Join our investing community

Property Management freebies - your views please

Discussion in 'Real Estate' started by lura, 22nd Mar, 2010.

  1. lura

    lura Active Member

    Joined:
    18th Apr, 2008
    Posts:
    33
    Location:
    Brisbane
    If the following offer was made for new property management business:

    3 months management fees free (saving 8.8% inc gst)
    then 4.4% for the next 3 months (saving 4.4% inc gst)
    Plus: 1 year smoke alarm servicing
    Plus: 1 year tenancy pest control (not including termite treatment)
    But does include: 1 termite inspection report to AS 3660.2 by a BSA qualified provider

    How would you assess the deal?

    You thought counts.
     
  2. Simon Hampel

    Simon Hampel Co-founder Staff Member

    Joined:
    9th Jun, 2005
    Posts:
    4,619
    Location:
    Sydney, Australia
    Personally, all I want from a property manager is someone who knows their business back to front, is prompt and courteous when dealing with my tenants (and with me!), communicates well, and can be relied on to do things with my best interest in mind.

    I expect good value, but I don't expect "freebies". I'd gladly pay a little more for someone who was genuinely great at what they do. But I have high expectations and demand they perform.
     
  3. lura

    lura Active Member

    Joined:
    18th Apr, 2008
    Posts:
    33
    Location:
    Brisbane
    Ok. I can respect that. Even so, how do you know how professional they are?

    We all know real estate agents are great at telling others how wonderful they are - but few are willing to put their money where their mouths are.

    I've seen so many blogs where owners bleet about PM's not communicating with them - so how do you choose your agents when all you have are promises at the start?

    And isn't cashflow important to owners? The deal was thought out to include practical things that was positive not only for the owner but also for the tenants.

    If the quality of service was there - how do you then choose the agent?
     
  4. jrc

    jrc Active Member

    Joined:
    3rd May, 2007
    Posts:
    32
    Location:
    Western, NSW
    How much does a rent roll cost? A google search in Sydney shows for one rent roll which averages $600 p.w, they are asking just under $6000 per property.

    So what is being proposed could be a cheap way of acquiring a rent roll.

    What stops them walking after 6 months? Why should they trust their asset to the new agent? What is the agent's reputation, are there any testimonials.

    I think Sim has summed it up well. I have one agent who took over a poorly managed property. She has got arrears up to date etc. Worth every cent.