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  1. #1

    Default Property management

    I just started a new job as a property manager, happy to answer any questions about my experience. I also am looking for an investment property of my own. How property management companies work is very interesting.....

  2. #2

    Default New Prop Manager

    Quote Originally Posted by 007Chip View Post
    I just started a new job as a property manager, happy to answer any questions about my experience. I also am looking for an investment property of my own. How property management companies work is very interesting.....
    Yes, I'd be happy to know how you work in relation to your actual property owner?

    Prop Manager seems to be the go-between and nothing else in-between her and prop owner with me in the middle.

  3. #3
    Join Date
    Feb 2007
    Location
    Auckland
    Posts
    141

    Default

    I would be interested in learning more about your job too.

  4. #4
    Join Date
    Nov 2006
    Location
    Cyberspace
    Posts
    5,804

    Default

    Quote Originally Posted by 007Chip View Post
    I just started a new job as a property manager, happy to answer any questions about my experience..
    Give us a brief history of your experience then.

  5. #5
    Join Date
    Jan 2012
    Posts
    1,058

    Default

    Quote Originally Posted by Keys View Post
    Give us a brief history of your experience then.
    Comes in all keen and full of promise but once the questions start coming he goes quite and stops responding.... yep, sounds like an experienced PM. 😋 (The exception being current company of course.)

  6. #6

    Default

    Thanks Keys for the sarcasm, apologies for the delay in reply I have other commitments, like family.

    What I have seen is that if you donít want the hassle of dealing with constant repairs, tenant problems then a Managed property is worthwhile. If you have a newer property then you could manage it yourself, older properties with more issues will require more time, and more organisation with maintenance and repairs. PM have the ability to get issues dealt with in a timely manner, however the lack of tradies means plumbers, sparkies builders etc can charge the earth for small jobs.

    However using PM companies wonít necessarily guarantee that you get a good tenant. We have a list of tenants behind in rent, obviously going through the 14 day process which takes time. All the initial due diligence can only provide so much unless you have a crystal ball.

    Routine Inspections are thorough and photos and notes are taken at every inspection, and a report provided to the landlord. These are routinely every 12 weeks. This complied with insurance requirements and keeps track of the condition of the property.

    Overall I would recommend a PM especially if you have an older property and want repairs completed in a timely manner.

  7. #7

    Default

    Quote Originally Posted by Learning View Post
    Comes in all keen and full of promise but once the questions start coming he goes quite and stops responding.... yep, sounds like an experienced PM.  (The exception being current company of course.)
    Early days yet Learning.Yes, you are learning......

  8. #8

    Default

    Thanks for the enlightenment 007Chip.
    My case is different in this case, where the Prop owner has done work on his adjoining flat causing damage to mine in the process.
    And refuses to repair as I am uninsured - fully paid mortgage.
    However, he did the repairs without my permission of the involvement of the consequences to my property.
    Still working on it.
    Cheers

  9. #9
    Join Date
    Sep 2004
    Location
    Hastings
    Posts
    14,961

    Default Maybe - Maybe Not

    Quote Originally Posted by 007Chip View Post
    What I have seen is that if you donít want the hassle of dealing with constant repairs, tenant problems then a Managed property is worthwhile.
    A very broad generalisation, that.

    It could be re-phrased thus:
    Unless you want the all-take-no-give-and-no-responsibility-COST-PLUS-PM hassle of dealing with repairs, costs, tenant problems, etc., then a self-managed property is worthwhile.

    Always exceptions, of course.
    Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

  10. #10
    Join Date
    Nov 2006
    Location
    Cyberspace
    Posts
    5,804

    Default

    Quote Originally Posted by 007Chip View Post
    I just started a new job as a property manager, happy to answer any questions about my experience. ..
    Question asked and ....................

    Quote Originally Posted by 007Chip
    Thanks Keys for the sarcasm,

    How do you think that reads to me?

    1) do I feel like helping if you have issues?
    2) do I just block you?
    3) do I ridicule you if/when you make a mistake?
    OR (what I usually do)
    4) Assist freely with information based upon my experience (read my posts if you want to).

    What would you have me do?

    Keys


 

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