Recommend Property Manager West Dianella, Perth

Hi all,

Just wondering if anyone can recommend a reliable property manager for the Dianella area in Perth? I've just bought a rental there but I live interstate, so I'm organising everything remotely.

Also, I'm looking to get the place rented soon after settlement, are there generally any issues with getting property managers to look through the place while settlement is still happening? Hoping to have a property manager lined up before settlement ends so they can take hold of the keys.

Thanks

 

For my rental property over there i use Paddington Realty , talk to Rob and tell him I sent you. Contact details here

 

Perth property managers are all greedy grubs imho. I would go for a fixed fee one 10% or 11%

 

10 -11% that sounds extremely high, I'm used to around 5% in SA.

 

Welcome to Perth! property management fees are very high here. Anywhere from 10-16%

 

Hi there,

I use Investor's Edge who have been absolutely amazing in multiple ways. Dianella is actually handed by Jo who is my property manager and honestly, you won't find better. She's an investor herself too which really helps and I can't fault them - and I can assure you I am extremely picky!

Jarrad runs a tight ship and is a serious investor himself too with skin in the game so he gets it from a landlord PoV as well which is very important.

Investors Edge Real Estate: Property Management Company in Perth WA

No referral fees or kick backs for me, just credit where credit is due.

Good luck!

- Andrew

 

Wow that is high! On the flip side the rental appraisals are coming in a lot higher then expected due to the demand for rentals in Perth at the moment. Wasn't expecting the place to come in positively geared, based on the numbers I've received!

 

I'd love to invest in Perth but the management fees make it not worth it.

 

If management fees are the reason for (or for not) investing in a property, then it's not a good investment.

- Andrew

 

Yes when you're paying 20% of your gross rent on management fees, then I would also say it's not a good investment

 

Where was 20% mentioned in Perth? My point was that if the property management fees make or break the investment i.e. extremely unlikely, then it's not a good investment. I was being slightly facetious in that no one should be judging the merits of an investment based on PM fees.

What if the property is worth $1m, growing by 5% p.a. and after said 20% management fees, it's still positively geared by $15k p.a. giving you an IRR of 6%+? Is it still "not a good investment"?

If anyone is judging whether or not an investment is good or bad by the % of management fees they are paying, they are simply focusing on the wrong things. IRR inclusive of CG and cash flow should be the focus, with management fees being a small part of that. Cash flow determination should be calculated on a gross, net and after tax basis, but most people don't do that. They miss items and get it completely wrong from the outset, then wonder why they are going broke later.

I can tell you first hand that I pay 20% management fees on one property in the US and it has been my absolute stand out performer by a long way in both cash flow and growth. It has fueled investment into other assets and areas and had I shied away from it based on one small part of the cash flow calculation i.e the 20% management fees, I'd be a lot worse off now.

If a buyer has to pay 10-12% management fees in Perth, and that is the market, and the property is a solid performer then so be it. Be an investor, not a speculator.

- Andrew