I think most of the replies refer to residential management, so don't get hot under the collar. If I had a CIP I would be happy to pay to have it managed, as I know diddly squat about it.
I know residential very well and have self-managed for over 30 years. I cannot justify paying to have our places managed because I find it a breeze. Others do not find it easy, or don't want to deal with tenants and I would think the majority do pay for management.
I just find it rich in the case where a tenant simply signs a new lease that has been printed off from the old one with two dates changed and some landlords apparently are charged a week's rent for this.
I also realise that like many things in life, many tenancies will run smoothly but will be made up for by the small number that take up a lot of time when problems arise.
For the past year, we have given our IPs to a manager to find us a tenant. They take one week's rent plus GST and I am very happy to pay that. I used not to want to pay it, but we can afford it now (couldn't afford it in the past) and I do like not having to screen potential tenants myself.
Our IPs are all local, so organising tradesmen is easy, but I would not like to be doing it for 150 properties.
I also have found our own tenants for the past 30 years and whilst we went very much on "gut instinct" which rarely let us down, I now think that the screening the agent does is worth paying for as it means I don't have to open the house, take applications and be the one to say "yes" or "no".
Maybe I am getting soft .
I know residential very well and have self-managed for over 30 years. I cannot justify paying to have our places managed because I find it a breeze. Others do not find it easy, or don't want to deal with tenants and I would think the majority do pay for management.
I just find it rich in the case where a tenant simply signs a new lease that has been printed off from the old one with two dates changed and some landlords apparently are charged a week's rent for this.
I also realise that like many things in life, many tenancies will run smoothly but will be made up for by the small number that take up a lot of time when problems arise.
For the past year, we have given our IPs to a manager to find us a tenant. They take one week's rent plus GST and I am very happy to pay that. I used not to want to pay it, but we can afford it now (couldn't afford it in the past) and I do like not having to screen potential tenants myself.
Our IPs are all local, so organising tradesmen is easy, but I would not like to be doing it for 150 properties.
I also have found our own tenants for the past 30 years and whilst we went very much on "gut instinct" which rarely let us down, I now think that the screening the agent does is worth paying for as it means I don't have to open the house, take applications and be the one to say "yes" or "no".
Maybe I am getting soft .