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  1. #1

    Default Expectations from a Property Manager

    I have been using the same PM for 3 years now to manage 2 properties in Glen Eden and Avondale and I am struggling to get the service I want as a non resident landlord - wondering if I am expecting too much or if anyone can recommend a PM in West Auckland who I could look at changing to.

    As a non resident I really rely on the PM to be on top of the issues relating to the properties and I expect to be fully informed along the way of what had been done and why - an example, inspection report shows and issue, PM should be highlighting this to me and suggesting what to do, they organise someone to do the work, get quotes, get sign off from me (unless its urgent work in which case they use my authority to get it done and tell me afterwards), let me know the work has been done and inspect the job at the next inspection (although they are using their pet tradesmen so they should know that a job will be well done).

    What I am getting is me highlighting an issue I see from reading the inspection report. Me sending repeat emails asking what is happening. Me sending reminders to get work done. Me getting very high bills taken out of the rent with no quote or notice before hand or even notification that the work is done - just me asking why the rent is short and then being told what was done.

    I am also finding I have to prompt every year to get the DVS and alarm systems serviced and follow up on every request, I even have to remind them the lease is due and ask them to contact tenants to resign. The first PM I had at the company was great, there have been 3 since she signed me up and they have not been very efficient.

    So am I expecting too much - or is there someone out there who will give me what I want - and if so, who are they.

    Thanks for all suggestions.

  2. #2
    Join Date
    Apr 2004
    Location
    Auckland
    Posts
    1,922

    Default

    No they're pretty much useless part time.
    Probably why they get paid so much!
    Last edited by donna; 04-12-2011 at 09:40 AM. Reason: derogatory
    The three most harmful addictions are heroin, carbohydrates and a monthly salary - Fred Wilson.

  3. #3
    Join Date
    May 2008
    Location
    Torbay, Auckland
    Posts
    3,906

    Default

    Strange but I have recomended now 3 times on property talk my property manager - I mean today sorry

    They are lovelly, they are really good and my make my life easy.

    Check my referal on their website as it explains why I think they are so good.

    http://www.pedersens.net.nz/

    I put another investor on to them, and he is going to buy me a beer when he gets back from oversease
    Last edited by Bluekiwi; 18-08-2011 at 11:22 AM.

  4. #4

    Default

    No, Not expecting too much. If they don't learn and improve, then change them. It sounds like you are at that stage.

    No point paying an Agent if you up doing it yourself.

    TD

  5. #5
    Join Date
    Sep 2010
    Posts
    236

    Default

    They are taking advantage of you being a non resident - find someone else....but you are not alone!
    - we even had missing rent when we lived overseas....we used what we thought were a big reputable company - but headoffice in nz and oz didn't want to know -- took them to disputes tribunal and won!
    we had high bills for work done just deducted from our rents, missing rent (despite the fact that all tenants were long term - 2y+) fake inspection reports (we only found out later they were fake after return to nz and talking to tenants in person!), $ 100pw less on rent (pm when question answered he offered them a discount as they were long term - huh? each year we had received less rent due to property being empty????) etc....it is sad that some pm take advantage of owners who live overseas -change the pm & company! the cheeky pm tried to tell my wife she simply didn't understand (as she is a foreigner) how things were done (she has two degrees ) and I couldn't help myself but to chuckle when she replied to that in the tribunal: 'I am sorry to break this to you but two plus two does equal four no matter where on Earth you come from or what language you speak!' (regarding the missing rent)
    Oh and if you are forwarded any bills - repairs etc ALWAYS query it and ask for tenant contact details - fire off an e-mail you might save yourself some $$$

  6. #6
    Join Date
    Sep 2004
    Location
    Central Otago, ChCh, AKL
    Posts
    2,443

    Default Some good articles about property management that may answer your questions.

    Some good articles about property management that may answer your questions.

    1 Questions to ask a prospective property manager (article is on my website)

    2.Is your property manager working for you?
    There are some excellent property managers out there and the best ones seem to be able to put their clients first while successfully running their own business. Is your property manager working for you or themselves?
    This is a quick questionnaire which will highlight how much your property manager is working for your benefit. To answer these questions, you may have to quickly check out your property management companies’ website.

    Are there plenty of good quality photos on the websites when your property is being advertised? 20 is the maximum trademe allows so between 15 and 20 would be ideal...{..}

    3. Dunedin Property Management Cos
    As with any profession there are good and not so good Dunedin Property Management companies so it is essential to check them out thoroughly if you are to entrust your investment houses to rent in Dunedin, or portfolio with them. All management companies complete the paperwork, collect rent, process bonds and do the odd inspection. They will all respond to a call regarding a repair and organise the tradesmen. But is that all that landlords and tenants are looking for? [.....]



    more articles and info can be found on my website
    Last edited by donna; 03-10-2011 at 09:45 AM. Reason: Linking to your own website! Not allowed - share the info here please - thank you.
    New Zealand's #1 Marketplace for Property Investors & Sellers!
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  7. #7
    Join Date
    Jun 2011
    Location
    Nelson
    Posts
    18

    Default

    Opps I have re read, you are correct Perry. Thankyou
    Re education, very little. I need to proof read before i click go.
    Last edited by zchick; 02-09-2011 at 09:31 PM.

  8. #8
    Join Date
    Sep 2004
    Location
    Hastings
    Posts
    14,986

    Default

    Please tell me what your level of education is.
    I agree that using tried and proven tradesfolks
    is a good tactic. From many, many threads on
    PT, it's fair to say that the general standard
    of Property Management reported here is quite
    appalling. One or two clear exceptions, but the
    overall standard is pathetic.

    That doesn't mean anyone has to apologise
    for another in the industry, though. Do have
    a read of the thread containing this post.
    Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

  9. #9
    Join Date
    Jun 2005
    Location
    Nelson NZ
    Posts
    3,864

    Default

    If you folk knew how some owners act you would understand where some PM's are coming from.
    In the last few weeks the following things come to mind.
    One owner turned up from overseas and moved a bunch of back packers onto the site to destroy the garden. The owner moved a caravan onto the site and was living there all the time telling us he was not living there.

    Another owner will not approve essetial repairs. When we send a builders report to them reporting serious leaking and rotting all they can do is say get some more quotes. Like we just love getting quotes then not ever giving the work to people.

    Then another client wanted to know why we had not got several quotes for replacing simple electrical items. They wanted to know why the tenant who had died had not given us three weeks notice of tenancy termination.

    But then it is not all bad. Some other owners reacted really fast and authorised serious maintenance at some properties. It is very difficult trying to explain to some people simple stuff and remembering that they are our clients who put food on our plates.

    We had one client leave their flat empty for 8 months rather than spend 5 weeks worth of rent on repairing the rotted out shower linings.
    some people are beyond comprehension.

  10. #10
    Join Date
    Jun 2011
    Location
    Nelson
    Posts
    18

    Default

    Thanks for the link Perry, after a quick read of a couple of pages im getting the direction of what you mean on education. (I will read better latter)
    A heck of a lot of the education comes form actually owning a couple of rentals yourself, it gives a whole other perspective over a 20ish young person just out of school just cant give.
    I sympathies with NIK and the appalling experience of management. We are not all like this
    After a hard couple of months with the general Mad behavior as mentioned by Glenn I sometimes feel the need to defend my industry.


 

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