This is an area that I invest in. I think the worst Property Managers in Vic must live on this part of the bay. I have had a lot of bad service from Property Managers. However my latest Property Manager has been excellent with the service provided so far. Has over 15 years experience in Property Management and is the representing President for LJ Hooker in Victoria. The office is located in Frankston (Nepean Hwy)and her name is Ann.
It is worthwhile having a talk to her. If you decide to, tell her you are a Property Investor and you were refered by me. (Mannie)
I have properties in the Frankston , Skye, Seaford area. My properties are listed with different agents depending on the area. Lj hooker in Frankston are good I agree, but for a property in seaford i suggest you come up the bay a little. Seaford itself has a Lj hooker it also has MPRE and bayside. Ring them and ask what there client base is like or if they have any waiting lists. Ask questions as if you are a prospective tenant looking for your type of property. You will soon learn from this who to put your business through.
We have a number of properties in the area and use various agents. I tend to give management to the agents who have found me the site /property on which we build our developments.
The ones I would recommend you approach are:-
1. Bayside Real estate - big organisation many offices - now part of Wilson Pride and have a central bayside rental office in Chelsea.
2. The Professionals patterson Lakes - ask for Liz.
3. We have had some great results from an out of area agent we use a lot, but covers all areas of Melbourne - ring Sharri from the Sonic Group -9450 8888. She is managing 3 large projects for us 2 in Seaford and 1 in Bonbeach and getting some great rentals and gives fantastic service.
There is an LJ Hooker in Seaford, however as you would know they are a franchised group, meaning they are not all the same. Please do a search on this forum for a previous negative comment on them.
In regards to Michael's message without naming who, one of the Property Managing agents that he mentioned have cost me a deal of money for no service return. They do not return calls, they have a very high turnover of staff, especially in the Rental Department. I could go on.
This, in no way reflects Michael's professional work and expertise. I have had fantastic feedback from him and regularly posts some fantastic advice for everyone here.
This is only based on my actual dealings with the above mentioned agency.
Thanks for the kind words and I do not take it as an offence. Please name the agency because I would hate Iris to have a bad experience with someone I have suggested. I think I know the one you are referring to.
I also realise that if you are a small player with only one or 2 properties to offer you may not get the same level of service as we do, who offer the agencies lots of potential sales and rentals.
Come to think of it all the agencies above have got LOTS of business from us over the last few years and therefore probably look after us well.
So what advice can I offer the beginning investor?
When you find a good property manager stick with them when you buy your next property, even if it's not in their immediate geographic locality. That's what I did when I started and rather than being a small fish to a few agents, I became an important client to one property manager. I think it made a difference at the time.
Now my agenda is slightly different.
We are always on the lookout for good properties and the way I get the calls from the agents before they ring others is to offer them back the sale or lease of the property. They know they will get more business from us and "that's the way the world goes round."
That is why we now have quite a few agents manage our properties rather than just one, and partly why we do not do it in house.
I had little doubt about which agency you were going to mention.
So let's strike the Professionals Paterson Lakes off the list.
You did the right thing. If a property manager does nott perform, take the property away from them and give it to someone who cares.
Hi Mannie, Michael,
thanks so much for the advice and for naming the "bad" agent.
I agree that it probably makes a big difference whether you're a small or big investor and I've had frustrating experiences with property managers not returning calls.