Property Management
Hi Fraser,
Great thread. We have been involved in property full-time for over 5 years. We ended up purchasing about 70 properties in different locations in New Zealand, the majority being in Hamilton
We have experienced some good property management (which to be honest was quite isolated) and some really bad management.
We have had properties under professional management 'trashed' with tenants doing a runner and no bond left. All which could have been avoided with better management.
We have found the fees many companies charge to be excessive and their service to be inadequate.
Long story cut short, we have now formed our own company in Hamilton and decided to manage our own properties and other landlords investments as well. We are extremely 'pro landlord'. Gosh, someone has to be. You can only understand a huge 'nonsensical maintenance charge' when you are the one paying for it. We have found many property managers have no idea what a small maintenance job should cost, they simply hand over the landlords cheque book to the tradesman, well it feels like it.
Inspections should be FREE!! and they should immediately pick up any damage
Management should not be costing any more than 6%
A landlord should not be charged for the placing of a tenant.
Advertising should be FREE to the landlord
Managers should not have 250 - 300 properties each to attempt to manage, they do not have enough time to do them justice. Having that many means the manager gets paid well, but the recipient 'the landlord' is the one who is ultimately paying.
Property managers do not need to be greedy, they need to be property investors to understand property investors
Derrick & Robyn Marsters
Hi Fraser,
Great thread. We have been involved in property full-time for over 5 years. We ended up purchasing about 70 properties in different locations in New Zealand, the majority being in Hamilton
We have experienced some good property management (which to be honest was quite isolated) and some really bad management.
We have had properties under professional management 'trashed' with tenants doing a runner and no bond left. All which could have been avoided with better management.
We have found the fees many companies charge to be excessive and their service to be inadequate.
Long story cut short, we have now formed our own company in Hamilton and decided to manage our own properties and other landlords investments as well. We are extremely 'pro landlord'. Gosh, someone has to be. You can only understand a huge 'nonsensical maintenance charge' when you are the one paying for it. We have found many property managers have no idea what a small maintenance job should cost, they simply hand over the landlords cheque book to the tradesman, well it feels like it.
Inspections should be FREE!! and they should immediately pick up any damage
Management should not be costing any more than 6%
A landlord should not be charged for the placing of a tenant.
Advertising should be FREE to the landlord
Managers should not have 250 - 300 properties each to attempt to manage, they do not have enough time to do them justice. Having that many means the manager gets paid well, but the recipient 'the landlord' is the one who is ultimately paying.
Property managers do not need to be greedy, they need to be property investors to understand property investors
Derrick & Robyn Marsters
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