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Bendigo Property Manager Recommendation's Please

Discussion in 'Property Management' started by ww2_nut, 27th Oct, 2015.

  1. ww2_nut

    ww2_nut Member

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    Mildura
    I bought an IP in Bendigo on the weekend and I'm wondering if anyone with an IP could recommend a PM whom they use.
    Appreciate your feedback
     
  2. abbyfresh

    abbyfresh Well-Known Member

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    You won't find any true Rental Only businesses in Bendigo (without a sales division attached). You can try Bendigo Property Plus or LJ Hooker. Vacancies are quite high, so market is very patchy at the moment, without knowing what you bought and what rent you're aiming for.
     
  3. DaveM

    DaveM Adelaide Buyers Agent & KFC Strategist Business Member

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    I use bendigo real estate who have been excellent.

    I initially used barry plant who were rubbish once i had a house trashed and put it in the too hard basket resulting in a 6 month vacancy
     
  4. ww2_nut

    ww2_nut Member

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    Location:
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    Property is a 2 bedroom unit/ townhouse in strathdale
     
  5. Beelzebub

    Beelzebub Well-Known Member

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    Hey, ww2_nut. What's the market in Mildura like? I've thought that might be a place worth investigating for a cash flow positive IP purchase. Any insights?
     
  6. ww2_nut

    ww2_nut Member

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    mildura market is moving along quite strongly. Growth has been around 10% this year and showing no sign of stoping : rental demand is incredibly strong and also showing no sign of slowing :. market is all good here
     
    Beelzebub likes this.
  7. ww2_nut

    ww2_nut Member

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    Update.
    Heading to Bendigo in the next few weeks to interview PM'S.
    I have shortlisted Emma Wilkins from Luke Goggin R/E & Breanna Attard from Elders
    Will update once I have made my decision
     
  8. Shawn

    Shawn Well-Known Member

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    If you don't mind me asking ww2_nut?
    Why Bendigo when Mildura is kicking along?
    Unless of course it was a mortgagee sale :p
     
  9. Jamie_

    Jamie_ Well-Known Member

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    Had experience with LJ Hooker, would not use again.
     
  10. ww2_nut

    ww2_nut Member

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    Location:
    Mildura
    Went to Bendigo to diversify my holdings. Don't want all my properties in the one spot
     
  11. ww2_nut

    ww2_nut Member

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    Don't plan on using or even interviewing LJ Hooker. They seem too unprofessional.
    A few people have told me to avoid them
     
  12. abbyfresh

    abbyfresh Well-Known Member

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    Didn't LJ take over the defunct RW Bendigo rent roll last year ? How did that pan out.

    The market there needs a real shake up with PM standards. Some mobile guys manage stuff their from Melbourne.
     
  13. Gim hwee lim

    Gim hwee lim Member

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    I have my fair share of experiences dealing with property managers in Bendigo for my brother's houses.

    You cannot expect that type of aggressiveness and pro-activeness from the rental managers here as compared to those in Melbourne. They are uncontactable after 5pm as well as on weekends. Their management fees are also higher than those in Melbourne. Perhaps competition here is less stiff?

    Anyway, I think Bendigo Real Estate and to some extent DCK are pretty good here. They are big and have a wide network to solicit tenants for you. But whoever you choose, bear in mind that vacancy rate is Bendigo now is very high, possibly 7%?? So you must have realistic ideas about how much you're going to rent. It is common for a house to be vacant for months to be rented out. And this situation doesn't seems to be ending anytime soon.. So if you're thinking of investing here and buy houses, be aware of this fact. There might be better towns to put your money to, esp if you're thinking of shorter term investment.
     
  14. abbyfresh

    abbyfresh Well-Known Member

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    New infill developments are hitting market at faster rate than population growth. This is main current issue. Tenants are gold, so you can't jack the rent up there every 6 months thats for sure.
     
  15. Gim hwee lim

    Gim hwee lim Member

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    Yes. It seems to me the building spree now is getting out of hand - over supply of new houses from new estates and newly subdivided lands all over Bendigo. Worse is that this spree don't seems to slow down... It's killing the rental market!
     
  16. ww2_nut

    ww2_nut Member

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    Location:
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    Update:
    Just got back from a few days in Bendigo, interviewed 2 agents, that being Emma from Luke Goggin R/E & Rory from Ray White. Both seemed very good and were very informative.
    Emma offered 6.5% + GST & Rory offered 6.6% inc GST.
    Both have similar other fees and charges.
    At this stage I'm leaning towards Emma as she has more experience.
    I found that Bendigo R/E do have a lot of rentals but have a HUGE turnover of staff in there PM section. For example one agent I talked to personally manages 326 properties on her own.
    DCK also have a big rent role but also have a bug turnover of staff.
    I am aware that there is a large vacancy rate in Bendigo at present. But I have factored this into my figures.
    My unit is near the Uni and is in a highly sought after area.
    Will keep you updated on who I go with and how long it takes to rent out and to who (uni student, etc)
     
  17. Gim hwee lim

    Gim hwee lim Member

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    Ww2 nut

    How much you paid for the property in Strathdale and how much you're hoping it will rent?