Onsite or Offsite Real Estate Agent?

If you own an apartment, and wish to rent it, there is often a choice between using the onsite building manager (who will often have a real estate agent license) or an offsite real estate agent. There are positives and negatives of both. This is the view of Chris Hinds, an offsite agent, as set out in a recent mailing from him:

"In this day and age, the majority of On-site management offices can provide generic Property Management services. Inappropriately trained staff are usually placed within minimal staffed offices and a heavy reliance is placed on technology and computers to deliver the required service. The business owner is normally no-where to be seen whilst the management of your property is generally handled by unaccountable staff that do not even own an investment property themselves. Sound familiar? Common concerns that generally arise from the above are…

• The Caretaker/Building Manager condoning backpackers or short term letting.
• Poor or unsupervised tenant selection.
• Overcrowding and increased wear and tear contributed by the excess of students, back packers & short-term lets within the building
• Is the most appropriate amount of rent charged to the tenant based on rental market conditions.
• Levies and bills attended to and paid on time.
• Entry and Exit Condition reports completed and done so thoroughly.
• Caretakers/Building Managers wanting an extension could signify their desire to sell out!
• Watch out for those Hotel operators, they are well known to reduce the value of your property."