Specialised Property Management
- Thread starter GlennNSW1
- Start date
To answer some feedback.....
Sunstone- the motivation was that my personal investment properties had been mismanaged over many years and I believe their is a strong demand from unhappy landlords and this has been proven to some extent in the interest we have generated in the short time we have been in business.
In terms of being an expert in many suburbs the ability to determine the rental income is not the challenge to supply landlords with service and respect is the area that is being neglected so the geographic principles are the same in my opinion.
Jamie- we are not buyers agents but as a service to our clients we supply these skills. Our core business is property management but our long term goal is to have clients for life and I see a way to achieve that is to be able to look after their wealth creation strategies as well and finding further properties for them is part of achieving our goal.
Thankyou for your comments
Glenn
Sunstone- the motivation was that my personal investment properties had been mismanaged over many years and I believe their is a strong demand from unhappy landlords and this has been proven to some extent in the interest we have generated in the short time we have been in business.
In terms of being an expert in many suburbs the ability to determine the rental income is not the challenge to supply landlords with service and respect is the area that is being neglected so the geographic principles are the same in my opinion.
Jamie- we are not buyers agents but as a service to our clients we supply these skills. Our core business is property management but our long term goal is to have clients for life and I see a way to achieve that is to be able to look after their wealth creation strategies as well and finding further properties for them is part of achieving our goal.
Thankyou for your comments
Glenn
Glenn,
I would be very happy to have a property investor as my property manager rather than just another real estate agent doing a job (and generally not very well) as I would assume that part of the job would be to recommend / suggest how the property could be improved in order to get a higher rent etc.
I don't see any conflict of interest in such a property manager recommending a suitable property to buy if the sums add up.
What is your company called? What is the website address?
SG
I would be very happy to have a property investor as my property manager rather than just another real estate agent doing a job (and generally not very well) as I would assume that part of the job would be to recommend / suggest how the property could be improved in order to get a higher rent etc.
I don't see any conflict of interest in such a property manager recommending a suitable property to buy if the sums add up.
What is your company called? What is the website address?
SG
Glenn was kind enough to put that info in his profile. Press the profile button that appears at the bottom of his posts
specilaised property management
To answer your question Silverghost the company name is
Strictly Rentals and the web site is
www.strictlyrentals.com.au
Thankyou for your enquiry
Glenn
To answer your question Silverghost the company name is
Strictly Rentals and the web site is
www.strictlyrentals.com.au
Thankyou for your enquiry
Glenn
Duncan
As you know my wife Pam runs Metropole Property Management and we have a very extensive property portfolio.
I am answering this for heras she is busy putting some new listings on teh internet- even at this time of night.
There is clearly a huge advantage having a PM who thinks like an investor - its a totally different mindset.
I know this week alone of the properties leased by MPM one was for a 3 year lease and one was for a 2 year lease. Thinking outside the square -just asking for a longer lease gives great results
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Duncan
I also am a Real Estate Agent who runs real estate office in Brisbane with a property management section and my own IP's.
I have worked for some larger agents over the years and found a few very good PM's but on the whole, yeah not so good. I think the main reason is that The Principals of the office are not directly involved in the day to day running of the Property management and only ever speak to thier clients when they are requested to. The PM's get their pay packets each week and if they loose one management they don't seem to care because they generally pick one up from somewhere else to replace it. Usually another disgruntal landlord giving another office a go.
I use this general rule "treat each management as I would treat my own, and treat each landlord & tenant how I would like to be treated" Seems to work for me.
Just in regards to Micheals comment on securing tenants on 2 & 3 year leases, I am not a big believer in doing that. I won't sign anyone on for longer than 12 months. If the tenants want to resign for 12 months after initial lease thats no problems.
This is my reasoning, I just feel that if a situation arose & the landlord needs to sell their IP and a tenant has 2 years left on his lease, the owner really cuts downs his/her options in the market to and investor buyer only. What if an owner occupier wanted to buy? The tenant has a lease and if they will not break it for the new owner occupier, good bye purchaser. What if the owner occupier is prepared to pay more for the property than the investor? (I have seen this happen before)
Just a little something to think about. Might work fine for Micheal & Pam and form what I have been reading they care for their landlords, but for me I would be reluctant.
Jarrod
Jarrod Lane Real Estate
I also am a Real Estate Agent who runs real estate office in Brisbane with a property management section and my own IP's.
I have worked for some larger agents over the years and found a few very good PM's but on the whole, yeah not so good. I think the main reason is that The Principals of the office are not directly involved in the day to day running of the Property management and only ever speak to thier clients when they are requested to. The PM's get their pay packets each week and if they loose one management they don't seem to care because they generally pick one up from somewhere else to replace it. Usually another disgruntal landlord giving another office a go.
I use this general rule "treat each management as I would treat my own, and treat each landlord & tenant how I would like to be treated" Seems to work for me.
Just in regards to Micheals comment on securing tenants on 2 & 3 year leases, I am not a big believer in doing that. I won't sign anyone on for longer than 12 months. If the tenants want to resign for 12 months after initial lease thats no problems.
This is my reasoning, I just feel that if a situation arose & the landlord needs to sell their IP and a tenant has 2 years left on his lease, the owner really cuts downs his/her options in the market to and investor buyer only. What if an owner occupier wanted to buy? The tenant has a lease and if they will not break it for the new owner occupier, good bye purchaser. What if the owner occupier is prepared to pay more for the property than the investor? (I have seen this happen before)
Just a little something to think about. Might work fine for Micheal & Pam and form what I have been reading they care for their landlords, but for me I would be reluctant.
Jarrod
Jarrod Lane Real Estate
Just a general comment ...
Some years ago my partner and I moved to Brisbane. We couldn't sell our house in Hornsby in time, so ended up renting it out for a while. We were told about a specialist property management company (in another part of Sydney) and used them, and it was really a good thing! They screened the tenants, and looked after the place extremely well. We were really pleased ...
Some years ago my partner and I moved to Brisbane. We couldn't sell our house in Hornsby in time, so ended up renting it out for a while. We were told about a specialist property management company (in another part of Sydney) and used them, and it was really a good thing! They screened the tenants, and looked after the place extremely well. We were really pleased ...
I have broken my own rule of not responding to your posts, and am responding to this one.
Dunc, you are a hippocrite.
You have howled me down on many occasions, and now you are going on about how wonderful it is to FINALLY have a property investor turned PM...
What in living hell do you think I do?
I have been investing in property since 1990, and have been in real estate since somewhat after that.
Yet my opinion and advice seems to amount to naught, according to you.
crikey, make up your mind, willya.
asy
PS: Glenn, welcome to the forum, it will be nice to have ANOTHER property manager around...
We currently use Strictly Rentals for our IP. One of your team members Michelle is an absolute star. She is extremely efficient and professional. She always follows through on her commitments to us in a very timely manner. The way yourself and your team manages your business is a real credit to all of you. I certainly would recommend Strictly Rentals to anyone who is looking for a PM.
Cheers
G&G
Cheers
G&G
I have two inner Brisbane units and I use Michelle Harris Property Marketing to manage mine. They also sold me the two properties. I am quite happy with their property management as they generally always return my emails in a timely manor ( generally on the same day ), which is something I very much appreciate. Adrian Harris is very professional in his approach also. www.mhpm.com.au I bought at SOHO in The Valley and Signature Court in Newstead.
The ones I have experienced in Melbourne are a joke. I've been treated like crap in Melbourne and have lost $2,500 on two dud agents. Such a contrast when compared to my Brisbane manager. In Melbourne, I have dealt with incompetents and snakes. Not that Melbourne is devoid of good managers, I'm sure they exist. Just a run of bad luck I guess. I have learnt a lot from the experiences though. I hope : /
The ones I have experienced in Melbourne are a joke. I've been treated like crap in Melbourne and have lost $2,500 on two dud agents. Such a contrast when compared to my Brisbane manager. In Melbourne, I have dealt with incompetents and snakes. Not that Melbourne is devoid of good managers, I'm sure they exist. Just a run of bad luck I guess. I have learnt a lot from the experiences though. I hope : /
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You can add me to the list too but thats not what I am replying for.
The reason I believe excellent PM's are hard to find is because it is such a difficult job to do. I recently made the statement that Property Manager's are underpaid and I stand by it. Unfortunately the returns don't justify their real value. I believe it to be the most difficult profession to undertake. A good PM needs to have incredible skills in people management, time management and the thick skin of a football referee. I will go on record to say I will NEVER be a property manager.
The other prime reason I believe is most Principals are from a sales background and their focus is usually in sales. However, over recent years the value of a good Rent Roll has finally been understood for it's value. Many years ago Neil J convinced many owners to sell their rent rolls and I gather it was considered as unsuccessful as it hasn't been public knowledge to continue this as ideal agency practice over recent times. I think the value of a good property management department showed its value during that time.
Dunc - As much as I agree it would be ideal to have better standards within Property Management I think your statement of 95% as being mediocre is a little harsh.
Kev
www.nundahrealestate.com.au
The reason I believe excellent PM's are hard to find is because it is such a difficult job to do. I recently made the statement that Property Manager's are underpaid and I stand by it. Unfortunately the returns don't justify their real value. I believe it to be the most difficult profession to undertake. A good PM needs to have incredible skills in people management, time management and the thick skin of a football referee. I will go on record to say I will NEVER be a property manager.
The other prime reason I believe is most Principals are from a sales background and their focus is usually in sales. However, over recent years the value of a good Rent Roll has finally been understood for it's value. Many years ago Neil J convinced many owners to sell their rent rolls and I gather it was considered as unsuccessful as it hasn't been public knowledge to continue this as ideal agency practice over recent times. I think the value of a good property management department showed its value during that time.
Dunc - As much as I agree it would be ideal to have better standards within Property Management I think your statement of 95% as being mediocre is a little harsh.
Kev
www.nundahrealestate.com.au
I find 95% of most professions are mediocre Kevin, trust me I'm not singling out Property Managers..
Mediocre I'd define as average to inferior quality.How often do you walk away from a Transaction thinking "damn I was well looked after?" Maybe 5 times in 100 I'd bet. And given that its my portfolio of assets I want to be looked after more than you can imagine. I want problems fixed fast, I want tenants kept happy and I want immaculate records kept of leases, inspection sheets etc.
specialized property management
Hey Duncan,
You could not be more accurate in your assessment of Australian business. I totally agree that it is only 5% of people who are satisfied in a general transaction. The only good news coming from this understanding, is that you can pretty much take a shot at any service industry in Australia and create a point of difference very quickly by being great at customer service, and that really only means answering the customers concerns efficiently. So what an opportunity for those people who want to be in business for themselves, be great at customer service and this almost immediately equates to success in business.
Hey Duncan,
You could not be more accurate in your assessment of Australian business. I totally agree that it is only 5% of people who are satisfied in a general transaction. The only good news coming from this understanding, is that you can pretty much take a shot at any service industry in Australia and create a point of difference very quickly by being great at customer service, and that really only means answering the customers concerns efficiently. So what an opportunity for those people who want to be in business for themselves, be great at customer service and this almost immediately equates to success in business.
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