New Pm Service In Perth

[deniset]

Hi all,
I am new to this forum and just wanted to introduce my new business to all those Investors in Perth.
Being an investor myself, and a licensed Real Estate agent I believe there is a huge need for a new concept in PM.
I offer a Professional P M Support Service specifically for DIY Landlords. It works on a pay as you use basis with NO % Management Fees. I do all the legal, technical stuff and set it up so that you seceive the rent into your account each week, not at the end of the month! While everything is running smoothly you are fee free, but if you strike a problem I am here to solve it for you. You can choose to do your own routine inspections and save money...or not!
All my clients receive a comprehensive DIY Manual to guide you, and free online backup to answer all your questions along the way.
I am happy to just find you a tenant....evict a problem tenant....deal with Bond disputes....represent you in court (heaven forbid!!)..or fix anything else that could possibly go wrong.
You can have as much hands-on contact with your IP as you feel comfortable with and I only charge for whatever services I perform...not just for the privilege of having you on my books.
If you would like to know more please email me [email protected] I'm sure many of you could save loads of money and frustration by taking control of your IP (with backup when needed)
Have you worked the figures on the difference to your mortgage at the end of a year if you receive 4 payments a month - instead of 90% of 1 payment at the end of the month?? You could be surprised
I hope to be able to help many of you be happier and wealthier, soon

Regards,

Denise

 

[duncan_m]

This is a neat idea.. what are some examples of the costs that might be involved?

 

[deniset]

Hi Duncan,
Thanks for your interest.
To find a tenant - I charge 2 weeks rent to you and the normal 1 week letting fee to the tenant....GST incl - Most agents will charge you 2 or 3 weeks rent PLUS GST and the week from the tenant is reimbursed to you.
Included in my price - photographing your property, listing on the REIWA website, interviewing prospective tenants, background checks on applicants, run thru the National Tenancy database, write up airtight lease with rent paid either WEEKLY OR FORTNIGHTLY DIRECTLY INTO YOUR ACCOUNT, lodge Bond on your behalf, and provide you with a comprehensive DIY manual to guide you thru almost any senerio, comes complete with templates for inspection notification leter, breach notice etc. You will also receive unlimited email or phone backup. If you strike a problem you don't want to handle for whatever reason, then I will act for you...strictly on a pay for service basis.
No fees for Postage & petties or % Management fee

Full Property Condition report - cost will depend on size of the house but rule of thumb is $220 for a 3x1 and $330 for a 4x2. This includes a very comprehensive written report supported be digital photos, formatted to a legally acceptable standard...will never be challenged in court or by insurance if things go wrong...I also supply you with a copy on disc so you can easily update it yourself when tenants change instead of paying to have it done all over again.

I am fully licensed, insured and have 10 years R/E experience - managed large rent rolls for high profile Perth Agents, full member of REIWA

If you have specific needs or requests please email me, hopefully I can help you.

Regards,

Denise

 

[Ricardo29]

can u find me, an intending tenant, a place to live ??

 

[deniset]

Sorry Ricardo, I can't really work that way....you are best to contact all the local agents in the area where you want to live. They may take your name to put on a waiting list.
Other than that, keep your eye on the REIWA site where most agents advertise props to let.
Good luck, I know it isn't easy at present.

Denise

 

[geoffw]

can u find me, an intending tenant, a place to live ??

Or there may be a memeber of the forum who has a property to let, who would like to self manage with Denis's help?

 

[Peter 14.7]

can u find me, an intending tenant, a place to live ??

Ricardo,

Why not post in "buyer beware:" section your interest in leasing in Perth?

Reverse Engineer it.

List what you are after and ask them to PM you.

It should work and your reputation is more know through posts so it should be bonus?

Peter 14.7

 

[kph]

can u find me, an intending tenant, a place to live ??

Ric,
What are you looking for and where do you want to live.?
Have a new place down Rockingham way that we are undecided whether to rent out or sell...
PM or email if you want more details.

kp

 

[kph]

Denise,
Are you registered with REBA as a RE business ?

Its an interesting concept you are proposing, that may have some potential for someting I am promoting as a building service to investors.

Also, I thought the legislation only allowed RE agencies to charge a max of 2 weeks rent + gst as a letting fee to the landlord of which 1 week is recoverable from the tenant ( tenant does not pay gst) ?

Was just wanting to clarify where you said some agents charge 2 to 3 weeks rent as a letting fee...

kp

 

[deniset]

Hi KPH

Yes I am fully licensed with REBA (Triennial licence since 1999) and a full member of REIWA also have full Prof Indemnity Ins as required by REIWA.

The Residential Tenancies Regulations (1989) actually states that letting fee
for a fixed term :-
a. for a term of not more than 1 year, the maximum fee is 8.5% of the gross rent for the term of the lease
b. for a term of 1 to 3 years, the maximum fee is 8.5% of the average annual gross rent for the term.

So this means that we can legally charge much more than what I have quoted.

eg. on $300pw x 52 weeks - annual rent $15600 so 8.5% fee would be $1326
and then GST would be added to this

I would charge the Landlord $600 and the tenant $300 all GST incl

A large co. a worked for in Sth Pth was charging 2 weeks + GST to the landlord, 1 week reimbursed by tenant for 6 mth lease and
3 weeks +GST, 1 week reimbursed by tenant for 12 mth lease.

Hope this is of some help

Denise

 

[kph]

Certainly does clarify.

The only thing I would add, is that all fees are negotiable in WA under the legislation as well.

Its an interesting concept and worthwhile idea you are promoting imo.
Can I ask what made you decide to proceed down this track ?

And also, with the full licence and reiwa membership, do you also handle sales (with a twist on the comm. rate for eg) ?

I reckon the industry in WA could do with a shakeup and a few alternatives to the standard service that is currently offered.

kp

 

[deniset]

KPH,
It certainly is true that fees are neg but I don't know any agent that will offer any PM service without tying you into a Management contract. They have no interest in helping people managing their own properties.
Having managed a large rent roll for a high profile agent for the last few years the need for a bridge between the service offered by agents and DIY landlords became obvious.
That is why I am now offering this service. I no longer want to work full time as I am doing my first development project and looking for further properties to invest in and just want to work on a casual basis offering something I believe there is a demand for.
And YES I am able to sell and will consider this option as well. It is not my primary focus but I have sold for about 7 years and know how it works.
I am not about to go chasing listings but if I have clients who want to sell I will certainly negotiate a very competative comm.
I am on this forum to learn from others involved in RE investment, just the same as everyone else.

Denise

 

[kph]

Hi Denise,
My take is that you are onto something that will work for Perth, but as a pioneer you will cop your fair share of knockers ( specifically from the 'industry').
See what happended to ANREPS when they started to get a few signbaords up on properties in the early days..... all the negative propoganda and paid advertising in the press to try and shoot them down.

They're still trading, so I guesss their success was based on the integrity of the people who offered the service and delivered what they promised.

What you are offering definitely has a niche for those who pefer to self manage but could really do with the initial screening and finding of the tenant.

One query I would have is what sort of area can you service?? eg whole of the metro. or specifically north or south, or..... ??
And how would you overcome the logistics of showing properties to prospect tenants if they were spread far and wide ( ie...lock box system, or just lots of travel)

Its a great idea and I reckon it will take off..

kp
(Prospective landlord /client)

 

[deniset]

Thanks kph,

It's nice to get positive feedback.
At present I am happy to service anywhee in Metro area...yes with lots of travel.

If things take off in the next few months I will open an office in a central location and employ a couple of people to specialise in Nth / sth.

The travelling is not such a big deal now, when I have a prop to let I try to set a viewing day in advance so that everyone can come at the same time.
With rentals being in such short supply, its a matter of be there or miss out..harsh I know but that is the reality of the market.

If someone sounds really good and has great refs etc I would certainly make an exception, if need be. Most pf the checking etc is computer based, so most of my work is done in the office.

I'm not looking to create a monster and upset the industry...this is just a part-time interest while I pursue other investment opportunities, but then again that focus could change if this took off.

Denise

 

[obiwan]

Rental Income

Are you able to suggest/help with expected rental income in a particular area.?

 

[deniset]

Now worries, Obiwan I can certainly give you a realistic ballpark figure.