Good property managers in Canberra?

Discussion in 'Property Management' started by AYK, 6th Aug, 2013.

  1. AYK

    AYK Member

    Joined:
    22nd Sep, 2010
    Messages:
    14
    Location:
    Canberra, ACT
    Need some urgent help, please! Does any one know a good property manager (s) in Canberra; preferably in the inner south (Griffith)?

    Not very happy with our current property mgt agency: no tenant for over 2 months despite many price reductions; no up-to-date or follow-up reports; garden left dirty from previous tenant; three managers within the agency over 1.5 years ... etc etc. Our IP is presentable and in a good location ...
     
  2. Jamie M

    Jamie M Mortgage Broker - Oz Wide

    Joined:
    20th Jul, 2009
    Messages:
    4,085
    Location:
    Canberra and Sydney
    Hi AYK

    Sounds like you've got a lazy PM on board.

    In Canberra, allhomes is the primary method of advertising rentals. Providing the price is right and the PM answers their phone - it should get snapped up. Two months is too long, especially in an established area like Griffith.

    Call up a couple of local PM's and ask their opinion on the current asking price for your property and suss out what their vacancy rates are like at the moment.

    Cheers

    Jamie
     
  3. AYK

    AYK Member

    Joined:
    22nd Sep, 2010
    Messages:
    14
    Location:
    Canberra, ACT
    Hi Jamie M

    Thanks for your advice. It confirmed our thinking. We have checked out some local PMs and identified and engaged a new one today!

    Cheers
    AYK
     
  4. Nic0

    Nic0 Member

    Joined:
    3rd May, 2005
    Messages:
    25
    Location:
    Canberra, ACT
    Good luck, I was getting 455 a week for a newly renovated 3 bedroom house. The tenant left and i had to drop it down to 380 before anyone was interested. As soon as i had dropped it down i had numerous applications.
     
  5. AYK

    AYK Member

    Joined:
    22nd Sep, 2010
    Messages:
    14
    Location:
    Canberra, ACT
    Hi Nic0

    Thanks. Our rentals dropped from >$720/wk (paid by previous tenant) to $540/wk (and still falling) by our old PM! We think our problem is that we had a lazy (or too much to do, couldn't care less) and unskilled/inexperienced PM. Their billboard was in front of our house for 3 months - free advertisement. It made us feel very sad when our investment was treated that way.

    We hope that the new PM is better. Will give updates. We should use this forum to identify good PMs.

    Cheers
    AYK
     
  6. AYK

    AYK Member

    Joined:
    22nd Sep, 2010
    Messages:
    14
    Location:
    Canberra, ACT
    Hi Nic0

    A short message to give you an update. Less than a few days after taken over our property, our new PM got two offers. The new rent is higher (and fairer) than the old PM’s. Just over a week or so she got a tenant signed off a twelve month lease!! Things are good now. :) We wish we had changed PM earlier; instead of losing two months’ rents. A lesson for us.

    Regards
    AYK
     
  7. Jamie M

    Jamie M Mortgage Broker - Oz Wide

    Joined:
    20th Jul, 2009
    Messages:
    4,085
    Location:
    Canberra and Sydney
    Congrats - it must be a big relief! ...and higher rent as well :)

    Cheers

    Jamie
     
  8. AYK

    AYK Member

    Joined:
    22nd Sep, 2010
    Messages:
    14
    Location:
    Canberra, ACT
    Hi Jamie M

    Thanks. Your advice on 6 Aug certainly helped.

    PS I visited your website - it looks great. Unfortunately I have a mortgage broker already for a number of years. But would revisit if things change.

    Regards
    Alice