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Rental property management

Discussion in 'New member? Introduce yourself.' started by Property-co, Mar 29, 2010.

  1. Property-co

    Property-co New Member

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    Hello everyone,

    I am new to this forum, so thought I should introduce myself. I am a busy mom who left work so I can be with my little one.

    I am planning to start a rental property management service where I will provide services from finding tenants to looking aftre the property which I will do for a very reasonable price.


    Your ideas, feedback on this is much appreciated.

    Thanks,
    Sharon
  2. Brent Van Der Wel

    Brent Van Der Wel Member

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    Welcome to the forums Sharon.

    It's amazing the amount of poorly managed property books there are on the market. Occasionally I have clients who want or need better managers for their properties. Great to see some enthusiasm in that space!

    Are you going to focus on service or price?


    Brent.
  3. CruzAccountant

    CruzAccountant Member

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    Welcome to the forum!

    Which area(s) do you service?
  4. wordmistress

    wordmistress Member

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    Hi Sharon

    Welcome to the forum! I hope you find lots of valuable information here. No doubt you will! All the best with establishing your business.
  5. Hair

    Hair New Member

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    Hi Sharon,

    I think that is a great idea. We've been in our rental for 4 and a half years and have recently been asked to move as our landlord wants to move back in and it is an absolute NIGHTMARE! I never get calls back from agents, they are never able to give me information on the property as they also view it on the inspection day! I think it's the real estate market in general is ridiculous (I'm turning 26 next week and feel like we're never going to own our own home).
    As a tenant I would already much rather deal with yourself than our current agent. It got to the point that the landlord and I cut out the middle man and just contact each other directly! I know you're probably looking at landlords more than tenants at the moment but I can promise you now - a good agent means a very happy tenant which then means a very happy landlord and more work for you! Can you tell I feel passionate about this :)

    Van
    Butterfly Effect Hair Design
  6. Property-co

    Property-co New Member

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    Hi Guys,

    Thanks heaps for the posts. I am glad to see there is so much interest in this area. I am still in the planning process of the business so have been really busy. I am located in Melbourne and planning to serve clients in North and Eastern suburbs.

    What I really want to give is excellent service to both landlords as well as tenants. Van, you are right. Good agent means happy tenant and a happy landlord. I've been in a similar rather a worse situation once where we were asked to leave when I was due in couple of months!
    I really want to make a difference even in a small way. So all the landlords out there, if you are looking for a genuine, flexible, hard working property manager whom you can rely on for a very reasonable price get in touch with me!

    Thanks again!

    Sharon
  7. Property-co

    Property-co New Member

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    Hi there,

    Thanks.I am currently looking at Eastern Suburbs in Melbourne and then exapnding to North Melbourne.
  8. Jake@EmroyPrint

    Jake@EmroyPrint Well-Known Member

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    Hi Sharon,

    Welcome to the forums!

    I love seeing businesses that focus and pride themselves of strong (and ethical) customer service!

    Keep us posted on how things go, we'd love to hear your progress =)

    Regards,

    Jake
  9. Kate DIY Property Manager

    Kate DIY Property Manager New Member

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    Hi Sharon,

    I'm also new to this forum and thought you might find this service handy for a novice property manager: www.rentwise.com.au

    I am also a novice, having recently begun self-managing my investment properties using Rentwise. So far it's been pretty easy and cheap.

    Good luck!

    Kate
  10. Ashley

    Ashley New Member

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    Hi

    I have experienced exactly the same with real estate agents doing such a poor job. I have a commercial property and was micro managing the agent. Have recently taken the management myself and it is going well.

    I have a business plan for a short term accommodation let to improve the service that is currently being provided in this area. What a shame I am not in Melbourne as would be looking to see if you wanted to go into partnership. Have run my own business solo and really want someone to share the journey with for this one.

    In Perth you need a Real Estate License to manage residential properties - do you require this in Melbourne?

    Ashley
  11. YoungNomad

    YoungNomad Member

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    Hi Sharon,

    I am the owner of Canberra's most successful boutique property management company, LIVEin real estate - www.livein.net.au -

    Feel free to email me to chat, I'm more than happy to give advice

    tamerik@youngnomads.com.au
  12. Scratch

    Scratch New Member

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    Hi Sharon,

    good on you for deciding not to sit at home and do bugger all, not that mums do that, better be careful how I word these things I could get myself into huge trouble with my missus if she read that, lol.

    I have recently started my own property management business, and as did you I thought it would be pretty basic, not sure whether anyone else has told you this but as soon as you start managing other peoples properties you need to have a real estate agents licence. In Qld it costs about 2k for the Cert IV Property course and once you have the qual you can apply for your RE Agent license which costs about $1500.

    Hope I haven't been the barer of bad news, if you have any other questions please don't hesitate to contact me. On the other hand, if you are ahead of me on this then I would love to hear back from you in regards to some of the challenges/hurdles you have encountered along the way

    cheers

    Shane Scott
    Scratch Property
    www.scratch.net.au
    Last edited by a moderator: Jul 6, 2010
  13. YoungNomad

    YoungNomad Member

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    Hey Sharon,

    A happy tenant and a happy landlord are not related at all.

    A tenant is happy if the maintenance is complete.

    A landlord is happy when the rent increase is done - which equates to an angry tenant (in 99% of cases).

    The two couldn't be more opposite if they tried.

    Furthermore, the landlord never knows if the tenant is happy - they would like to think so, but both are on completely different agendas.

    The true equation is .. happy tenant AND happy landlord = happy agent.

    It's an absolute minefield trying to keep both parties happy - it's a very, very delicate balancing act. At the end of the day, you work 100% for the client (landlord), not the tenant. You have legal obligations to the tenant, but you have to remember who pays your wages.

    Keep this firmly in mind - you will NEVER be a friend to a tenant, the job 100% stipulates that the tenant will hate you, no matter HOW HARD YOU TRY.

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