Property management

[007Chip]

I just started a new job as a property manager, happy to answer any questions about my experience. I also am looking for an investment property of my own. How property management companies work is very interesting.....

[erinak]

New Prop Manager

I just started a new job as a property manager, happy to answer any questions about my experience. I also am looking for an investment property of my own. How property management companies work is very interesting.....

Yes, I'd be happy to know how you work in relation to your actual property owner?

Prop Manager seems to be the go-between and nothing else in-between her and prop owner with me in the middle.

[Dood]

I would be interested in learning more about your job too.

[Keys]

I just started a new job as a property manager, happy to answer any questions about my experience..

Give us a brief history of your experience then.

[Learning]

Give us a brief history of your experience then.

Comes in all keen and full of promise but once the questions start coming he goes quite and stops responding.... yep, sounds like an experienced PM. 😋 (The exception being current company of course.)

[007Chip]

Thanks Keys for the sarcasm, apologies for the delay in reply I have other commitments, like family.

What I have seen is that if you don’t want the hassle of dealing with constant repairs, tenant problems then a Managed property is worthwhile. If you have a newer property then you could manage it yourself, older properties with more issues will require more time, and more organisation with maintenance and repairs. PM have the ability to get issues dealt with in a timely manner, however the lack of tradies means plumbers, sparkies builders etc can charge the earth for small jobs.

However using PM companies won’t necessarily guarantee that you get a good tenant. We have a list of tenants behind in rent, obviously going through the 14 day process which takes time. All the initial due diligence can only provide so much unless you have a crystal ball.

Routine Inspections are thorough and photos and notes are taken at every inspection, and a report provided to the landlord. These are routinely every 12 weeks. This complied with insurance requirements and keeps track of the condition of the property.

Overall I would recommend a PM especially if you have an older property and want repairs completed in a timely manner.

[erinak]

Comes in all keen and full of promise but once the questions start coming he goes quite and stops responding.... yep, sounds like an experienced PM.  (The exception being current company of course.)

Early days yet Learning.Yes, you are learning......

[erinak]

Thanks for the enlightenment 007Chip.
My case is different in this case, where the Prop owner has done work on his adjoining flat causing damage to mine in the process.
And refuses to repair as I am uninsured - fully paid mortgage.
However, he did the repairs without my permission of the involvement of the consequences to my property.
Still working on it.
Cheers

[Perry]

Maybe - Maybe Not

What I have seen is that if you don’t want the hassle of dealing with constant repairs, tenant problems then a Managed property is worthwhile.

A very broad generalisation, that.

It could be re-phrased thus:
Unless you want the all-take-no-give-and-no-responsibility-COST-PLUS-PM hassle of dealing with repairs, costs, tenant problems, etc., then a self-managed property is worthwhile.

Always exceptions, of course.

[Keys]

I just started a new job as a property manager, happy to answer any questions about my experience. ..

Question asked and ....................

Thanks Keys for the sarcasm,

How do you think that reads to me?

1) do I feel like helping if you have issues?
2) do I just block you?
3) do I ridicule you if/when you make a mistake?
OR (what I usually do)
4) Assist freely with information based upon my experience (read my posts if you want to).

What would you have me do?

Keys

[007Chip]

To answer your questions ,
I am not sure how it reads to you, it’s how you interpret it.

1. I haven’t asked for your help, and thanks, but I don’t need it.
2. Block me if you feel the need.
3. Ridicule me if you want
4. Or assist me if you want. I don’t mind.

I see you have spent time helping your community. I also have, for the past 13 years. Don’t be to quick to judge those who you don’t know.

[Bob Kane]

Why did you start this thread?
Do you want to share your experience or are you asking for help?

[nick000]

Comes in all keen and full of promise but once the questions start coming he goes quite and stops responding.... yep, sounds like an experienced PM.  (The exception being current company of course.)

haha I know what that's like!

[donna]

Okay so what you may have worked out here Chip is ProperyTalk is an established forum (nearly 20 years old) and it has users with lots of experience in 'all things property investment' including running property management businesses. Our forums are for sharing information, experiences and insight. Oh and we sometimes have a laugh too.

Thanks for joining and we look forward to your contribution.

cheers,

Donna