You're Fired!

I am about to give on of my PM's the @rse, and have never done it before.

It is rather upsetting, as I have had these same PM's since day 1, but the service is not what it should be, and when I called the Principal of the agency to discuss my long-held concerns, he basically didn't care that I was looking to take my business elsewhere. Take it or leave it was his attitude.

Can I name these f-knuckles on the forum?

I have a copy of the current Management Agreement, on which I changed the termination period to 14 days, when we renewed the agreement last year, and they have signed it. The agreement runs out on Nov 23 anyway.

Should I simply inform them that I won't be renewing the agreement and then look for the next manager now (I haven't started looking yet).

Has anybody done this already, and what is the best procedure to follow?

For everyone's interest, it is in Kalgoorlie, so does anyone have any recommendations for who to use there?
 
Same here. We let the new agent did all the work but the old agent did ring us back and talked to us :) We just simpy said it was too late.
 
Good luck. Hope you find a better PM.
It's a sad state of affairs when a long term provider doesn't care if they keep your business. Especially after you have shown THEM loyalty over the years.
 
Is there any automatic renewal of the agreement if you don't provide any notice of termination?

If there isn't any notice that you formally need, especially given the response (or lack of one) even from the Principal, then I would let the new agent handle all communication etc... The less you need to deal with them the better I suspect.

They would no doubt do this all the time (ie transfer properties between REA's) so they would be professional, as there may be circumstances where properties came back to them to manage from the other PM.
 
Good luck. Hope you find a better PM.
It's a sad state of affairs when a long term provider doesn't care if they keep your business. Especially after you have shown THEM loyalty over the years.

Yes Rob; it's a disgrace. I can only hope his attitude to his customers comes back and bites him on the @rse big time.

I asked him how many properties they look after and he said 900!

I then asked him how many staff he has, and he said 14.

That's 64 properties per person, assuming they all have properties to look after - which I'm tipping they don't.

I said "how can you possibly provide good service with so many properties per staff? You can't".
 
Good on you for being active on managing your PMs.

Find a new one, ask the same questions in the post above, let them take care of the rest and never think about it again.
 
Yes Rob; it's a disgrace. I can only hope his attitude to his customers comes back and bites him on the @rse big time.

I asked him how many properties they look after and he said 900!

I then asked him how many staff he has, and he said 14.

That's 64 properties per person, assuming they all have properties to look after - which I'm tipping they don't.

I said "how can you possibly provide good service with so many properties per staff? You can't".

I actually think 64 properties per person is actually really low. Which is more of an indictment! Assuming all those people are in the PM area.
 
that is extremely low... i know of agencies where the managers have 300 properties each. 150/manager is about the norm.

There you go then; shows what I know.

So then, if the 64 per person is so low, you think he'd be a little more keen to retain 3 properties he's about to lose?

I suppose when you've got 900, 3 is no big deal.
 
Out of the 14, you'd probably have 1-2 support staff. This is also assuming that he's not including himself, hasn't included selling agents which he probably has as well. So figure probably would be 100+ each when you take those out.

Unfortuanately you're right though, 3 out of 900 doesn't make much of a dent in his income as such, but spread his name around to other investors in Kalgoorlie and he may start to feel it. You'd be amazed how much business my PM has received through my referrals, the reverse can also work...
 
At 64 properties per person they should be giving outstanding service!

i think the more properties they have the less they probably care about what they lose. IMO when i was managing properties i became attached to some of them because i was treating them like my own, and on very good terms with the landlords so i would have been devasted if any of them walked. I know one of the property managers in our office is the same now!
 
I asked him how many properties they look after and he said 900!

I then asked him how many staff he has, and he said 14.

That's 64 properties per person, assuming they all have properties to look after - which I'm tipping they don't.

RENT ESTIMATE = $25.00 per week x 52 weeks x 900 properties = 1,170,000.

WAGES ESTIMATE = $50,000 per year x 14 staff = 700,000

Real Estate Office costs etc. would eat up a fair bit but still a profit to be had.


Regards
Sheryn
 
RENT ESTIMATE = $25.00 per week x 52 weeks x 900 properties = 1,170,000.

WAGES ESTIMATE = $50,000 per year x 14 staff = 700,000

Real Estate Office costs etc. would eat up a fair bit but still a profit to be had.


Regards
Sheryn

Don't forget letting fees of 1-2 weeks.

Plus that annoying little $5 per month sundry fee would equal another $54k just by itself.
 
Do it yourself and save the hassle of managing a PM....just cut out the middle man and manage the tenants instead......

...do the sums, take a trip over to Kalgoorlie once or twice a year and forget PM's forever....it's a no brainer for me...I left a long term PM for the very same reasons you are but, vowed not to go to another one...:eek:

So much better off and in full control, tenants great (all selected by us) and everyone happy.
 
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