Recommend Property Manager Rockingham WA???
- Thread starter Connolly
- Start date
Check out Investors Edge in Kenwick....they are really good.
You only began using them in September according to http://somersoft.com/forums/showpost.php?p=1212388&postcount=2 , have they been that impressive you can begin recommending them already?
Absolutely, the Best I've seen... and we have had quiet a few other property managers over the past 15 years to compare them with.
btw...Where does it say we only began using them in Sept
Absolutely, the Best I've seen... and we have had quiet a few other property managers over the past 15 years to compare them with.
btw...Where does it say we only began using them in Sept
Cheers Rick,
Will give them a call Monday and see how we go.
Appears to be a heap in the Rocky area but have spoken with quite a few people who have nothing good to say about most of them.
Shame, I worked about 2min away from Investors Edge for two years. Should have checked them out when was in the West.
Cheers
Ben
Just out of curiosity, what fees are you paying for their service?
Back in the day when I was looking for another PM they would not disclose their fees unless we met face to face. That lack of transparency and "salesman" approach to business sent warning bells and I struck them of the list.
http://somersoft.com/forums/showpost.php?p=1212388&postcount=2
Their business model must be working well - 2014 Property Management Company of the Year Award
Standard industry...if you are looking to pay a little as possible then you will get what you pay for.
Service value is more important.
But what is industry standard for WA? For example I pay 10% but no letting, inspection, court representation or any other fees. Some agencies charge a 1 week rent letting fee while most charge 2 weeks. Some charge for resigning an existing tenant to a new lease while others don't, and on it goes.
"if you are looking to pay a little as possible then you will get what you pay for". That is a cop out and if a PM uses that argument it should sends warning bells that they may be price gouging. There is no correlation - some of the worst PMs I have used over the past 20 years were also the most expensive.
The other warning sign is when an agency implies that you shouldn't worry too much about their fees because they are tax deductible. That is one way of looking at it and marketing 101 psychology at work. The other way of looking at it, the correct way, is that it is a transfer of landlord's income to the PM (of course you don't pay tax on income you don't receive).
Are you associated with this particular PM?
There appears to be no defined set governing rules as to fees charged in relation to residential property management. Its up the individual to conduct the appropriate research in this area.
From my experience over the past 15 years, most charge around the 8.5% for management, $5 for petties, $40 inspections, 1-2 weeks rent for new leases etc.
I guess no matter what industry there will always be a few not so good apples in the barrel. That's where one needs to satisfy themselves in relation to filtering the bad out.
The only real way to minimising potential exposure to that risk is asking for recommendations which you are rightfully doing. Then contacting those recommendations directly yourself, which you appear to be reluctant at doing, and then conducting the remaining due diligence required in order to make an informed decision yourself.
The only association I have, is that of clientele of the said firm.
I hope this helps and wish you good luck with finding an appropriate PM that meets your needs..
Thanks Rick
I was only asking out of curiosity as I struck that one off the list some time ago. I wouldn't know if they are good or not but I didn't go with them because of their lack of pricing transparency.
I am quite happy with my current manager who also happens to be one of the best value agents in Perth. Their fees are close to market norms in the eastern states.
As landlords we should be comparing and shopping around. It is the only way to get some genuine competition in the market as the "standard fees" in WA are unjustified and completely out of kilter with most of the country.
I was only asking out of curiosity as I struck that one off the list some time ago. I wouldn't know if they are good or not but I didn't go with them because of their lack of pricing transparency.
I am quite happy with my current manager who also happens to be one of the best value agents in Perth. Their fees are close to market norms in the eastern states.
As landlords we should be comparing and shopping around. It is the only way to get some genuine competition in the market as the "standard fees" in WA are unjustified and completely out of kilter with most of the country.
I agree totally..... I have props across the nation and its shocking as the differences between east & west. I guess the reason why WA's priced higher is because they can.
