Property Management has been my life for many years and back in the early days of my career I experienced property management within the traditional Real Estate Agency structure.
Passion and ability to exceed my landlord clients’ expectations honestly did reach a plateau working within a Real Estate Agency. Why?
Well to start with Real Estate Agencies primary business is property sales. Property Management is more often than not a smaller division of the business and while having large rent-roles that look impressive from the prospective clients’ initial impressions – it simply means less service; less relationship building with landlords and little or no extra value.
I was frustrated with this and I could see so much potential to bring greater service (and results) for landlords in managing their properties. So I launched a fully dedicated Property Management Agency – Home Specialist Property Management.
Clients seeking property management service want an agent who is so much more than a Real Estate Agent. Clients want a relationship with their Property Manager that enables the agent to provide sound advice about their rental property and that they can trust.
In today’s market-place in general, customers’ expectations are seeking greater value-for-money and attentive service. I am confident that all our team’ of Property Managers are able to provide this for our clients and our testimonials endorse this.
In simple terms: Clients want to see the agent servicing their property as it were their own and although many Real Estate Agents claim to do this they don’t in fact provide this level of service.
I have implemented bespoke systems that are completely dedicated to management of rental properties. These systems are for servicing both the tenants and the landlords – the complete property management process. Happy tenants means less vacancies! Our team receive dedicated training in all things Property Management – we live and breathe it.
In property management 2015 agents need to know how to negotiate, they need to have good communication and inter-relationship skills to build great rapport with landlords and also with tenants to ensure a smooth running of the lease.
Property Managers need to be knowledgeable to give the right advice and constant advice to ensure the client’s risk is totally minimised. Legislation changes are frequent so this also requires regular and dedicated training of all agents to ensure we are not putting any landlords at risk.
Agents need to do everything they can to assist in making the investment work from:
- reporting maintenance on time
- regularly increasing the rent for maximising rent return
- providing regular and accessible updates for landlords so they know their property is in safe hands and
- advising on possible improvements that are advantageous to property investors’ rental/s.
A Property Manager also needs to follow effective and thorough guidelines for screening tenant applications to ensure landlords have the ‘cream of the crop’ when it comes to selecting the best tenant for their property.
It’s not enough to simply do a routine inspection each 6 months and collect the rent anymore. The risks to landlords are higher than ever with litigation and complex legislation rife.
I truly believe that every Property Manager agent must be competent and also motivated to exceed in servicing landlords. This in itself is a huge task that requires more than 100% input from the whole agency every day!