Yep for sure.... And in return it's a win win for everyone as you become their client.
It's all about contacts & networking, developing good relationships.
Employ a project manager to do small unit reno ?
- Thread starter Alex P Keaton
- Start date
Yep for sure.... And in return it's a win win for everyone as you become their client.
It's all about contacts & networking, developing good relationships.
Yep for sure.... And in return it's a win win for everyone as you become their client.
It's all about contacts & networking, developing good relationships.
You learn fast grass hopper
Thanks for the encouragement
Glad to help....there's plenty of wealth out there in the universe to go round.
............
I did exactly the same.
Alex
Good luck trying to find a unit that needs a reno, every man and his dog has the same idea.
Carpet vs floating timber
Hi All,
My PM just called yesterday that the current tenant is asking for carpet to be replaced and wall repainted, and will pay higher rent. I agreed for that as it has been 15 years. It is a 2BR full brick unit, 15 yrs old. PM will give me quote and organise it while tenants still living there. She said it will take 2 days. It looks like a trend now for PM to look after straight forward reno.
Just wondering if anyone thinks that carpet is better or laminated timber? Does laminated timber takes longer to install than carpet? I am considering the tenants who still live there during reno.
Thanks.
Jolly
Hi All,
My PM just called yesterday that the current tenant is asking for carpet to be replaced and wall repainted, and will pay higher rent. I agreed for that as it has been 15 years. It is a 2BR full brick unit, 15 yrs old. PM will give me quote and organise it while tenants still living there. She said it will take 2 days. It looks like a trend now for PM to look after straight forward reno.
Just wondering if anyone thinks that carpet is better or laminated timber? Does laminated timber takes longer to install than carpet? I am considering the tenants who still live there during reno.
Thanks.
Jolly
I put down floating laminated floor boards in the living/lounge/family/hallway areas and carpet in all bedroom areas.
Agree with this and also the earlier posts about the agent managing it for you.
Also, I reiterate the managing and building effective working relationships posts, as this has led me to having a great agent that offers to inspect properties for me in a new state with a view to getting the new property as a rental.
The good service, and trusted advice of a property manager in Melbourne also got her another rental and is another good effective working relationship for me. I must admit they are both older experienced agents and speak and answer all queries and give advice with confidence, which in turn gives me confidence to make decisions.
I have friends who are the opposite, as they have agents managing and still get the tradesmen and do the follow up etc. and in person. I do everything in writing, on email, and with a few calls thrown in to save time with question and answers, all via the managing agent.
With the house - the first IP, I did all the renovations and family jumped in to help, inside and out. This is the one I learnt on. If I ever do an extensive reno again, I would give it to the agent in the relevant state to manage it. Most may charge a % fee. If you are trying to find a new agent, be prepared to ring around, ask leading questions and make a decision based on the quality of the responses. Quality agents do the simple things with minimum fuss.
As they say - "You make your money when you buy." I've found this to be true. Choosing correct properties is key. Get to know numbers & comparables. Don't be scared to be proactive and make decision before a problem arises.
Good luck with it all Alex and Jolly123
Got the quote now
Thanks for your advice impala67.
Hi Alex, have you got the quote yet?
I think my 2 br unit is about 65sqm internal space. Got the quote today for painting $2200 & laminated flooring 8mm with blue underlay $2550 (incl GST). Does this price sound good? And, now they also want curtain to be replaced.
Tenant is on periodic list and PM said that they are willing to pay $100/wk extra after all these 3 items completed. I'm just wondering whether PM could be held responsible if current tenants are not paying the extra$100 after renovation.
Thanks for your advice impala67.
Hi Alex, have you got the quote yet?
I think my 2 br unit is about 65sqm internal space. Got the quote today for painting $2200 & laminated flooring 8mm with blue underlay $2550 (incl GST). Does this price sound good? And, now they also want curtain to be replaced.
Tenant is on periodic list and PM said that they are willing to pay $100/wk extra after all these 3 items completed. I'm just wondering whether PM could be held responsible if current tenants are not paying the extra$100 after renovation.
Jolly
Get them signed to a lease at 100/w more if you want proof. Money where mouth is kinda thing.
More importantly, what do similar condition places in the area rent for? You should be able to get similar /more / less based on how yours compares. Based on this, not only can you determine what your finished product might rent for, but you can use it to determine whether your quoted prices provide worthwhile returns.
Get them signed to a lease at 100/w more if you want proof. Money where mouth is kinda thing.
More importantly, what do similar condition places in the area rent for? You should be able to get similar /more / less based on how yours compares. Based on this, not only can you determine what your finished product might rent for, but you can use it to determine whether your quoted prices provide worthwhile returns.
