Why is it so hard to find a good property manager?

Like the good property mentors and educators the good managers manage their own portfolio rather than work for someone else!

 

Following on from Beano's comment:

I will say this not as something I believe in but as a useful anecdote:
An old client I used to work for in a previous profession one day talked to me about real estate (so we had something different to talk about other than work).
He was a well heeled investor it turns out living in a big house in Toorak (showed me photos-did I mention he brags?).
Had almost entirely commercial properties in his portfolio=around 10 or so in Melbourne's Eastern suburbs=offices and shops.
His argument was that the more 'switched on' people in real estate gravitate towards sales or running their own small agency, because they can use their intellect for greater use there to earn more.
As such all his properties were managed through one man band Ian Dungey. He used to have them with another agent but the 'CEO' (or whatever you call it in real estate) as the agency grew, stopped managing the properties personally and went into sales. And so the turn into high property manager turnover of his properties began and he didn't like this. Hence the switch.

Thoughts PropertyChat property managers?

 

I will add to my comment that I think it speaks volumes about today's real estate culture that the PropertyChat property managers we have on here are not from your big RayWhites, McGraths, Fletchers, Century 21's etc..

So much to living up to the 'we are there to help people' or equivalent mantras...

 

That's my observation as well. There's a lot of good PMs climbing the ladder out there, but they're always going to churn to the next agency with the better opportunities, income, etc. The business owner is the one who isn't going anywhere. They've also got a vested interest in keeping things running smoothly.

I've got an interesting example. A good friend of mine is a PM, runs her business and has a few staff. The property is quite well managed and I know I can pick up the phone, speak with the boss and things will happen. Then we'll go out to lunch for a catch up.

Despite being my best PM, over lunch she'll tell me about her business challenges and most of them are staff related. I've generally found her staff to be quite good, but they also want more pay, they're not the last one out the door, they'll leave unfinished work when they go on holidays.

The simple fact is if you want the best from any business, you need to be dealing with the people right at the top.

I believe you can also say the same thing about the buyers agents, mortgage brokers and accountants contributing here. It's the business owners, not the staff that are posting. Most property chat businesses are small and independant, not part of franchises. The person you deal with is predominantly the owner, not some social media manager.

 

I'm here because after almost 14 years with Pat O'Driscoll RE in Rockhampton, I'm looking for a new PM. Don't know what these 2 chicky babes think they're doing but I can't afford their rot anymore.
Tenant was evicted 27/11 with a month's unpaid rent + the house in a mess.
Property has now been vacant for 75 days, house STILL not properly cleaned, security fixes only completed on Friday, bond claim not lodged for 3 weeks, repairs were only partially done, and insurer won't pay until paperwork is finalised (fair enough too).
My bank account is now overdrawn.
This is a 3 bed/1 bath lowset brick house, not yet 20 years old, on 2 bus routes (1 to CBD, 1 to Uni) with convenience store nearby. Property managers treat like it's a slum.
I actually wrote to Pat 3 weeks ago because I thought he should know what they are doing for his business's sake but no response. The senior PM tells me she won't take it off the 2 chicky babes because they are the two who know the place (what a joke).
This has cost me real money - my husband is in early stages of Alzheimer's and we rely on that rental stream as part of our income. How do I work out costs to make a claim against PM for loss of income?
I'm not sure if I should wait til they find me another tenant or if I should notify to terminate now. Could anyone advise please?

 

FYI, I never haggle with them over their fees and charges, nor over getting work done on the house. NEVER. Until 2 weeks ago when I told them bluntly that I can't afford it anymore because I'm out of money.

 

Hi @Laura Lou, there's absolutely no reason for you to stay on with an agent if you've lost faith in their services. In fact, I'd suggest you've probably waited for a lot longer than you should have if it's been vacant for near to three months. A new agent who you have faith in should be able to find a better tenant sooner.

 

the reality is very few or virutally zero agents take responsibility for their screw ups
you can file a claim, write bad reviews, complain to head franchise (not in this case) to make a point, but I wouldnt hold your breathin getting compensated

14yrs with the same agent and to be treated bad is not on

Would suggest you find a good PM, as soon as possible, get the financial damage minimised as possible by getting it rented out, and then worry about suing etc.

 

Your not alone....I get the young PMs arguing with me and always defensive....but they can clean the mess.

 

Not quite the case. You can't judge all purely because we are working for large successful companies. Ray White employee here.

 

Do you see the irony in that was your first post....lol

 

I’m with a boutique and would never go with a big mob. I love the immediacy and relationship I have with my PM. And it’s not just her. Everybody I’ve dealt with in the REA from the owner to agent to PM are just really good people. They have gone above and beyond several times for me.

They understand that one of the keys to happiness and success is a mutually beneficial relationship.

From a SE QLD perspective, Tom seems a good sort on here too. He is on top of things and I always enjoy his informative posts. If my places were in brissie I’d def give him a buzz.

 

Just found this thread and it's a sad relief to know the sentiment is shared by landlords and not just tenants.

I've often thought to myself as a tenant 'I'm glad I'm not the owner'.

Even basic professionalism is rare, ie returning a phone call or email. I guess low barriers to entry and remuneration issues inevitably lead to what most of us have experienced too often as tenants or landlords.

Fortunately exceptions do exist from time to time, as seems to be the case with some of the PMs on this forum.

 

Its an industry where historically the staff are unexperienced and pushed to their limits. As an investor I just put up with it for 18 years or self-managed - didn't realise there could be such a difference until I started using @Tom Rivera and @D.T. Hence I was inspired to put my licence and experience to some use