Real Estate Property Management Agents in Parramatta/Westmead area NSW

• 

  shortgum on 25/07/2015 - 01:21

  Have used agents look after units about there in years also with ourselves. get the cheapest one if you can e.g. flat 4.4% + no hidden fee or even consider DIY. NONE are really good for what the value you want from them. I SAY

• 

  UncommonName on 25/07/2015 - 07:29

  +1

  They all are the same, don't expect much.

• 

  jason101 on 25/07/2015 - 08:31

  +1

  Not sure why everyone around here hates "real estate agents", I think there are some misgivings about what these roles actual entail but anyway - bulletproof is actually talking about "property managers", I've worked in the industry my whole life (different areas of property sales / management of such businesses) my 2c about property managers.

  • They don't get paid much (the individuals), so don't expect Issac Newton to be working for you.
  • You don't pay much (in fees) so don't expect much (5-10% of total rent, tax deductible) - its really not allot of actual $

  What they do for you their fee (there may be things I've forgotten)
  - They facilitate the payment of all bills and outgoings on the property for you (when you get a few properties - the process of paying outgoings is actually burdensome)
  - They handle all the tenant complaints and requests
  - They shield you from 50% of the complaints and requests tenants make (as some are frivolous)
  - They arrange insurances for you and claim on such insurances for you if required
  - They facilitate cleaners when tenants move out
  - They have maintenance people on speed dial so if a tenant has an emergency at 3am on a Sunday morning - they sort it
  - They advertise the property / open the home / take tenant applications / screen tenants
  - They make the hard phone calls when the tenants don't pay their rent
  - They defend you at the tribunal when things go pear shaped (do you want to take a day off work to attend court?)
  - They provide financial statements so your tax is a breeze - income in / expenses out, monthly an annual summaries
  - Lodge bonds / correctly claim on these bonds if required

  Most importantly - BAD TENANTS seek out private rentals as most "I can do this myself" type landlords are the easiest to take advantage of by a tenant who knows the system.

  Ask yourself - If you've got a job, family, perhaps your own business as well, would you want to do all of the above for $20-40 per week (tax deductible). Once you get a few properties under your belt you come to appreciate how valuable the property manager is and how cheap the fees are relative to the work done.

• 

  bulletproof on 25/07/2015 - 18:19

  +1

  Jason,

  You are absolutely correct. Your list is pretty comprehensive of what they should do.

  Mine's not fulfilling many of these since why I'm getting the shits.

  For eg. Repairs unattended to for 8 weeks since I've instructed them to be done, I have never ever received a rental statement - only credits to my bank account, told to check if clients are staying at the end of their current lease which has now expired - no response, requested to lift the rent - no action.

  At 6%, I don't see the value for paying such a premium.