Notice to leave existing agent
As the investor you are required to give written notice that you would like to terminate the agreement with the existing agency. The notice period can vary and the best way to identify the notice that you are required to provide would be to refer back to your managing agency agreement.
The most common notice period is 30 days, however this can be negotiated depending on whether it is close to end of month or there is a vacating tenant. In the notice, you will need to mention that Century 21 on Duporth will be the new managing agents. We have made this simple by creating a template letter for you, all you need to do is download, fill in the particulars and it is then ready to send to your current agency.
Changing Agency Letter Template
Sign Managing Agency Agreement
It is as simple as you signing the Managing Agency Agreement with us and we will take care of everything else.
What we will then do for you…
Contact current agency
We will contact the current agency via phone & in writing to introduce ourselves on your behalf and make a request for all documentation, regarding the tenancy/ies, to be handed over on an agreed date.
Contact current tenant
We will contact your tenant and inform them of the change of management, introduce ourselves, and provide them with instructions on how to pay rent as well as deal with maintenance & repairs and anything else outstanding.
Collection of documents and keys
We will collect the keys and all the associated documents from your previous agency.
Perform a first inspection
We will send an entry notice to your tenant and perform a routine inspection as soon as possible. This will allow us to to familiarise ourselves with the property as well as address any possible matters outstanding or issues the tenants may have at that time. Solely relying on the Entry Condition Report from your previous agency could create grey areas at the end of the tenacy, this way start on the right foot.
Some tips before doing a handover...
If you've decided you're ready to make the move and appoint a new property manager, there are a few things we recommended you do beforehand, to ensure your switch goes without a hitch.
1. Give the Required Notice
Check the termination clause of your management contract. Most management contracts require between 30 and 90 days notice to terminate a contract. If you don't give the required notice, you risk breaching your contract and may be exposed to pay out the current agent with their management fees.
2. Put Your Notice in Writing
Notification to terminate a management agreement must be in writing. If arranging the termination yourself, we recommend sending the notice via email and follow up with a phone call to your property manager. That way you have it on record it was sent and received. Of course if you personally don't want to get involved we can do this on you behalf.
3. Don't make it Personal
If your experience has been upsetting or you've been treated poorly, it can be hard to keep the emotions at bay. Once you've made your decision to leave, remember this is a business decision. Just focus on the transaction and look forward to this new stage for you and your property.
4. Check For Any Hidden Costs
Even if you do give the required notice, sometime there are agencies who will charge a fee if a landlord terminates early. Check what your agency is entitled to before giving notice, so you're prepared. You can then take the responsibility for paying the manager all fees they have incurred up until the contract termination effective date.
5. Ensure You Receive Copies of Important Paperwork
Always ensure you or your new agent receives copies of the current lease,condition/inspection reports, rental bond deposits and a statement of all income and expenses from your former agency for the current financial year. These documents should be sent to you or your new agent immediately upon take over of the management of the property and kept for your records.