Your Investment Property forum is the place for positive industry interaction and welcomes your professional and informed opinion.

Dodgy property managers - 11 shonky practices that are costing you money

Notify me of new replies via email
Your Investment Property | 20 Mar 2014, 04:39 PM Agree 0
Like it or not, your property manager could be the single reason you’re not making as much money from your investment property as you could. So how do you spot the dodgy tricks played by shonky property managers?
  • Alex | 27 Aug 2015, 02:16 PM Agree 0
    What about Real estate agent holding your rent for a month before they give it to the land lord? Is that common practice by all real estate agents or am I just being fussy?
    • MP Estate Agents | 29 Jul 2016, 11:43 PM Agree 0
      Hi Alex, any agent that holds your rent for any longer than a few days after they receive it is just using your money to fund their cashflow. The ethical agents that I have come across pay their landlords at least once a week, my firm pays twice a week (Wednesdays and Fridays). If you are still with that agent you should insist on being paid when the tenants pay otherwise take your business elsewhere.
  • Del | 11 Dec 2016, 12:11 AM Agree 0
    Have had three very bad experience with Property Managers here in Perth Western Australian. Each one of them use the same tricks.
    We had 3 property's managed by the same company (wish I could name them) They always held o to the founds for a week or more.
    No more property managers for me. I could write a book on the things that they not only did to the landlord but also the tenant . I know for a fact that there is no such thing as a honest Property Manager. Stay away from the well known Real Estate here in Perth.
  • Molly H | 09 Sep 2017, 11:10 AM Agree 0
    Just discovered my tenant is paying more than the agent has told me, also I get paid once a month, thought this was normal. I'm really angry and am getting together the paperwork to claim back what they owe me and then I will go back to doing it myself as I have in the past.
  • Jen | 05 Feb 2018, 05:50 PM Agree 0
    We got so tired of the poor work ethic, read: NO work ethic and unprofessionalism of so called dodgy property managers, we decided to manage our properties ourselves. It's unbelievable how they get away with some of the dodgy things they do. One of ours caused all sorts of problems between a tenant and us simply because it became apparent the manager did not even know the contents of the Residential Tenancy Act! Shameful indeed. Guess what, no more property managers, no more problems.
  • Bob | 15 May 2018, 06:35 AM Agree 0
    What about the real estates that falsify documents and get away with it ? Increase rental amounts on their system in attempt to evict tenants then send an apology stating what’s occurred months later ? The ones that are managing rentals without a licence ? The ones that put claims in for bond money and charge tenants advertising fees when they have known the date the fixed term agreements would end ? The ones that don’t communicate with property owners and back off when you demand contact to inform them of Water leaking down walls and into the roof - they are the ones to avoid
Post a reply