The intersection of property availability and tenant attraction is in a property manager’s office. Whether you are searching desperately for a place near your employment or a beach far from it, a property manager can help you. Perhaps you are an over-tasked property owner who needs to focus energy on business-building, not business-maintaining. You can benefit from a quality, experienced, and connected property manager.
There are many more qualities and skills to look for and expect from the property management company (PMC) you choose to find or fill your property. Larger companies with more properties in various municipalities will provide greater savings on time, money, and frustration. A group with locations for Property Management in Dee Why, Manly, Bondi, Tamarama, Rose Bay, Palm Beach, Cronulla, and Mosman can sort you out around Sydney.
Employment is growing in innovative cities and areas of Western Sydney, Newcastle, Townsville, Darwin, Geelong, Gold Coast, Canberra, and Adelaide. We live where we work, for the most part. Australians spend 10 days or less outside of the city where they work. Find a city that meets your needs in housing, safety, education, freedom, etc. Your pay will provide for accommodations but does not guarantee you will find what you are looking for. Do not move into a “temporary option”. They vary rarely. Especially in this market.
As a business owner, we want to find quality tenants who are stable and reliable. Those same growing markets provide more tenant inquiries, filtering, research, documentation, etc. Meet a PMC at that intersection where you can set parameters for the tenants regarding each property type you own.
Before we dig further into PMC’s qualities and skills, we need to discuss business owners’ use of property management software. On a small scale, this option can provide assistance and documentation for business development and operation. It will require more ownership time or hired help. Either of those choices, with respect, is unskilled in the industry, unknown in the market, and can not provide the quality of service a PMC can. There will come a time when the cost of a PMC is less than the value of your time. Until then, record everything.
When the rental/lease market is full of available options, a PMC will take the time to sort out the criteria you are searching for. In a dream world where you have too much space and too few tenants, a PMC can guide them to you. When we research PMCs, whether tenant or owner, there are qualities we should look for.
- How many times are we told, “Communication is key.”? If you are going to entrust the quality of accommodation for your family, or profits for your business to any 3rdparty, they had better communicate very well. They must be reachable, responsive, and clear.
- We touched on company size or portfolio of properties. As an owner, you will be concerned about how they market your property. How are they positioned in the market, and what is their brand history?
- Do they have internal conveyance solicitors to transfer property ownership, prepare/file documents, and secure funds transfers?
- Problems in housing systems arise. How vendors are managed is an important factor as an owner and resident. The PMC/vendor relationships are important.
- The tenant wants the faucet fixed quickly
- The owner wants it done correctly and inexpensively
- Experience speaks volumes. Even a smaller firm in one particular market for 40 years can impress with great service. Find a balance of portfolio and experience.
- Communication is one part of customer service. Proactive attention to their clients will help them retain residents for their next moves. Touching base with owners regularly to offer marketing support helps all parties.
- Is your PMC certified by recognised industry bodies? Are they educated and licensed by official government offices?
- Are their employees incentivised for continuing education? Property management law is ever-changing. There is a need to stay current to provide the best service with the fewest issues.
- Are they profitable? Are they too flashy? Are they effective? Current client feedback and contact data should be freely shared with you.
How a PMC treats tenants speaks to their underlying character. The respect they deliver to the owners and their property does as well. We can see the qualities of a well-maintained property. They are clean, organised, vibrant, and bustling.
