Property Managers

[Luv2Travel]

I just want to write something in regards to property managers, as I've noticed a lot of complaints of recent, a lot of them justified, and everyone jumps on and says change companies and get a new PM. I just want to clarify that I think should mean a new PM, and not necessarily a new company.

I'm not a property manager, but I do work a few hours a week in real estate, so have a tiny bit of insight of what happens from the PM side of things. Just because one PM is not doing their job correctly, does not automatically make that company hopeless. I would suggest complaining higher up, and only then if nothing is done, that you change companies. The reason I say this, is, I work for a reputable company with good PM's and they take any complaints very seriously. There was a short period of time where a new PM was on the scene and we received a number complaints about that person, and they no longer work there. Had all the landlords, who had a complaint, just up and left, they may not necessarily get better service elsewhere.

I don't work in real estate full time, nor do I wish to reveal where I work, so I have nothing to gain from saying this. I just don't think that landlords are necessarily doing themselves a favor by just up and leaving because of a bad experience with one PM. If the service from the company overall is poor, or you do go higher up and the problems still are not resolved, then yes of course, go elsewhere.

 

[onthemove]

agree biggles.

if you have more than one ip in an area it can also help to use 2 different real estate agent companies as you get to see quite a lot of different ways things can be dealt with and if something does go horribly wrong you can bounce ideas off the other or jump ship quickly enough. works for me.

 

[normailson]

Agree, however, many smaller RE Agents only have one or two PMs (often a senior one and a junior one) so you know you are not going to get any better.

Others might be owned by a person who is from the sales perspective and focuses on that so he/she doesn't even understand property management. Sometimes you just know when you have to move on but you can give feedback too.

What amazes me is that this forum shows areas where good PM is needed.

Somehow building a strong PM reputation and PM rent roll (i.e a near passive income) is not seen as important as the sale. Once this cycle plays out, the ones who do will be the long-term survivors.

 

[alplant]

Somehow building a strong PM reputation and PM rent roll (i.e a near passive income) is not seen as important as the sale. Once this cycle plays out, the ones who do will be the long-term survivors.

Totally agree with this statement. Back in the early 90's the property market in Brisbane was in a slump that lasted about 12 years. I can remember a conversation with a man who was a principal of a successful real estate agency in one area. He had been running his agency for 30 plus years, and reckoned that during this slump the rent roll was the only thing that kept his doors open.