Leasi property management

Discussion in 'Property Management' started by Dwest88, 29th Jan, 2018.

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  1. Dwest88

    Dwest88 Member

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    Hi,

    Has anyone got any experience with Leasi property managers. They are a Sydney based property management agency that manages properties Australia wide.

    Leasi.com.au
     
  2. D.T.

    D.T. Specialist Property Manager Business Member

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    Hadnt heard of them so had a read through their website. Doesn't sound like something I'd want to do for my properties - what attracted you to them?
     
  3. Dwest88

    Dwest88 Member

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    Hey DT,

    The thing that attracted me was their pricing, apart from a few 5 Star reviews on google I couldn’t find any more information on the net about the quality of their property management.
     
  4. D.T.

    D.T. Specialist Property Manager Business Member

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    Given that they run out of a call centre I dont think there'll be much quality there to be honest. Real estate is definitely a people game.

    If it were my property, I'd rather get someone highly recommended even if their pricing is higher. Eg my Perth and Canberra property agents where we have IPs are charging 9.9 and 8.8 respectively - less is available but I'd rather know its in good hands. I'd rather know that when I send an email, someone who is actually familiar with the property is going to read it and respond in a timely basis - and provide some proper expertise.

    I imagine this will get worse if/when they get bigger, imagine trying to get through to the call centre then - be like getting through to Telstra. And imagine trying to get transferred to someone whos familiar with your property.
     
  5. Dwest88

    Dwest88 Member

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    Thanks for your Insights DT.
     
  6. Ash Frenken

    Ash Frenken New Member

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    Hi DT,

    Thanks for your contribution, however it might interest you to know at Leasi we're not just a call centre. We bring together a team of full-time on the ground area managers, who are our local experts, a team of contact-centre based property managers and clever technology to service our landlords and tenants alike. Our team collectively have over 30 years experience in Property Management and in our nearly 12 months of operation, have delivered an NPS (Net Promoter Score - A customer experience measure) of +60, which is x10 better than the industry average for property management, being -6.

    Our model gives us the capability to deliver outstanding customer service to our tenants and landlords right across New South Wales, including all Sydney Metro, Wollongong and Newcastle.

    Would welcome an off-line chat at any time :)

    Cheers,
     
  7. TMNT

    TMNT Well-Known Member

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    have looked at and a few online only or non physically present i nthe area type of PM, over the years,

    cant see it ever working unless everybody starts doing it, or the indsutry is revolutionised,

    way too many negatives over posities
     
  8. Ash Frenken

    Ash Frenken New Member

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    There's certainly a lot of new entrants into this space, including us. I look forward to watching how the industry changes for the benefit of the landlord, and tenant renting experience
     
  9. TMNT

    TMNT Well-Known Member

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    im not trying to be difficult or be a knob, but that BOLD bits mean nothing , to address the issues with not having a physical

    the problem that most people have had with online only or non local present agents is all the problems associated with non presence, no expertise etc. etc.

    many have agencies who have followed this model have come with a bang and gone
     
  10. D.T.

    D.T. Specialist Property Manager Business Member

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    Especially given its in Philippines
     
  11. TMNT

    TMNT Well-Known Member

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    it does say "a team of contact-centre based property managers "

    maybe thats a clever play on words, I envisged a call centre in australia full of property managers

    but maybe im guillable
     
  12. Tom Rivera

    Tom Rivera Property Manager Business Member

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    Isn't that what every agency is? :p
     
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  13. Michelle Evans

    Michelle Evans Well-Known Member

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    Listening to some speakers lately at various conferences - many agencies outsource things to the Philipines - it's mainly paperwork based items - They're selling the service as freeing up property management to build relationships instead of spending all their time on paperwork. It seems to be the way of the future for large agencies to be able to afford to pay good money to good property mangers (as there isn't that many around - average pms get paid between $45k-$55k in and around Melbourne anyway, some companies go a bit higher - but good PM's don't work for that - so to afford good staff, the good big companies are thinking outside the square). I still think the property manager needs to be local obviously and they need physically attend properties (though some companies outsource this as well) to ensure they're able to provide quality service.
     
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  14. MyPropertyPro

    MyPropertyPro REBAA Buyer's Agents Sutherland Shire & Surrounds Business Member

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    For anyone who knows what an NPS is, that is actually phenomenal in PM. Credit where credit is due.
     
  15. mikey7

    mikey7 Well-Known Member

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    Is there any method of verifying this claimed NPS? Or is it an internal thing?
     
  16. Bob Dobalina

    Bob Dobalina Member

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    Anyone out there made the switch and can provide feedback?
     
  17. SarahD

    SarahD Well-Known Member

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    I recently saw an article about the 'For sale by owner' businesses losing money and not able to continue their business model due to the simple costs involved with selling a property. The first thought that came to mind for me - How can you pay your staff a decent wage, cover all overheads etc. and surely you would be running at a loss only charging those fees simply on advertising alone?

    I'd be interested to know how it actually all works, I appreciate your team collectively having 30+ years experience - how many team members is that? I ask because I once worked in an office that boasted over 60 years combined experience with 20 employees (very clever marketing until you think it out :) ).

    Who is on the ground doing in-goings, outgoings, insurance claims, tribunal hearings, going to properties to explore that bizarre water leak and explaining to the landlord and strata and insurance that there is a wet seal problem with the neighbouring property who doesn't have his own insurance and the neighbouring property owner is now dodging calls because they can't afford the repairs. Who attends the property when the police / fire department are calling because of a serious crime or fire? If my landlords called a call centre and weren't able to contact me directly in each and every one of these scenarios panic would ensue (and in some of these cases more than others - appropriately so!! ). Property Management is a huge amount of on the ground work, I don't see no matter how much the industry changes that the need to physically be at the property regularly. Are these people contractors or employees? Do you regularly meet with and review the work of all of your on the ground staff? Is the person who answers the phone going to be able to answer the trust accounting questions, give me some feedback on the current market and rental prices and give location relevant information or does the person I speak to have no knowledge of the property, statements, market etc?

    Different isn't always bad - but different will have to work harder to be appreciated!
     
  18. Scott No Mates

    Scott No Mates Well-Known Member

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    There's not enough fat in the model to cover overheads but they do little more than provide the gateway to upload your listing, add-ons include signage, promo materials etc so unless they're raking it in there it's no way they could continue on that model.

    Director with 50 years and 20 newbies?

    They don't so these tasks AFAIK
     
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  19. SarahD

    SarahD Well-Known Member

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    Pretty much - I'd been in the game about 5 years then and was a dinosaur. :D

    And here is my confusion, this seems to be a similar business model in many ways except that they are increasing their costs by actually managing the properties (?). Running a property management division costs money - a fair bit of money.

    I looked right through the website, I just don't understand how this works.
     
  20. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    Disruptor....That means build a IT platform so you can minimise people. Outsource a call centre to....Phillipines or India etc. Cut your fees and appeal to people who want to save a buck who then compare you with a bricks and mortar REA.... Thats a tough game. For those who manage a busy local agency they just laugh. Its like purple bricks and selling. Keep mentioning the cost saving and forget to tell people its a fixed (upfront) fee for doing little.

    The flaw in the model is access to tenants. Like renting cars from 10km away for the airport. You will pickup some tight people but the main guys pay for presence. They get the volume. And its why they charge extra. They do more.
     
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