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  • Profile photo of KazKaz
    Participant
    @kazimn
    Join Date: 2006
    Post Count: 5
    March 21, 2015 - 4:46 pm

    Hi Steve,

    I couldn’t agree with you more re:

    steve572 wrote:

    Recent changes to legislation mean that tenants now have many more rights than they used to.

    But those change aren’t anything to be concerned about as long as your PM and/or you have been treating your tenants with respect. Would you agree?

    Could you share more details around how you manage your properties?

    Thanks in advance.

    -Kaz

    Profile photo of KazKaz
    Participant
    @kazimn
    Join Date: 2006
    Post Count: 5
    March 21, 2015 - 4:33 pm
    Catalyst wrote:

    If you want to self manage you need to make sure you are aware of all the rules and regulations.

    My only concern is tenant checks. Bad tenants target self managers as there aren’t often checks in place.

    I think it’s fine if you have 1-2. It can get a bit onerous if you have multiple, but then again you are saving more on fees.

    It depends on yourself as well. Are you able to distance yourself from tenants personal issues or will you get attached and feel you can’t put the rent up because they just had a huge electricity bill (for example). If you have a good tenant everything can be peachy. But what happens when things go south. Do you know the procedures to go to tribunal etc?

    Sometimes it’s better to keep it business like. Personal decision.

    Hi Corey,

    Thanks for sharing your opinion could you also share how you manage your properties? What works well for you and what doesn’t?

    Kaz wrote:

    How you manage your properties?
    How is it working for you?
    Have you tried other approaches, like switching agents, managing them yourself or doing it online?
    What would you like to see changed?

    Thanks in advance.

    -Kaz

    Profile photo of KazKaz
    Participant
    @kazimn
    Join Date: 2006
    Post Count: 5
    March 20, 2015 - 8:19 am
    DeanCollins wrote:

    5% management using the two different agents we have.
    1 weeks rent for each new tenants + about $40 for a renewal (if possible I always prefer to have a lease and not go month to month).

    What would I like to see more automated online reporting …..
    1/ all rent collected, payment dates, last increases, trend line reporting etc
    2/ all expenses dates etc
    3/ online inspection reports – last dates, photos etc

    For the amount of money they are being paid and considering these days most tenants are paying rent online etc….that’s the least they should offer for 5%.

    If you are agent in Sydney and offer these features I’d be interested in hearing from you.

    I hear you Dean.

    I even struggle with some of the monthly ledger reports I get sent. Every time I look at one I wonder why it has to look so complicated.

    From what I understand most of the main systems that the agents use have landlord portals but they just don’t get used. I’ve never asked the question directly but I put it down to either it just not being an industry standard (them not being comfortable with it) or theres not enough in it for the agency.

    I’ll ask my sydney agent, who’s fantastic, if he can satisfy your needs.

    Thanks for contributing!

    Profile photo of KazKaz
    Participant
    @kazimn
    Join Date: 2006
    Post Count: 5
    March 19, 2015 - 8:58 am

    Hi Rob,

    Thats facinating I’ve not come across anyone with that arrangement before and I’ve been going to Steve McNight seminars for years.

    What’s your process for finding tenants yourself?

    Thanks.

    -Kaz

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