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Gordon

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Gordon
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Re: Rice & Beans
Reply #90 - Oct 18^th, 2017 at 5:31pm

John Smith wrote on Oct 18^th, 2017 at 5:20pm:

Gordon wrote on Oct 18^th, 2017 at 5:19pm:

John Smith wrote on Oct 18^th, 2017 at 5:10pm:

Aussie wrote on Oct 18^th, 2017 at 4:58pm:

John Smith wrote on Oct 18^th, 2017 at 4:53pm:

Gordon wrote on Oct 18^th, 2017 at 2:36pm:

Another thing with lazy property managers in Sydney. Periodic inspections often don't happen. A good property manager is hard to find, a hard property manager is good to find.

Grin

true, but it has nothing to do with being lazy. A property manager can look after approx. 80 properties comfortably in a typical work week. Probably less with Sydney traffic. Someone pushing it may manage up to 100, but during busy periods (like when a rush of tenants move at the same time) they'd be hard pressed to keep up.

Most principals (owner of real estate office) however wants a manager to manage 120 - 150 properties, which means something has to give. I know managers who skip inspections and even skip background checks on tenants because they haven't go time.
I know off one agency in Broadbeach that at one stage had 2500 properties on it's books, and only 4 property managers. I wouldn't go near that place with your property Gordon, let alone mine.

My suggestion, ask your agency how many properties in total they manage, then look at how many managers they have. If the owner tries to skimp on property managers he simply doesn't care about your property

What is the typical % take of the property manager?

gold coast going rate is about 7.5% plus GST, there are some slight variations

some advertise 5%, but they're fill of poo. They either split the 'management' and the 'rent collection' of the property , or they charge you extra for everything they do. In the end it costs you more

7% here, some cowboys do for less but it ends in tears.

7% includes GST?

Ex GST. In Sydney a big reason for a rent roll is to get the sales they produce.

I forgot the actual LVR but banks will lend a lot to buy one.

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John Smith

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Re: Rice & Beans
Reply #91 - Oct 18^th, 2017 at 5:34pm

Aussie wrote on Oct 18^th, 2017 at 5:29pm:

John Smith wrote on Oct 18^th, 2017 at 5:25pm:

Aussie wrote on Oct 18^th, 2017 at 5:22pm:

John Smith wrote on Oct 18^th, 2017 at 5:18pm:

Aussie wrote on Oct 18^th, 2017 at 5:13pm:

.....and your average rental per property?

depends on the properties. Waterfront homes can rent for $1000+ per week, 1 bedroom units for $250 per week ..

I know what my average is but I'm not about to put that on here. Cheesy

Why not? It's not as though anyone knows who you are. It's also not going to tell anyone much, other than what they can extrapolate from the general figures you mentioned earlier.

then the numbers are no good to you anyway. Cheesy

They will be very good....in general/average terms.

Why so coy?

then make up a number you twat. I'm not giving you mine.

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I hope that bitch who was running their brothels for them gets raped with a cactus.

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John Smith

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Re: Rice & Beans
Reply #92 - Oct 18^th, 2017 at 5:35pm

Gordon wrote on Oct 18^th, 2017 at 5:31pm:

John Smith wrote on Oct 18^th, 2017 at 5:20pm:

Gordon wrote on Oct 18^th, 2017 at 5:19pm:

John Smith wrote on Oct 18^th, 2017 at 5:10pm:

Aussie wrote on Oct 18^th, 2017 at 4:58pm:

John Smith wrote on Oct 18^th, 2017 at 4:53pm:

Gordon wrote on Oct 18^th, 2017 at 2:36pm:

Another thing with lazy property managers in Sydney. Periodic inspections often don't happen. A good property manager is hard to find, a hard property manager is good to find.

Grin

true, but it has nothing to do with being lazy. A property manager can look after approx. 80 properties comfortably in a typical work week. Probably less with Sydney traffic. Someone pushing it may manage up to 100, but during busy periods (like when a rush of tenants move at the same time) they'd be hard pressed to keep up.

Most principals (owner of real estate office) however wants a manager to manage 120 - 150 properties, which means something has to give. I know managers who skip inspections and even skip background checks on tenants because they haven't go time.
I know off one agency in Broadbeach that at one stage had 2500 properties on it's books, and only 4 property managers. I wouldn't go near that place with your property Gordon, let alone mine.

My suggestion, ask your agency how many properties in total they manage, then look at how many managers they have. If the owner tries to skimp on property managers he simply doesn't care about your property

What is the typical % take of the property manager?

gold coast going rate is about 7.5% plus GST, there are some slight variations

some advertise 5%, but they're fill of poo. They either split the 'management' and the 'rent collection' of the property , or they charge you extra for everything they do. In the end it costs you more

7% here, some cowboys do for less but it ends in tears.

7% includes GST?

Ex GST. In Sydney a big reason for a rent roll is to get the sales they produce.

I forgot the actual LVR but banks will lend a lot to buy one.

banks love rent rolls. LVR used to be about 80% but it's been while since I've looked at it so it may have changed.

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Our esteemed leader:
I hope that bitch who was running their brothels for them gets raped with a cactus.

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Aussie Gold Member Offline OzPolitic Posts: 37678 Gender:	Re: Rice & Beans Reply #93 - Oct 18^th, 2017 at 5:36pm In fear, Mr Smith, you might be exposed as a typical rip off real estate bloke?
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John Smith

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Re: Rice & Beans
Reply #94 - Oct 18^th, 2017 at 5:40pm

Gordon wrote on Oct 18^th, 2017 at 5:31pm:

In Sydney a big reason for a rent roll is to get the sales they produce.

rent rolls are the foundations of any decent real estate agency. Sales goes through boom and bust (although Sydney hasn't seen a bust for a long time) and without a descent rent roll any agency overly reliant on sales will close as soon as the market stalls.

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Our esteemed leader:
I hope that bitch who was running their brothels for them gets raped with a cactus.

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John Smith Gold Member Offline Australian Politics Posts: 72209 Gender:	Re: Rice & Beans Reply #95 - Oct 18^th, 2017 at 5:41pm Aussie wrote on Oct 18^th, 2017 at 5:36pm: In fear, Mr Smith, you might be exposed as a typical rip off real estate bloke? yeah ... cause I've always given a sh1t what you think
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Aussie Gold Member Offline OzPolitic Posts: 37678 Gender:	Re: Rice & Beans Reply #96 - Oct 18^th, 2017 at 5:46pm John Smith wrote on Oct 18^th, 2017 at 5:41pm: Aussie wrote on Oct 18^th, 2017 at 5:36pm: In fear, Mr Smith, you might be exposed as a typical rip off real estate bloke? yeah ... cause I've always given a sh1t what you think What I think about your parasitic mob is what everyone thinks about any parasitic mob.
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John Smith

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Re: Rice & Beans
Reply #97 - Oct 18^th, 2017 at 5:54pm

Aussie wrote on Oct 18^th, 2017 at 5:46pm:

John Smith wrote on Oct 18^th, 2017 at 5:41pm:

Aussie wrote on Oct 18^th, 2017 at 5:36pm:

In fear, Mr Smith, you might be exposed as a typical rip off real estate bloke?

yeah ... cause I've always given a sh1t what you think Grin

What I think about your parasitic mob is what everyone thinks about any parasitic mob.

and what do people think about taxi drivers? Cheesy

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Our esteemed leader:
I hope that bitch who was running their brothels for them gets raped with a cactus.

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Aussie Gold Member Offline OzPolitic Posts: 37678 Gender:	Re: Rice & Beans Reply #98 - Oct 18^th, 2017 at 6:01pm Apparently much more than they 'think' about real estate arseholes.
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John Smith Gold Member Offline Australian Politics Posts: 72209 Gender:	Re: Rice & Beans Reply #99 - Oct 18^th, 2017 at 6:16pm Aussie wrote on Oct 18^th, 2017 at 6:01pm: Apparently much more than they 'think' about real estate arseholes. is that what the voices in your head are telling you?
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Aussie Gold Member Offline OzPolitic Posts: 37678 Gender:	Re: Rice & Beans Reply #100 - Oct 18^th, 2017 at 6:25pm John Smith wrote on Oct 18^th, 2017 at 6:16pm: Aussie wrote on Oct 18^th, 2017 at 6:01pm: Apparently much more than they 'think' about real estate arseholes. is that what the voices in your head are telling you? No. Link. Obviously, Cabbies were not even on the list of dodgy arseholes.
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John Smith

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Re: Rice & Beans
Reply #101 - Oct 18^th, 2017 at 6:34pm

Aussie wrote on Oct 18^th, 2017 at 6:25pm:

John Smith wrote on Oct 18^th, 2017 at 6:16pm:

Aussie wrote on Oct 18^th, 2017 at 6:01pm:

Apparently much more than they 'think' about real estate arseholes.

is that what the voices in your head are telling you?

No.

Link.

Obviously, Cabbies were not even on the list of dodgy arseholes.

if that makes you happy Cheesy

you're still not getting my numbers. Grin

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Our esteemed leader:
I hope that bitch who was running their brothels for them gets raped with a cactus.

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Aussie Gold Member Offline OzPolitic Posts: 37678 Gender:	Re: Rice & Beans Reply #102 - Oct 18^th, 2017 at 6:40pm It puts you in your place, "Bucko."
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John Smith Gold Member Offline Australian Politics Posts: 72209 Gender:	Re: Rice & Beans Reply #103 - Oct 18^th, 2017 at 6:41pm Aussie wrote on Oct 18^th, 2017 at 6:40pm: It puts you in your place, "Bucko." given that I don't give a fluck what you think, how does it do that exactly?
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Aussie Gold Member Offline OzPolitic Posts: 37678 Gender:	Re: Rice & Beans Reply #104 - Oct 18^th, 2017 at 6:44pm It puts you in your place, "Bucko." Link.
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