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  1. #11
    Join Date
    Oct 2008
    Location
    Auckland/Melbourne/ whereever the money is
    Posts
    1,380

    Default

    If your intention is to sell the property then there may be some advantage in having a PM associated with a real estate agency, but in my experience RE PMs have too many distractions, such as the sales you suggest, to fully concentrate on your property.
    The first question I would ask of potential PM is how many other properties do you personally look after and what is the property per person ratio. I have found RE PMs often work on over 100 each, that is not a lot of time for them to be thinking about your property, & they become just a tenant finder and rent collector.
    If they are spending their time finding new tenants for their other places then as long as your place isnt causing any problem then it is unlikely to get any attention - squeeky wheel syndrome.
    The bigger RE places may have a slight advantage of attracting more prospective tenants, but in the end everyone advertises on Trademe, and thats the first place tenants look, so an independant probably has just about the same chances, especially in an environment of rental shortages.

    Ask the PM what their tenant checking procedure is. Both RE & Independants should have the same capability of doing credit checks, Facebook / internet searches, tenancy tribunal case lookups etc.

    Next find out what maintenance skills they have personally or in house. I have found too many PMs are very quick to be spending MY money, with little accountability & little incentive for them to minimise My costs. They are quick to contract out to their favourite tradie, and i have heard stories of kickbacks from tradies to PMs.
    I had one PM that thought nothing of a quote for $150 to replace a light fitting, when all it took was the glass from a $12 light fitting from Bunnings.
    I have a central Auckland PM who has some basic maintenance skills who can take care of simple little jobs like light bulb changing, shower slider replacement etc, stuff that anyone with a few skills can easily do, but that many PM simply call up a tradie at $100 callout & $100 /hr.

    Another important question is the safety of your rent, is it in a trust account. A few years back a Hamilton PM ripped off many of the owners by not paying their collected rent to the owners and took off with the money.
    Watch the big guys here, they are quick to say the rent is in a separate account, but in fact all monies from all the properties come into a single account and there can be difficulties with separation of your funds from every other owners funds.

    There are numerous other things to consider as well, I'm sure others will chime in, including, can you work with that person, sometimes personality clashes cause troubles.
    Last edited by Keithw; 05-11-2017 at 08:18 PM.

  2. #12
    Join Date
    Nov 2015
    Posts
    208

    Default

    Greetings,
    Friends have an upcoming opportunity they are taking advantage of, which means they will need the services of a PM. Have read through this thread but no real recommendations jump out, so instead of starting a new one I figured I'd revive this one.

    Will look at the IPMA site tomorrow, but if anyone can recommend a decent PM who covers the Mt Wellington area that would be appreciated for me to pass on.

    Cheers.

  3. #13
    Join Date
    Mar 2010
    Location
    Lower Hutt
    Posts
    374

    Default

    Not sure what the industry norm is up in Auckland in terms of lock in periods with their contracts but negotiate a periodic contract so you aren't locked into a period so if you aren't happy you can easy exit. Go with the one you get the best gut feeling with and if you aren't happy give them notice.

    In addition, do a search of their hearings on the tenancy tribunal data base and read through the recent hearings and you'll get an idea of how credible they are.
    Fraser Wilkinson
    www.managemyrental.co.nz
    Wellington / Lower Hutt / Upper Hutt / Porirua

  4. #14
    Join Date
    Nov 2015
    Posts
    208

    Default

    Cheers for that FJW.

  5. #15
    Join Date
    Mar 2010
    Location
    Lower Hutt
    Posts
    374

    Default

    Let me know who you end up going with as I always have clients asking me for recommendations on an Auckland PM so would be good to have a good one that I can refer to
    Fraser Wilkinson
    www.managemyrental.co.nz
    Wellington / Lower Hutt / Upper Hutt / Porirua

  6. #16

    Default

    Hey Nick,

    Find On google or any search engine...

  7. #17
    Join Date
    Sep 2008
    Posts
    7,523

    Default

    in the central city

    am happy using

    this small, newish outfit

    https://www.oneciti.co.nz/
    have you defeated them?
    your demons

  8. #18

    Default

    Reposting something I said in 2016 here.

    --------

    When you think you've found a PM, do a search in the TT database here for their name, and then read the rulings. Pay attention to:



    1. any patterns of bond not lodged,
    2. uncertainty about exactly what the rental arrears are
    3. how many weeks rent was owing
    4. whether the property was found abandoned.
    5. getting the timing wrong on serving notices
    6. exemplary damages awarded against them
    7. failure to win at the TT because the condition of the property wan't recorded and / or photographed at the start of the tenancy.




    1. is a no go.
    2. is a no go.
    3. IMO, if they're on to things immediately for any missed rent payments they will get quicker TT rulings, thus reducing your exposure. You can often work out from the ruling how many weeks in arrears they were. My personal opinion is that 3-4 weeks is great, 5 weeks is 'Crap, but oh well', and 6 weeks plus is a definite warning sign.
    4. length of time to discover abandoned properties, or many abandoned properties should be another warning sign. If people do a runner, they don't carry on paying rent. And if they haven't paid rent the PM should be investigating and should spot that the property is empty pretty quickly.
    5. is 90% a no go
    6. mostly a no go, although occasionally the TT can be a bit harsh, especially with tricky / convoluted cases.
    7. depends on the circumstances - the TT can be a bit fickle about how much is good enough.



    If you do this you should get an idea of how switched on / organised the PM is. One caveat though - it's a bit harder for the larger agencies, as it can vary by agent / office.

    From memory, last time I looked, Rent Wellington looked fairly impressive. I found one or two real shockers too, so it pays to do your due diligence.

    -------------

    Oh - and ask to see a sample tenancy agreement. At the very least, if it doesn't have a 'joint and severally liable' clause, plus a 'tenant liability for collection costs' clause as a minimum I'd walk away.

    And if you really want to dig - ask to see their terms and conditions for a fixed term tenancy. If it has one of the three clauses listed here it's a fairly good plus in my book.

  9. #19

    Cool Just Do these Things

    Quote Originally Posted by QuickPickNZ View Post
    Hey everyone,

    I'm interested in finding a good property manager in Auckland, but I'm faced with 100's of choices! Does anyone have some advice on how to go about selecting a property manager? I've read all the common articles on what to look for and so on, but there are so many companies and all their sales pitches sound the same.

    Is there a way to objectively compare companies?

    What process did you guy's go through to find a good PM?

    Thanks for the help!
    Go Google and search it or find new Property management company. Which company have little customers who can do best choices...In starting many company have no one or less projects. So they focus on his work and regular check it. So You should Try new property management in auckland.


 

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