Frustrated With Property Manager

[bawley]

I have had a dissatisfying phone call to my property manager today. My statement for this month showed a shortfall (a small one) in payment from tenant. So I followed this up and asked AGAIN (3rd time) for a copy of the new lease from 2/1/05. She said tenant hasn't returned a signed lease. There seems to be no system in place for them to follow this up in a timely manner

When the renewal of lease was coming up I spoke to a member of the staff who told me cheerfully, Oh yeah they can just go month to month. (no consultation with me!!!!!) and I said - no - I want a lease. So I'm wondering if in fact they have even bothered to send a lease to tenant????

Is anybody else having these problems. When do you draw a line in the sand and replace property manager?

On the other hand, another IP of ours on the other side of the river (Brissy) is managed pro-actively. I received a very energetic upbeat letter (unsolicited) 6 weeks before lease renewal time - they strongly suggested that if the current tenants did not want to renew for 12 months ( turnover Jan peak time) she would give notice to quit and find new tenants. No shillyshalying. That the optimum strategy is 12 month lease Jan to Jan.

 

[quiggles]

Sounds to me that if your second PM is willing to manage both properties, that might be the way to go. give notice to the first, ask them to prepare to hand all documents etc over to the second and let them know why you are dissatisfied. (Strengthens your position and helps the other invetors still suffering).

 

[LearningMan]

Property Managers - just like every other profession in the world ... there are the good ones and the bad ones.

I'd say all Property Investors at one time or another have experienced the pain.

 

[Michael Yardney]

I f you are happy with your 2nd property manager go with him.

Today geographic location of the agents office is irrelevant. Most tenanst look on the internet, rather than walking into the agents office. Most tenants pay over the internet also so the proximity of the agents office is not critical if they are prepared to drive across town to do inspections etc.

Check out with your proactive PM if he is willing to take it on. If he is, he will do all the work of transferring management. you don't really need to do a thing.

If he isn't able to take it on, find a PM you are comfortable with.

There are some questions you could ask them at this link:

http://www.rentingmelbourne.com.au/html/s02_article/article_view.asp?art_id=109

 

[quiggles]

Today geographic location of the agents office is irrelevant. Most tenanst look on the internet, rather than walking into the agents office. Most tenants pay over the internet also so the proximity of the agents office is not critical if they are prepared to drive across town to do inspections etc.

That last sentence is key. They have to be prepared to go there frequently enough. some are barely prepared to drive around the corner.

 

[bawley]

Received an apologetic message on my mobile. PM said she contacted tenant, who apologised for the short payment, would rectify, and would return signed lease as soon as possible. I should receive copy of lease document early next week. So we'll see.

So.................PM has retained my business(for the moment)by the hair on her chinny chin chin.


Have taken all your helpful comments on board. Thanks.
Need some self examination re my avoidance of confrontation. There has been a history with this IP/management of sloppy service. So be warned Ms Property Manager.............

 

[Medine]

Hi Bawley,

The last time I changed one of my property managers it was because I just couldn't get a response (despite emailing, phoning and faxing) to a very simple questions. Luckily, one of my clients had raved about a property manager in the area. So I gave her a call.

She managed all the work, even advising the old managers that their services would no longer be required, picking up my file from them, getting new keys cut (the first managers had lost their set), and introducing herself to the existing tenant. The property came vacant just recently and was rented within 3 days - which is great for rental properties in Melbourne at the moment. I'm thrilled

I finally heard from my first property managers, who rang to find out why they had lost the business, after the new manager had been in place for about two weeks !!??

Moving on is not as hard as you would think!!

Cheers, Medine.

 

[Jacque]

Have taken all your helpful comments on board. Thanks.
Need some self examination re my avoidance of confrontation. There has been a history with this IP/management of sloppy service. So be warned Ms Property Manager.............

Hehe Bawley, interesting comment you make here, as I don't think you are alone in wanting to avoid confrontation. Most of us don't like it, but unfortunately there's going to be situations in our lives we we have to stick up for what we believe in! Have been reading a good book by an American counsellor (Wayne Dyer) called " Pulling your own strings" which I'm finding a great read. Gives you specific techniques for dealing more effectively with people in general. Some food for thought anyway. Took me two nights to read and made me think a lot