i realise there has been ample opinion and advice on diy property management. unfortunately given where i have bought, i dont have any choice but to do it on my own due to no pm’s available.
i currently have a tenant who has just moved into the property, the agreement has been signed, deposit books sent however im not sure if they know what to do in the event of a problem with the property, i.e. contact details etc.
does any foresee a problem with a brief letter to the tenant advising them of who to call etc. bare in mind that the property is not near my ppor. does anyone have any advice on this matter?
Thanks,
EricHave him call you first.
Find a local handyman who can fix smaller problems and look at larger ones for you.
Then call a local tradesman if necessary.
Should be tradesmen and handymen listed in the local paper.
Cheers,
Simon Macks
Finance Broker
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Originally posted by neo25x5:….i dont have any choice but to do it on my own due to no pm’s available…..
Thanks,
EricJust out of interest…where in AUstralia is there a spot where there is no Property Manager available?
Michael Yardney
METROPOLE PROPERTIES
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FREE subscription http://www.metropole.com.auHi Eric
i think that as Simon says (excuse they Pun), you need to provide the tennnat with a list of contacts if things go wrong
eg electrician contact …, Plumbing …. etc, they must also have your emergency details so they can track you down. You need to speak to the refered trades people and have an arrangement that they can address any issues (say up to a $$$) without having to get your permission ?
Did you really want to manage the property yourself while your so far away ??? i hate managing properties that are only 1 km away.
all the bestregards westan
USA information evenings in Melb, Syd and Brisbane in early April, email me for more info. We find cash positive deals showing 15-25% Returns in the USA email me at [email protected] to join our database
I meant just give the tenant one contact – yours.
You need to keep track of everything and organise the appropriate tradesman yourself I think!
Cheers,
Simon Macks
Finance Broker
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Michael,
Somewhere like Jeparit or Rainbow might qualify as “RE manager free zones”? Or at best managed from great distances if you don’t have a friend or a mum who could do it.
Anne.
Neo,
When the tenant moved into my regional property last June and I didn’t have a PM yet I sent the tenant a letter saying welcome and outlining how to contact me (e.g. SMS my mobile and indicate urgency), and other important matters.
But I now have someone local to look after it for me, I outsourced it.
skippygirl
) (No. 3 post Steve) [biggrin]Eric,
I’m assuming you knew of this predicament before you purchased the IP and hence have allowed a sum of money extra in your budgets to cover the extra costs that shall undoubtedly crop up ??
If so, were you able to palm these off to the tenant ??
Cheers,
Dazzling
“No point having a cake if you can’t eat it.”
i definitely like your idea skippygirl, and infact done this prior to reading your post. thanks anyway.
to Dazzling, im not sure exactly what you mean by extra costs? what extra costs? if anything it will be cheaper wouldnt it?
thanks to all who replied. much appreciated..
Eric
I only give my mobile number to tenants so that is things so bad and thye ring constantly at silly times of the night to annoy me, I can a least turn it off.
Also they only ring when something really is a problme that way due to the extra cost.
I’ve not had a problme managing things form a distance that way. Mind you, I had occassion to meet a couple of the tradespeople in the town then renovating so have contacts if I need something fixing.
Good Luck
PKWell I don’t know Eric….
You’ve got all the information about where you are / where the IP is / what the distance is between them / facilities and services in the town / type of tenant mix / condition of appliances etc.
What’s going to happen if the HWS fails at 10pm on a Saturday night ?? How long are your tenants going to be without hot water ?? What is it going to cost you (in both time and money) to get the system – old or new – up and running ??
Umm…what if you are on holiday and you get a call for urgent attention to something.
Personally, if a PM wasn’t available and you didn’t / couldn’t / wouldn’t deal with an issue, I’d put away something extra away in the budget to cater for the expenses that will undoubtedly flow from these events…
Agree or not ??
Cheers,
Dazzling
“No point having a cake if you can’t eat it.”
agree dazz!
Neo, you need a strict back up plan. Make sure the unexpected drama of extra costs….is expected by you. As far a contact details.My tentants have my email first (for minor queries only) and my mobile for any major dramas that may occur. But I am ready (financially) in a hearbeat to outsource it to a tradesmen, PMs etc.., should this occur. Touch wood I have been bleesed so far that they havent need to call me. Just be contactable and approacable to your tenants.By the way I don’t have any good or bad opinions on PMs, because I dont use them. (This may change over the next few months).
cheers.[biggrin]dazzling i hear you now. thanks. ofcourse all these things that you mention are things that can happen anyway, anytime. i do happen to be in contact with a very good local tradesperson in the town. and yes i definitely agree with having a buffer in the event of a problem, which i already have. thanks dazzling for your input. and i like your comment hutch about being approachable etc. thanks hutch.
) (No. 3 post Steve) [biggrin]
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