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Property Management Companies - for Rentals

  • 05-01-2015 12:48pm
    #1
    Uriel.
    Registered Users, Registered Users 2 Posts: 8,062 ✭✭✭


    Hi All,

    I have rented out my house for the past number of years and handled all of the management side of things myself. It's been rented to two different couples - the first I knew very well and the second were related to the first two.

    The first treated the house as if they owned. The second, not so great, but nothing like a horror story.

    They have moved out recently and I am now for the first time going to the "open market" for tenants. One of the difficulties is that I am now renting a place about two hours drive away.

    I was thinking about having a property management company look after the property for me. One such company offers a "full management service" whereby they claim to advertise, vet, and sign up tenants, organise the collection and transfer of rent, carryout inspections, and carryout repairs.

    They charge an annual fee of 12% of the rent. At this stage I don't want to name the company I am considering.

    But just looking for general feedback on such services and whether anyone has good/bad experiences. The attraction of not having to drive 2 hours each way to the property when small things go wrong etc. is strong, having had to do that in the past few months on a couple of occasions.

    Any feedback greatly appreciated.


Comments

  • #2
    Uriel.
    Registered Users, Registered Users 2 Posts: 8,062 ✭✭✭Uriel.


    bump. Anyone any thoughts/experiences?
    cheers.


  • #3
    [Deleted User]
    Posts: 17,728 ✭✭✭✭ [Deleted User]


    I use an auctioneer/letting agent that performs much of what you describe. The tenants pay rent direct to my account. The agent does all of the following..........

    advertise, vet, and sign up tenants, organise the collection and transfer of rent, carryout inspections (only when tenants give notice they are leaving), and carryout repairs (he has arranged for a handyman, plumber, boiler service etc as required but I pay them directly usually). The fridge, oven & washing machine have all been replaced over the years, he's looked after all these (gets a local electrical shop to supply and fit, I pay them by credit card over the phone)

    My chap charges me less than 12%, it's less than a months rent so less than 8%, not sure exactly.

    Haven't stepped foot in the property in years :)

    I would highly recommend you get someone as 2 hours drive makes it almost impossible to manage yourself imo.

    12% seems a tad high though.


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