Corporate Property Managers

From: Robert Forward

G'day everyone

Just enquiring to those of you who rent your properties to companies through Corporate Property Managers.

How do you find them?
Are they useful?
Do they get you a good rent?
Do they look after the property?
Have you had any problems with the tenants (companies)?

Oh, also does anyone use one in Brisbane or know any names of ones in Brisbane? Just asking as I'm looking at different styles of investing at the moment.
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Reply: 1
From: Michael Yardney

We have a few corporate tenants in our properties, but they have been placed their by our normal property managers rather than a special corporate property manager.
This means the property manager is working for me - not the corporation or the tenant. Most large property managers tap into the executive market and the corporate relocations market.
I have had no hassles -they usually look for a better class property and pay a top rent.
They always leave the place neat as they probably have a cleaner paid by the company at the end of the lease.
For these type of properties we usually pay a gardener to maintain the property as the tenants usually can't be bothered looking after the garden and the company happily pays the extra few dollars a week for this service. We get a better looking property.
The only drawback is they often move after 1 or 2 years when the tenants work contract is up, but I haven't had a problem with vacancies.
Michael Yardney
Metropole Properties
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