Jan Sommers writes in her books that when looking for a PM then look for one who runs their rent roll as a business rather than an agency who manage propertys as an extra to their sales.
In practise , How common are PMs who operate like this? Is it like finding the oracle?
Pursefattener
i know of one agent who does that here in canberra, in fact they dont sell houses at all. just do rentals. from what i understand they are great to do business with.
i guess you just have to ask around on this forum, for the area you are looking for a PM. someone here is bound to be able to answer you.
cheers
shaunLead, Follow or get out of the bloody way
Having worked in Real Estate and in particular in Property Management, I can tell you there are some great PMs out there, but there are also some extremely bad ones too.
Unfortunately the commissions are low so alot of agents go for volume to make their money but then are not able to service the properties & tenants as well as you would hope as an owner.
If you can find a company that specialises in PM only that is your best bet. Whoever you use though, keep a really good eye on them to see that they deliver what they promise, that the paperwork ie leases, inspection reports etc are all in order!
It’s also a good idea to have some way of the tenant contacting you if they are having problems with the PM. This can be difficult as you don’t want them hassling you and you want to keep your distance. However, maybe giving them an email address or something might suffice. Otherwise you don’t know problems are occuring until you lose a good tenant. It is also a good way of getting feedback on how well your PM is performing.
Shar
We have had a property manager for 3 years whose business is just that, their own property management business, with sales as an extra. The rent roll was up to 300. Worked there casually so kept an eye on things. Business has just been sold so we will wait and see how the new owners manage our houses.
Also heard of someone recently who was worked in PM for many years who is interested in starting her own business in PM only.
Anna
I imagine that these business people who specialise in property management only, will tend to be located in the major cities where there is strong demand for their service . Smaller regional centres are less attractive for their service due to volume etc I expect.
My propertys are located in Warrnambool
Pursefattener
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