Anyone have feedback on Stake Property Management auckland?

[kazzp]

Just wondering if anyone has any feedback on stake property management? Their fees are a vast improvement on what I am presently paying (although I am happy with the service I am receiving from my current company) so would appreciate any feedback on this company.
If anyone has any other recommendations for a reasonably priced property management company that would also be appreciated. I am currently paying 9% plus a lot of other fees on top of this so it's getting a bit pricey and I'm investigating options.

[Nick G]

Why would you want cheap property management?

7.5% to 8.5% per year difference is $250 per year on a $500 pw rental. That's chicken feed compared to the value of your asset.
Why not find the best property manager and ask them to work with you?

[kazzp]

Agree so that's why I'm asking for feedback as cheaper doesn't necessarily mean bad and if I can halve my property management fees and the company is good why wouldn't I? Actually I stand to save $3000 per year as I am with one of the more expensive property management companies and I have several rentals so it would definitely be worth it potentially depending on the feedback this company has. Any feedback much appreciated!

Why would you want cheap property management?

7.5% to 8.5% per year difference is $250 per year on a $500 pw rental. That's chicken feed compared to the value of your asset.
Why not find the best property manager and ask them to work with you?

[PukekoManukau]

Hi Kazz,

If you are looking at property management firms I'd suggest doing a search for their company name with the Tenancy Tribunal search tool to see how they perform. The key things to look at are the level of rent arrears before the tenancy is terminated and the proportion of cases they have won. In addition, I would suggest getting a copy of the tenancy agreement and looking for an insulation and fire alarm clause as this shows they are up to date with the latest changes in the industry, and checking if they are IPMA or LPMNZ members.

We have worked with them before on a professional basis. We've rung to get reference checks and they had the information on hand for us which is a good sign.

Cheers
Jimmy
Pukeko Rental Managers

[PonsonbyPM]

Choosing a Property Manager is like choosing a tenant (but arguably MORE important!) Check they are a member of a reputable umbrella body - eg the IPMA. And feel free to ask for client (tenant) references.
9% plus add ons is very high, but read the fine print - this may include 3 monthly inspections for example.
You will generally find that the smaller operators have smaller overheads & give much better (personal) service. Good luck

[Rentex]

Jimmy's comment on searching Tribunal and seeing the tenancy agreement is a good idea. You could talk to the PM over the phone and if all sounds good then go and meet them, ask about forms...
Pluses and minuses to all-in-one fee schedules, mostly depending on the property condition. Normally any maintenance percentage fees are minor compared to management fees, unless you are regularly asking your PM to handle larger renovations/etc.

[Wayne]

Agree so that's why I'm asking for feedback as cheaper doesn't necessarily mean bad and if I can halve my property management fees and the company is good why wouldn't I? Actually I stand to save $3000 per year as I am with one of the more expensive property management companies and I have several rentals so it would definitely be worth it potentially depending on the feedback this company has. Any feedback much appreciated!

Have you asked them for a reduction?
Could be that your properties are great and easy to manage so they are happy to take less to keep your business.
Or it could be you are a shit owner and they feel they earn their keep.

I got 1% lower fees ages ago - when I asked they just said yes, little hesitation.

[FJW]

Hi Kazzp

I've heard of them but never heard of feed back about them.....

Just like what the others have mentioned, tenancy tribunal data base is a good place to start, also social media however what I find with social media is a tenant can be upset and disgruntled with a decision that has had an adverse effect on them due to a breach then they go on the likes of FB and slander the agent so it can be a bit one sided but if the agent has replied to the review then you will get an idea and feel for the company' practice and values etc.

If your happy with what your currently getting I wouldn't switch to a cheaper company.....the cheaper they are the more properties they have to load on their property managers which leads to short cuts and burnout.....