Is this a good property manager (for a property owner, not tenant)

[neK]

Im currently renting a unit and I've found the property manager im dealing with (from a tenant's perspective) to be fantastic.

He's kept me up to date with issues, organised repairs, even suggested things be repaired (that I didnt even notice), he even gave me a follow up call to see if I was settling in well and if I had any problems.

I also had to get a swipe card (only supplied me one when i needed two) which cost me $100 and I asked for a reimbursement. He said he would need to check with the owner, but got back to me within 24 hours with an answer.

So from a tenant's perspective, i think he's pretty good. But what about from a property owner's perspective?

To me, it sounds like he does his best to keep the tenant happy, which in my opinion means a happy tenant (who has issues addressed quickly) will stay happy and complain less.

Whereas a tenant that is ignored, will get annoyed and start nit picking every little thing, causing a property owner more grief simply because their initial requests were ignored.

Do you people agree? Or should a property manager be more tougher?

Reason for the question is that my friend is looking to rent his place out in the same area and is looking for a good property manager.

 

[SeafordSunshine]

Good Property manager!

Dear neK,
from an investors point of view, this person sounds great! An individual with an eye for detail, and a personable manner!
Unhappy tenants = Turnover of tenants =costly, = wear and tear =cant sleep worrying about money= etc=
Keeping the tenants informed of their rights and responsibilities and actively demonstrating the landlords' seems really pro active to me.
I think this is the kind of property manager who would maintain the value of an investment, and instill confidence in an investor!
Suggest your friend to interview them first, (and a few others as well) because they have to 'get on' with them as well, check their fees and charges, what do they do in an emergency, how often do they go to the tribunal? and understand all the small print in their agreement. Tell them don't be afraid to take home the agreement, read through it, and ask a few questions. (Even if they know the answers), just to see if it takes 24 hours or a week to return the query)
Cheers, and best of luck too
SeafordSunshine

 

[boods99]

To me, it sounds like he does his best to keep the tenant happy, which in my opinion means a happy tenant (who has issues addressed quickly) will stay happy and complain less.

or...in most cases when the PM is a pushover, the tenant will always just "try it on" first, followed by the almost certain capitulation by the PM...

thumbs down from me...

Boods

 

[Peterw]

My I offer an agents perspective. We know we are engaged by the LL, and that is where our duty lies, however the tenant is our customer, and maybe one day a future client, LL, so we treat them respectively, and we have KPI's to follow, which include the timing of responses and dealing with requests. May I say, please do not connect, speed of respones , to speed of caving in. I believe quite the contrary, the quicker you get back to people with a "this is what we attend to and this is what you attend to " discussion, people read you as "knowing your stuff". Delay, and they may get a different view. The best relationships we have with LL's is where the communication is "correct" to the individual. I am sure you have had similar experiences, you ring some one to tare strips of them, and next thing you both say " I thought you meant .... etc, and from there we have ended up having the best relationship. Remember, people, cannot fulfil your expectations of then if they dont know them. Any way my view a team effort is the best approach.

 

[travelbug]

even suggested things be repaired (that I didnt even notice).

I don't want him managing my properties thanks.

 

[Lil Skater]

From another agents perspective as well as in investors and tenant:-

Agents - It's great that an employer is helping out and doing a great job and seems to be on top of things, but sometimes I do wonder whether it's just a "honeymoon" type period, only time will tell. Plus, I also wonder how their time is being spent, after all the LL is the client, yes we wouldn't be making money without a tenant in the property, so it's always good to keep them happy but the LL is our priority. I know as an agent I do speak to the tenants and build a rapport with them, however when it comes down to it, the LL is my client and I will always work for them as they are my employer and have taken me on as their employee. I know one of the girls I work with is very orientated to the tenant, which makes me cringe at some of the things she says, like "Don't worry if you were kicked out of your last place for not paying your rent, simply don't put your name on the lease, we'll find you a house." Umm, no, that's not how it works.

Investor - Picking up maintenance that you didn't notice is a no, no, in my perspective. I would not like my PM to be asking for cash every week, they work for me and are not there to cater for a tenants every desire. For instance I had some Tenant come in today to say that a light cover had smashed because it fell, I asked was it the light fitting that has become loose or the cover. Sure enough just the cover, am I really going to bother a LL about fixing a light cover, no. I looked in the system and told them (yet again) that the LL is going to renovate and will not be fixing minor maintenance issue, then came the reply, "oh, but I need the light cover."

Tenant - It's always great to be appreciated, but I don't like people bugging me every five minutes to ask how I am, sure it's nice sometimes but then it just becomes a bother.

So with all this in mind, I don't think i'd be sending my business there because the manager seems to be too tenant orientated - Although you never know, he could be exactly the same with the LL.

 

[Player]

No thanks

The business of real estate investing and property management is by and large a "relationship business". The resi IP is the commodity.

It is different with commercial as leases and the variable wording(s) run the show. With assets that have large corporate tenants, it becomes less personal. With smaller CIP's especially retail shops with "mum and dad business owners", it skews a bit more toward resi management as the lease is softer than offices and industrial.

Anyway back to the topic at hand here...............I consider that both the tenant and the landlord are the customers. A competent PM will balance needs and expectations both IMO.

Pandering to the tenant and proactively suggesting things are repaired (UNLESS SAFETY ISSUES are relevant) without any tenant notifications is nonsense.

 

[Amadio]

even suggested things be repaired

It's interesting that this is being picked up as a negative.

Why is it that owners will keep maintenance up to date on their own homes but on their IP's it's just tenants having a gripe. If repairs to properties are not kept up they fall down. Simple.

We've been owners for yonks - then renters, so we will now always see a property from an owner's point of view.

In each of two properties we have rented we pointed out some minor issues that we could see becoming major if they weren't repaired. One was a rotting door frame in an old Victorian, and one was a crack in the tiling on a second story balcony on a property in QLD. Rain didn't run off but in.

Both PM's and owners weren't the slightest bit interested in doing the repairs.

The door of the first property fell in during a storm - major expense to fix because of everything it took with it. The verandah of the second property started rotting through from the inside to the extent that the whole thing caved in and had to be re-built.

Classic stitch in time stuff...

Back to the OP's question. As an owner I'd go with this PM.

 

[boods99]

It's interesting that this is being picked up as a negative.


Back to the OP's question. As an owner I'd go with this PM.

Its a negative insofar as they are recommending things be fixed to the tenant, not the owner, who unfortunately is the one who must stump up the green...

You can have them!

Boods

 

[Lil Skater]

Why is it that owners will keep maintenance up to date on their own homes but on their IP's it's just tenants having a gripe.

I think it depends on the type of maintenance. The things you have picked up had potential to become much worse and sure enough they did, however, if the PM is going through the property and nit picking about small issues such as a small hole in the wall from a picture hook, that's when it's not any good - Plus you picked up on the issues, not the PM.

I know when it comes to myself I take care of others belongings much better than mine. I never got my car serviced, it died, but my parent's car I service regularly, because I don't want it to die.

Also in some cases it is as simple as tenants complaining about small issues - Such as the light cover I mentioned before. Other times the maintenance does need to be carried out, such as a hot water service breaking down and other such repairs which are covered in that states Tenancies Act, which are obviously maintenance issues that need attention from the LL.

 

[skater]

Another "no" vote from me. I don't want my PM telling tenants that there is extra maintenance needed. I don't mind if they mention it to me, and if it needs doing, I'll do it, but I won't do silly stuff that the PM thinks should be done as an extra.

This sounds like a PM who would baulk at rental increases to "keep a good tenant". I don't agree with that either. All my rents rise with the market.

 

[Olive]

had enough of tenant pleaser, a big no for me!

 

[elsLan]

I think it's important to be proactive and have a preventative approach to stopping problems before they become an issue for concern or the dreaded C word- Compensation.

I think it's important to have a PM that is friendly and approachable and gets along well with your tenants, while also being firm and assertive when acting upon your precise instructions. You don't want your PM to be a pushover, but then a good manager knows how to interact with tenants, the landlord and everyone in between. It's really about knowing you as the landlord and how you wish for your property to be managed.
Some landlords will probably like everything perfect, others see an IP as an income source only and let it run down (and then sell at a cheap price for me to pick up and revamp! LOL)

My PM gives me a report of any maintenance noticed when she does the routine inspection with photos of the issues she is referring. Along with her recommendations I then decide to fix or not repair.
I usually fix small items that are not an issue all at once when and if a tenant vacates- as it is important to not let your IP deteriorate or 'let it go' just because you don't live in it.
I can usually plan ahead and time line issues for repair when I am in a position to do so.
Anything urgent or essential is repaired on the same day- with a follow up from my PM and photos for my file! (Brilliant!!)

I would go with this PM but with some strict owners instructions on who is to be informed on the findings and how I would like my property to be managed.

 

[kathryn d]

He's kept me up to date with issues, organised repairs, even suggested things be repaired (that I didnt even notice)
.

Wouldn't want this PM either.
Our supers always say they will pass along the request.They certainly never offer to repair anything..as they are the ones who will be doing it.It is included in their monthly wage.The less they have to do, the better for them.