RUN - how good are they as PMs

[sash]

Hi,

I am planning to hand over a large chunk of my portfolio to RUN to manage in Melbourne and Sydney.

I have negotiated a bulk discount....and was wondering what other peoples experiences were with RUN?

They only specialise in leasing....are they any good?

Would love to hear comments from other SSers...if you feel the commentary is sensitive, please feel to PM me.

 

[The Y-man]

Have several properties with them.

Not the cheapest, but have been ok. I have a feeling it still depends on who you end up with as your assigned PM.

Little touches like how they put the address of the property in the bank transaction when crediting rent makes life just that little bit easier.

Seems to respond to phone and emails equally well.

Cheers,

The Y-man

 

[shermy]

I have my Melb Ip with them. Was very impressed by the attention to detail at the start/sign up phase. But like Y-man has stated, the PM assigned to our IP has a lot of properties to manage and I feel as though we're now just a number.

Doesn't help that this PM has been in poor health a lot this last year which has meant calls and emails going unanswered for quite a few days, sometimes weeks.
However, all statements arrive on time and are well laid out making the paper trail easy to manage.

 

[Alabex]

i have heard because they are usually in a central location their local knowledge in all the different areas can be a bit lax... haven't had any personal experience myself, i only know from a couple of managements we have taken over from them.

 

[depreciator]

Run originally had a centralised operation, but I think they realised it didn't really work and so them moved to decentralise it. I'm sure whether that has happened eveywhere.
You can imagine the number of property managers we deal with given we have 60 or so QSs across the country. I can say that it all gets down to the person in the RE agent office. And when a good PM leaves, things often fall in a heap.
Scott

 

[poordeveloper]

The property we're living in is rented via RUN property. Experience has been unpleasant enough that I wouldn't consider using them to lease any of our IP's. As a tenant, it's ridiculously hard to get hold of our property manager on the phone. She has an assistant (18 year old kid) who has no idea about anything and simply passes on messages (or perhaps doesn't?). I've been waiting four months for them to reimburse me for some expenses I incurred on an emergency repair (been approved, they just can't get their act together to pay me).

Had a chat to the LL a few weeks back and he's not happy on his side either. Apparently the place took a long time to rent and when he started turning up to the inspections he realised the property manager wasn't turning up until half way through the advertised open times!

 

[YLC]

Where are the good PMs? It looks like there are more bad ones than good ones. I thought it was just me having a high expection on my PMs.

 

[Tim]

I;ve ;used run in Brisbane for 2 properties for a couple of years and found them to be very good compared with a number of other agents I also use.

Tim

 

[Tash_85]

i had to cancel with Run in Brisbane. they were shocking. I changed to Ray White

 

[Sylvie]

They are he one who send me to the tribunal a few months ago claiming all my bond and a bit more after I broke the lease and they did not manage to rent the property in less than 8 weeks after increasing the rent of $50/w. And they did not even turn up at the tribunal so lost everything. If I was the LL I don't think I would have been very happy to loose about $1400 just because they did not do their job properly according to the rules!! It's ridiculous!

 

[Xsells]

Like most industries there are the good and the bad.. I have worked with RUN and many other companies providing PM services. RUN's business platform was great, but it does depend on who you get. The problem with most PM is that they use it as a stepping stone to get into sales and therefore don't really care about their role as a manager.
One thing I have learned though, is that if LL keep making decisions on the commision rate as to "who will do the best job and be the best value for money"?, the LL will always lose. I have seen many examples of moronic PM's that cost LL's lots of money through, crap tenant's, no inspections, not being able to represent well at VCAT etc etc.
Pay your PM's well and you shouldn't receive a monkey to do the job.
The less commission you pay the more properties the PM has to manage to make it viable.. 1 nurse to 4 patients; 1 teacher to 29 students; 1 PM to 165-180 properties... Not 220 - 250 as most agenies do.
I have shares in RUN so I hope they do well, I also run my own agency (which I hope does better).... Interview your PM, get a feeling of ability and pay them well... It will save you more in the long run (no pun), than just a couple of bucks a week in negotiated commission

 

[jasper]

When Run or Metro (PM supergroups as they are known) rent properties in my area, they seem to lack knowledge about true market values, often having the property for rent at up to $50 per week under market value. Considering the median rent price in the area is only $270p/w this is a huge ratio to be out! I went to a Run OFI awhile ago on behalf of my sister and the PM did not even show up and did not answer their phone. I was less than impressed.