Queensland townhouse complex

[WASP]

Does anyone have any suggestions for property management in Brisbanes Golden Triangle

We've been using the on site Manager but they recently changed hands and the new one isn't up to scratch, there's always a feeling with repairs that we maybe getting duped and on recent jobs we sourced other quotes ourselves, one was similar to his for painting, but on other jobs we've saved money by getting a couple of additional quotes ourselves

Should you always use the on site manager?

Would be any better off with an offsite manager?

Or worse (access etc) ?

What do other investors with similar properties (town houses in gated complexes) do ?

 

[Rixter]

I get my onsite PM's to get 3 quotes and email them to me. I then tell them who to run with.

 

[vbplease]

I've just gone through a terrible experience after leaving the onsite manager.. huge mistake!

I gave the management to an external agency based on their performance with another IP and their lower costs. Fast forward a few years and I'm trying to sell it.. it doesn't sell, I try to rent it out.. it sits vacant for 8 weeks I let the onsite manager let the property and its filled in two days.. They have a huge advantage with finding new tenants. From walk ins, being available all day for viewings, and knowing the right rental price. My advice, don't leave the onsite manager

 

[redwing]

Two yes's for on-site managers

 

[MichaelGilbert]

I have never been an on-site manager before and have not had much to do with them. Thanks for those good comments VBplease.

Correct me if I'm wrong on-site managers are still licensed real estate agents correct? (but they just only manage the units in the block only?)

 

[Rixter]

Two yes's for on-site managers

Make that 3.

From my 15 years of IP experience, onsite management is far superior.

 

[vbplease]

I have never been an on-site manager before and have not had much to do with them. Thanks for those good comments VBplease.

Correct me if I'm wrong on-site managers are still licensed real estate agents correct? (but they just only manage the units in the block only?)

That's correct, they are licensed agents. They could be licensed to sell as well. I'm sure most wouldn't say no to letting outside of the complex too.

 

[willair]

Does anyone have any suggestions for property management in Brisbanes Golden Triangle
?

Just wondering as I have never seen that before where is the "Brisbanes Golden Triangle "but if you want a good company to manage any real estate a simple call to this company,http://www.matthewsrealestate.com.au/page/property-management..btw I don't use them have bought several of them but manage the whole sideshow myself..imho..

 

[WASP]

Thanks Everyone

The On-Site Manager does have an advantage as well as a vested interest, the problems is they are nowhere as experienced as a PM instead buying into the management side of the properties to make their money

 

[Rixter]

Thanks Everyone

The On-Site Manager does have an advantage as well as a vested interest, the problems is they are nowhere as experienced as a PM instead buying into the management side of the properties to make their money

I guess it comes down to the individual onsite PM's experience level in the industry. Like any other industry, some one brand new will have bugger all experience compared to someone who's been in the industry 20 years.

 

[redwing]

I find our on-site PM is reluctant to do 12 month leases, always going for 6 months were they can as they then get a re-letting fee, other than that and being a bit slow on some issues they have been okay

In a gated community I think it would be harder with an off-site PM

 

[brettc]

Correct me if I'm wrong on-site managers are still licensed real estate agents correct? (but they just only manage the units in the block only?)

This depends on the State. In Qld they can have a Restricted Letting Licence which only allows them to manage properties in their Management Rights complex, or they can hold a full licence allowing them to manage external properties as well as make sales. Pretty sure in all other States they require a full real estate licence.

 

[Morbius]

If there is an on-site manager, it would take a lot to make me look elsewhere. Even if you are able under the by-laws to use an off-site manager, you will get screwed around.

On the other hand, the presence of an on-site manager is a deal breaker for me now. I will not buy into a complex with an on-site manager because you can't really fire the manager if they are not up to snuff.

I have one property with an on-site manager, and apart from the fact that they always want more commission, the experience was fine for about 11 years with the first two managers. But the latest one has been a real pain in the ***. I do have to admit that he is learning and getting better though, at least to the point where I no longer just want to get rid of the place. Maybe by next year I'll like him.

The on-site managers I have dealt with have all been licenced as property managers, but not as real estate agents who can sell your property.

 

[WASP]

Still seems dodgy looking at recent statements and comparing to other properties

Fix leaking tap one month, next month replace another tap and washer, on this note every few months there's always some small repair

Unblock drains one month, two months later unblock and repair, two months later a plumber had to attend

$40-50 per month for bins
$5.50 postage and petties (everything emailed)
Management fee works out to about 8.25%

On-site managers

 

[marg4000]

So where is Brisbane's "golden triangle"?

Marg?