as sim has explained, you've missed out something.
the overheads.
From what I understand a good property manager can can look after about 100 properties. But if you are talking about looking after properties all over Melbourne or Brisbane travelling time would cut down the number of properties.
You need to allow for office space, rent, workcover, PI insurance, computers software advertsing etc.
You also needd an accounting person to look after the trust account but they must also be a lisenced agent or agents rep and you may need a receptionist.
Then what happens when the property manager you employ gets sick of dealing with whinging tenants or stingey landlords
How do I know all this?
I'm not an agent and don't intend to be (no slurr intended)
The timing and content of this post are fascinating as I am in the middle of coordinating something that may be of great interest to forum subscribers in Melbourne where you would get great service from an experienced, established and "fully licenced" property management company who gives first class service with a money back guarantee.
Not of the rent or tenant's performance, but of their performance to you as a landlord
Plus free internet advertising for vacant properties for life.
We have also gone down the path of getting "strength in numbers" as someone said earlier in the post, for our clients.
There is no reason why this can't be extended to forum subscribers.
Its all being organised at present, and should be ready to go in 4 -5 weeks time, but I can't say too much just yet.
If you are a Melbourne landlord and want to find out about this, please email me and I will let you know the details when they are finalised.
The more landlords, the better the deal we are likely to strike.
That may mean a better rate or maybe just better service.
Let's see.
If it all comes off and we can get a great deal for everyone that would be an excellent result.
So Melbourne landlords email me and if you feel comfortable tell me how many properties you would consider giving to a property manager who provides a first class service and adds value to your investments.
[email protected]