Seeking recommendations on a good PM in Dunedin for a high maintenance property (are not in a position to sell as yet). Property is 4 bedroom nicely renovated rental in Caversham, others similar rent for 400-500 per week so the PM will be making a reasonable amount of change off it.
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Recommendations on a PM in Dunedin?
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How are they with maintenance? This is my biggest concern. From my own experience, and reading someone else's post recently, tenants often call up about really stupid things, like 'appliance isnt working': 'is it plugged in?'yes'...send out technician as I'm not there, turns out appliance not plugged in etc. Another person posted recently about a PM calling out a plumber then an electrician for a broken HWC when all it was was a blown fuse. Wanting someone prepared to handle these niggly things themselves, not just send out a tradesmen for absolutely anything.
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Yes they bring all maintenance issues to our attention and attend to as directed - haven't had any issues outside normal inspections stuff ie. new curtains, replacing floor coverings due to age, chimney sweeping, replacement of fire bricks. They did org free insulation for the property.
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On that note,
Do you think it's worth continuing to rent RBR as studio units, if I can find a PM that will take it on. Currently I live there and I work out my calculations of the costs of the property based on myself contributing too. I think if I wasn't there and with the improvements I have made this year and will be doing over the summer I could get quite a bit more per room (as people generally get put off living with a landlord although we usually have near full capacity), although the power figures would go up by quite a bit without me there to keep an eye on things, and I would need commercial insurance which is a lot more $$$ than insurance when it is owner-occupied with boarders.
So this year, the figures so far are (renting by room);
Room 1: Couple paying 200 pw
Room 2: One person paying 180 pw (this room has it's own access and is quite big)
Room 3: One person paying 140 pw
Room 4: I contribute 130 pw (this is probably quite modest as mine is the second largest room)
so 650pw incoming approx.
If we look at 8 months at full capacity (which is what I have had)
Costs this year so far:
Some of capital improvements could be considered maintenaince, but are things where we have decided to upgrade instead of just standard maintenaince (e.g replacing a leaning retaining wall).Interest 7162 Capital Improvements 5800 Maintenaince 800 Rates 1280 Insurance 1048 Electricity 3099 Consumables $350 Broadband 504
Total incoming:21,875
Profit:
1,832
So not a lot...but better than how it would be as full rental? Not sure...
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Update PM just saved us I wanted to roll the tenancy agreement over to periodic, not their policy and they had already arranged resigning (they liaise with my Brother as he is in the same town) one month later tenant wants to move, current tenant is covering costs of finding new tenant and Click already has someone lined up subject to credit check. More than happy with their service.
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