How to Select an Elite Property Manager

Scouting Australia Podcast

Special guest Wonder Woman (also known as Jackie Skein) has jumped into the shark cage with Hosts Sammy Gordon & Jimmy Ibrahim to tackle one of the hottest topics in real estate, Property Management.

In today's episode, we will get in-depth knowledge on how to form great relationships with property managers, how to select a great PM for your properties and some incredible stories from the team which will give you some great insight on what not to do.

Intro guest - [00:31]

Jackie how do you pick it - [01:37]

People are experts at different things - [02:59]

There are no kickbacks - [03:58]

Jackie give us your background - [4:40]

Jackie's level of service - [08:09]

Why do property managers hate this conversation - [09:40]

What is your ideal amount - [10:48]

Your days are numbered - Jimmy - [11:24]

Something Jackie noticed property managers didn't have - [12:20]

The incentive - [14:45]

- The first question you should ask

Do certain property managers get kickbacks - [16: 38]

- Jackie's story

- The common problem

Jimmy's fugazi forms - [20:45]

Do you get any kickbacks - [ 21:18]

- Be mindful of realistic prices

- Are we being too hard

What answer do you want to look for - [24:10]

- CMA's

- How a property manager will reveal how good they are

- What's your process around lease renewals

Management fees - [31:00]

- Understand costs

- Dusty pockets

Cheapest rate... you're gonna get burned - [36:34]

Throwing some heat - [38:00]

Are there people in the industry trying to take advantage of you - [40:33]

- The flat fee

- Don't get caught out on the additionals

- The resident upgrade

The big push in the industry - [43:47]

Average days on market - [45:30]

- Here's a take-home gem

The fine line - [47:51]

How do you manage granny deals & teething issues - [50:13]

Important to have a good relationship and bond - [53:54]

Give us a horror story Jackie [55:24]

NRAS story - [57:05]

Sammy's got one - [58:48]

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Any information, comments, opinions or content that we provide in this podcast is our general observations and information only and it is not to be taken as, or in any way, considered to be financial advice, accounting advice, superannuation advice or legal advice. We strongly recommend all and any listener and participant to obtain their own independent financial advice, accounting advice, superannuation advice and legal advice before acting in any way in relation to any investment at all including any investment in property such as what we might be discussing in this podcast. No warranty, guarantee or representation is to be taken and you cannot reproduce it in any way. Every persons financial or investment situation is different and you must consider your own circumstances before undertaking any investment and be sure to obtain independent advice.

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