Hi
Having just taken over managing my properties myself – and not knowing if I will have to use them – has anybody had to use the various Tenant Databases, that are advertised. Are they easy to deal with – had bad dealings with them. What are they called? Are they listed on the net? My properties are in NSW and ACT. Are there any fees involved?
Any responses would be appreciated!!!
Regards
Qbnjuggernaut
Hi Kevin
I don't know but when you find out will you let me know. We are thinking of doing the same.
Cheers Nic
Hi guys and gals,
For the sake of 5-6%, why are you tring to manage the property yourself?
Instead of spending the weekend checking whether the tennants have paid rents, it's better to spend your time scouting out a new deal.
Let someone else have the headache dealing the property and you're better off managing the PM and enjoying your weekend.
Happy Investing.
Many thanks.
Many thanks.
Prakman wrote:Hi guys and gals,For the sake of 5-6%, why are you tring to manage the property yourself?
Instead of spending the weekend checking whether the tennants have paid rents, it's better to spend your time scouting out a new deal.
Let someone else have the headache dealing the property and you're better off managing the PM and enjoying your weekend.
Happy Investing.
[/quoteWhilst I have enjoyed good PM's – I think the charge of 8-9% is money I could have in my pocket. It works out approx $240-$270 per month. Yes it is tax detuctible – but you still have to find that money every month. I have a good relationship with my tenants, and I feel that it is not "Me – Them mentality". My payments are done electronically, (internet banking) and touch wood , it appears to be ok at this stage. I feel if I do my own inspections, I can see for myself how my properties are being looked after. I have been in after my PM done inspections – and have been far from impressed. Plus my tenants dont have to physically go to the bank withdraw monies then find a car park, and finally pay the PM. The tenants appear to like this as well. A couple of keystrokes and the money is in my account.
Being a shiftworker, sat and sunday's are just another day. I personally like the hands on, and be in control of my properties, instead of other people. Still havent got any Database numbers. Anybody able to help!!!!!!!
With today's interest rate rise – we all have to tighten our belts. SO i dont think, I will be out scouting for new property.
Regards
Qbnjuggernaut
Hi Kevin
It's very popular with property managers but I haven't used it as we too aren't interested in managing our own properties. Good luck.
Cheers, Paul
Paul Dobson | Vendor Finance Institute
http://www.vendorfinanceinstitute.com.au
Email Me | Phone MeAn alternative way to finance your home.
I would endorse TICA.
I have just purchased a reasonable sized rent toll in Brissie and the Agency that run it for me swear by it.
Richard Taylor | Australia's leading private lender
nicola alison wrote:Hi KevinI don't know but when you find out will you let me know. We are thinking of doing the same.
Cheers Nic
I have just got a reply from TICA. Does not sound too bad. I think from the information they sent me, it costs $143 – this gives you 10 inquiries($14.30 per inquiry) this has to be paid up front. I dont need it right now – but definately when i advertise for my next tenants.
Hope this helps you – it did me.
Just a thought for all you guys that want to save the 8% or 9% by doing your own rental management and yet want all of the benefits (like TICA) that wouldn't exist without the dilligent work done by the Property Managers that you are now trying to do without. Talk about want your cake and eat it too. Do your own checks, that's the responsibility that you take on as managers.
Jon
i thought i would pay the 8% and save headaches with painfull tenants. i had my agent do an inspection in late feb. told me everything was good grounds neat and tidy. in april we took tenants to tribunal once again for non payment of rent. had locks changed and to our horror found the place a mess. our backyard had 525 tyres of different sizes not covered by insurance as they classify it rubbish left behind. my agent told me the tyres were not there when she did the inspection and that our tenant had removed them for the day. the grass was growing through the tyres. it also took 2 ten tonne trucks to remove them so i don't think my tenant would have gone to the trouble or expense. we paid $1600 to get rid of the tyres and we had to load the trucks.our other quotes were between around $4000. the tyres were clearly visible from the road so i am not even sure how the agent got to the front door without seeing them. i now self manage 4 of our propertys as i am secure with the tenants and if that changes then i will bring an agent in. if you do decide to self manage don't believe what prospective tenants tell you no matter how genuine without some form of proof. ie bank deposits group certificates etc. go to where they are currently living this can be a good indication of how they will keep your property. do your checks on all tenants as one may have a bad history so they will put the lease in the others name i now spend my weekends checking on my agents thankfully they are not all like this one and there are some good ones out there
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