Advice from a property manager

Discussion in 'Property Management' started by Xenia, 14th Mar, 2017.

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  1. Xenia

    Xenia Well-Known Member

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    Useless to some, valuable to others.
    All good :)
     
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  2. SeafordSunshine

    SeafordSunshine Well-Known Member

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    Dear Xenia,
    no longer a Property Manager, but I do like to follow legislation changes.
    However for me, I think the best thing you can do is spend 'an age' on tenant selection, keep a diary...then after that go to the beach:)
     
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  3. tangy

    tangy Well-Known Member

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    agreed. my best friend got a PM job based on her answer that the number 1 job of a PM is to manage relationships first and foremost.
     
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  4. Xenia

    Xenia Well-Known Member

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    I love this.
    Real estate investing itself is really an investment in time and people.
     
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  5. Zoolander

    Zoolander Well-Known Member

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    That, and staying up to speed on industry trends and changes. Oh and knowing when to make decisions by themselves instead of asking for approval for basic stuff.

    People pay to have agencies because we don't have the time or interest in self managing whatever it is we want (tax, legal, property, advertising, recruitment etc etc).
     
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  6. Xenia

    Xenia Well-Known Member

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    ^^^^^^^^^^^^^^^^^^^^^^^
    This is the number one reason I started a property managent agency.

    I couldn't find one single office that could make descisions without having to get permission from me. I had a property vacant for 3 months because I was overseas and they couldn't get permission to re-let it.
    I had a property on the market for too long because it was "dirty" and they did not get it cleaned because I did not ask them to. (I never saw it, they did)

    I now make descisions for best outcomes and can make a descision to accept a tenancy, organise maintenance or advertise a property if landlords don't get back to us quick enough.

    I can handle angry landlords, but I can't handle the incompetency of letting a good tenant go or a maintenance issue not being addressed because landlord are too slow or too busy to respond.

    Disclaimer - I know all my landlords personally, I don't know how this model will work with a large rent roll of 2000 properties where you can't possibly know everyone :(
     
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