Private Property Manager

For those with multiple properties in close proximity, is there such a thing as a private property manager, or similar?
We've got 2 lots of townhouses inner ring Brisbane, 11 properties, and paying over 20k after all other expenses for management.

I'd figure that a specific manager who deals with only a few portfolios may do a better job and be more economical.

Does anybody know if such a service exists?

 

Sounds more like a boutique PM agency rather than the franchises.

They will still have to cover all of the usual overheads (insurances, trust account, trust audit, software, re portals etc) so you may be paying a premium for the service rather than saving a dollar.

 

$20k for 11 properties, that’s about $1.8k each. If the rent is $450/week, that’s 7.7%, about the industry average. But most importantly, are they managed well? You can find someone who charge less but if they give you grief, that would cost more you emotionally.
There are some small operators , including semi retired, matured couple. You just need to pay attention.

 

Speaking as an ex PM its advantageous to work in an office with a sales team for both the sales team and the PM. The experience of the sales team is useful for a landlord thinking of selling an IP and the PM is useful to the sales team for buyers wanting to buy an IP and wanting to know how much it would rent for etc.

 

As a PM business owner and an ex-PM, I agree with @Pumpkin. The thing is, each property/tenancy requires the same amount of work. So from the business side of things, if the same agency managed all the apartments in the block but they were by owned separate owners, it's no different them being owned by one person. I also agree with Pumpkin re the point about them being managed well - if they are, stay. But if you leave, remember that discount agencies pay their staff less so they don't have good staff