Rental property advertising
- Thread starter h8dk97
- Start date
One agent that used to manage one of my properties was so bad with advertising that I ended up running my own ad. That was the only way I could ensure the end result I was after.
When my husband and I had our first property manager, in 4 weeks of advertising, she had only managed to get 4 or 5 calls on the place and only 2 of those went through the place.
After the 4 weeks, we fired her and advertised ourselves. We got about 15 calls on the Saturday morning, and our new property manager showed through all of them and it was snapped up straight away.
Sometimes it is just worth advertising yourself if you're not getting the results you want.
After the 4 weeks, we fired her and advertised ourselves. We got about 15 calls on the Saturday morning, and our new property manager showed through all of them and it was snapped up straight away.
Sometimes it is just worth advertising yourself if you're not getting the results you want.
When advertising yourself you are able to keep the property open for longer so as to give prospects more time to look at the property. The average P.M has a rental open for about 20mins in Sydney,inner City, on Saturday mornings and from a prospective tenants point of view it is a mad scramble to get around to look at a few properties only to arrive just as the agent has shut up the property. Even when showing a $2m house for sale agents often allow only 45mins for viewing. You can give better service yourself.
MIZBUF said:
Actually you will find it isn't necessary to open the property for long periods of time and in fact there is a very clear benefit in the open time being 30-45 minutes. We do all ours for 30 minutes only. People will arrange to get there in the time you allocate if they want it or make alternative arrangements on rare occassions if necessary. By leaving your time more open you are just going to spread out the time those same people will attend.
Secondly, by forcing them to come at the same time it creates more competition, they now know others are interested. This means they are more likely to make a decision immediately and/ or are less likely to try to negotiate therefore putting more bucks in your pocket. Over many years of doing open homes I am convinced in my belief. However, if you have oodles of time, knock yourself out
Kev
www.kevinhockey.com.au
Kevin Hockey said:This means they are more likely to make a decision immediately and/ or are less likely to try to negotiate therefore putting more bucks in your pocket. Over many years of doing open homes I am convinced in my belief. However, if you have oodles of time, knock yourself out
I agree Kevin, whilst I havent held 100's of opens as a self-managing Landlord I do find that short opens are better.. it shows someones reliability if they can organise to be there on time.. it DOES create a sense of urgency amongst potential renters and most importantly, because its on a weekend, my time is valuable, I want to get in, get a handful of applications and get out..
I also find that almost ALL Agents in SA do NOT hold opens on the weekend, I'm convinced I get the pick of the best available Tenants when I advertise. I've generally made a decision by 10am on Monday just as the Agents are starting to get their phones calls about the properties they advertised on Saturday..
Surely it boils down to your faith in the property manager ?
Some have had terrible experiences while others will swear by their agent.
If you "know" your agent does a great job ... there would be virtually no reason for you to bother doing it privately, would there ?
Of course that puts the ball in your court to do due dilligence on the agents.
Some have had terrible experiences while others will swear by their agent.
If you "know" your agent does a great job ... there would be virtually no reason for you to bother doing it privately, would there ?
Of course that puts the ball in your court to do due dilligence on the agents.
Patosan said:
There's a few reasons, here's some of mine:
- I enjoy it
- it saves me a LOT of money
- I like the contact with Tenants
- there seems to be a high turnover of PM's in the industry, you get comfortable with one and they often leave
- I'm a better judge of character than all of the PM's I've ever had
- I seem to be able to organise maintenance at a cheaper rate
- I like the weekly cashflow
- I sleep easier at night knowing EXACTLY where my Tenants are 'at'
G'day Duncan,
Well you certainly seem to have a handle on things in that area ... and enjoy it.
Also it seems that from your experiences you don't have faith in agents ... to do the job near as good as yourself.
So for you there could be no alternative I'm sure.
For me thus far there hasn't been an alternative, since I'm up here and my IP are down there. Having been in this situation for some time now, I would not want to get involved with tenants. I would however like to get little maintenance jobs done more cheaply, buts thats just one little pill I have to swallow for being "remote" from the IP.
For those that are considering advertising & approving tenants :
What screening methods do you use ?
Well you certainly seem to have a handle on things in that area ... and enjoy it.
Also it seems that from your experiences you don't have faith in agents ... to do the job near as good as yourself.
So for you there could be no alternative I'm sure.
For me thus far there hasn't been an alternative, since I'm up here and my IP are down there. Having been in this situation for some time now, I would not want to get involved with tenants. I would however like to get little maintenance jobs done more cheaply, buts thats just one little pill I have to swallow for being "remote" from the IP.
For those that are considering advertising & approving tenants :
What screening methods do you use ?
I hired a property manager and signed a general for 2 properties.
I was told keys were going to be picked up the next day.
Well 2 and a half weeks later- no keys picked up, no viewing of properties,
no photo advertising, no phonecalls or updates to me, and he actually
dropped the rent in the first week without my permission.
I then called up the Director and said I was not happy with the service and
I will be taking my propeties elsewhere.
Well lo and behold yesterday I recieve a bill for advertising for $150.
I have no qualms with paying where money is due, but this so called property
manager just got me to sign the general, and did no work for me in those
2 and half weeks.
Also advertising was a one liner for 2 weeks.
I also got an email back from the director saying " THERE ARE 2 SIDES TO EVERY STORY. THE BILL MUST BE PAID"
That is it, no Hi, or explanations or anything. I thought that was quite rude.
I wonder what the 2nd side of the story could possibly me. Was the
rental manager asleep for 2 weeks.?
Anyway do you think I am doing the right thing by going to consumer affairs?
I know $150 is not a great deal of money, but it is the principle of the matter.
Even if the director gave me some reasonable explanations to my
questions- maybe that would have shown some concern , but the manner in which he replied to me was very arrogant and sarcastic.
Since then both properties have been leased by a different agency.
Marina
I was told keys were going to be picked up the next day.
Well 2 and a half weeks later- no keys picked up, no viewing of properties,
no photo advertising, no phonecalls or updates to me, and he actually
dropped the rent in the first week without my permission.
I then called up the Director and said I was not happy with the service and
I will be taking my propeties elsewhere.
Well lo and behold yesterday I recieve a bill for advertising for $150.
I have no qualms with paying where money is due, but this so called property
manager just got me to sign the general, and did no work for me in those
2 and half weeks.
Also advertising was a one liner for 2 weeks.
I also got an email back from the director saying " THERE ARE 2 SIDES TO EVERY STORY. THE BILL MUST BE PAID"
That is it, no Hi, or explanations or anything. I thought that was quite rude.
I wonder what the 2nd side of the story could possibly me. Was the
rental manager asleep for 2 weeks.?
Anyway do you think I am doing the right thing by going to consumer affairs?
I know $150 is not a great deal of money, but it is the principle of the matter.
Even if the director gave me some reasonable explanations to my
questions- maybe that would have shown some concern , but the manner in which he replied to me was very arrogant and sarcastic.
Since then both properties have been leased by a different agency.
Marina
Marine,
Ignore it.
For $150 eventually they will go away because it'll cost more than that to recover the monies. If their service was sa bad as you said they don't deserve to be paid. In my opinion they have not delivered the goods and services as per agreed and therefore have no recourse to expect to be paid. I am assuming the agreement stated you were to pay for any advertising. If not, they have no rights to it. If you do consider paying, ask for a copy of the invoices for the expenses.
Personally I'd file it in the basket under your desk....you know the one, its labelled "Bin".
Kev
www.kevinhockey.com.au
Ignore it.
For $150 eventually they will go away because it'll cost more than that to recover the monies. If their service was sa bad as you said they don't deserve to be paid. In my opinion they have not delivered the goods and services as per agreed and therefore have no recourse to expect to be paid. I am assuming the agreement stated you were to pay for any advertising. If not, they have no rights to it. If you do consider paying, ask for a copy of the invoices for the expenses.
Personally I'd file it in the basket under your desk....you know the one, its labelled "Bin".
Kev
www.kevinhockey.com.au
Marina said:
Which company?
I would like to know who to avoid and I think so would many others
