May 4th, 2011 
Bowen Family 
About 10 Million tourists visit the Gold Coast every year. With its beautiful beachfront, its thriving festivals and its picturesque skyline, it’s no wonder that more and more fall in love with it and choose to stay permanently or for longer periods than expected.
Property Management on the Gold Coast has been thriving mainly because of the influx of potential tenants in recent years. On the Gold Coast, you can either choose from the myriad of real estate agents who also handle property management or you can choose someone who is only focused on property management and nothing else.
Whether you choose a Real Estate company or opt for a dedicated property manager, this is a choice you will have to make very carefully.
I’ve used quite a few Real Estate agents in various locations over many years as a property investor and, with few exceptions, I’ve generally been quite disappointed with the quality of care I’ve received, the interest in my property and the feedback I’ve received.
And then there are the end-of-month statements which seem to be overrun with miscellaneous costs I knew nothing about and which I certainly had not approved.
When you consider the resources of a Real Estate agency; the staff, the systems, street front locations and the advertising and marketing clout, it surprises me that there are not more agents doing a much better job. Maybe they have too many clients and too much to do and can’t get it all done and please their clients.
In recent years I have been fortunate to have found a property management company on the Gold Coast who does nothing but manage properties.
On the surface they have none of the advantages of a real estate agency. They don’t have a mob of staff. In fact there are only two of them. They don’t have the marketing clout of bigger companies either.
What they do have is a love of looking after your property, finding the right tenant and making sure you are informed every step of the way.
What’s more, what they lack in size they make up for in knowledge of the Gold Coast and a love of not only finding great tenants, but making sure you get a great service where you are informed every step of the way.
They pride themselves on taking on properties that other agencies have had trouble filling and getting the job done quickly. They can do this because they know the Gold Coast inside out and back to front and leave no stone unturned in making sure the investor is well looked after.
What are you going to do about finding a great Property Management company on the Gold Coast? Choose an agency or a independent family run company who does nothing but manage properties? Choose well.
Watch the video related to property management
As a property owner what about the day to day management of your assets? Do you really have the knowledge, patience, expertise, and the time to handle the essential day to day tasks associated with property management? Wouldn’t it be nice to have a partner who could take some of the weight off of your shoulders?
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It depends on the landlord. For some, being a landlord is their job, so they manage it themselves. Most, however, hire property management companies. Property management companies have standard policies and procedures the really automate the whole process, from rent rolls, finding and screening new tenants, move ins/outs, etc. Makes life easier for everyone.
So you want to be a Super— your best bet to get your feet wet is take take a live in position–check Craigs List–or watch the papers. You will need an understanding of buildings and it certainly helps to be handy.You need to be organized–because you may have to collect rents and keep books, You need a solid understanding of Landlord-Tenant Law in your state—Most of all you need the patience of a Saint in dealing with irate and impossible tenants. Like I said watch the listings—sometimes a larger complex may be looking for an Assistant.
Some property management firms might specialize in multi-family units or large groups of properties only but most take inventory from anyone. Just be sure to shop around for their fees and maintenance costs (if they are doing it) and learn about how they select their tenants and how your condo can fit into the scheme of things. Go with a gut check too. See if they are personable and if you were a renter is that the kind of landlord you would like to have. Best of luck
It is almost certain that your rental agreement will still be in force. Most rental agreements would have a provision stating that the agreement is binding on successors in interest, etc.
As a practical matter, my advice to you would be:
1. Make sure you have the rent on the day that it is due, but don't give it to anyone. Just hold it in a safe place (where you won't touch it) until you are contacted by someone who says you should be paying it to them. This contact could be a phone call, a letter, a "Notice to Pay Rent or Quit," or some other form of communication. At that point you can start verifying if the person or entity is legitimate. in a safe place where you won't touch it Resist the urge to spend the rent on some other pressing financial need, especially if this goes on for more than a month, which is very possible. If more than a month goes by before you have been contacted, add the next month's rent to the rent you are holding.
2. Look at your rental agreement to see who is responsible for paying the association fee. If the rental agreement says the landlord is responsible for paying it, you would probably be safe to pay the required amount from the rent you are holding, so that the water stays on.
There is no standard.
With my company it just depends on how long people take to get back to me to verify all your information and check all your references.
Some have taken me about a week and a half because I couldn't get a hold of their previous landlord. And some others I was able to approve the same day because I was able to get a hold of everyone right away.
and each company has their own operating procedures.
This is a difficult question to answer because much depends on how much of the management work you are willing to do yourself. Most property management companies I have know all work on a percentage of the rental income. You can be fairly hands-off but it costs you money.
I use an online service for my units that could be used from a distance (ie out of town). It helps you advertise, collect rent, book keeping, screen tenants and even schedule your contractors. Keep in mind that you will still have call the plumber or handyman yourself but at only a few dollars a month per unit – I think it is worth it!
There is a free 15 day trial here:
http://www.epropertymanagementsoftware.com/
Market research in this case means a basic knowledge of the housing market (rentals) in your area. It might include knowing strategies to improve a complex, or buildings profitability, or how to persuade the tenants to be more timely in their payments. It's not any one skill set, but several.
In other words, the days of simply collecting rent are over. But if your mom is a quick study, she might be able to persuade them to give her a try, based on her previous experience.
Good luck to her!
The By-laws, as amended are the only authority to collect late charges or other fees. However, they can be changed from time to time. If you are absolutely certain that those by-laws have not been changed, then you must only pay the 1.5% per month and I would dare the property management company to demand otherwise. $1,000 per month sounds excessive anyway and would probably not survive a court challenge anyway, as they would be considered unconscionable. Submit a copy of that portion of the by-laws with your 1.5% payment.
Type in "property manager" houston and you'll see a listing of several companies.
A property manager is a person or firm charged with operating a real estate property for a fee, when the owner is unable to personally attend to such details, or is not interested in doing so. Typical jobs include finding/evicting and generally dealing with tenants, home repair, home improvement, cleaning, garden maintenance, landscaping and snow removal, to be coordinated with the owner's wishes. Such arrangements may require the property manager to collect rents, and pay necessary expenses and taxes, making periodic reports to the owner, or the owner may simply delegate specific tasks and deal with others directly. A property manager may arrange for a wide variety of services, as may be requested by the owner of the property, for a fee.