2 x PM, 1 Property

[cgw]

Was it ever possible to have to 2 Real Estate Agents trying to sell a property at the same time.
Could this be done - Can I have 2 PMs, trying to get tenants, and then the one who gets the tenant has my contract.
Rental shortage in Adel ?? My 3 bedroom in Exeter has now been vacant for 3 weeks.

 

[Rainshadow]

I'd be cautious of that, having two PMs finding tenants and giving the management to the one that rents the fastest. I'm always a bit leery of the Hot Body approach - rent to the first hot body that looks remotely interested - don't worry about references or tenant quality, just bung 'em in there ... sounds as if it will lead to problems.

 

[BV]

Vacant for 3 weeks?
I thought tenants were falling over themselves trying to find somewhere to rent.
I'd look for another PM. This one doesn't seem interested.

I never had the need to advertise using 2 REA's but I have seen it done.
You could see 2 and 3 for lease signs on properties a few years ago
when we had an oversupply of rentals.

I don't have a problem with it and the REA shouldn't have a problem either,
I'd ask him. If they come up with a tenant it's theirs.

Cheers

 

[cgw]

Yes, I know it is bazzar. Last Winter it took 5 weeks to rent out. Now 3. The PM is doing her best, on the net, newspaper and open inspections. Quiet street, near bus stops, near railway stn, near beach. It is next door to the New Port Queys (up market in Adelaide), so the rent is alot cheaper. As soon as I can I am going to give it to another agent, that is local. Perhaps it will be easier then to get tenants, as the PM in the local area may have more contacts.

 

[BV]

As soon as I can I am going to give it to another agent, that is local. Perhaps it will be easier then to get tenants, as the PM in the local area may have more contacts.

That's probably your problem
People who want to live in the area would be checking out the local REA's.

Although I an in a similar situation myself with 1 of my IP's.
In my case the REA is 10Km away but they are in a busy shopping district so they always find me tenants & therefore I have no reason to change PM's.

That particular IP was vacant in July last year, I had 12 tenancy applications and I suffered 1 week vacancy.
The rental market is tighter now though so today 1 week vacancy is probably too long.
Ideally, we'd want 1 tenant to be moving out today and the next one to be moving in tomorrow.

Cheers

 

[marg4000]

I think a local agent would be more appropriate as most people go to the agents near where they want to live.

We had a call from our PM yesterday - tenant on the Sunshine Coast has bought a home and will leave mid-March. Next tenant already lined up to go in the day after the present tenant leaves (break lease, so no cost to us).

Our PM says they don't bother to advertise properties any more, they simply keep a list of interested prospective tenants and work from there.
Marg

 

[steveadl]

Sounds like the problem is you're not using a local agent. Any good local agent would already have a database of renters in the area, so shouldn't be that hard to find you a tenant. Especially since it
's been what 8 weeks now, as I assume she started advertising a month or so before the last tenant vacated?

I'm also assuming you're asking reasonable market rent, and the place is in good condition from a renters perspective.

 

[skater]

I agree with all the above comments. It will be much easier to find a tenant if the PM is local as most tenants will just look in the local area.

 

[cgw]

Whew, yes I finally got a new tenant. I did ring a few locals and they agreed it was too long. One PM said the problem with PMs who live more than 5-10 mins away, will have open inspections at set times, and they will not show it to anyone who cannot make it at that time. I am going to change to a local PM, but I have to give 60 days notice. So I will give it a few weeks and find another one.

 

[Pablo]

CGW,

Why not try Xenia her offices are in the port. I have not used her company but she seems more than competent.