Getting a rental property valued???, here's a hint.....
...when you apply for a loan/refinance and a valuation is required you need to leave contact details for access to the property. My hint is .... don't just put down the nunber and name of the property manager and leave it at that.
Last week, I had a real busy week. I went to 3 rental properties where we had contacted the property manager and they had said the tenant would be in.
Guess what? At two of them the tenant knew nothing and I had to go back again. On a third the on the ball PM also said that the tenant would be in ... the property was still vacant! - A few days later when I turned up the PM's assistant was not there but waiting at a house elsewhere in the development... two tenants that were waiting to view the property drove off .. I eventually tracked clueless the idiot down.
A valuer only gets one chance to sell that hour of his life, if the tenant is not there s/he has lost an hours income. .... and the owner wants the valuer to push the valuation as far as they can........
I suggest that you call the PM and tell them to have someone meet the valuer, tenants are pretty unreliable even if they are actually contacted by the PM ... Also I have found that tenants are usually keen to point out every little fault with the place to the valuer!
Of course not all tenants are like this, there are a few that are reliable ... the same also goes for Property Managers ... well not a few, a couple maybe...(most in my experience are 25 year old dissinterested debt collectors ... hoping to get into the big money ... sales)
Remember no one looks after your interests like you do .. but try and make sure that the person you are paying to look after your interests actually makes a bit of effort.
cheers,
RightValue
...when you apply for a loan/refinance and a valuation is required you need to leave contact details for access to the property. My hint is .... don't just put down the nunber and name of the property manager and leave it at that.
Last week, I had a real busy week. I went to 3 rental properties where we had contacted the property manager and they had said the tenant would be in.
Guess what? At two of them the tenant knew nothing and I had to go back again. On a third the on the ball PM also said that the tenant would be in ... the property was still vacant! - A few days later when I turned up the PM's assistant was not there but waiting at a house elsewhere in the development... two tenants that were waiting to view the property drove off .. I eventually tracked clueless the idiot down.
A valuer only gets one chance to sell that hour of his life, if the tenant is not there s/he has lost an hours income. .... and the owner wants the valuer to push the valuation as far as they can........
I suggest that you call the PM and tell them to have someone meet the valuer, tenants are pretty unreliable even if they are actually contacted by the PM ... Also I have found that tenants are usually keen to point out every little fault with the place to the valuer!
Of course not all tenants are like this, there are a few that are reliable ... the same also goes for Property Managers ... well not a few, a couple maybe...(most in my experience are 25 year old dissinterested debt collectors ... hoping to get into the big money ... sales)
Remember no one looks after your interests like you do .. but try and make sure that the person you are paying to look after your interests actually makes a bit of effort.
cheers,
RightValue
