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Does anyone here manage a Townhouse Complex? Apartment? or student accommodation?

Discussion in 'Property Management' started by fullylucky, 21st Jun, 2016.

  1. fullylucky

    fullylucky Well-Known Member

    Joined:
    27th Jun, 2015
    Posts:
    413
    Location:
    QLD
    Does anyone here manage a Townhouse Complex?
    Apartment? or a lot (more than 20 people of student accommodation)?

    How are you finding it? Is it fairly easy to manage?
    What tasks do you find most difficult? What's the most dreaded tasks?

    Is managing an apartment similar to managing a townhouse complex? or way different? or pretty much the exact same thing?
     
  2. D.T.

    D.T. Adelaide Property Manager Business Member

    Joined:
    13th Jun, 2015
    Posts:
    5,604
    Location:
    Adelaide, SA
    Yes, i manage townhouse complexes in Adelaide
    Yes, but I'm good at it
    Pretty much the same. Mine aren't student ones though if that's what you meant?
     
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  3. fullylucky

    fullylucky Well-Known Member

    Joined:
    27th Jun, 2015
    Posts:
    413
    Location:
    QLD
    Hi Dav,

    That's incredible... so you manage more than one complex?

    Do you manage it solely by yourself? or do you hire staff? like a team? or do you work in a team to manage all the townhouse complexes?

    How many units in your letting pool? for these townhouse complexes?
    Over 50? or 100? or a small number?
     
  4. fullylucky

    fullylucky Well-Known Member

    Joined:
    27th Jun, 2015
    Posts:
    413
    Location:
    QLD
    When you rent out a property is it the law you always get 100% of the rent for the first week and 50% of the rent for renew lease? as letting fee / commission.

    Or is it not always the case? like some owners will negotiate? or it's always 100% and 50% for lease renewal? and the only area to negotiate on is the agent commission rate?
     
  5. Matt E

    Matt E Member

    Joined:
    19th Oct, 2015
    Posts:
    12
    Location:
    Brisbane
    I've looked after townhouse complexes for many years, currently looking after a complex that will have 100+ properties by the end of the year.

    Everything in property management is relative (staffing levels, etc) - and as D.T. mentioned above - the workload depends on your level of experience, skill, knowledge, etc.

    QLD commissions have been deregulated so there is no "standard" fees across the state - better to contact a few agents in the area and see what they offer, then ensure you can cover your expenses with a similar set of fees. You can always choose to negotiate on fees if you wish as long as you're not making an overall loss.

    For example, we charge one week's rent as a letting fee and nothing for a lease renewal because that puts us ahead of our competition in the area, and I want to retain the rentals inside my complex wherever possible.

    Feel free to contact me directly if you want more info on QLD complexes, body corp, etc.
     
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