QLD Property Manager - Certain Property

Discussion in 'Property Management' started by Navjit, 6th May, 2020.

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  1. Navjit

    Navjit Member

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    Hey, has anyone used this property management company called Certain Property (Full Service Property Management From 3.9% | Certainty Property). They are claiming a few exclusive features but I am worried about the quality of PM.

    Some of the features they mention:

    Low fee guarantee
    We beat any quote
    A real rent guarantee
    No vacancies, arrears or falling rents
    No vacancies
    We pay the rent when your property is vacant
    No arrears
    We pay the rent if your tenant doesn’t
    Lock in your rent
    Protect yourself against falling rents
     
  2. Trainee

    Trainee Well-Known Member

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    Look at their office locations. Co working locations. Cool but how does that help for property managers?

    what areas do they service? All nsw qld and vic. How? They cant service all areas unless they partner with other pms, then how do they split their already low fees?

    Pm is a face to face service and very dependent on personal skills. Pass.
     
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  3. Scott No Mates

    Scott No Mates Well-Known Member

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    How many properties/pm?

    Severely undercutting other Qld PM's what aren't they doing?

    How do they guarantee rent stability?

    What are their letting fees?

    What are the other costs?
     
  4. Trainee

    Trainee Well-Known Member

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    How would they pay for rent guarantees?
    With their profits? (Low fees already).
    With insurance? (How are they paying premiums?)
    With their own money?

    Everything reads like a startup with a block of cash and running a loss to prove their business plan. Which is a fine way to start a business, but dont see how the business plan works.
     
  5. AaronCG

    AaronCG Member

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    Oh, it works, just in the short term. Then many landlords will be left holding the bag when the cash runs out.

    I love reading the small print....

    upload_2020-5-6_9-17-52.png
     
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  6. Trainee

    Trainee Well-Known Member

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    A small premium of a few percent, so equal to the management fee, doubling it?
     
  7. MB18

    MB18 Well-Known Member

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    'Just a few percent depending......'

    It sounds to me as though they are essentially offering some sort if 'rental guarantee' insurance policy 'starting from a few percent' and have a basic management company attached to it.

    Could be worth checking out, although I suspect all will be revealed in the pricing and other small print not mentioned on the website.
     
  8. Navjit

    Navjit Member

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    Good questions, thanks will ask.

     
  9. Navjit

    Navjit Member

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    Did check out the rental guarantee fee, was another 3% but they were willing to bring down to 5.9% for both. Seems really competitive compared to other agencies however again like Trainee and Aaron mentioned seems to be a start up and could run into cash flow issues after a while.
     
  10. thatbum

    thatbum Well-Known Member

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    Really? Are you assuming they would be just as good service wise as other agencies?
     
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  11. MB18

    MB18 Well-Known Member

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    Or could they be any worse one might sometimes have to ask?
     
  12. Navjit

    Navjit Member

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    Not assuming, just from price perspective. The quality of PM/service is just as, if not more important than the price. Hence wanting to find out if anyone else uses them, but best bet for me would be to ask them some more questions like Scotty mentioned.

     
  13. Robert Majewski

    Robert Majewski New Member

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    I haven't personally heard of this company, but that is an extremely low commission. A commission that low will mean one of two things:

    A) there's hidden fees.

    Or

    B) your property manager will look after a huge portfolio.

    To be blunt, assuming they don't have hidden fees, then that is way too cheap. I would recommend quality over price 99% of the time (if you intend to demolish the property in the future, then quality might not be as important for example). It's simply not possible to offer a high level of service with that commission. Each property manager would be managing 250+ properties. It may seem fine while everything is going smoothly and all your property manager is having to do is collect rent, but the moment you or your property requires some attention, issues will arise.

    Some good questions to ask:
    1) how many properties will my property manager oversee?
    2) what experience do they have?
    3) how long have they worked for your company and what is your staff turnover?
    4) do you outsource offshore?
    5) will i have a direct mobile number to my property manager?
    6) what will my total fees be annualised?
     
  14. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    One doesnt get what one doesnt pay for..................

    ta
    rolf
     
  15. MB18

    MB18 Well-Known Member

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  16. Tom Rivera

    Tom Rivera Property Manager Business Member

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    My understanding is that these companies tend to operate at a loss to grow an asset and then sell off, though the lenders seem to have picked up on this and are valuing these unsustainable businesses as worthless.
     
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