Recent content by BeYourOwnAgent

Because "selling" yourself vs actually doing the job are 2 completely different things unfortunately.

I respectfully have to disagree. Average portfolio across all agencies I've encountered is 150 - up to 200 if it's a senior PM with an assistant. At 60 - 90 properties the numbers simply don't work - especially in places like Sydney where fees are at or below 5%. A PM, with good systems...

Copy of the tenant ledger - probably the most important part! This shows the payment history of the tenant and also where they are currently paid up until. Also make sure you have the agent provide you with a transfer of bond form, all you'll need to do is sign and return to the bond board...

Hey everyone Interested to hear if any of you day trade shares? If so, how did you get into it?

Haha I don't mind it - clever work for doing something different.

If the PM has been chasing up the arrears, ask for evidence - you'll need it at tribunal, and it would also be good for you to know how they have chased We used to send SMS, emails, registered post; definite trail of communication attempts. If they haven't, approach the agency principal...

Given the opportunity I think anyone would do this. We sold a very profitable and growing business because we got completely disenchanted. It's a cliche, but money doesn't buy happiness - in our case, it did the opposite. I was a miserable 30 year old driving a super car and running a very...

I'm not sure of different states, but in the ACT an agent can't give a market opinion without physically inspecting the property. Pretty good reason; you can't give an accurate price unless you've seen the home Sure, there are exceptions ; if it's a complex with loads of recent sales for...

Depends on the tenants ability to enter a repayment plan. The tribunal member will take their earnings into account, as well as hardship and other mitigating factors. The times we had this at my old agency, the tenant was always awarded a small weekly repayment plan; it's a joke to be honest...

For best practice purposes you should ask. Agencies need to have a SOP (standard operating procedure) manual - which is constantly updated. Whenever something new or interesting came up, I, as the principal, would write a new SOP and have it added to all the PM's folder, and they would...

It all comes down to personal choice. For me, there is no way I'll spend over $2,000 a month on management fees, when the majority of the time it's simply rent collection. The issues are never complicated or hard enough for me to warrant paying those sort of fees.

Looks like there will be a few options coming up soon for owners who don't want to use traditional agencies. I think this is brilliant for the market place. The days of PM's charging huge monthly fees for effectively zero work are going to be a thing of the past. Bring on the revolution! ;)

With my old agency in Canberra, we charged 8.8% management fee 10 day letting fee $8 sundry fee Half week re-letting fee

Wow. If I were to ever open a bricks and mortar property management business, it would definitely be in WA! Those fees are crazily high!

It all comes down to systems, organisation, and a bit of energy at the start to learn the processes and how things work. To be honest it's all common sense. Run on an average management fee of $130 per month, which = approximately $1,500 per year, without taking into account letting fee...