[quote user=andyr]I don't know why you said I would contact them when I received my first statement? I received it and didn't have any complaints (well I was a little annoyed as it felt like I got the tenant myself).
This was more of a light hearted jab at REIN members as property owners. I work for dozens of them. They're tough clients that come with high standards for service. Nothing wrong with that. We make the investment of time and service at the beginning to earn that trust, as it's seldom for REIN clients to only have one property. But I could see how a PM that is not familiar with the REIN crowd could have a tough time.
[quote user=andyr]
Interesting about setting the rent by the PM. I know Don recommends we set the rent, and my concern would be a lower rent makes it easier for you to rent, but digs into my pocket. There would definitely need to be a huge trust here.
For new business we do allow owners to set the starting asking rent... it is their place afterall. However we reserve the right to do the deal based on our judgement. The reason we went this way is because the rental market moves so fast we have too many lost deals while waiting to hear back from the owner regarding yes or no to a tenant, or going back and forth with questions. Tenants don't care, they often have a weekend to sign a deal and that's it. Also, frankly, we know the market better than most owners do. Seasoned REIN investors on the top of their game would be able to tell you market rates, but most owners do not, and we need to set our policies accordingly. It helps owners avoid the common mistake of sitting vacant the first month because they shot for the moon. We don't get paid if the unit isn't leased same as owners, so our interests are aligned there.
Also, what are you going to do when you have 20+ doors... most owners at that level don't want the back and forth.
[quote user=andyr]I should also state, that I advertised on Kijiji myself, answered the tenants questions, got my friends to show the property, and I set the rent and utility amounts. I got exactly what I wanted without the tenant batting an eye, despite the PM telling me the rent was too high. So, I don't think the rent or utilities were too high
Sounds like you did all the work... not sure what you needed a PM for!