Is my manager being lazy? Or am i to high maintenance?

[thetom]

Hi everyone,

I am still very new at this. I finally purchased a property and have found a property manager to rent it out for me.

My question is how involved are property managers supposed to be?
And when do they give you updates?

Since this is my first IP i pretty much want to know everything that is going on. The property had been on the rental market for a few days so i email to find out how it was going. I received an email back saying the tenants would be picking the keys up the next day. Does this sound right? Do i not have to screen the tenant or is that the PM's job?

Cheers Tom

 

[Sez]

You should get last say in who rents your house, they should run all applications by you to decide.

I contact my landlords with vacant properties after each open and once a week just to let them know how many enquiries I've had, if there are any applications and how they are looking etc.

Every property manager is different but if you're not happy with the service you're receiving with this property manager then talk to the department manager and see if you can get a different manager in the office. If you're still not happy then it's time to change agencies!

 

[Peter_Tersteeg]

You may be going a little over the top, but for a first time investor this isn't unusual or unexpected. If the PM things you're going over the top they should let you know (in a nice way, just keep your pestering nice as well)

PS. You might be high maintenance. My wife thinks I'm high maintenance because I don't like raw tomato.

 

[thetom]

I guess the service has been ok. I just wasn't sure what to expect (i didn't want to ask more than what i could). The fact that the manager was able to rent the property in a few days for more rent than i was expecting is a good sign though. I guess i will just have to keep on top of it.

 

[DavidMc]

Generally speaking my better PMs do an open or two, get all the applications, pick the top 2 or 3, give me a call and talk me through them all and I pick the best one.

I usually go with the one they suggest anyway, but it's nice to have the final call.

If it rented quickly and for more money, I'd say you're doing well. Some landlords might prefer this 'low involvement' service?

 

[russellpeter]

The owner should screen all applications and have final approval

would you be happy if they put 5 students into the property?

 

[Colin Rice]

would you be happy if they put 5 students into the property?

At $200/week a room, YES!!!

 

[Player]

I guess the service has been ok. I just wasn't sure what to expect (i didn't want to ask more than what i could). The fact that the manager was able to rent the property in a few days for more rent than i was expecting is a good sign though.

Not always. Unless your property has something unique that increases its desirability (such as in a desired state school catchment) the people that offer more than market or more than you anticipated might just end up being recalcitrant rat bags. I don't wish to alarm you. They might be ideal tenants who respect your property and treat it as their home, however be aware that sometimes they are not so desirable and a quick letting for the property manager sometimes takes priority rather than getting the right applicant. Share housing and more residents moving in without your consent is a common feature of those who pay more...........and that assumes, they will keep paying


I guess i will just have to keep on top of it.

Yes, you will. Let the PM do their job however when it comes to the letting I would respectfully suggest you have the final call. It's not the PM's property, it's YOURS !!!

I have numerous PM's throughout the eastern states and not one makes the call to accept a tenant. I let them bring me an acceptable application and once my questions/concerns have been answered satisfactorily, I make that decision.

It would serve you well to do the same, Tom

 

[brahms]

Generally speaking my better PMs do an open or two, get all the applications, pick the top 2 or 3, give me a call and talk me through them all and I pick the best one.

I usually go with the one they suggest anyway, but it's nice to have the final call.

If it rented quickly and for more money, I'd say you're doing well. Some landlords might prefer this 'low involvement' service?

Pretty much my experience as well, as a LL i'm not interested in going thru a small pile of app's, that's what the agent does. Usually its just one app that fits the bill, so i'd think a phone call with the basic details for the lease is all you need - its certainly all I've ever expected.

If there are any areas of negotiation obviously the agent will refer it to you, otherwise the less you need to do the better.

In all it seems your PM has done a proper job, pat yourself on the back too as you've done a great job

 

[Bats]

Although based in Perth we have a couple of properties in NSW which have both been through the vacating/reletting process a few times, and we find that the NSW PMs commmunicate a lot more to us than the local WA PMs.

Although they leave the final choice to us, we have always gone with their recommendation anyway.

Our view is that we are paying them to do a job and we should let them do it - we are however aware of lease expiry dates, reimbursement of water consumption and the like --- just in case.

 

[Damien Cox]

We have a couple of overseas landlords that have given us complete control over the tenant selection process but that is far from normal.

You should always have the final say in who rents your property. After all, it's your property.

 

[PrimeProperty]

Communication is the key to any successful relationship between an investor and a PM. If our clients are having to contact us to find out what is happening with the leasing of their properties then our systems have failed.

It is the agents job to screen applications and then communicate their findings to the landlord and then to make a recommendation. However, the final choice should be made by the landlord.