Proximity (managing agent) sequesrasted

zerocool2009

zerocool2009

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Anyone else in this boat (estate now without a managing agent)?

Pretty scary. Hearing they used to manage 100+ estates
 
zerocool2009 said:
Anyone else in this boat (estate now without a managing agent)?
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Not exactly, but I have been in an estate where the managing agent was useless.

It’s awesome! Might is right in this situation. I told my neighbour to stop making noise and he couldn’t refuse because he knew I could kick his ass. You can take other people’s parking, you can paint your outside walls yellow, whatever you want.
 
3WA said:
Not exactly, but I have been in an estate where the managing agent was useless.

It’s awesome! Might is right in this situation. I told my neighbour to stop making noise and he couldn’t refuse because he knew I could kick his ass. You can take other people’s parking, you can paint your outside walls yellow, whatever you want.
Click to expand...

In this case! The BC is managing agent-less (as in instant), and reserve fund money.... gone!
 
zerocool2009 said:
In this case! The BC is managing agent-less (as in instant), and reserve fund money.... gone!
Click to expand...
Are you a trustee? If it comes to hand to hand combat, will you be able to kick the other trustee’s asses?
 
3WA said:
Are you a trustee? If it comes to hand to hand combat, will you be able to kick the other trustee’s asses?
Click to expand...

Yes. But in this case, this managing agent manages another estate (where I invest)

I just got the news via the owner’s group. Its mayhem!

Rule #1: never invest via managing agents!!! (A simple rule)
 
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Speedster said:
Surely the reserve fund is in a dedicated trust account?
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I know a few managing agents getting a “super nice” interest rate via banks. That attracts BC’s to trust managing agents.

Seen it with a few big shots.

In reality, the BC scores less, as the managing agent gets 2% of the % earned, for free!

Its actually such a BS system!
 
In very few occassions you actually do get good managing agents, but it's like winning the lottery and is usually an agency that only manage a few BC's..
 
zerocool2009 said:
I know a few managing agents getting a “super nice” interest rate via banks. That attracts BC’s to trust managing agents.

Seen it with a few big shots.

In reality, the BC scores less, as the managing agent gets 2% of the % earned, for free!

Its actually such a BS system!
Click to expand...
Talk about deflection. How about saying, "good point. The reserve funds are safe.“?
 
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