"No i wont manage that IP for you" says PM

Discussion in 'Property Management' started by Darlinghurst Boy, 29th Mar, 2016.

Join Australia's most dynamic and respected property investment community
  1. Marg4000

    Marg4000 Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    6,377
    Location:
    Qld
    This situation is not unusual.

    Years ago houses in Queenstown (Tas) were going extremely cheaply. However no RE agent in town would take on management of properties there.

    No business will take on known problems, not if they want to stay solvent.
    Marg
     
    Jacque likes this.
  2. 733

    733 Well-Known Member

    Joined:
    22nd Jun, 2015
    Posts:
    567
    Location:
    Brisbane
    Indeed a full stop would have been most helpful :)
     
  3. Chilliblue

    Chilliblue Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    1,605
    Location:
    Australia
    @Darlinghurst Boy look at the experience as a positive. You could open your own PM agencies servicing those areas no one else will.
     
    Foxdan, Ardi, Marg4000 and 1 other person like this.
  4. kierank

    kierank Well-Known Member

    Joined:
    20th Jan, 2016
    Posts:
    8,414
    Location:
    Gold Coast
    Good luck with that. You will need it!!!
     
  5. Jacque

    Jacque Jacque Parker Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    2,652
    Location:
    Sydney
    Not uncommon for PMs to reject landlord clients in troublesome areas and I certainly see the smarter agencies turning business away, due to known and likely problems with tenancies. I'd be more inclined to consider heeding their advice and years of experience and possibly consider elsewhere if this is an option....
    Good luck.
     
    eskander and D.T. like this.
  6. Ted Varrick

    Ted Varrick Well-Known Member

    Joined:
    21st Jun, 2015
    Posts:
    1,941
    Location:
    No Mans Land
    DHB, sounds like arguably questionable risk.

    Maybe offer 30c on the dollar for purchase.

    Then hire your own security for the rent collection (and charge extra for "car body in the front yard" removal)...

    I genuinely can't quite recall the name of the business or businesses that provide a service like this, due to my photographic memory being a little out of focus, but, and don't quote me, you might need to do a search on Smith & Wesson...