What you SHOULD look for in a PM

I read a lot of posts and even recommendations about what makes a good PM, and I feel that many have it completely backwards.
As it happens, I have recently experienced the other side of the coin. We sold our home, and have been renting whilst making other plans.
I know that our PM is highly regarded by her landlords, but from a tenant perspective I have found her to be rude, discourteous, inconsiderate, unhelpful, and frankly downright incompetent. So sure, many landlords value a PM who treats tenants like dirt, but I think its highly counterproductive. Keep in mind that I have been a landlord far longer than I have been a tenant.

Tenants come in all shapes and sizes. They occupy the full spectrum from scumbags to gold-plated.
So which ones do you want to rent your house? And which ones do you think your obnoxious cow of a PM is going to attract?? The gold-plated variety, or those so desperate they will take whatever they can get?

 

I couldn’t agree with this more!

It makes no sense to mistreat your ‘customers’ - if you are in the ‘business’ of property investing, that tenant is your core customer. Looking after them will result in tangible (financial) benefits as well as less tangible benefits like they may care for the property better or also stay longer than if they are not treated as well well

 

I find that most PM's treat "gold-plated" tenants like gold and "scumbag" tenants like dirt.

So which one are you?

 

If a PM can:
1. get back to me in a timely manner,
2. get my rent to me on time
3. follow my instructions efficiently and use some common sense and
4. Offer a competitive rate

that's all I can ask for these days. Many, if not most PMs simply do not have the time/business/ investor sense or GAF (give a f...) factor beyond that. Its the reality.

 

Common sense is highly valued here

 

Very simple,a PM that has the balance to deal with the problems as they come,and the cheques go in on the first week of each month..

 

100% Agree. Not only is it the right thing to do to treat tenants with respect, but it makes our job enormously easier if we have happy and cooperative tenants!

Many PM's are constantly rescheduling inspections, can't get in touch with tenants, have problems with organising maintenance, can't get early access to re-advertise and regularly attend tribunal because the tenants aren't inclined to cooperate.

 

Exactly my thought! Had been reading many posts in finding a good PM, and from memory none has stressed the treatment of Tenants. I agree, some Landlords still think they are "LORD". One particular Owner insisted we simply issue an Entry Notice to fix the tap instead of consulting the Tenant for a suitable time. We know this Tenant well and the delicacy, but he thought we "side" the Tenants..... Perhaps we are only very tiny agency and tends to get a bit more personal than the big companies, but yes, we treat our Tenants like human being, until such time they prove not worthy of it....

 

Fun game. Walk into a real estate
1. Say you're looking to buy
2. Say you're looking to rent


that's how you choose a pm

 

Unfortunately it's not easy for landlords to truly know whether the PM has a good working relationship with tenants. I ask sometimes how the tenants are doing but the obvious reply is "good", until its not and they vacate at lease end without a reason and fail to return keys and access cards.

 

One indication is to find out who really is the person dealing with the Tenants. It may or may not be the person sending you the emails. Many PMs only do desktop management; they probably never met the Tenants after the first inspection.....

It's worthwhile to have a chat with the PM once in a while, best done in person even just for the very first time. But at least have a talk on the phone. Ask question that leads to longer answer but not a Yes/No answer. Note Onsite Managers tend to have a lot more contacts with Tenants.