Replies Created | Forums | Sez | PropertyInvesting.com

Forum Replies Created

Viewing 6 posts - 21 through 26 (of 26 total)

« 1 2

Sez
Member
@sez
Join Date: 2011
Post Count: 26
July 5, 2011 - 1:04 am
Hi Igino,
I would begin looking around for a new property manager. One of the main things to ask them is how many properties are in their portfolio! Depending on what area of VIC you are in that answer will vary. If you are looking with a PM with the time to really do their job well then don't go with an agency whos answer is 220+ properties per manager .
Living interstate the main thing to do is ask questions of your PM and see that they get back to you and actually have an answer for you! Ask about the current rent price, is there any maintenance, when did you last to a routine inspection, when are they next due for one etc. etc. etc. They should have the information on file and be able to answer all of your questions. If you aren't happy with your answers then your PM isn't doing their job well enough.
Scott no mates – So simple a PM can do it??? I won't take it personally
Sez
Member
@sez
Join Date: 2011
Post Count: 26
July 5, 2011 - 12:55 am
I work in a real estate agency and people get much further by coming in and having a chat. If people are going to do business with you then they will want to meet you and like you!!
Best place to start if they are busy is to book an appointment with them when you go in, often agents are very busy and while they are happy to see you may not have the time right away.
When you have a meeting with them why don't you get their card and offer to email them some information about what you do. You get in the door with a few agencies and then you will get recommendations to other agencies too.
I don't think a costly advertising campaign is the best place to start . Just my thoughts though
Sez
Member
@sez
Join Date: 2011
Post Count: 26
July 4, 2011 - 6:55 am
As a property manager I can tell you that these properties can be a lot of trouble. 9 rooms is a large mix of people, you don't only have to worry about the usual issues which come with investment properties but also have to deal with a large amounts of complaints from different tenants about other tenants! It can also be hard to find a property manager who is willing to take them on and then do a good job when they get it. Think really hard, speak to some agents in the area first and find some agents who specialise in rooming houses as different laws do generally apply.
Sez
Member
@sez
Join Date: 2011
Post Count: 26
June 30, 2011 - 2:27 am
If you are having issues leasing it but getting pleanty of people through who are just bad applicants, could be price. People who are desperate for a house but know they probably won't get anything due to a bad history will pay any price you ask!
If you aren't getting through then it is either the price, advertising OR presentation of the property once you get inside (which could come back around to price). Re-jig the advertising, go through the property, how is it looking? Does it need a paint? Are the carpets worn? What are other properties in the same area looking like compared to yours. They are your competition and where people will be going over your property – there is a reason for that!
Sez
Member
@sez
Join Date: 2011
Post Count: 26
June 24, 2011 - 4:37 am
Remember the laws will vary state to state as well. In my experience it is very hard to find a knowledgable PM for share accommodation and the ones who are knowledgable don't manage them.
It can have great rewards but, in my opinion (as a PM), the additional work and risk associated with it is just not worth it.
Sez
Member
@sez
Join Date: 2011
Post Count: 26
June 23, 2011 - 2:54 am
Depends on your state and lease etc. but yes, generally they can do this as they have a right to re-lease their property as quickly as possible once you have moved out. I am surprised with only 2 weeks to go your agent hasn't contacted you about having an open for inspection yet .