Onsite Managers as Managing Agents

[TMNT]

I must admit, not too experienced in complexes,

whats everyones take on getting the onsite managers to manage your property from a rental pespective

apparently all have a valid license, they have realestate.com accounts, their prices are reasonable, They would know your dwelling plus your neighbours all very well

However, me also thinks that since they arent full time agents, they may be lax or unaware of certain managemnet laws, they may come across less professional as full timers

Whats everyones take on them?

 

[redwing]

Queensland?

 

[Lil Skater]

Not meaning to sound biased, but I've dealt with quite a number of on site managers and quite frankly haven't found one who knows what they're doing!!

Like PM's the service and how well they know the law is very dependant on the person, so I wouldn't rule them out - but I also wouldn't automatically hand them my property because they're always there.

 

[citystar]

I have had only good experiences with onsite managers however as the portfolio grew it was easier to use a real estate as property manager. Not only was it easier to monitor what one person was doing but you have power to negotiate a reason discount if you have a bulk number of properties on their rent roll.

 

[TMNT]

I agree

most of the ones ive been speaking to seem a bit older (not that I have anything aginst oldie) but I always ask myself , 'do you even know how to use email', or they come across as a bit too lax

and yes, am assisting the settling a townhouse in QLD for a contact

 

[INVSTOR]

I must admit, not too experienced in complexes,

whats everyones take on getting the onsite managers to manage your property from a rental pespective

apparently all have a valid license, they have realestate.com accounts, their prices are reasonable, They would know your dwelling plus your neighbours all very well

However, me also thinks that since they arent full time agents, they may be lax or unaware of certain managemnet laws, they may come across less professional as full timers

Whats everyones take on them?

I have an on site manager in unit complex in Queensland. They have managed my property for past 10 years but just sold management rights so I'm not sure what next people will be like. The last manager was good. They would choose tenants carefully as they didn't want rowdy/feral tenants upsetting the quiet/good tenants. It's certainly the property I've had least issues with and a vacancy of 1.5 weeks during the period- replaced carpet during the vacancy so overall was really happy. They would also use reasonably priced tradies. A plumbing bill recently amounted to $60. No callout fee! So I think they did an excellent job and possibly arranged maintenance across a few units at same time to keep expenses down. I actually forget we own it sometimes - I wish they were all like that!

 

[kristaje]

We have had a very positive experience with an onsite PM, first as tenants on a property they managed, then as landlord having property managed by them. PM was quick with repairs and very proactive, flexible with open home when property is empty. Few times, they also managed to look for tenants without advertising, as knew which tenants in the building were looking to move (say, because the property was sold and landlord moving in or big rent increases). Our property only has less than a handful of empty days in the 6 years that they managed it. This is in Sydney CBD.

PM recently retired and sold their management company to another couple. So far so good. We hope they'd be as good as the previous PM.

 

[marg4000]

Our experiences with on site managers have been very positive.

They are usually careful who they bring into their complexes as they are living there themselves. Arrears were never a problem as an on-site manager is harder to avoid.
Marg

 

[Morbius]

I have one place where there are always on-site managers. So far I am on the third manager. The first two were great. A little more expensive than the managers I use for all the other places, but delivered the value as well in my view. I did have to train both of them to send me electronic copies of everything though. The current one is a bit lax. I keep having to remind him that I need electronic copies of all invoices at the same time as the statement, etc. He is however getting better over time as we get used to each other, and he's a good guy so I expect it will turn out OK.

The first two managers were retired builders and very handy. This is something you will not get with a Real Estate agency, and it saved me a lot of money over the years. (I am starting to come to the conclusion that you really need a manager who understands construction/building/decoration and general physical fabric even if they aren't handy enough to do it themselves.) The second manager was a husband/wife team where the husband was a retired builder and the wife was an ace on interior decoration and handling tenants. What a dream team!

So if you get the *right* on-site manager, it is fantastic. Much better than a real estate agent. But I have this fear that I will one day get a real dud and the only thing I will be able to do is sell the place to get rid of them. In short, the risk is too great and I personally will not buy a place where there is an on-site manager again.

 

[marg4000]

Check the manager agreement.

We only bought in complexes where the use of the on site manager was optional and letting through outside agencies was permitted.
Marg