To make a long story short, we had a tenant who broke the lease about 6 weeks ago. We are managing that IP ourselves but we were using a Real Estate Agency to find us the tenants, screening them, setup the contract and do the inspections for us.
The property is with no tenant since 6 weeks which did not bother us too much as the ex tenant kept paying the rent. We have told the agency to look for a new tenant which they have for the last 6 weeks with no success. Unfortunately from this week on it is costing us money as the ex-tenant lease is expired and still haven’t found a new tenant.
On top of that the agency said that they are not longer able to give us the same service as before as they were taken over by a bigger Real Estate Company. Our PM said she was moved to administration as well as the other PM from that office and they would not have any PM. If only the poor landlords know that there is no PM who looks after their properties.
Up to now we where happy with their service as they only charged us to setup the tenant and we took over from there.
We are just wondering if someone knows of an agency that could find and setup a tenant for us preferably north of Perth.
Jsandso
What area specifically ?
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow Calculatorwot about when stuff goes wrong who do you blame the agents who found the tennat or youselfs fro not managing proply?
if you pay for agent to find tennat why not go next step or are you trying to save on comission and run risk of biggar probs down the track? [blush2]I can understand agents dropping landlords. I know my property manager has told me how they really only want landlords who are prepared to offer reasonable properties.
If the property deteriates they will not manage it anymore. I would do the same if I was a property manager. Why manage something that creates more trouble than what you are getting paid for.
As for some property managers not being too keen to source tenants then to loose the listing to the landlord. I would be finding tenants and pointing them to the properties managed by the firm.
This may have worked in the past when there was a shortage of properties but now that there are rental properties everywhere – what would you do if you were the property manager?
Yack,
the reason they dropped us is because the firm has joint with another bigger Agency and not a deteriorating property.What annoys me only is that they took our business and half way through they tell us sorry we don’t do this anymore.
hotshot,
it is not about blaming someone, it is about an Agency which does property managment without even having staff to do property managment. I don’t know, but I think I don’t want to pay someone more then $1000 per year who does not even exist.Hi Jsandso,
There was a company who were promoting themselves as providing precisely the service you are after. There was an article about them in the weekend papers some time ago (as in months ago) but I didn’t pay a lot of attention to it.
I would be a little sceptical of such an arrangement anyway. In my experience tenants will look at a ‘local’ agent’s windows/to rent list when searching for somewhere to rent. As such you may limit the number of potential tenants if you use a centralised agency as per my initial paragraph.
Another option may be to see what other agents in the local area can/are prepared to do. Why not use the same approach as you used previously to find your first agent?
Derek
[email protected]Property Investment Support Available. Ongoing and never stopping. PM welcome.
I understand this is not your real problem here but I never located tenants for someone to manage themselves, its not worth the liablity problems that can happen when something goes wrong just for a letting fee.
There must be a good PM in your area, I personally would prefer a agency with as separate a property management department as posible. One that almost runs indepentantly of the sales department. Or better still a stand alone property management business. Are there any large franchise agencies in your area ? At least they have regular training and updates/backup.
David J
Licenced Agent/Sales ManagerWe have also used agents to find us a tenant ie: a “To Let Only” agreement. In the past it has cost us 2 to 3 weeks rent to do this. Basically, they are able to check the bad tenants database etc which we can’t check ourselves. We then manage the property after that. So far we have always had good tenants through this arrangement, but we do have landlords insurance in the event that a tenant goes wrong.
There is nothing stopping the agent putting their listings first, however if your house if different in some way then it may appeal where other houses don’t. Many agents do this type of agreement in the hope that you may come back next time or you may run out of time to manage it yourself and then they hope you’ll hand it back over to them. If we ran out of time we would hand it back over to the agency that found the tenant as they have found us good tenants. Further, one agency said that if anything did go wrong we could go back to them for them to do the court documents or other paperwork if required (for a fee of course).
Dereck, your house does appear on the “Rent List” in an agencies window as they are still hired to rent it, just not manage it afterwards.
jsandso, jsut ring around the agents in the area and see if any will do it and at what cost. I’m personally happy for the cost to be a bit higher than a normal letting fee as don’t get the ongoing commissions.
Well, good luck.
PKHi PurpleKiss,
There is nothing stopping the agent putting their listings first, however if your house is different in some way then it may appeal where other houses don’t.
Very good point. Haven’t thought of that.[blush2]
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