private letting agent - keen to hear tips and experiences

[IFM]

I'm considering the use of a "private letting agent" to find a tenant for a property in West Auckland and possibly continue on to do inspections on a regular basis. We've managed our own properties to date but time is more limited these days. Keen to hear from people who have used private letting agents before - any tips or observations? Any recommendations for letting agents who service West Auckland?

[Davo36]

You mean a property manager? Why are you using the term "private letting agent"? Is this an overseas term?

Heaps of people use property managers, my one is: Neil O'Connor, Property Management NZ, 0274-935-039.

[IFM]

Hi Davo, no not meaning a property manager, probably should have said a "casual letting agent". Someone who just finds tenants, but doesn't go on to manage the property after that.

[Learning]

"private letting agent" to find a tenant for a property in West Auckland and possibly continue on to do inspections on a regular basis.

Including on going inspections implies more of a PM role than just a letting agent.

There's a couple PMs around here (North Wellington) who offer a letting agent service. They'll will find, vet new tenants and once in place relinquish management duties. I've never used them but heard mixed reviews. The feeling is they're not as through in this role as they are when they are the PM. Possibly because they don't need to clean up the mess if things go wrong but are willing to 'come to the rescue' for a fee.

[Rentex]

We offer casual letting - find a tenant service.

RE: Learnings comment on mixed reviews... There are always two sides to a story. Sorry if this comes across overly defensive.
We would never recommend a tenant that we wouldn't put into one of our own personal rentals or managements. To do so would reflect poorly on us even though we weren't managing it and potentially could have achieved a better outcome. Not to shoot myself in the foot, but there are a lot of excellent private landlords out there who we work for.
We will discuss a tenant with the owner and if the owner doesn't heed our advice there is not much we can do.
Sometimes it's making the best of the situation given the limits imposed on us whether these limits are under the owners control or not.

[SPerfect]

By the sounds of it, you're wanting to use a property manager. Just interview a few in your area and see what you think of them - ask them what they do with a bad tenant etc, you want someone that has experience

[FJW]

My advise is don't do a general listing and open it up to other agents, just do an exclusive listing. Logic for this is that if other agents get involved then the vetting process can be rushed and not as thorough just to beat the other agent(s) to finding a tenant faster.

There are certainly loads of agents out there that do casual letting / property management and the process would be exactly the same way as you would find a normal full time property manager in the sense that you sit down and interview them to get a feel for them, ask for recommendations and to see their processes for different services etc.

[Rentex]

Good points FJW.
You will also find that doing a general listing will dilute the feedback you get as each agent will only be able to give you part of the story rather than the markets overall impression of and feedback on the property.
We will generally decline a general listing as a single letting fee is not always enough to cover the time spent by single agent, let alone multiple agents.

Trademe and realestate.co.nz provide reports which can be passed on to owners as well.
Ask your property manager what they will provide, the process from start to finish, when will update you on progress/happenings, etc.

[FJW]

If your going to be managing the tenants I would be across the tenant selection and have a look at the references. Everyone' expectations are differen't what is to be considered a bad tenant by your standards may not be a bad tenant by the letting agents standards.