Find out what one of our lovely owners thinks of us!
Jessica K, NSW
My property in Townsville is one of three investment properties I own in Qld. As a remote investor living in Sydney and often travelling internationally for work, having a decent property manager is absolutely essential for peace of mind. In my experience, property management agencies are either mediocre (bare minimum work, maximum number of properties possible and limited contact with owners) or diabolically awful (extended periods of vacancy, refusal to address complaints, poor vetting system for tenants and treating tenants like dirt and owners as an irritation). This is my experience….
At the time when Coral Sea approached me I was very unhappy with my property management agency who had previously allowed my property to be vacant for over three months, and had just entered into another vacancy period (4 weeks at that point) where I was literally screaming for tenants. Over eight months in 2010/2011 the property had been vacant for 17 weeks and I had accepted a cut in rent of $40 per week just to get any tenant in there. My previous rental agency would occasionally return phone calls( Ha! Pesky owners wanting to know why their property has been vacant for several months!), write me one line emails, and the franchise principal actually hung up on me as I discussed my complaint about how the property was being handled. I was strongly considering selling the property because it was causing me so much grief.
Unexpected delight in a sea of misery
Off their own bat, Coral Sea approached me and offered that they would find a tenant within one week or start paying the rent themselves on day 8. I had planned to change agencies in any case but this was simply a deal too good to be true. Also, since my agency could barely be bothered to reply to my frantic emails, having an agency actually research my property, find out some details and write to me directly was a wonderful bonus. My business was desired! Not just an unwelcome irritation! I accepted, and Coral Sea helped me with advice and support throughout the 90 day penalty period I still had to pay the previous agency even though I was not paying them during this time. The penalty period was a miserable time but the staff at Coral Sea even called me to cheer me up about it!
Since actually getting on board with Coral Sea I have stopped worrying about my investment property in Townsville. Before that it was giving me grey hair as I was worrying constantly about whether I would have a tenant to be able to meet my mortgage payments. They update me at least fortnightly, have pro-active maintenance staff, are decent and respectful to my tenants and have consistently gone to extraordinary measures to make sure I am happy with how things are going.
Other unexpected good things
Coral Sea will pay disbursements fortnightly or monthly or whatever you want to fit in with your mortgage cycle. This really helps!
The culture of this company is different. You know how rental agents always seem to be absolutely joyless people who have sucked on a lemon? Coral Sea seems to have turfed out all of those people in favour of go-getters that actually have a sense of humour. The staff have a lot of fun and absolutely seem to enjoy their work. It is really refreshing to have an answer to an email on the same day, with quirky pictures or funny quotes.
If you are having a nightmare experience with your property agency, or if your current agent falls into the mediocre category, I promise you that you won’t regret changing to Coral Sea. It is the best thing I could have done.