How to Change Real Estate Rental Agencies

Role of a real estate agent

Your agent or property manager is someone you pay to help manage your property. They are legally required to act in your best interests, and must:

• act ethically
• act fairly
• act honestly in all dealings (with yourself and the tenant).

If your current agent is not doing their job with due skill, care, diligence, and/or has engaged in misleading or dishonest conduct, they will be in breach of the rules. Should this occur, action can be taken.

Your rights as a landlord

Knowing your rights is important when considering a change of agent to handle your investment property. If your agent is not performing, you may be able to terminate your management agreement without penalty.

Non-performance could include:

• Lack of securing tenants promptly
• Failure to conduct regular inspections
• Not arranging necessary maintenance at your property.

Rental agency management agreements

Terms and conditions in management agreements can vary between agents. You should check the original rental agent agreement made to ensure you understand it before looking to secure a new agent.

However, some agreement elements are standard. For example, the requirement that you give 30 days’ written notice before the lease expires, expressing your wish to terminate the agreement.

Though, this can also be done earlier. Acting sooner will give your new agent more time to negotiate with the existing tenant if they:

1. Intend to stay at your property
2. Sign a new lease.

Many management agreements in the NT include a clause – stating that the agent is entitled to 50 per cent of the management fees they would have earned up to the end of the current lease.

This is, of course, only applicable where the agent:

1. has acted reasonably and responsibly
2. is working in your best interests.

If they haven’t acted in this way, they are not doing their job. This includes not returning your phone calls or emails. If this occurs, you should be entitled to:

• end the agreement without penalty
• move to an agent who will work for you.

What makes a great property manager?

A great property manager will get your investment property working with:

• An excellent return
• Engaged tenants
• Timely management of finances and maintenance issues
• Excellent communication.

Do your homework! Research local agents, ask other property investors for recommendations, read reviews on the agent’s service, and meet with the agent you will be working with.

Trust Habitat Real Estate!

Prior to starting Habitat Real Estate, company founder and owner Emma was where you are now.

She was dissatisfied with how her investment property was being managed – and was looking for an agent with professional knowledge and exceptional service.

She decided the best way to get what she wanted was to become an agent. Now, the team at Habitat set the benchmark for rental properties management in Darwin.

When you are ready to make the change to Habitat, the agents will:

• put you and your property first
• contact your local agent to give 30 days’ notice
• do the rest!

That’s real estate property management with a difference, and service with a smile!