Choice of two PMs - Starr Partners or Ray White

Hi PC,

I'm in a pickle, house is almost ready to let and I've narrowed my potential PM's down to the two:
- Ray White Campbelltown
or
- Starr Partners Campbelltown

Each have offered me almost the same rate, fees, etc.
Both BDM's are great with communication, etc. However, we all know it's not the BDM that will manage the property, it happens behind the scenes.

Here is my analysis of the two

Starr Partners
Pros - less stock, less properties per agent, slightly better communication, rental listings appear to be a higher average than RY.
Cons - less stock, less exposure, not as many tennants on their rent roll

Ray White
Pros - more renowned within PC, quick turnover, fast paced, more exposure (another office opened in the area), more tennants on their rent roll
Cons - more stock, more churn and burn, I don't personally feel like they will analyse the market to push/pull rent prices.

Let me know your thoughts, we basically will be making the decision tomorrow.

 

Isnt this a pro rather than a con?

 

I'd choose Starr, mainly because I've had bad experiences with Ray White franchisees plus I think you and your tenants will get more personalised service if they've got a smaller rent roll. The main thing to look at is the PM who will be actually looking after your property:
- how old are they
- been in the job long
- male/female
- warm & friendly or cold & business like
- looks attractive or ugly (people tend to do the right thing by attractive people)
- how quick are they at replying to your emails
- run the same what if scenario past them and see how each reply

 

Based on the arguments presented, Starr.

However the main reason I pick any PM is based on the individual who'll be managing the property. Good back office support and processes is really important, but ultimately it comes down to the individual.

 

Thanks fellas

 

I would speak to those doing the actual PM work, everyone else is irrelevant.

Had many good talkers over the years who were dismal failures as PMs, pretty hard to pick, anyway you have miles of choice in capitals, so no big deal as long as they screen the tenant applications well.

 

Ask to speak to some of their clients

 

Many franchisees are simply local businesses with marketing, website and software support.

In the vein of @dabbler s advice, compare the experience of the PM who will be assigned to you. Last thing you want is to handed to a noob PM when you expected the senior property agent to be your day to day contact.

 

I'd be more interested in the individual property manager than the banner out the front of the office.

 

@TroySeven,
Which one did you end up choosing? How's your experience with them?

 

Interested to know who you decided on? As they were comparable in price, did you ask for further stats etc, ensuring the best value ie average time on market for a vacant property, arrears, tenant retention rate, ?

 

Reading this thread as I'm interested in how you went (a few years ago now).

RW Campbelltown, while a polished business has a lot of tenants/PM. I requested a rent increase late last year at the same time as renewing the lease. Lease renewed, no rent increase.... with the current situation, I think I've missed out until the market/economy settles....