Why I gave up on property managers’: A landlord reveals all

A landlord has revealed to some key things property managers do wrong

When this landlord started receiving bills for unauthorised repairs, they realised something wasn’t right with their property management company.

"When I got a massive bill for an unauthorised repair in my inbox, I knew that it was time to ditch my property manager. The constant turnover in their staff and the lack of attention to detail had already got me thinking of alternatives.”

It turned out that the tenant in my property had been calling the property manager for weeks and weeks, with no reply. Growing frustrated at the lack of response, and with the property in urgent need of repair, they decided to go ahead and instigate the work themselves. They didn’t go through the quote process, and as a result the work was performed at far greater expense than it would have been if the property manager was doing their job properly.

I understood the tenant’s frustration completely, as the property manager hadn’t been returning my calls either.

I knew that I wanted to grow my portfolio further and I didn’t want to risk losing any more of my rental income on other people’s stupid mistakes. So I decided to take over the management of my two properties and self-manage them.

Almost 12 years later, and with six properties to my name, I haven’t looked back. That’s not to say that self-management is a breeze by any stretch of the imagination.

But for me, the benefits far outweigh the negatives. In a tight yield market, saving on management fees can be the difference between a positive and negative return. Sourcing tenants has become so much easier in the digital age. I use online property management software like RealRenta.

I can list on multiple websites to list my properties when they become vacant. Meeting tenants from the very first time they step foot in the house also affords you a sense of control over your assets that you would never experience through a property manager.”

Using an on line property manager like RealRenta just does all the hard work for you, from tracking the rent, doing the invoices and receipts and even sending out reminders and arrears emails/text messages It even sends out breach notices when rent is not paid and all automatically without you having to do anything.

Why not see what RealRenta.com.au can do for you and all the other benefits they have to offer.

Jason Gwerder
Friday, 9 September 2016

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