Property Manager changes

[stargazer]

Hi all

What would your thoughts be on this.

I've had a property with an agency for nearly a year now. The first 3 months i had a property manager. Then i received a letter that a new property manager was handling my property. The other day i received another letter advising that another property manager was handling my property. Thats 3 in 12 months.

The letter cited the Agency continuosly looking to better service etc.

Is this normal that property managers are changed frequently like this in the course of a year.

The first property manager was very good i feel and went out of her way to help etc.

The second was more, i had to ring her for contact and had to push a bit to get things done. Never advised when on leave. Spoke to her the day before the letter advising of the new property manager arrived, she didnt even mention the change on the phone. The letter states she has been promoted.

The third well i don't know its just accept who you are given the agreement is with the agency not the manager is the standard line.


Has anyone else had similar experience and is this fairly standard with agencies.

regards
BC

 

[Corsa]

Dear Bonecrusher

I dont think this is normal or acceptable. It must feel a bit frustrating dealing with the constant change in property managers. How can they be looking after your best interests if they have to keep relearning the property/tenants etc, and it wont be just yours, they will have to learn a rent roll of 100+ properties.

That's why I choose to go with smaller boutique companies that are usually run as a family business. This enables, for me at least, the continuity in the relationship in addition to the PM getting to know the property and any particular quirks etc. In addition to this, smaller companies are usually remunerated directly by how good a service they provide (ie you bring them more properties = more money, you take away your property = no money), whereas larger companies usually the PM gets a set salary irrespective of the level of service they are providing so in my opinion the incentive is not there to provide good service and/or find you a tenant quickly.

I personally wouldnt accept 3 changes in one year and on that basis would take my business elsewhere.

Good luck with it all

Best Wishes

Corsa

 

[Michael Yardney]

Owning a property management company (www.rentingmelbourne.com.au) I know that one of the real problems with younger property managers is that they do change jobs frequently. Its a problem for the agency and can be a problem for you.

I think Corsa gave you great advice.

If you are looking for a new PM have a look at this report. It may help:

http://www.rentingmelbourne.com.au/html/s02_article/article_view.asp?art_id=109

Out of fairness to the agency, if they have good computerised systems, all details and records should be there so a smart new PM should know what is going on.

Have a chat with the agency principal and see what their attitude is. If they are sales people you treat property management as a poor sister, change agencies.

 

[chrisp]

Bonecrusher,

I've had similar horror experiences, e.g. 3-4 PM's in a year, incompetence etc, etc, etc, but I think it is just luck of the draw. In my experience the size of the company didn't matter. I've nearly ended up in court with both small and large sized companies. At the moment I'm using a larger sized company and for the first time in a while have found a very good PM. The main thing is for you to take action at the earliest sign of trouble.
You can try and sort it out directly with the PM's company before things get out of hand but as you know these guys are good at "spinning it" and each time you just end up experiencing the same incredibly poor service.
Instead I just get rid of the incompetent PM as soon as I can and go to another company. And for my own benefit I tear shreds off the PM.

Just remember, you are not alone. Persevere. This stuff puts a lot of people off investing in property but there is always light at the end of the tunnel.

To quote a saying I saw on this forum, "the harder I work, the luckier I get".

Cheers,

Chris.

 

[quiggles]

There's another technique you can use as well. First, have a two week cancellation clause with the agency. Second, as soon as you find a good PM, let him/her know that if they consider moving agencies, you may consider it as well. Won't always work - our best PMs have tended to have sick mothers on the other side of the country, and we've just lost them.

 

[crest133]

Hi Bonecrusher
Michael Yardney is right.
Unfortunately many PM's are underpaid, understaffed, overworked, overstressed, overlooked . . . and for some, those are the good days.
It's a tough job and suffers from high staff turnover in many places.
Sounds like it's not a problem at Michael Yardney's agency, attitude is everything.
cheers
crest133

 

[sbblackangel]

3 pms in a month

Hi all,

I've had three pms in a month. Had a bad tenant so I am focusing on that. But the 3rd pm is not too bad. Been on the job for a month now.

 

[Sam_H]

Hi bonecrusher

I've had 3 PM's in 20 months. The worst thing was - all times -we weren't even notified?

I'd call/email...and find the receptionist say -' oh no..so and so has left etc'

What can you do?


cheers

Sam

 

[quiggles]

It's a tough job and suffers from high staff turnover in many places.
Sounds like it's not a problem at Michael Yardney's agency, attitude is everything.

I don't think Pam is allowed to quit!

 

[Michael Yardney]

I don't think Pam is allowed to quit!

Your'e right and we have had her daughter working with us for the last year or so. Having family members gives some stability.

But we do have problems: Last week one of our PM's lost her driver's licence for 6 months

She is so good we have kept her on in an administrative role in the interim.

Another spent $1,100 on her (company) mobile phone bills in one month, but she also leased 19 properties in the month so I let her keep talking and she pays for her private calls.

 

[ChrisOs]

I settled on a Cairns property in July 2004 and was pleased with the approach and attitude of the PM recommended to me. She was only looking after the property for about 6 weeks, then she moved on and another PM was assigned and I was advised of this by a letter.

I went to inspect the property in October 2004 (I travelled from Adelaide). I arranged to meet the PM at the property. When the PM hadn't arrived after 15 mins I called the office. "She is on her way." was the reply. After another 10 minutes she hadn't showed, so I knocked on the door anyway. The tenant was home and was aware of the inspection, so I had a tour of the house and chatted with the tenant. He didn't have a good word to say about the agency. Anyway, about 35 minutes after the agreed appointment time, the PM called me on my mobile phone and said "I can't find the house!" Don't worry now I said, I have inspected the property and chatted with the tenant.

I didn't give the PM notice, but there have been recent issues that are making me consider it. One initiative the agency introduced in November is to have a "handyman" do inspections when tenants vacate. So I thought, OK, give it a go, this looks like a good initiative, let's see what happens. At the same time as the inspection was to be carried out leaking taps, loose door handles, garden tidy up etc would be done. The idea being that it would save on time and money and the property would be very presentable and ready for the next tenant.

Since the new tenants moved in in January there has been a stream of minor jobs reported needed doing, at different times, such as trim the trees near the shed, then trim the shrubs out the front, then fix a leaking tap, then fix a leaking toilet. Not happy Jan!

Chris.

 

[Ausprop]

'can't find the property' - alarm bells there!

 

[geoffw]

Your'e right and we have had her daughter working with us for the last year or so. Having family members gives sgome stability.

But if she's like my daughter, the mobile phone bills are going to match your talkative PM's

Another spent $1,100 on her (company) mobile phone bills in one month, but she also leased 19 properties in the month so I let her keep talking and she pays for her private calls.

There may be another phone company, or another phone plan, which can give cheaper rates for usage like that. I've just had my $150pm bill (business calls!) changed to a capped plan at $79pm.

 

[Michael Yardney]

may be another phone company, or another phone plan, which can give cheaper rates for usage like that. I've just had my $150pm bill (business calls!) changed to a capped plan at $79pm.

She is on a $99 capped plan that allows $500 worth of phone calls. We are providing her with the phone and allowing her (at least we were) to use it for private calls. And boy did she

But she is on the road all day and doing a good job. HAving said that we made her make up the difference between the $500 cap and the $1,100 she spent.

 

[quintets]

'can't find the property' - alarm bells there!

"Can't find my brain!" more like it!