Top 10 reasons clients have transferred their investment properties over to me to manage.
I was recently contacted via LinkedIn by a property investor who was unhappy with her current Property Manager and was looking to change agents. After catching up with her to discuss the problems she was having and her needs moving forward, I heard the same story I’ve heard over and over again about what makes landlords transfer their properties over to me to manage.
Her issue was that she had 4 properties being managed by one of the larger agencies in the area and in the last 12 months had gone through 4 property managers. To make things worse, anytime she called her property manager, she wouldn’t answer her phone or return her calls. Even when escalating the matter, she was dealing with someone who knew nothing about her properties.
Here’s the top 10 reasons my clients move their properties from their current property managers over to me:
1. Lack of communication from their existing Property Manager.
2. High staff turnover and not sure who their Property Manager actually is.
3. Maintenance not being attended to in a timely manner.
4. Rent not being reviewed in order to keep up with market rates.
5. Property not regularly inspected by Property Manager.
6. Finding random charges on their monthly statements which they didn't approve.
7. Insurances, Council Rates, Bills and other expenses paid by the agency don't get paid in time and incur additional fee’s.
8. Property Manager doesn't “have their back” - always favouring the tenant.
9. Long vacancy periods between tenants.
10. Inexperienced Property Manager managing their portfolio.
If you’re experiencing any of these issues, then it's time we have a chat - 0401 062 523