Thanks Jason, first positive report for a PM! What are their fees like?
7%. But it is worth it in my opinion.
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Thanks Jason, first positive report for a PM! What are their fees like?
Wondering if anyone could refer us to a reasonably good PM in Frankston, for me to confide my IP to? One that does their job in a decent way?
From what I can see on this forum, appears that Frankston has got none.
I am happy with Hocking Stuart, although it's only been 12 months with good tenants, so haven't tested how they would respond if an issue came up.
Hocking Stuart's Principal in Frankston, Andrew Gillespie, is not one to take responsibility when things go wrong - an unimpressive and pedantic man to say the least and I'm glad I no longer have dealings with him or his firm. His staff are pretty young and have a nonchalant and couldn't-care-less attitude. One lovely lady inthe rentals was very anti-landlord - too young to know any better I guess.
It's nice that you have had no problems so far. Wish I could say otherwise. Hocking Stuart caused me a lot of grief and I found no joy in getting any sense out of the owner of the franchise - you'd think he'd know better. The day they go bust is the day I pop the champagne.
As an side.....Hocking Stuart and MPRE are the worst when it comes to underpricing properties. If you are an owner, it pays to know that these two firms are well known for underpricing houses around town. Nobody underperforms the median like they do. If you are an owner of property locally, take heed.
at one stage i threatened to take my property from HS, then AG got involved in the conversation to bring me back again with nice words, and try to fix the situation,
As an side.....Hocking Stuart and MPRE are the worst when it comes to underpricing properties.
Of the few areas I study, I think Hocking Stuart massively under quote everywhere! I watch the inner Bayside area and also now the Altona area, and notice rather unrealistic auction quotes in those areas too for Hocking Stuart. I'd never buy at auction so don't care as I automatically dismiss anything going to auction anyhow.
Underquoting has an effect of keeping property prices down. I definitely won't be listing my IPs for sale (when that day comes) with any firm that underquotes. I refuse to shoot myself in the foot.
Shop around, fees above 6% IMO are a tad on the high side for my liking, but then I guess it depends on how many properties you bring to the table. Obviously the more business you dangle in front of them, the more negotiation power you have to play with!!!Hi, just wondering if anyone can share their experiences with property managers in the Frankston area (good and bad)?
And also what people paying in PM fees in Frankston and surrounds? I've been quoted between 6-7% management fee and around 3.3% letting fee. One agent gave a one off letting fee of 1.5 weeks rent, which seems more reasonable than an ongoing 3.3% fee no matter how long your tenant stays (eg 2 year tenant would cost in excess of $1000 wth the ongoing fee versus $550 with the one off fee). What do you pay?
One agent says $360 is the maximum you're likely to get in Karingal (4 bed/2bath/2 living), no matter how much you improve/renovate. True?
Oh, and how does it go with getting a rental appraisal from a different agent to the one you're buying from during settlement period? (We did not negotiate access for this in our sale contract).
Please share your experiences! TIA
I've recently enlisted 'Fruit' to look after my place in Karingal.
Standard AV Jennings 3+1+1.5 renting for $285 on 12 month with tennant that is so far proving to be very good.
After 3 months, Fruit have proven to be professional, reasonable, available, while communicating regularly and efficiently. They maintain these qualities regardless of how minor the issue.
Link: http://www.frankston.fruitproperty.com/
re: Fees - I suggest you negotiate directly with them to get your business. I pay 6.6% (inclusive of GST) and negotiated a lower letting fee.
Can concur with MM. My Frankston IP has been with Fruit for over a year now and their rental area has been thorough and communicate effectively.
"I am happy with Hocking Stuart, although it's only been 12 months with good tenants, so haven't tested how they would respond if an issue came up.