Hy there need help and good advice.
After purchasing a five plex six months ago we are still having a lot of trable finding a good property managers. We have sucked three of them in a short period of time and have appointed two new ones and finding it difficult to have them do any work.
eg: It takes about 3 weeks to display an ad on the window and the internet and it is still wrong from the price to using a some one else pictures for the bathroom. We are thinking of taking over the management our self but we are out of state.
Does any one have any good advice or ideas? thank you .
Originally posted by tint8754:Hy there need help and good advice.
After purchasing a five plex six months ago we are still having a lot of trable finding a good property managers. We have sucked three of them in a short period of time and have appointed two new ones and finding it difficult to have them do any work.
eg: It takes about 3 weeks to display an ad on the window and the internet and it is still wrong from the price to using a some one else pictures for the bathroom. We are thinking of taking over the management our self but we are out of state.
Does any one have any good advice or ideas? thank you .
OOps! I was trying to highlight & send line 2 only,of your post: “We sucked 3 of them in a short period of time….” ,sorry-but that tickled my funny bone! i wonder if that’s why they havent hung around?
Cant help you with a real answer though,sorry.I laughed at that one too Misty
Tint, if you post the area you may get a response from someone who has dealings with a PM or can recommend one as you haven’t given much information?
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorSounds like a common problem investing out of town. As a property investor I highly respect said to me – “When your out of town all types of people take advantage of you.”
I would just find a property manager and work with them. You need to take control and do things like ask when the picture will be on the internet. You then go check it out on the day they said. If its not there ask why. They work for you and you need to monitor them.
Its no good swapping agents. They all talk to each other and you eventually get a reputation.
As your out of town and need someone to manage your property make sure they are well paid. You want your properties to be at the top of their list.
You need to speak to them every few days if you have a unit untenated.
I was away for 5 weeks and when I get back I found out a tenant was to break the lease. They gave 4 weeks notice. When i returned it was already 4 weeks. thats bad – its a very large unit in a great area. I got onto the job, re-wrote the ad and within 10 days we had a new tenant.
Time for you to take control but work with a property manager in the town. If your too passive so too are the property managers. Thats my experience.
I do my own adds then give it to them that way i know it is done and done correctly secondly my adds sound better because i love my properties.
Negoiate with the best two agents in any area has always worked for me, but stuffups always happen, thats life, try having twins !!!!!!![hair2]
Thank you for all the replays and informationt i will try to impelement it. Once again thanks heaps
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