Property Managment Agents

Viewing 7 posts - 1 through 7 (of 7 total)

Kirby-Fahey
Member
@kirby-fahey
Join Date: 2012
Post Count: 1
October 8, 2012 - 4:50 am
I am seek comment on the pros and cons on the use of Property Management Agents. I am currently reviewing the overhead expenses of my rental portfolio. I have 12 tenants all the properties are geographically within 45 minutes of each other and whilst I use a number of agents the management fee percentage is the same.The percentage of my overall expense budget including interest on mortgages is 10.64% excluding the interest payment it is 41.55% . All my properties are cash flow positive.
The fees I pay the agent would impact my surplus by 30%. However the full management of the properties would become my focus and responsibility. After analysis of the issue it is clear the sourcing of quality tenants is the core contribution the agent offers.
I am keen to hear from others regarding this issue and why they choose to do it the way they do
Terry K-F
Scott No Mates
Participant
@scott-no-mates
Join Date: 2005
Post Count: 3,856
October 8, 2012 - 10:28 am
bundle your properties within small groups – there may be a discount for having several properties with one agent.
DWolfe
Participant
@dwolfe
Join Date: 2009
Post Count: 1,253
October 10, 2012 - 6:53 am
Hi Terry,
I guess the question is also about your life. So by having those properties managed by someone else you pretty much only have the occasional call or email.
With 12 tenants, how many calls or emails or issues will you have to or really want to deal with. I think my tenants are all lovely. I've never met any of them, or spoken to them, and I don't live anywhere near any of them.
I like to not have the hassle of people calling me or emailing about 'stuff'. I like not to have to worry if the rent is a day late, coz my bulldog managers are all over it. It's really a small price to pay.
Just my opinion
Cheers
D
DWolfe | www.homestagers.com.au
http://www.homestagers.com.au
Email Me
Catalyst
Participant
@catalyst
Join Date: 2008
Post Count: 1,404
October 10, 2012 - 10:20 am
New poster-, first post with a problem.
Another new poster (first post) had a WONDERFUL solution with a recommendation for a company they use.
How lucky!!!!.
DWolfe
Participant
@dwolfe
Join Date: 2009
Post Count: 1,253
October 10, 2012 - 11:26 am
LOL!
I chose to overlook that Catalyst and hope that others (especially newbies) may just take on board some advice. I was quite taken with the 12 properties part. As if you would even contemplate managing it yourself with 12! lol.
Whether he's a fake or not, the advice remains the same, DIY = More work!
Cheers
D
DWolfe | www.homestagers.com.au
http://www.homestagers.com.au
Email Me
Tony Fleming
Participant
@the-dark-knight
Join Date: 2008
Post Count: 396
October 10, 2012 - 11:27 am
Catalyst wrote:
New poster-, first post with a problem.
Another new poster (first post) had a WONDERFUL solution with a recommendation for a company they use.
How lucky!!!!.
Classic Catalyst
Tony Fleming | Triumphant Property Group
http://www.triumphantpropertygroup.com.au
Email Me
NSW Buyer's Agent specialising in Western Sydney-Blue Mountains-Orange-Albury
jameswhittak98
Member
@jameswhittak98
Join Date: 2012
Post Count: 3
October 14, 2012 - 11:28 pm
I am new to this investment thing, as I bought my first home and it has tenants until September 2013.
I need to know what to watch out for when finding a PM, the tenants already have a PM for the last two years, also the good and bad things about changing PM's
are there any good topics on this subject?
James W