What to expect from a PM

I recently got my very first IP that settled early this week. PM had access to the property four days ago but only went to the property for the first time at the open home this morning.

Is this normal??

Also the online advertisement didnt show the scheduled open home until this morning..

 

They could have taken the time to have a look at the property. Viewing time is definately better if its scheduled in advance.

It all depends however, if there had been a lot of enquiries and they had been in communication with people to attend the inspection then they would get the outcome they need anyway.

Wait to see the results you get, this is more important than how they got there.

 

Pretty poor form if you ask me. How did they know they werent turning up to a mess or a blocked toilet or who knows what. And not giving 24-48 hours prior notice for a general open is poor too.

 

@DaveM yes I ended up driving there friday afternoon after work to check on it haha.

@Xenia you're right there may be other factors to it. I was thinking maybe the pm knows from experience it takes, say for eg, four weeks to find a tenant, and they are operating with this timeframe in mind. Hence the seeming lack of urgency. But as you have said, result will tell

 

Really good PMs who are proactive, have business sense for your investment and actually take the needed time to do a great job, are far and few between imo. By far, out of all the players in the property game, I am overall least impressed by PMs. Of course there are great ones, many on this forum are, but its often a 'try and see, then change if unhappy' proposition with them I have found.

When I find a good one proven by some time gone by, I always show my gratitude to them for doing a good job with cards and little other things.

 

Alarm bells went off at this bit. They probably take 4 weeks to lease *because* of their lack of urgency. Or if 4 weeks is common in the area, they should be putting noticeable urgency into it.

 

Even the most useless bumbling pm will eventually lease a property. The number of managements doesnt equate to competence.

But the ends dont justify the bits in between and you dont want a bumbling disorganised pm who is not able to push for the best result for you.

 

I would be asking the PM
1.what should I expect from you?
2.Can I have a timeline of proposed events?
3. Who will open for inspect? (Which staff member?)
4.What is the rental market like at the moment? ( how many enquiries do you get?)
5.What is the profile of tenants at the moment? ( eg. is there anything I should do to attract the best tenant for my purposes)
I hope this helps
cheers

 

I agree with the above - not good enough. Does not seem that they have been well organised here at all in getting your property ready or in advance. A pro active PM will try where they can to advertise and even arrange inspections prior to settlement (obviously if all parties agree) or at the very least, if the vendor doesn't permit inspections or adverting prior to settlement then yes ensure the advertisement and open home is online the moment it settles, and certainly inspect the property as soon as possible to ensure they know what they are soon to be trying to lease and if there are any issues with the property.

Jodi

 

Thanks for all the feedback. Appreciate your insights.

I engaged someone recommended on the forum for the area I bought in. They seemed professional and there was clearly a lot of drive at the start of the engagement which I was impressed by. So this sort of attitude is very puzzling, and I'm confused what to make of it.

See how things play out this week. Another problem to solve!

@SeafordSunshine Thanks for the list of questions.