Can having a good PM sway your decision to purchase more in that area?

[S.T]

Has anyone been inclined to purchase more property in an area where they have a good PM?

Just one of the factor's I'm considering at the moment when I look at a new purchase. Of course the deal still has to stack up compared to other area's that you're researching. But I am interested in how much of a factor this is for investors.

 

[TMNT]

Has anyone been inclined to purchase more property in an area where they have a good PM?

Just one of the factor's I'm considering at the moment when I look at a new purchase. Of course the deal still has to stack up compared to other area's that you're researching. But I am interested in how much of a factor this is for investors.

yes, an area I was looking at the PM said that their agency who does most of the rentals in that area are looking to clean up teh area, and are actively pushing to put in only the best tenants,

this quite impressed me, so I made more of an active effort to buy in tothis area

 

[jenni_nextplace]

No not at all. A few reasons for this.

Generally PM's tend to change jobs quite a bit, so even if you find a good one chances are that in 2 years time they would have moved on.

A PM can be allocated different portfolios within an agency, so just because they manage one of your properties now they might not be managing your property in the future.

As rent rolls grow, PM's management portfolio can change, they may hire an assistant to take over some of the work or may hire a new PM and split the portfolio.

Also a good PM can turn bad, and not due to their own fault. They may have their portfolio of properties increased without any support and can't provide the service you were previously used to.

To me its all about the property and its figures.

 

[Scott No Mates]

As above, a PM (even if they are the licensee) can move on so you may get stuck with a poorer PM outcome but that's life.

If you are happy with the performance of a property in an area, then the next one in the same area should be considered but has to stand on its own feet.

 

[PrimeProperty]

Jenni has nailed it above! whilst a good PM is important in ensuring that your investment maximizes its potential,The property and it's match to your investment criteria are the most important things. With a little research I am sure that you will be able to find a competent property manager that services your chosen investment suburb.

 

[Piston Broke]

Yes. All other factors being equa

Unlike Jenni you gotta learn to weed out the rookies

 

[S.T]

Thanks for the replies all, Jenni you raised some very good points. I'm very happy with current PM and signed up with them due to the manager at the agency, thinking she would be managing my property - but she wasn't and was happily surprised the PM she gave my property too has exceeded expectations. this could be a good sign even if they do move on that the next one will be as good if well managed.

Anyway, thought just came up as I was originally looking at other areas for my next buy so it might be a combination of;

1) Area I know well
2) I know I have a good PM ready to look after if I buy
3) Macro level the area is still a good buy