Websites to assist with self-management

Discussion in 'Property Management' started by FirstIP, 27th Oct, 2015.

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  1. FirstIP

    FirstIP Active Member

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    Does anyone have experience with the following companies / websites for self-management:
    • For sale for lease
    • No agent property
    • Property my way
    • Renting smart
    • Eezi rent
    • Landlords choice
    • Cubbi (rent my estate)
    • All rentals
    Any feedback about the above would be welcome!
     
  2. neilo

    neilo Member

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    Anyone!?
     
  3. Scott No Mates

    Scott No Mates Well-Known Member

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    For sale for lease - I have received lots of calls wanting the opposite ie punters can't read.

    Their name confuses visitors to the site however I have used them a few times.

    They aren't management platforms they get you advertising space on domain & re.com.au
     
  4. Michael Mitchell

    Michael Mitchell Well-Known Member

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    Unless you know what you are doing, bad news - stay away.

    Pay peanuts, get monkeys.

    penny wise, pound foolish.

    If you want a professional result, pay a professional.
     
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  5. Fargo

    Fargo Well-Known Member

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    Just because you pay some-one doesn t mean you will get the best result. It is more likely you will get an inferior result. Plenty of PMs are bad news.
     
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  6. Michael Mitchell

    Michael Mitchell Well-Known Member

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    Oh don't take my word for it, just look at the spate of recent threads on this forum by self-managing landlords who have little idea getting done over by "professional tenants".
     
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  7. thatbum

    thatbum Well-Known Member

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    I'd disagree with this if we're talking in a broad sense.

    I'm usually the first to criticise the apparent abundance of unprofessional PMs, but if I was to take a typical self manager vs a typical PM, it would be no contest - most self managers wouldn't even have the faintest idea of where to start as soon an issue comes up with the tenancy.

    Imo, any "self management' tool that doesn't extensively cover the issues of what to do when things go south is a waste of time and money. And as far as I know, none of them do.

    Otherwise anyone can create a basic system to count the rent coming in and some reminder dates. That's not why self managing is hard.
     
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  8. Mel Morgan

    Mel Morgan Sydney Property Manager Business Member

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    I think some of these are advertising platforms, whilst others claim to assist self management generally via a payment system.

    I'd say if you're already comfortable with self management, then the exposure on realestate/domain is a good feature for exposure to reduce a vacancy. Also the ability for the tenants to pay via direct debit and be automatically reminded is helpful. But it doesn't replace what a property manager actually does, particularly around risk management, advice, strategy, decision making, and navigating through tenancy issues.
     
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  9. Scott No Mates

    Scott No Mates Well-Known Member

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    OTEN runs a property management course to give you the basics (up to agency standard).

    Linky
     
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  10. wylie

    wylie Moderator Staff Member

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    I've always self managed but in the past ten years I have at times paid a PM to find a tenant, do the paperwork etc. I've used Cubbi in the past and found it a good way to get on to the advertising sites.
     
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  11. TMNT

    TMNT Well-Known Member

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    Mr cynical for property managers here

    I think a bad pm will do a better job than an average self manager
     
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  12. hematite

    hematite Well-Known Member

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    I had issues with the tenant, and despite having a **** property manager, it was still much better than having to manage directly.

    I'd steer away from managing directly, unless that's your full time job.
     
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  13. dabbler

    dabbler Well-Known Member

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    This is true.

    But it is also true that the govt provides information not just for tenants, but also LLs...

    But you will never prevent or erase stupid.
     
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  14. MyPropertyPro

    MyPropertyPro REBAA Buyer's Agents Sutherland Shire & Surrounds Business Member

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    I think the key with most of these types of services is knowing and understanding exactly what they are providing, and more importantly, what they are not. Using Cubbi as an example (and FYI by all accounts they have done extremely well - many PMs would be very jealous of their growth numbers) when you read some reviews you can see a clear disconnect between what the landlord thought they were getting and what they actually got. Again not a reflection on Cubbi, many great reviews, I believe the problem was more than likely from the landlord end in terms of expectations and understanding the product.

    I believe we will see a lot more of these types of products and services entering the market over the next few years!

    - Luke
     
  15. Phar Lap

    Phar Lap Well-Known Member

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    and yet, we self managed and handled everything for 18 years over 5 properties without incident. Meaning we had "incidents" but we solved them in our favour every time and quickly.

    We also respected the tenants completely, let them know their rights and ours!
    They never had any thing ever to complain about with us because we stuck by the book and the rule of the law and kept reminding them of what may happen if they continue to be late in rent payment or not keeping the property tidy and clean etc.

    Id say the only tool you need for self managing is knowledge of your relevant tenancy act and the regulations surrounding it. Know it like a PM (is supposed to) knows it and you are a professional like they are or maybe even better as you will care more than they do being your stake on the line and not theirs.

    Throw in some people skills and away you go. happy days.
     
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  16. Michael Mitchell

    Michael Mitchell Well-Known Member

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    Property Management isn't rocket science, you just need to care, know what you are doing, have the right systems, processes and tools in place to do the job, and be able to deal with people from all walks of life. A lot of investors don't have time, don't have/care for the knowledge, don't have the systems & tools to do the job, which is why they outsource to "professionals" (someone or a business that does it as their profession, not necessarily experts).
     
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