Looking for a particular type of tenant

[georgie1]

Hey

Just wanted to ask a quick question. I manage my own property but use property managers to find the tenant and pay them a leasing fee. I am looking for Real Estate Agencies/Property Managers that specialise in finding properties for tenants who are workers for international companies who come to work here for 3-6-12 months then move back.

Does anyone know of any such property manager or business that specialises in finding rental properties for internationl workers? I would like to register my property with these property managers or agencies and pay them their leasing fee.

Any help would be much appreciated.

I am based in Sydney, Inner West.

 

[Scott No Mates]

They don't wait till they land here, all loose ends are tied up before they buy their ticket.

 

[wylie]

With one IP we have that is a high end house, I was approached by one of the placement agencies. I met the lady at the house with the wife of an executive who was arriving soon.

I cannot recall the name of the placement agency, but you should be able to find one if you google about a bit, or call a high end recruitment agency. Those agencies should know who it is that searches for accommodation for incoming executives.

Interestingly, this executive's wife was the pickiest person to see the place. She wanted us to replace the perfectly adequate side fence to one more to her taste and requirements. I was sent an A4 page of changes she wanted made in order to pay the rent we were asking, which was not stupidly high, and had in fact dropped by $100 a week from the appraisal because finding tenants for this house is way more difficult than a regular "for the area" house.

We decided very quickly that we were not playing ball with this woman. I have no idea where they rented, but I feel sorry for the landlord. She was one hard nosed piece of work with expectations much, much higher than the rent she was being asked.

 

[georgie1]

Ahhh thanks for that, the placement agencies is exactly what I am looking for. Sorry to hear that you didnt have the best experience with one.

Does anyone know the name of these placement agencies?? I did a quick google search but all I found was recruitment companies.

 

[kathryn d]

We have several companies that place their emplyees in our properties.We always make sure the lease is not in the Company name, but in a person's name. Something to do with being a residential lease.

Do you do the same? Has there ever been an issue with having the lease in a company's name?

 

[mattysavager]

One of the big names is Crown Relocations. They are a moving company but also do a lot of corporate relocation consultancy. That's the company I have had the most experience with.

The agents who do this are usually very particular, and use realestate.com.au and domain to search for their properties, so i am not sure how much success you will have in contacting them directly. They search for properties all day, so know what they want.

Good luck.

 

[mattysavager]

PS-

It sounds like you are looking for a property manager who only rents to corporate clients. I am not sure if these people exist. The company I suggested act on behalf of the tenant (like a buyer's agent) and the tenant pays them a finders fee. You don't get involved in their process at all, you may just suggest your property as a potentially suitable one to inspect.

What you want seems to be an agent who will let your property only to business people on short stays? Is it furnished? For that to work - It would have to be furnished to attract the tenants who are short term but want something cheaper than a hotel for 3 months. Usually this type of short-medium term stay is organised by an on-site management crew. Usually the types of properties that the business tenants want are very modern, with on-site services, and these units usually have an on-site manager who can source the tenants.

You might have some luck by calling local holiday letting agencies and office they won't do it, they might have some recommendations.

Cheers.

 

[tom32]

They don't wait till they land here, all loose ends are tied up before they buy their ticket.

you must work for a pretty organised outfit. We move ours out here into furnished short term stuff and they then work out where they want to live.

Did you see that other thread on meadow springs... If it was up to me I would put all mine down there but unfortunately they don't like you picking for them...

 

[Jas]

You might want to try looking at this from the other end of the equation. Have you thought of seeking out the types of companies you think would be likely to use such a service? Maybe it would be worthwhile to have a conversation with someone in their HR department. I'm sure they would be able to give you contacts to call.

Jas

 

[frini]

We have several companies that place their emplyees in our properties.We always make sure the lease is not in the Company name, but in a person's name. Something to do with being a residential lease.

Do you do the same? Has there ever been an issue with having the lease in a company's name?

I have a tenant application with someone working for a ASX200 company, They want to put the lease in the company they work for, as the company will be paying the rent (over $3000 per week)
I am very hesitant about this... what if they lose their job ? what if the rent doesnt come through, or their is damage to the property....who do I chase?

Does anyone have any experience with renting to company executives ?

 

[mattysavager]

I would insist that the lease is in the name of the person living in the property.

It is not that "company" that is living there, even though they are paying rent.

Could be potential insurance issues

In this circumstance, I always put the lease in the names of people who are living inside the property. After all, I don't care who is paying the rent as long as it gets paid.

If they want the lease in the business name, then aim to have both the companies and the man on the lease as co-tenants or guarantor. Get a signed guarantor letter from the company, that states that the rent will be paid by the company, for X amount of months, for the tenant 'John Smith' etc.

Either way, you need all the application details, ID, proof of income etc of the actual tenant so that if things go pear-shaped, you can show that you have done your due-diligence.

 

[shaleejam]

Hi, we are expats who travel around a lot. We don't always use a relocation company so perhaps you could also register interest with some larger companies who relocate staff for expat assignments?

We prefer leases in our company name as we feel more secure if something were to go wrong however I can understand why a landlord would feel uncomfortable with that and our current landlord insists the lease is in our name.

I am also not at all surprised by Wylie's experience. When we moved to our current area we were given a list from another expat Australian on "tips on what to ask for in your new rental" It had everything on it, from new air conditioners, landscaped gardens, kitchen and bathroom refurbishment. We would have been so embarrassed to ask for half the things on the list, especially considering they were not repairs or even necessary.

When living in a European city one Australian wife refused to live in a home that had anything purchased from IKEA and insisted on proven quality furnishing only.

I think you need to be prepared for a certain style of tenants when dealing with expats though; not all are like that of course - apologies to any expats offended by that comment but it's easy to be picky when you have a large rental budget and you don't have to pay.

 

[womble66]

i rented my new ip out in 2010 to a couple from the UK who just Google'd the major regional location and ended up finding it through a listing on my PMs website so listing with experts in relocations is not always required.

At first the tenant wanted me to reserve it for about a month but I declined so they offered rent from that day which worked out ok as it took them three months to get into the house (furniture delayed in transit) as they stayed in serviced apartment for a month. only prob was once they got here they fell in love with the area so bought at the end of the lease. i don't think cash flow was an issue.