Freaking out about not having interest

I hope you won't have to pay the PM any letting fee? And what's the plan for the ongoing management? This PM doesn't sound like she deserves your business.
 
They do not charge advertising fees only an ongoing mgmt fee plus 1weeks rent for finding a tenant. Since she didn't fond me one she gets nothing. I told her what you forumites told me to readvertise and put it on caps that it needs to say freshly painted on the ad. What did she do? Nothing just edit the old ad with "space for the children to play".

I am self managing and they can forget about getting a cent!
 
They do not charge advertising fees only an ongoing mgmt fee plus 1weeks rent for finding a tenant. Since she didn't fond me one she gets nothing. I told her what you forumites told me to readvertise and put it on caps that it needs to say freshly painted on the ad. What did she do? Nothing just edit the old ad with "space for the children to play".

I am self managing and they can forget about getting a cent!

Good for you.
Congratulations !!!
 
yep, I have had a flood of enquiries about my 'trashed' house from a free Gumtree ad. I have a pretty good PM, so just give them her phone number.
 
Hey jigglypuff, wahhh my property has dropped to the last property on their website. I had a look and yes I think that it is over priced. There are a number of similar houses at that price of $270. But I had that thought at the start anyway and I was wondering why she suggested $290. I thought she had the market expertise as they only specialise in that area.
I think me having these doubts are more to do with my confidence in the PM now than thinking that I will never get a tenant. :(

If i were you I would list at $260 just to ease the pain and get someone in then start to claw your way back up. Its always hard at 1st but hang in there it will improve with time
 
Hi Atsim,

PM has been fired, new great tenants in. I asked my other half if we should drop to $260pw with the PM. But I took matters in my own hands when my PM kept failing to do what I told her to based on the responses here and found a lot of interest for $270pw.
New tenants have paid up, communication is great and they are asking if they can trim the trees, plant stuff in the garden etc. Fingers crossed, was reading angela1's issue.

Thanks for your feedback!
 
Good for you L! Just make sure your lousy PM doesn't get paid a cent as she clearly did bugger all and was negligent in her advice about the listing fee.

Props for Mr Lamingtons -> i'm not the hard one and I let him deal with her when we picked the keys up. She said that all those opens that they did were a waste of time. He responded no, they were to allow you to find a tenant for us which you failed to do. You also recommended a tenant that clearly cannot afford the rent as her income was less than monthly rent :eek: and skimmed past this fact. You also failed to report to me how many people were coming through each inspection so we had to advertise privately.
Her lips quivered and kept saying it was the quiet time of the year. Fair enough but how come when I was at the open you held your agent was telling me how he had 8 groups at another property that you represented?
The way they worked is $ when they found a tenant. No adv fees for her. :) I hope she has taken her sign off or I will tell my tenants to use it in a bonfire.
 
Hi Atsim,

PM has been fired, new great tenants in. I asked my other half if we should drop to $260pw with the PM. But I took matters in my own hands when my PM kept failing to do what I told her to based on the responses here and found a lot of interest for $270pw.
New tenants have paid up, communication is great and they are asking if they can trim the trees, plant stuff in the garden etc. Fingers crossed, was reading angela1's issue.

Thanks for your feedback!

Great news , Im happy for you, ive been in your position and know your anxiety. just remember to win in this game you need to be in it for the long term, there will be ups and downs for a few years anyway. But be encouraged within 10 yrs your return will be at least $550 pw and value 75% to 100% higher. Good luck, not that you need it
 
Hello Lamingtons

It makes me so annoyed to hear of service like this and gives us property managers are a bad name. We are not all like this. Was she a fellow investor herself?

I am really pleased that it has all worked out well for you and was going to suggest Gumtree as an alternative advertising source for you but you bet me to it.

As a rule we advertise on this site with all our properties as well as realestate.com and domain.com and find it a very successful tool in our advertising.

I hope the rest of your investing joinery is successful and not to be put off by this minor hiccup.
 
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