us and our superior customer approach. We’re also on hand to answer your queries and provide the peace of mind you need before deciding.

Switching property managers doesn’t have to be a stressful and expensive process. The team at Dynamic Residential is here to provide you with the superior service you expect when you trust your biggest investment with professionals. Contact us today to learn more about our services and how we can help you on (03) 8600 1200.

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