Good evening property managers. I currently self manage 6 investment properties, have been managing 5 of them for 7 years and we just recently purchased another one to settle in 2 weeks. I have always used a local real estate as a letting agent to find prospective tenants however their fees are starting to increase to 2 weeks rent + GST. I have found the 'allrentals' website and wondered if anyone had tried them out and if they were successful? I did read a thread about people using Cubbi and I have looked at their website however I can't work out if they just charge a once off fee for advertising and screening tenants or if it's an ongoing fee? Thanks for any advice.
I've used cubbi a couple of times and have been very happy with them. I self manage so I choose a let only choice. I also find the site much easier to use than some others I have used.
Thank you Wylie, I'm glad to hear they have a let only option. Will have a look at using Cubbi as I've not been able to find anyone that uses Allrental.
Does anyone have any updated thoughts on Cubbi? Also is it ethical/ allowed for us to move our PM managed properties to Cubbi 6 months into a lease?
@jodes - do agents have ethics? There's no reason you can't change agents provided you give the appropriate notice.
Check the management agreement you signed with your property manager - some insist on a fixed management period (eg 12 months or 2 years). If there is no fixed management period, you just have to give notice.
Depends on the state- for example, fixed terms are the norm somewhere like WA, but illegal in QLD (we have a fixed 30 day termination).
There is really no money in letting once the time-cost is taken into account of opens in addition to fuel, advertising, lease and tenant processing etc. It's really just a cost covering fee for the agent for continuation of management. You'll find many agents charge 2 weeks for a casual letting fee with no management to follow as opposed to 1 for ongoing management, otherwise they will basically be working for little to nothing and sometimes a loss depending on market conditions.
