QLD Rental manager thinks I'm nuts

So got a call from my rental manager saying tenants are moving state so won't renew, however you can easily increase the rent by $15-20/week. It's basically 0% vacancy rate in the area, close to the Brisbane CBD. It's a house that's going to be knocked down and developed in 12 months. I said thank you but that's fine let's leave rent as is. She couldn't understand why I didn't want to increase. Tried to explain to her but she Just seemed shocked like I turned down the lotto or something.

 

*shrugs*

I guess from a PM's point of view, part of them doing their job well is getting the Lessor the best possible rent/tenancy agreement t&c's, and it sounds like they're obviously confident they can get the numbers for you

 

The PM is ticked off as you've cost them $1/week in commission.

 

Wow, interested to know where the house is located. With so much hype about rental gluts going on, it's pretty remarkable that your PM thinks you have so much room for increase. Welldone!

 

@Sackie, the difference is that I know you are nuts .

 

give me the $20 per week, and I will contact the PM and tell she can now relax!

 

Yes they're doing the best for me from a rental angle, but I need to look at it from a holistic perspective.

I'd rather below market rent so it rents faster. Also generally less expectations from tenants when rent is less than others on the market so they tend to be less pita this way. Place is also a little old so I don't want someone to pay top dollar as they expect top conditions and usually winge about everything.

 

Commission is Commission. 10 cups of latte a year.

 

Near Norman Park mate. Housing stock in rentals is very low.

 

As long as you know I'm the bigger nuts

 

We'll call you crazy, but we quietly love Landlords like you, helping us attract better tenants who are less fussy!

 

Speaking of nuts.

I thought I'd put my 5 cents in.

I can see where the PM is coming from. If they manage say 200 properties and they get every landlord to raise their rent $20 per week. Well that's an extra $280 commission (@7%) per week.

So I think it's more about the PM squeezing any extra dough they can. Sure there is the flow on to the landlord with a little extra cash. And of course the tenant gets shafted.

 

Tbh I mostly use PMs for collecting money, paying the bills, finding new tenants and keeping the buffer between the tenants and myself. All business/strategic/management decisions are left to myself because most of them are just not capable/bothered or have the time to make sound decisions.

 

Anything more than that, I have an asset manager, facilities manager and a wrecking ball

 

I’ve never had a PM object when I ask to put the rent at the lower end of the scale.

In fact, they are mostly delighted, saying it makes it much quicker and easier to rent, they get a lot of interest and are able to choose a quality tenant.

 

She didn't really object just recommended quite a few times on the phone to increase it and was quite surprised I wanted to leave it.

Most PM's in the past usually just recommended to leave it or a slight increase.

 

Please forward me the PDF titled " A guide to better understanding SNMs witty posts".

 

I am with you.

I fly “the helicopter” and pay PMs to “cut the grass”.

 

I didn't realise that @datto was a PM

 

Different sort of “grass” .