Onsite Managers

[WebBoard]

From: Greg C


Just bought my first ip
Brand new with onsite manager.
Any thoughts on pros and cons of allowing him to lease it as opposed to local agents?
Thanks Greg

 

[Anonymous]

Reply: 1
From: Anonymous


for IPs my 2 cents worth is that on-site managers are a bunch of lazy loafers and an unecessary expense.

go thru an agent - who will do just as piss poor a job, but won't charge as much. you're probably already paying inflated body corp fees to fund the lazy fat cat manager.

 

[Michael Croft]

Reply: 1.1
From: Michael Croft


Hi Anon,

Any chance you could be a little less subtle next time?

Michael Croft

 

[Jacque]

Reply: 1.1.1
From: Jacque Parker


Greg, why not manage it yourself? It's not too hard, requires a little work initially but you can save loads of money. Especially if it's a new place (low maintenance) and you're in the same city. Most property managers charge at least 7% these days plus leasing fee ( one weeks rent) and paperwork costs etc. On a $250 wk rent, that's around $18 a week- multiply it by 52 and that's almost $1000 a year.... depends on how much time you've got. Just an opinion anyway... Cheers, Jacque

 

[stirling]

Reply: 1.1.1.1
From: Stirling Reid


On site managers tend to be a bit more selective in their choice of tenants as they will be living with them. They quite often will sacrifice $10-$15 of your rent to get in nice people. Whether this is good or bad is debatable.

 

[cazandpaul]

Reply: 1.1.1.1.1
From: Paul Barnett


I have heard many stories here on the Gold COast about onsite managers. The main one being that they tell the owner the place is empty for a week/end, the owner turns up and finds the property occupied. Who knows how many other times they pocketed the cash?
Regarding the above post, I believe onsite managers to be LESS picky than agents as they don't all have access to TICA. You would also get a better rate for landlord protection insurance through an agent.
Regards,
Caz

 

[WebBoard]

Reply: 1.1.1.1.1.1
From: Sergey Golovin


We do have people at work who very happy with that sort of arrangement. They think it is best thing ever happen to them - on site manager. They do get all regular updates in mail and property is always rented out.

Do not quote me on that one I'm just selling for same price as I've bought it.
So, talk to your on site manager I guess.

Serge.