Forum Replies Created
- Originally posted by longshanks:Originally posted by ozi:
Hi longshanks,
How do you plan to self manage a property interstate? A bit risky plus could be a headache if you ask me. How far are you from the property?
Regards,
Ozi…lets try that again….
Hi Ozi
Thanks for your interest….yeah done it before without much hassle….thanks anyway…so any tips on payments?
ls
Hi matthewc73
Are there any ‘national’ property management firms out there? Just thinking…with rent payments able to be done online or at the post office, there isn’t much need for a shop front anymore….surely there is someone out there….anyone know of any?
cheers
longshanks
Hi adambc
One solution is to not pay the letting fee. Be it through managing the property yourself, or by negotiation, make sure you pay as little as possible in the way of a management fee.
Property management is a straight forward business transaction, whereby the property manager ‘manages’ the property and in return the investor pays them a fee (the management fee) – end of story. I’m sure they will come up with many reasons why you should pay them the management fee: it covers the cost of doing checks on new tenants; it covers administration fees and office expenses. But, at the end of the day, these are just:
- Business costs (that they should meet through revenue – namely the management fee)
- A level of professionalism that they should be providing in the first place, and is the very reason you give them the business over the next property manager
Just imagine if investors were to start refusing to pay the fee, or better still matched the property manager’s letting fee with our own ‘administration/application fee’….
While we’re at it…have a think about Loan Application fees, what they are and why we pay them…
regards
longshanks
