Rental houses, landlords, property managers?

[Flip]

I have been reading in the media about some of the things that have gone wrong with rental houses and espcially property managers. I am interested in our collective experiences.

I am a out of town Wellington landlord. I have just started using a rental management company to look after the property, from my perspective they are doing a good job. In the last 16 years I have had 3 tennants and one was only there 3 month before I kicked them out as they were very hard to get them to pay the rent on time. I have had a couple of vintage light fittings broken because they are a bit technical to unscrew and lower the glass shade out of but really there has not been a problem with any of the tennants ever. I don't charge or have to charge the market rent, I keep the house and grounds very tidy. The property has a 1.5 car garage in central Wtn but I have never had a motorcyclist rent it.

The last time I rented it out I posted the advert on Trade Me and took probably 200 phone calls in the next 12 hours before I turned the phone off. The first person who called me back and I liked got the house and she was there for 8 years.

The property manager has told me to put the rent up but I am very happy with the tennant and with what I am getting so I will hold off either until they move.

[RGVforme]

I had an agent guarantee three weeks rent in advance no matter what happens keep it honest and ment he screened anyone for debt Made sure they paid and I always got paid or had time to cope if they didn't.
They go around there when you cant for checks.

He had some renters move out early in lew? of bond and didn't go around to check they day they did go and they took all the door knobs bath taps curtains carpet and water cylinder and sold it for scrap and he had to pay for it to be replaced.

I like Rental Agents.

Agree good renters are hard to find and worth keeping.

[Tazz]

I used to manage some family property when I was younger and in my experience giving cheaper rent bites you in the ass. You can end up with the wrong sort of person however South Canterbury (pre EQ) is a very different beast to WLG demand wise. Glad it's working out for you.

I used to rent through Braziers Prop Mgmt in Chch, and they put me off it completely. They were right cunts from a tenants point of view and they were the reason we moved out.

From a landlords point of view I think they are brilliant so long as you check in yourself with the tenant every now and again to make sure everyone is happy.

What's made you decide to get one after all this time?

[Banditbandit]

I used an agency/management company - the property was not in the same city I lived in - NOT HAPPY

https://davidkanigan.files.wordpress.com/2013/06/not-happy.png?w=600

They didn't let me know when maintenance was needed, they organised for the lawns to be mowed regularly (tenants say it was lucky to be once a month - what the fuck was I paying for?) They were slow to pass on the rental money (minus their expenses) .. didn't let me know when the police kicked down a door at 3am with a search warrant - didn't let me know when tennants gave notice and left ...

I found all this out on one visit to the propetrty ...

So .. there will be good management companies and bad ones - I hit a bad one. But don't let that put you off. If you do hit a bad one, change them. (I sold the property a while ago ...)

[RDJ]

My bride & I used to rent out a house that we owned ourselves before we moved to a bigger one when we had three children, but after a couple of years of dealing with tenants we sold it. Why?

Rent not paid on time
Property not kept up (lawns, weeding etc)
While we promptly and - sometimes - expensively, addressed any maintenance issues, tenants would let water and rain and outside damage occur without notification or concern
Plaster and Gib walls were kicked in
Neighbours' concerns were ignored or worse, neighbours were abused
The property was reduced in value by derelict cars, discarded furniture, junk on the front lawn... And tenants (different ones) declined to see or solve the problems they or their 'extended family' (bah!) caused
Successive tenants seemed to feel it was their right / entitlement to rent from us, but they had minimal-to-zero obligations in return

Fine. Good luck with your next landlord.

[Akzle]

been on both sides of the coin.

i'm a motherfucking ideal tenant. fix shit for free, improve the grounds (hey, my weed wont grow in your shitass kikuyu clay soil shit aiight) and generally be a fucking badass cunt. and WINZ pays on time every week.

i've only had 2 cop raids on rentals, no property damage.


but fuck me, maggi two minute noodle dix real estate. you guys suck some fucking ass. getting "tradies" out FROM FUCKEN 60KM AWAY when there's a half dozen WITHIN FIVE MINUTES OF THE PROPERTY. not doing inspections, talking absolute horse shit about the market. skimmers. absolute uteless fucking pricks.

women and indians should not be allowed to own or manage property.

on the other side, there's some highly attentive agents to be found. inspections regular like. straight talking no BS, confirming (to the point of annoyance) bills for repair work etc.

but still. fuck tenants.

[RDJ]

Based on your online history & commentary, there is N O W A Y you would be anything near an ideal tenant - not even a tolerable tenant. If anything happened on the property you'd blame The Joos / the Zionist Conspiracy and take no responsibility for prompt landlord notification or trying to minimize damage.

[Flip]

My old house is a old simple two story house in the centre of Wellington. I brought it and fixed it up for me to live in. It used to be 3 bedroom and is now a 2 bedroom house but one bedroom is 6x6m and the other 6x4m. It has two bathrooms the upstairs has a old claw footed bath and the bottom with washing machine has a modern shower. It's a small city pad.

I won't let to students. I won't let to a group or collective. I won't let the palor (front room) or garage be sub-let.

I have had a lot of people try it on over the years. The funniest was a bunch of nursing students who seemed to be of the opinion they could dictate the conditions on a standard housing NZ lease. They got really in my face snotty when I suggested they should keep looking. I have had mostly really good tenants the best have been a courts officer and believe it or not a realestate agent and all women.

My first question these days after the small talk is what do you do for a job?

I went to a management company because; I know the Manager very well, he is actually my nephew in law. After 15 years away from Wtn I did not know what the place was worth. His fee was half what he gets for just the garage, which I have never thought about letting seperately. I really must however get in contact with the tannant and ask if they are happy.

[Flip]

been on both sides of the coin.

i'm a motherfucking ideal tenant. fix shit for free, improve the grounds (hey, my weed wont grow in your shitass kikuyu clay soil shit aiight) and generally be a fucking badass cunt. and WINZ pays on time every week.

i've only had 2 cop raids on rentals, no property damage.


but fuck me, maggi two minute noodle dix real estate. you guys suck some fucking ass. getting "tradies" out FROM FUCKEN 60KM AWAY when there's a half dozen WITHIN FIVE MINUTES OF THE PROPERTY. not doing inspections, talking absolute horse shit about the market. skimmers. absolute uteless fucking pricks.

women and indians should not be allowed to own or manage property.

on the other side, there's some highly attentive agents to be found. inspections regular like. straight talking no BS, confirming (to the point of annoyance) bills for repair work etc.

but still. fuck tenants.

My first question would be about your job? Also i'm not that keen on jap bike riders.

[Big Dog]

My first question would be about your job? Also i'm not that keen on jap bike riders.
He doesn't ride a Japanese bike.

Sent via tapatalk.

[Akzle]

Based on your online history & commentary, there is N O W A Y you would be anything near an ideal tenant - not even a tolerable tenant. If anything happened on the property you'd blame The Joos / the Zionist Conspiracy and take no responsibility for prompt landlord notification or trying to minimize damage.

yeah bro. internets is srs.

http://www.threadbombing.com/data/media/27/internets.jpg

and joos did it.

[Akzle]

My first question would be about your job?


WINZ pays on time every week.

my first question would be how someone as retarded as you swindled enough currency to buy title to property.

[Flip]

x3 actually. I worked relatively hard when I was young.

[F5 Dave]

Well Flip I'd consider being a property manager for you dwelling. I'm reasonably close.

Downsides:
I do own Japanese bikes, I think, still.
I'm a lazy MF and I'd probably never visit.
I'd want to be paid the same as my job now, but you'd be my only client.

Plus sides:
I've seen you drill holes in your ceiling to quell the leak upstairs. I'm not sure how that helps.

Do I get the job?

[Flip]

Well Flip I'd consider being a property manager for you dwelling. I'm reasonably close.

Downsides:
I do own Japanese bikes, I think, still.
I'm a lazy MF and I'd probably never visit.
I'd want to be paid the same as my job now, but you'd be my only client.

Plus sides:
I've seen you drill holes in your ceiling to quell the leak upstairs. I'm not sure how that helps.

Do I get the job?

Just one thing, you and I are not related (I hope). I just dont want you as a nephew (too old) and I don't luckly have a sister.

[RDJ]

So Akzle collects a taxpayer 'salary'.

No more needs to be said about reliability, responsibility, ownership, insight, or independence. He's another parasite on the body politic. (as if we didn't know that already)

[TheDemonLord]

From the other side of the coin - we have a significant customer base in the Real Estate sector, so I have been privy to the conversations from the other side (whilst onsite doing work for them).

It seems to me that like most industries you get:

10% who are worth their weight in gold
80% who are average - do an okay job
10% who are shit

One thing I did hear often is that it is not uncommon for Rental Managers to oversubscribe their services ie take on more properties than they can reasonably be expected to manage, apparently there is an ideal amount of properties per manager - but I can't remember what it was, there was some discussion as to whether a cap should placed on the number of properties. In any business, you pay more attention to your squeeky wheel customers and your high value customers. A lot of them also had contracts with Trades people/Handymen and so would often exclusively use them - even if it meant 60 Km in travel time - It's not ideal but then in any industry if you have a contractor you know and trust and are certain they will do a good job for a good price - why risk an alternative?

On the flip side of the coin - I've had 1 who was fantastic (relaxed and always gave me the opportunity to rectify a problem before she took it out of our bond) 1 rental manager who was okay, one who was a bit of a Bitch, one who was okay until it came time to repay my $2,000 Bond, then suddenly couldn't find my Bank account number etc.

[Voltaire]

So Akzle collects a taxpayer 'salary'.

No more needs to be said about reliability, responsibility, ownership, insight, or independence. He's another parasite on the body politic. (as if we didn't know that already)

Gewry is out on that one ...:innocent:

[F5 Dave]

Just one thing, you and I are not related (I hope). I just dont want you as a nephew (too old) and I don't luckly have a sister.

Bah! Favoritism.

[J.A.W.]

Just one thing... I don't luckily have a sister.

Luckily for her?

'cause the poor bitch would've long since had all her holes drilled, no thanks to you?

[Big Dog]

Bah! Favoritism.
Nepotism...

Sent via tapatalk.

[BMWST?]

we use an agent on a little place,the monies go in regular as clockwork,any maintenanace issues are rectified pronto,and a plumber and or electician always turn up on the day required.tenancies are always 1 year at a time

[rambaldi]

As a renter we have had a mixed bag of agents. Was renting an apartment, which had just been done up, and when we moved in there were a couple small niggles (the usual running toilet, a couple windows which were a bit fucked and needed a pretty tall ladder to fix, and some other things I can't remember) they sent some people decently quickly to sort it all out. A few months later and they want to do an inspection. No problem. Organise a time etc. but oh no they have lost their key so one of us has to be there all day to let them in. Happened again when we were moving out and they wanted pictures of the place for a new trademe add. Happened to some friends who were letting through the same agency. Either someone is sneaking some keys for a side business or they have a shit filing system. By the end the manager became a bit shit to deal with as well. There were so many people involved at the agency, different people showing the places, different people walking you through the agreements, different people doing inspections etc. You never knew who you were going to deal with each time something was raised. At least the tradie was consistent across it all.

Had second hand experience via the mother-in-law of the other side. Tenants that she thought were doing a good job but weren't. They place was a rotten sodden mess when they moved out from leaking pipes and ceilings etc. When we were informed of issues they were promptly fixed but we got the impression that the agent was playing the owner off against the tenant all the time and making away with a bundle for doing sweet fuck all. When all the damage came to light after the tenants moved out, the agent was changed and the new one seems to be doing a little better.

Do what you have done, if you find good tenants don't be a grinch with the rent. Don't price it too low to start with, but if you can swing it don't put it up at every chance. That is likely to push people out, even if it is only $5-$10 a week difference, that can make a difference to people on fixed incomes like struggling students (and no, not all of them are diabolical heathens, leaving piss and blood everywhere many particularly postgrad students are happy to finally have something not shit and stable)

[JimO]

absolute uteless fucking pricks.

you mean they dont have utes.......fuckers

[SVboy]

I keep the rents low on my properties. One tenant has been in there for over 10 years. Another tenant over 5. I maintain as soon as needed and both these tenants have an "ownership" pride in their houses. I have had some shocking tenants in the past. No way would I trust a management company unless I was 100% sure in their skills and ability. I much prefer giving them value for money, and getting stability in return, rather than seeking the maximum $$ return.

[Akzle]

you mean they dont have utes.......fuckers

i know, right

[R650R]

Very interesting thread... thinking of becoming a landlord, just missed a great opportunity.

What worries /interests me is whats the best way to do contract in terms of being easily (relatively) to evict non payers. Is there enough basis in law or do you need a well written agreement.

I like the comments above about keeping rent constant for low income people and how your better off keeping a consistant payer in there long term. A lady I new in banking recently said with renting you should really only budget on the property being tenanted for six months of the year as finding new good tenants isn't easy or quick....

[Tazz]

What worries /interests me is whats the best way to do contract in terms of being easily (relatively) to evict non payers. Is there enough basis in law or do you need a well written agreement.

It's not possible to easily evict anyone. People can essentially squat in your house and there is sweet fuck all (legally) you can do about it.

[neels]

What worries /interests me is whats the best way to do contract in terms of being easily (relatively) to evict non payers. Is there enough basis in law or do you need a well written agreement.
The only way of keeping the right to get rid of a tenant is to always rent on a fixed term tenancy, if you like them you can sign them up again for another year, if you don't you give the required notice (21-90 days) that the tenancy isn't being renewed.

If there are real issues the only option is the tenancy tribunal, been there a couple of times and in both cases they immediately ended the tenancy, you can at that point legally enforce the eviction. Never got the money that was owed other than not refunding the bond, sometimes you just have to put it down to another cost of business and move on.

Never used a property manager, and never had to rent through one, but from the people I've talked to at both ends of the business they vary from amazing to completely useless. The only way to know is to talk to some of their current clients, if they won't provide details of someone to talk to that's probably a bad sign right from the start.

The latest scam by property managers is to rent properties on a yearly basis as above, but as they are effectively signing up a new tenancy agreeement every year they consider it to be a new tenancy, so charge the usual fee of a weeks rent for a new tenancy so the tenant can carry on living where they're already living. The options are basically pay up or fuck off.

[5ive]

The latest scam by property managers is to rent properties on a yearly basis as above, but as they are effectively signing up a new tenancy agreeement every year they consider it to be a new tenancy, so charge the usual fee of a weeks rent for a new tenancy so the tenant can carry on living where they're already living. The options are basically pay up or fuck off.

Crockers are currently doing 6 month agreements for many properties in central Auckland... and I bet they're not the only one's taking advantage of the current situation.

[jasonu]

Check out what these scummy cunts did to this rental.
http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=11581554

[RGVforme]

Check out what these scummy cunts did to this rental.
http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=11581554

What do you mean I cant have my bond back?...:facepalm:

[jasonu]

http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11581857
:Punk::Punk::Punk:

[Swoop]

http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11581857
:Punk::Punk::Punk:

I'm fucking impressed!
With a rental property "coming" on the market... :woohoo::bleh::eek::blip:

[Woodman]

http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11581857
:Punk::Punk::Punk:

Yeah, starting to see how a cashless society could be a good thing:yes::yes: