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  • #16
    Originally posted by deechnz View Post
    Both PMs are with Ray White in diff towns.
    I knew it.
    I bloody well knew it.
    Ray White! The sods!
    I used them once for property management and the little bills for bits and bobs which came in under the $500 mark, and thus did not require my authorisation, came in constantly.
    Every month those little bills added up to several hundred. And Ray White clipped the ticket on them for 12% I think.
    Eventually I realised that those 12% margins on a few hundred dollars a month on top of the PM fees took Ray White's fees to about 9.5% of gross rent. When I worked it out for each month it started to look like they were actually doing it on purpose, targeting a maintenance spend which would add an extra 2.5% of gross rent to their monthly revenue.
    Needless to say I changed PMs. In the two years since I changed I haven't had so much as ONE unauthorised maintenance bill.
    Last edited by Perry; 03-07-2018, 05:02 PM. Reason: moderation

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    • #17
      Originally posted by deechnz View Post
      I'm getting emails from PMs telling me that I need to pay $250 per house to get them surveyed for asbestos, and another PM who offered $350 per house to get a 100-point safety check done on 12 hazard areas. It seems never ending.
      Saying that you "need" to pay versus offering a service is very different and sounds like they are pushing for payment rather than providing you with facts on what's needed!

      I suggest you go back to these agents and ask for clarification to help you make an informed decision before going ahead with any of these services.
      www.PropertyMinder.co.nz
      # Property Management
      # Ad Hoc Tenancy Services / Rental Inspections / Terminations and Notices

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