Real Estate agents (rental issue)

StealthAu · 28-11-2007, 12:38 PM

Recently I moved to Brisbane, found a place advertised at $280 per week. Called up the real estate agent for this property and had them draw up a 12 month lease. I specified I wanted the lease to be setup with a monthly rent figure as this is how I would be paying. So the deal is I pay rent one day a month, to work out what the rent should be they should times the weekly amount of $280 by weeks in a year 52, and deivde by months 12. Comes to a monthly rate of $1213.34 instead they just multiplied the weekly sum by 4 so I only pay $1120. On the lease it reads rent is to be paid monthly, with a figure of $1120 due on or before the last day of each month. Now I paid rent a week ago, and just received a receipt in the mail for rent from the 6th of November to the 23rd of December,This person looking after my lease is soely responsable for rental properties, not sales so you'd think they would know what they are doing.

AndyZH · 28-11-2007, 02:12 PM

Unfortunatly bodgy rental agencies are pretty commonplace. My wife and I have a couple of rental properties that we manage ourselves to avoid agencies completely.

We have been to the tenancy tribunal a couple of times over the last 9 years for different things (nothing to do with tenant/landlord problems, rather for administrative functions) and have been amazed at the number of cases that fall down as the agent acting for the landlord has not done their job properly or at all. We keep good records of when people move in, contracts for all changes, submit bond and bond change forms, etc, but have found that many places dont bother with that... Its not that hard!

If they have put on the contract you will pay $1120 a month your laughing! The landlord is the one who will suffer due to the incompetence of the agency, they wont be laughing when they find out...

vandrsxr6 · 28-11-2007, 02:14 PM

Wouldn't worry about it.

If that is the agreement in the contract then he hasn't got a leg to stand on if anything happens.

Just let it slide until he mentions something.

Mark351 · 28-11-2007, 02:18 PM

Property managers should know better, it's a common request as people get paid monthly. The other guys are right, if the contract stipulates the amount, you're fine.

fmc351 · 28-11-2007, 02:58 PM

The difference will come off the estate agents fee. They would have a contract with the owner.

StealthAu · 28-11-2007, 03:32 PM

Just spoke with them and they are trying to say no they can't do it for 1120 a month, I laughed at them and asked why they put it on the lease then. They want to look into it and get back to me, I reminded them I have a copy of the Lease. Funny thing is I know the owner and he is getting paid $255 a week for the place, so the real estate is earning less then $4 a week.

AndyZH · 28-11-2007, 03:40 PM

They dont have a leg to stand on. You asked them to give you a monthly rate, they offered the monthly rate of 1120, you accepted the rate. A valid contract is in place supporting that.

If they want to change it, etc, refer them to the tenancy tribunal where they can submit a request for a hearing.... VERY unlikely they will as they have next to no chance of winning.

AusM · 28-11-2007, 04:11 PM

... and they'll have to give you a notice period to increase the rent and can't get you to backpay.

Also, to calculate the monthly rate accurately:
Weekly rate divided by 7 (=daily rate)
x 365.25 (=yearly rate, using leap/normal year average number of days)
divided by 12 (=monthly rate)

Quasi · 28-11-2007, 04:26 PM

Quote:

Originally Posted by stockoau

Recently I moved to Brisbane, found a place advertised at $280 per week. Called up the real estate agent for this property and had them draw up a 12 month lease. I specified I wanted the lease to be setup with a monthly rent figure as this is how I would be paying. So the deal is I pay rent one day a month, to work out what the rent should be they should times the weekly amount of $280 by weeks in a year 52, and deivde by months 12. Comes to a monthly rate of $1213.34 instead they just multiplied the weekly sum by 4 so I only pay $1120. On the lease it reads rent is to be paid monthly, with a figure of $1120 due on or before the last day of each month. Now I paid rent a week ago, and just received a receipt in the mail for rent from the 6th of November to the 23rd of December,This person looking after my lease is soely responsable for rental properties, not sales so you'd think they would know what they are doing.

If they make anything of it ring the RTA (Residential Tenancies Authority) on 1300 366 311. The team at our call centre are very informed and helpful. Beyond that we have a disputes resolution section...as well as legal and investigation sections that give agents a kick in the butt when needed.

There is also our website at http://www.rta.qld.gov.au/

AndyZH · 28-11-2007, 04:27 PM

Quote:

Originally Posted by Quasi

If they make anything of it ring the RTA (Residential Tenancies Authority) on 1300 366 311. The team at our call centre are very informed and helpful. Beyond that we have a disputes resolution section...as well as legal and investigation sections that give agents a kick in the butt when needed.

There is also our website at http://www.rta.qld.gov.au/

Great piece of advice!

StealthAu · 28-11-2007, 04:33 PM

I'm going to offer them a get out of jail free card, scrap the contract and refund the bond. Not a fan of the place so might as well us this to get out of the lease

Quasi · 28-11-2007, 05:15 PM

If you can come to an arrangement with them it would easier for you.

I have just clarified the situation with one of our conciliators, on your behalf, from the info at hand. As expected you don't get to walk away scott free.

If you were aware of the disrepency you should have pointed it out to the agent/property manager. If action is taken the magistrate will force an agreement between both parties....it is extremely unlikely (next to zero chance in fact) that the full responsibility will fall on the agent....sorry.

StealthAu · 28-11-2007, 06:39 PM

Bad luck for them, I am not paying a cent more then what was agreed on the lease for the 12 month period. I'm one of those people that will happily thow 10k down the tube on legal fees just to save $120. Why? principals. If they can't do there job right too bad for them, I'm sure if the error was in their favour they would stick to it.