Is this what having a property manager is like?

I don't know what's going on, it's not the PM's at all!

There's something going on with my email. The PM's do still work there, I've sent them messages before, but for some reason they are coming back as undeliverable.

Taht's hpapened to me bfeore .... :)
 
I've been with a few large property management companies and it does become less personable...not one person knows your property inately. And no one can make a decision on anything without shuffling it around a desk for weeks. When there is a major matter, no one wants to accept responsibility for it...

I believe small is better.
 
I don't know what's going on, it's not the PM's at all!

There's something going on with my email. The PM's do still work there, I've sent them messages before, but for some reason they are coming back as undeliverable.

Its the weird n wacky web :confused:
 
Terrible!

I do get an email about every 3-4 months from someone informing me that they're my new PM, I just hope they're getting younger and hotter!

Actually, I deliberately seek out older more experienced PM's. I steer clear of the young blonde bomb shells. I have found that their inexperience costs me lots of $$
 
Why don't you ask what their qualifications are?

It's a fact that this industry is littered with young inexperienced property managers....why don't you just ask them what their qualifications are?

I met up with a new owner a few days ago and he asked me, but I was willing to tell him what my qualifications are...guess I like learning, so I have a few :D a bit akward to list them all behind my name so I just pick out the main ones I think clients may be interested to know.

What's most important to back up the qualifications is the actual mind set of the property manager - Does it align with yours? Can you benefit from it? etc...
 
Some older one's are also burnt out and are just plain sour/hate life. They do only what they have to between 9am - 5pm. "There is always tomorrow".

This is true too.

I think having young people in the industry is a great thing - i being one of them.

But in saying this, i think it's an asset to the employer being able to make a PM or Sales Consultant their "own". Therefore they are trained the way they want them to be trained.

Sometimes it doesn't always work like this, but when/if i decide to open up my own agency or another business i plan on training up young staff to do what i want them to do, rather than older people that are set in their ways. (Not always true, i realise)
 
but when/if i decide to open up my own agency or another business i plan on training up young staff to do what i want them to do

As someone who's done exactly this, there certainly are a lot of benefits to that type of recruiting model. It does, however, also present its own challenges. A balance, perhaps, may be the ideal solution.
 
Sometimes the older ones have less experience - just for the record.....

Absolutely. I actually seek out those who have a number of years in property management under their belt. I like it when I happen to strike an investor pm. In your case Lil Skater I would seek out your services as you have investment knowledge and an understanding of the investment process. So age as such is really irrelevant. I guess to date the couple I have found who are good, happen to be older people with extensive experience. But this aint always necessarily the case!


Maybe we should establish a data base of great pm's!:D
 
I like it when I happen to strike an investor pm.

In your case Lil Skater I would seek out your services as you have investment knowledge and an understanding of the investment process.

Maybe we should establish a data base of great pm's!:D

Lol! I'd much prefer a PM who invests too, they will understand (in most cases) the strife that many LL go through.

Well i'm going for a PM role :D :p

I think we really should - only problem with that is the naming names part - could get messy and i think this is perhaps why we don't have a database for it.
 
I rang around 15 property managers today. Might have been 20. Lots, anyway.

Not a single one of them would manage my house.

Its gone from being an expensive option to no option at all, which is a nasty strike for me against selling a tenanted house.
 
I rang around 15 property managers today. Might have been 20. Lots, anyway.

Not a single one of them would manage my house.

Its gone from being an expensive option to no option at all, which is a nasty strike for me against selling a tenanted house.

RE,
Why would they not manage your house?
 
Location, location, location. Same reason I'm having trouble selling it.

The fact that it is a 10 minute drive from a town crawling with property managers apparently doesn't mean anything.
 
I’ve worked for the third largest QLD Ray White office in QLD, on a quiet month we would be doing $30million worth of sales, down to small “boutique” offices and a multinational in Brisbane’s CBD, I can assure you the big offices, in my experience lack a more personal, hands on service.

How can you honestly agree that someone with 2000 managements can give the same attention across the board, as an office with 500, when most principals won’t hire more PM’s than sales staff.

I can’t say that’s true for everyone, obviously. However, my current office does nothing to grow their rent roll other than accept management transfers from un-happy clients who come from these “big guys”.

I think this is what's happening with me!! I wonder if it's the same office I'm dealing with. Months have passed and the water usage bills still not paid and they're asking for a discount on future water accounts as they have to top up the pool. I said "no" and asked "why do they have to top up the pool" a week ago via email, still no reply.

I'm not sure what's going on. I don't even know if tenants are receiving the bills. They've paid for only one water usage bill in over a year.

How do I change property managers. Does the new manager get file from old manager???
 
How do I change property managers. Does the new manager get file from old manager???

Invstor, have a read of your management agreement with the PM. It should state how you can terminate your relationship with them - which is usually through giving something like 14 days notice, provided the "exclusive" period has ended.

After you give the written notice, you can change all the bills to your new PM's name and address, or to your name and address if you are self-managing. The tenants will need to be advised where and how they should be paying the rent in the future. It can also be a great opportunity to inspect the property to signal to the tenants that a new PM or you self-managing means they need to pull their socks up as tenants.

Good luck!
 
How do I change property managers. Does the new manager get file from old manager???

In writing.

Read your management agreement and understand what the obligations are that the agents owe to you. If they have not satisfied all their obligations to you, you can ask to be released earlier.

If they don't give them notice anyway and seek new agents. Then once you have settled on new agents, advise the old agents that new agent will be in touch to collect all necessary documents.

The list I send and the information I get from agents is pretty poor. I had one ring me last week to go back to collect items that they had in their file which I had already asked at the handover....

Anyway, your new agents will handle everything else and you shouldn't have to speak with your current agents again.

That's how I normally work it because I get regular of transfers of new clients at the moment.
 
Possibly a silly question, but are you sure the agency is still there?

Good question,

My Rental Manager has folded, and I heard this from the guys who bought their rent roll.

This was two weeks ago.

The new agents have just told me that they are trying to take the others to court, due to certain issues they have had during the transfer.

This was an inner city Brisbane agency as well.

F
 
Back
Top