RUN Property

[lura]

My brother had RUN look after his property in Brisbane - two evictions and $2,000 in repairs later - they were discharged. I now look after it - no problems now.

Money is what you pay - value is what you get.

Before embarking on new managers - compare what they charge for routine inspections, lease renewals, water meter reading? ome come across with cheap management fees but have all these other chargeable items that work out about the same price anyway.

 

[Ms Jade]

Sounds like it depends where you are & what person you are assigned. I have had no issues with RUN Prahran office, FWIW. In fact the business development person I was initially assigned (got the first lease in place) was exemplary. I was nervous about dealing with someone else when she handed it over but turns out my fears were unfounded. Perhaps there's some luck involved but the account manager I was assigned has been excellent.

 

[Dazz]

After 10 years of property investing....

I don't have the time or expertise.

An extra $1k on PM fees ends up being a very large amount.

These three statements don't make sense.


Time

Fair enough if you don't have the time, but then it doesn't make sense to say that 1K is a very large amount on PM fees, which save you lots of time, unless of course your time is worth $ 7 an hour.


Expertise

You're kidding me, after 10 years you've only got 2 things to read.

1. The RTA is about 65 pages long and is written in bold print that grade 3's are used to. You could read and absorb it in an afternoon. Little 18 yr old secretaries do the course within 5 days, and then are able to sit a 3 hour exam on it and get over 95%. Surely after 10 years you are able to do what it takes young kids 1 week to do part-time.

2. The Lease for residential properties are typically 3 or 4 pages, and a child would have no problem understanding it all, hell, even Tenants manage to read and understand it.


Which bit do you find particularly tough ??

 

[awesome wells]

These three statements don't make sense.


Time

Fair enough if you don't have the time, but then it doesn't make sense to say that 1K is a very large amount on PM fees, which save you lots of time, unless of course your time is worth $ 7 an hour.

So are you trying to say $1k EXTRA is not a lot? That's an extra 40%

Below you try to tell me PM is so basic that anyone could do it (and I agree on that). But that begs the question "why would you pay an EXTRA $1000 for something that anyone can do"

Didn't think that one through properly, did you champ?

You're kidding me, after 10 years you've only got 2 things to read.

I didn't say I wasn't capable of learning how to do it, I just said I don't currently hold the skills.

 

[jcwc888]

i've never used a PM on my rentals before.

Had one who trashed the place but i had insurance and it covered everything and more and i had the bond too. My insurance was only $33 per month.

Other than that, i've had good tenants.. paying their rent on time. I suppose all my IPs have been apartments and i let the Body Corporate to fix stuff as generally everything is pretty much working.

I would look to get a PM if i had maybe more than 5 but it's managable at the moment.

 

[Finrod]

Not the greatest experience

As others have mentioned above, I think it comes down to your individual PM.

My local agent turned into Run. I had a place let out with them for a few years at around 270 pw. I then moved into, making it my PPOR. Days after I moved in, they were sending me letters asking me to re-list it with them promising $340 pw (I just moved in - why would they start advertising straight away? Bigger question: why not increase the rental all along instead of letting it get $70 behind market rates?).

I probably should have been a bit more proactive about my rental increases over the years (young/foolish/etc); but it certainly didn't instill me with much confidence in them looking out for me. They may have worked hard to win your business, but not to keep it.

Hope your experience turns out better. I've had pretty good experiences with Wiseberry real estate if that's of any help?

 

[Morgs]

I interviewed RUN for one of my properties in Richmond VIC, few years ago.

Did not end up using their services as there was a disconnect between where they thought the market rental was and reality (to the tune of $7K PA). Not sure but I would've thought it'd be in their best interests to try and maximise the yield for the investor (i.e. the customer), but I'll leave you to make that descision