Recent content by MPmelb

Your situation is different. You have IP's in different states so then it's wise to use a PM in those states. To self manage you need to do reference checks. I always get 2 references - work and the previous landlord. And get proof of income thru payslips. It's not for everyone and it's...

Let me tell you, I've had experience with it in the past - and so have friends I know. It's not as hard as you may think - but the key is you have to find and screen the right tenant. You have to stringently do the referral checks. That's where a good PM can help. I self managed for years...

That's a good question :o I've currently got a PM for my property and am disallusioned by their service. So I am definately considering DIY. Melbourne is currently an over supplied rental market so finding the tenant will be harder. That's where a PM can be helpful.

using your example, $28 per week = $1456 per year, $14560 over 10 years, $29120 over 20 years, etc...bet you could find a good use for that type of $$$. And that's compounding money your saving - so imagine that money compounding at conservatively 5% p.a. Crikey that adds up to a lot of $...

Yes, in an ideal world you would get what you pay for...but that's not always the case in real life! I really doubt there's all that much difference between the best and the worst property managers out there. Most owners could better manage their own IP if they just put in a bit of effort and...

Hi All, My tenant is vacating in the coming weeks. My current PM wants: 6.5% + gst commission each month 1.5 weeks rent to get a new tenant $220 to advertise my IP on all the real estate websites $100 for a board. He went away on holiday and came back last week and I've never...

Howdy all, I saw the advertising sign "$1000 cashback to let your property" in outer east Melbourne recently. My rental property is inner east so when I rang them they said they didn't service that area. *Has anyone taken advantage of this type of offer? If so, what was your experience...

Hi All, We have an apartment block of 26 in Prahran. The last 2 body corporate managers (Binks & VBCS) have provided below standard performance and high fees, so we are looking for a change. **Can anyone recommend a Body Corp Manager who provides good reliable service and smart...

Hi everyone, Can someone please recommend a person to sand and polish my floors - they are radiata pine floors. Someone who will do a good job at a good price. Thanks :)

I'll recommend who the best PM for you is: YOU. It's not as hard as it seems people. Only you can truly care for your asset. Golden Rule of business - Mind Your Own Business.

You can read about my experience here: http://somersoft.com/forums/showthread.php?t=88791 I learnt a few things the hard and expensive way from this experience: (1) Having IP's can be like throwing money down the drain. The net rental yield in Melbourne is around a lousy 2%. Pathetic...

The downside is when you have a "Shared Meter" building. That means the landlord pays all the water, including the usage. And to get it converted to separate water meters will cost a lot of money, about $20,000 in total for a 16 apartment block. So it is really worth getting it converted...

Hi All, The hot water pressure from the new water saving shower head is not strong because my IP has a gravity fed hot water service, and also the new water saving shower heads are not suitable for such a system. So the tenants are not happy. I am looking for an old non water saving...

This is what I've decided to do now - I'll manage it myself a lot better than any PM will. For most people, it's probably a time concern and wanting to keep the tenants at arms length that's why I always used a pm. But not after this bad experience. Only you can truly care about your...

I certainly learnt some big lessons from all this: (1) Having IP's can be like throwing money down the drain. The net rental yield in Melbourne is around a lousy 2%. Pathetic (2) Most tenants don't care about your IP and will damage it. (3) Most real estate agents don't care about...