Good Morning Investors
It has been quiet a biting winter, those of us with tenants in our units have not felt the cold as much as those who are looking, June/ July is always a quite time for landlords. Things have not been that quite on our side,
We have refined the way that we are looking after CBD units, with a big emphasis on our staff training. There have been one or two complaints about our agents not giving you, the landlord, the service you deserve.
Our business is to look after your unit so that you don’t have to worry about it. Our agents are paid for taking care of your needs, your feed back is very important to us. Our agents are aware that if we have any landlords that are not happy it is an opportunity for us to solve the issue; we are on hand to remove tat stress.
We are very excited about the CBD and believe that our landlords will see the rewards for there bold move. Despite the global financial crises our CDB’s have shown some resilience, with modest but steady rental growth across all of the major metropolises. In the first quarter of 2009, rental growth in Johannesburg 6%. In the other metropolises such as Durban (9%), Port Elizabeth (7%), Cape Town (6%) and Pretoria (5%), rental growth was also been slightly effected by rising vacancies
Given consumer inflation of 8, 4% for the first quarter of 2009 and real rental growth declined across the country we are still doing ok.
For those of you that don’t feel comfortable coming into town into the thick of the action, the next best thing is see it and hear it for yourself – on video. Get the City news, feel the Jozi vibe through these live action film clips. Read more
Lets not forget the 2010 Soccer, we are current perusing some options and will inform you of our progress so that we can arrange leases accordingly.
More than 55 000 soccer fans are yet to book accommodation for the 2010 Soccer World Cup and Seeff Properties and football icon Gary Bailey have joined forces in an innovative joint venture that will see South African property owners score by letting their homes to alleviate the crisis. Read more
Showing posts with label questions. Show all posts
Showing posts with label questions. Show all posts
Wednesday, July 22, 2009
Wednesday, May 6, 2009
10 Questions to ask Property Maintance workers
When you are a landlord, there is always maintenance to be done. Whether it is a burst pipe or a broken washer-dryer, there are all manner of problems that can strike a rental dwelling. If you do not have the time or skill level to fix these problems, you will probably need to hire a professional.
But repeated calls to specialized workers, such as plumbers or electricians, will quickly devour your profit margin. If your rental property is having continual problems, you may want to hire a full- or part-time maintenance worker.
Before you begin your search, check with your current tenants. If one of them is qualified to perform the necessary maintenance, you may be able to work out a barter arrangement in which you trade work for rent-free accommodation. Over time, this can be a great way to save money on repair costs.
Whether you end up hiring a tenant or outsourcing the maintenance position, there are several things to be mindful of. Asking these 10 questions can help you find the most qualified person for your maintenance position ahead of time, saving you trouble and extra expense down the road.
1. Are they experienced? There is a big difference between fixing a leaky faucet and caring for a property. If you own a large apartment complex, the complexity and frequency of problems may be too much for the average handyperson. Before hiring anyone, make sure that they are completely capable of handling the most demanding tasks they may face.
2. What is their skill level? Can the worker handle a variety of problems? Are they qualified to work as an electrician, or do they have certain limitations?
3. Does their expertise match your problems? If you have a building with chronic plumbing problems, hiring someone who is more skilled at carpentry will not be very helpful. Try to find a jack of all trades rather than a master of one.
4. Where do they live? If your maintenance person does not live on site, how far away is their primary residence? If you find someone who is absolutely perfect for the job but lives too far away, you may want to consider providing them with housing either within your rental property or nearby.
5. Will they be full- or part-time? This will depend on the size of your property and the amount of problems you anticipate. If you have a large apartment complex, you may need to have a full-time maintenance person on the job. However, if you have only one or two rental houses, a part-time worker would be the economical choice.
6. What is their response time? This is very important if your worker does not live on site. Some problems just cannot wait until morning. For example, if you have a furnace go out in the middle of a very cold night, you will need to have this fixed as quickly as possible. If your maintenance person cannot get to your property in a timely fashion, you may need to find someone whose schedule will permit them to be on an on-call basis.
7. Can they provide references? Request both employer and character references. Have each applicant complete a written application so you can follow up on the references that they provide.
8. Are they ethical? An unethical maintenance worker can quickly drain your wallet and poison your reputation with your tenants. Ask the applicant's former or current employers about their work ethic and personality.
9. Can the applicant keep up with demand? If you have several properties, or if your properties are spread out over a wide area, one worker may not be enough. Take into account how often you may need them, and how far your properties are from their current location.
10. Are their rates reasonable? If you have infrequent problems with your rental properties, the added expense of hiring a maintenance worker may be more than you would pay for one-time jobs. This is something you will need to weigh before making your final decision.
But repeated calls to specialized workers, such as plumbers or electricians, will quickly devour your profit margin. If your rental property is having continual problems, you may want to hire a full- or part-time maintenance worker.
Before you begin your search, check with your current tenants. If one of them is qualified to perform the necessary maintenance, you may be able to work out a barter arrangement in which you trade work for rent-free accommodation. Over time, this can be a great way to save money on repair costs.
Whether you end up hiring a tenant or outsourcing the maintenance position, there are several things to be mindful of. Asking these 10 questions can help you find the most qualified person for your maintenance position ahead of time, saving you trouble and extra expense down the road.
1. Are they experienced? There is a big difference between fixing a leaky faucet and caring for a property. If you own a large apartment complex, the complexity and frequency of problems may be too much for the average handyperson. Before hiring anyone, make sure that they are completely capable of handling the most demanding tasks they may face.
2. What is their skill level? Can the worker handle a variety of problems? Are they qualified to work as an electrician, or do they have certain limitations?
3. Does their expertise match your problems? If you have a building with chronic plumbing problems, hiring someone who is more skilled at carpentry will not be very helpful. Try to find a jack of all trades rather than a master of one.
4. Where do they live? If your maintenance person does not live on site, how far away is their primary residence? If you find someone who is absolutely perfect for the job but lives too far away, you may want to consider providing them with housing either within your rental property or nearby.
5. Will they be full- or part-time? This will depend on the size of your property and the amount of problems you anticipate. If you have a large apartment complex, you may need to have a full-time maintenance person on the job. However, if you have only one or two rental houses, a part-time worker would be the economical choice.
6. What is their response time? This is very important if your worker does not live on site. Some problems just cannot wait until morning. For example, if you have a furnace go out in the middle of a very cold night, you will need to have this fixed as quickly as possible. If your maintenance person cannot get to your property in a timely fashion, you may need to find someone whose schedule will permit them to be on an on-call basis.
7. Can they provide references? Request both employer and character references. Have each applicant complete a written application so you can follow up on the references that they provide.
8. Are they ethical? An unethical maintenance worker can quickly drain your wallet and poison your reputation with your tenants. Ask the applicant's former or current employers about their work ethic and personality.
9. Can the applicant keep up with demand? If you have several properties, or if your properties are spread out over a wide area, one worker may not be enough. Take into account how often you may need them, and how far your properties are from their current location.
10. Are their rates reasonable? If you have infrequent problems with your rental properties, the added expense of hiring a maintenance worker may be more than you would pay for one-time jobs. This is something you will need to weigh before making your final decision.
Tuesday, May 5, 2009
May Newsletter
Good morning Investors
We hope that you all enjoyed your holidays this last month
We have been involved with the launch of a fantastic new development called the Colosseum. It has been a bit of an uphill journey.
For those of you who have not invested in the building here is some background. The developer wants to keep standards of the building high and has implemented restrictions that do not permit just any letting agent into the building to rent out the apartments. We had to meet with the developer and issue company docs for approval.
This is a great idea and we are quite surprised that this is the first time that we see a system like this being implemented into a CBD block. There are plenty of sub-standard agents out there and we are sure that most of you have had the unfortunate experience of dealing with them.
This type of entrepreneurial thinking is what we need to really see our investments grow.
All our other buildings are doing well with nothing to report.
The only bad news that we have this month is that there was a fight at the Broadway Building, Friday night 30 April, the security did sort out the problem and there is a meeting with the body corporate, Security Company and the managing agent.
This sort of behavior can be avoided by implementing the right house rules. However we think that the Body Corporate of buildings in CBD should start enforcing that only approved managing agents are allowed to operate in their buildings.
Let’s hope that May is a trouble free month,
We hope that you all enjoyed your holidays this last month
We have been involved with the launch of a fantastic new development called the Colosseum. It has been a bit of an uphill journey.
For those of you who have not invested in the building here is some background. The developer wants to keep standards of the building high and has implemented restrictions that do not permit just any letting agent into the building to rent out the apartments. We had to meet with the developer and issue company docs for approval.
This is a great idea and we are quite surprised that this is the first time that we see a system like this being implemented into a CBD block. There are plenty of sub-standard agents out there and we are sure that most of you have had the unfortunate experience of dealing with them.
This type of entrepreneurial thinking is what we need to really see our investments grow.
All our other buildings are doing well with nothing to report.
The only bad news that we have this month is that there was a fight at the Broadway Building, Friday night 30 April, the security did sort out the problem and there is a meeting with the body corporate, Security Company and the managing agent.
This sort of behavior can be avoided by implementing the right house rules. However we think that the Body Corporate of buildings in CBD should start enforcing that only approved managing agents are allowed to operate in their buildings.
Let’s hope that May is a trouble free month,
Sunday, April 19, 2009
Questions for your new tenents
We often have limited time, here are a few question that you should ask when a tenant calls you to make an appointment. if their answers don't satisfy you, you don't wast your time on a fruitless viewing.
If you do make an appointment to see the unit, ask them to bring ID.
If you do make an appointment to see the unit, ask them to bring ID.
- What are the best phone numbers to reach you should we get disconnected or I need to reschedule an appointment? (home, cell and and work, if possible)- So that you can call them back if necessary. (Remember, they have yours!)
How many people will be living in the unit, even if temporarily?
What's your current situation?/ Where are you renting now?
Why are you looking to move?
When are you looking to move?
Do you think your current landlord would give you a good reference?
Do you have any pets? (if so, what kind?)
Does anyone who wants to rent this property smoke?
How many vehicles total would everyone need to park at the property? (not normally a problem in the CBD)
In what other areas would you be interested in renting? (in case you have vacant units in other units, too.)
How many bedrooms do you need?
How long are you looking to rent?
How much do you make per week/month/year (whichever seems most appropriate)? How about the other applicants? Is this "gross income" or "take home" income?
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