Aryeh Posted February 18, 2013 Report Share Posted February 18, 2013 I know it's cheaper to manage your own property and you feel you have more say in what happens, but why wouldn't you take a property management company to take all the hassle off your hands? Interested to hear both pros and cons please. Link to comment Share on other sites More sharing options...
Richlist Posted February 18, 2013 Report Share Posted February 18, 2013 The problem is that you have incorrectly assumed that a property management company will " take all the hassle off your hands?". Often the truth is completely the opposite. Many companies don't have experience, knowledge, qualifications, suitable personnel, ability, common sense, admin skills, organising capability etc etc to deal with problems satisfactorily. Link to comment Share on other sites More sharing options...
Aryeh Posted February 18, 2013 Author Report Share Posted February 18, 2013 Do they not have more experience than a private individual? after all that's their job. It seems people are extremely unhappy with management companies at the moment, but are we expecting too much from them? Link to comment Share on other sites More sharing options...
Melboy Posted February 18, 2013 Report Share Posted February 18, 2013 It seems people are extremely unhappy with management companies at the moment, but are we expecting too much from them? Link to comment Share on other sites More sharing options...
Aryeh Posted February 18, 2013 Author Report Share Posted February 18, 2013 No, not if your paying for that service. If the company can't step up to the mark then they shouldn't be in business in the first place. Link to comment Share on other sites More sharing options...
Richlist Posted February 18, 2013 Report Share Posted February 18, 2013 but does that reflect on the general property management market? How can we as private individualls possibly answer that question accurately ? We haven't conducted a survey of a reasonable sample size of agents to determine what is 'general' in the ' market'. WE are expressing personal views and experiences. One would expect an agent to KNOW the basics.....often that is not the case. Link to comment Share on other sites More sharing options...
Aryeh Posted February 18, 2013 Author Report Share Posted February 18, 2013 but does that reflect on the general property management market? How can we as private individualls possibly answer that question accurately ? We haven't conducted a survey of a reasonable sample size of agents to determine what is 'general' in the ' market'. WE are expressing personal views and experiences. One would expect an agent to KNOW the basics.....often that is not the case. Link to comment Share on other sites More sharing options...
Richlist Posted February 18, 2013 Report Share Posted February 18, 2013 Well I think I've spent enough time answering your question.......as they say in Dragons Den...........I'M OUT. Link to comment Share on other sites More sharing options...
Aryeh Posted February 18, 2013 Author Report Share Posted February 18, 2013 Not that I got a very informative answer....it was more like...that's a silly question. Link to comment Share on other sites More sharing options...
Chestnut Posted February 18, 2013 Report Share Posted February 18, 2013 Aryeh, Pros and cons? Swings and roundabouts: Agent's expense weighed against owner's ability to learn and exercise sufficient d.i.y.management and legal knowledge. Then there's owner's distance from property, number of properties, confidence in local agent's ability to act quickly to resolve problems, etc. etc. All have to be considered. It's adequately clear from this forum that, in the rental business, some agents (and lawyers) can be a lot better than others. Usual advice offered is to check several. You can't generalise an answer to your OP. Link to comment Share on other sites More sharing options...
Aryeh Posted February 18, 2013 Author Report Share Posted February 18, 2013 Now that's more like an answer I was looking for...thanks. I got the impression that people were property management bashing... but seems like you only hear when people aren't happy...that's normal I suppose. Link to comment Share on other sites More sharing options...
Richlist Posted February 18, 2013 Report Share Posted February 18, 2013 I got the impression that people were property management bashing... Not at all. My response was as a direct reply to your initial post of..... ......"why wouldn't you take a property management company to take all the hassle off your hands?" That says to me that you assume a property management company would do exactly that and take all the hassle off your hands. Thats somewhat unlikely.....even with some of the best agents. My agents are great.....I'd recommend them to anyone, I've been with them for a few years now BUT they certainly don't take all the hassle off my hands. They aren't perfect, they have shortcomings but I know their weak points and act accordingly. I also know their strengths and what I can rely on. So yes, I think your question was a silly one. Link to comment Share on other sites More sharing options...
Aryeh Posted February 18, 2013 Author Report Share Posted February 18, 2013 touché. Although, I think if you find a really good property management company they will surprise you... Link to comment Share on other sites More sharing options...
Mortitia Posted February 19, 2013 Report Share Posted February 19, 2013 Unlikley! LOL Mortitia Link to comment Share on other sites More sharing options...
Aryeh Posted February 19, 2013 Author Report Share Posted February 19, 2013 see, I told you people aren't happy with management companies in general, I mean obviously everyone is trying to make money, but there must be some sort of good service out there... Link to comment Share on other sites More sharing options...
kerbut Posted February 19, 2013 Report Share Posted February 19, 2013 Sort of half wondering if Aryeh is a Management Company fishing for views. Link to comment Share on other sites More sharing options...
Aryeh Posted February 19, 2013 Author Report Share Posted February 19, 2013 Maybe I am, but I haven't mentioned any website or company name so who cares, If I wanted to advertise I'd say so... Link to comment Share on other sites More sharing options...
Richlist Posted February 19, 2013 Report Share Posted February 19, 2013 see, I told you people aren't happy with management companies in general, I mean obviously everyone is trying to make money, but there must be some sort of good service out there... Perhaps you can look at the recent train company survey........ thats an industry that has just had a proper customer satisfaction survey carried out with large numbers of train customers unhappy with the service they receive. Now, every time I travel on a train its clean, smart, on time and tickets are reasonably priced. Link to comment Share on other sites More sharing options...
Aryeh Posted February 19, 2013 Author Report Share Posted February 19, 2013 Maybe they should do the same with property management companies, do a large scale customer survey and that will pressure the companies to give a good service. Link to comment Share on other sites More sharing options...
Grampa Posted February 19, 2013 Report Share Posted February 19, 2013 Maybe they should do the same with property management companies, do a large scale customer survey and that will pressure the companies to give a good service. Maybe they should regulate the letting industry in at least the same way as estate agents. If the system allows anybody to rent a shop front and imply they know what they are doing as a letting agent, the industry will get a bad reputation (yes I know estate agent have as well but that is changing). But the client (landlord) still has to take some responsilibilty for crappy service if they dont check out and ask questions before instructed a agent Link to comment Share on other sites More sharing options...
Aryeh Posted February 19, 2013 Author Report Share Posted February 19, 2013 Thats true. If the landlord wants happy tenants he should definitely check out the letting company to make sure they do as they say. But a regulation of letting agents is a big job, not sure if its so easy. Isnt the property ombudsman for that? Link to comment Share on other sites More sharing options...
Chestnut Posted February 19, 2013 Report Share Posted February 19, 2013 Remark deleted - applied to earlier part of thread Link to comment Share on other sites More sharing options...
Grampa Posted February 20, 2013 Report Share Posted February 20, 2013 Thats true. If the landlord wants happy tenants he should definitely check out the letting company to make sure they do as they say. But a regulation of letting agents is a big job, not sure if its so easy. Isnt the property ombudsman for that? The ombudsman is just part of it and at present a letting agent doesn’t have to sign up to one. They are supposed to sign up for data protection but I know of a few agents that don’t. But if a agent is a member of Arla or Nals some of the requirements are they have to have certain levels of insurance, client accounts, client account signed off by a chartered accounted each year and with Arla a certain amount of training and qualifications. Link to comment Share on other sites More sharing options...
Aryeh Posted February 20, 2013 Author Report Share Posted February 20, 2013 Does that mean you'd trust an agent belonging to ARLA over an agent that doesn't? Is that a definite? Link to comment Share on other sites More sharing options...
Chestnut Posted February 20, 2013 Report Share Posted February 20, 2013 Aryeh- One cannot generalise! i.m.o. it's the performance and reputation of the agent locally that counts, not membership of an institution such as ARLA. ARLA members have a Code of Practice but from the first paragraph it would not appear to be mandatory. There are good agents who are not members of ARLA etc. Also note distinction between Managing Agents and Letting Agents. Whilst many do both, but some MAs are not LAs and possibly vice versa. You asked for opinions on pros and cons and you got some. Now you are phrasing your questions and comments just to seek the answers you want. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.