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passive property management

Discussion in 'Property Management' started by JDP1, 19th Jan, 2016.

  1. JDP1

    JDP1 Well-Known Member

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    A common problem id suspect faced by numerous owners with PMs is that a lot them are very passive in managing their property.
    My position ( group of 9 TH) is no different- the PM just waits for tenants to complain or request about xyz before doing anything...despite knowing that there are activities that should happen every year/scheduled eg keeping the common areas clean, gutter cleans etc.. the level of apathy and/or incompetence showed by the PM ( repeatedly over a long time) is bugging me...to a point where I question whether they are worth the money in BC fees. If I do go with a new PM, can anyone describe to the process I need to follow?
     
  2. Tony Fleming

    Tony Fleming Well-Known Member Business Member

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    You need to check your agreement with current agency. Normally a month should be the time you need to give before terminating an agreement. Before you do that you need to find a "better" agency though. once you've given notice they will arrange most of the other things for you aka transferring their names onto the bond deposit an contacting the tenant. Good luck
     
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  3. D.T.

    D.T. Adelaide Property Manager Business Member

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    To change :

    1. Give current pm notice (will say in your agreement how much)
    2. Sign agreement with new PM
    3. New PM will then :
    - collect file (ledger, bond info, lease, inspection info) and keys from other agency
    - introduce self in person to current tenant, provide new rent payment details, inquire any outstanding maintenance tasks etc
    - arrange bond transfer

    Did one of these this evening :)
     
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  4. D.T.

    D.T. Adelaide Property Manager Business Member

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    Hijacking your thread - can you go into more detail on this?

    Personally I'll give recommendations on reviewing rent, doing half/full yearly maintaince, updating aged properties, investment returns (and how they might be affected by things happening in area or by doing improvements), but that's because I'm an investor myself. I'm not certain if that's the kind of thing you mean or if you have any input / feedback I'd love to hear it.
     
  5. Xenia

    Xenia Adelaide Property Manager Business Member

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    There are many agencies that run an active business.
    Yes I agree lots has to be done to keep properties in a good condition and maximise your yield.
     
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  6. JDP1

    JDP1 Well-Known Member

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    Im talking about even the basic stuff... preventive maintennance such as gutter cleans, common shrub/area cleans, arranging for all units to get termite spraying etc...the more advanced stuff of suggesting things to us to improve the desirability/investmebt, updating , whats happening in a gentrifying area etc...that would be great. Thats cwrtainly awol..
    Im sure i can speak for others in the complex - we dont mind even paying more in bc fees...as long as the corresponding level of service matches.
     
  7. JDP1

    JDP1 Well-Known Member

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    I agree there are lots of good ones there..identifying them is the tough part when a lot say the same thing and give a similar impression.
     
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  8. D.T.

    D.T. Adelaide Property Manager Business Member

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  9. JDP1

    JDP1 Well-Known Member

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    D.T. likes this.