All Topics / Help Needed! / What do you want out of your property manager?

Viewing 17 posts - 1 through 17 (of 17 total)
  • Profile photo of JpcashflowJpcashflow
    Participant
    @jpcashflow
    Join Date: 2007
    Post Count: 575

    Hi All,

    What do you guys look at when choosing a property manger and is there some thing else you wish your property manger could offer?

    Jpcashflow | JP Financial Group
    http://www.jpfinancialgroup.com.au
    Email Me | Phone Me

    Your first port of call in finance :)

    Profile photo of bardonbardon
    Participant
    @bardon
    Join Date: 2004
    Post Count: 557

    An accurate rental assessment, deal with issues without contacting me, money in the bank, good network of suppliers for property needs.

    Profile photo of DubstepDubstep
    Participant
    @dubstep
    Join Date: 2012
    Post Count: 395

    Hi Johann,

    Nice question, I bet it would be appreciated if all property managers asked this of their clients.
     
    I have found a lack of response to emails frustrating, you send a request and do not get a response back to even acknowledge the mail is read.

    I know we all get busy, but it's important to let the client know you hear them.

    Profile photo of thecrestthecrest
    Participant
    @thecrest
    Join Date: 2004
    Post Count: 992

    Handle everything on my behalf, act in my best interests at all times and keep me informed to the agreed level, reply fast to my calls & emails. Way simple for a professional.
    cheers
    thecrest

    thecrest | Tony Neale - Statewide Motel Brokers
    http://www.statewidemotelbrokers.com.au
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    selling motels in NSW

    Profile photo of mattstamattsta
    Participant
    @mattsta
    Join Date: 2011
    Post Count: 604

    reliability, regular reports, great communication, nice personality

    Profile photo of DubstepDubstep
    Participant
    @dubstep
    Join Date: 2012
    Post Count: 395

    Hi Johann,

    What do you guys think an owner could do to help the property manager ?

    Profile photo of thecrestthecrest
    Participant
    @thecrest
    Join Date: 2004
    Post Count: 992

    The owner already empowers the PM by signing the managing agency agreement, and then hopefully leaves the PM to do the job.
    The owner has alreday done what they should to start.
    Ongoing, the owner should approve R & M to be done without delay.
    Cheers
    thecrest

    thecrest | Tony Neale - Statewide Motel Brokers
    http://www.statewidemotelbrokers.com.au
    Email Me | Phone Me

    selling motels in NSW

    Profile photo of Kristin Simondson PBREKristin Simondson PBRE
    Member
    @kristin-simondson-pbre
    Join Date: 2012
    Post Count: 86

    Great question! Please do reply to this post everyone, would love to hear more.

    I always ask what a client expects from me (it just fits in with my tailoring program) and tend to get mixed responses… some owners want an update once a fortnight, some don't want to be contacted unless it's major, others I go for a coffee with once a month – every person is different so I don't think there is one straight answer.

    But the one thing I hear a lot is echoed in this post – owners frustrated with a lack of communication.

    As for what owners can do to assist a PM… It's out job to assist you, not the other way around! Agree with the crest – getting back to your PM to approve quotes or give the go ahead for R & M in a timely manner is important.

    Profile photo of JpcashflowJpcashflow
    Participant
    @jpcashflow
    Join Date: 2007
    Post Count: 575

    I have to agree with Kristin 100%,

    Its not what a agent wants, but what the customer wants, i believe in any business, every customer is different,
    its amazing the constant feed back we are hearing is "Communication".

    Some customer may need a call once a week and then you get other's once every 6 month.

    There is a couple of reasons that this is happening and not just in realestate but allot of other bussiness employees of some bussiness just dont care, as long as they get paid and go home thats all they care.

    Jpcashflow | JP Financial Group
    http://www.jpfinancialgroup.com.au
    Email Me | Phone Me

    Your first port of call in finance :)

    Profile photo of jamee88jamee88
    Member
    @jamee88
    Join Date: 2012
    Post Count: 10
    • Be patient and humorous while interacting with public
    • Flexible in thinking and decision making
    • Must have a habit of keeping a follow-up
    • Carry out all required property advertising and marketing
    • Must possess fair market reviews
    • Relevant expertise
    • Budget efficiency
    • Well aware of local ordinances and state laws
    • Honest and organized
    Profile photo of TaylorChangTaylorChang
    Participant
    @scha9799
    Join Date: 2009
    Post Count: 234

    whatever mentioned above plus communication, communication, communication !

    also communicate and liasing with landlord and tenants to resolve problems.

    maximise investor's profit by scanning, selecting and recommending to landlord about the tenants application.

    TaylorChang | Finance Broker
    Email Me | Phone Me

    Home loan | Commercial loan | 0414 691 517

    Profile photo of DubstepDubstep
    Participant
    @dubstep
    Join Date: 2012
    Post Count: 395

    Hi Guys,

    I agree with you all,that it's not about what the agent wants, but I'm sure that some of us owners can be painful.

    Just spinning the question to see how we can improve on our performance.

     We are all working together here  : )

      Working together
      
      

    Profile photo of REO StoreREO Store
    Member
    @reo-store
    Join Date: 2012
    Post Count: 2

    Communication.  That is the most important quality in a property manager.  If they communicate with you, they will pay you, and they do not have anything to hide. 

    Profile photo of Christine85Christine85
    Participant
    @christine85
    Join Date: 2012
    Post Count: 2

    Apart from the obvious truth of matching service to customer preferences  (which I think means the property manager building a relationship with each landlord by listening and reflecting what is heard in what is done) I like the 'honesty' theme.

    I thought the relationship between the property manager and my tennant (… which is in effect my relationship with the tennant) was fine until we went to sell, and the property manager started telling me about why the tennant was angry at them.  Not the best timing!  If I'd known three months ago (when the tennancy agreement was extended), I could have started addressing the tennant's concerns early.

    I've learnt to ask more pointed questions and look harder for indicators that I ought to 'butt in'.

    Profile photo of thecrestthecrest
    Participant
    @thecrest
    Join Date: 2004
    Post Count: 992

    Since the holding paddock of good property managers is nearly a desert, it’s not hard for a good PM to stand out.
    A PM has only to do the basics well to be a legend in their industry, and the rent roll will profit and grow.
    It’s not a job for wannabe social workers or shrinking violets, and it requires the velvet glove over the iron fist, total dedication and focus on the best interests of the landlord, constant attention to detail, very disciplined time management, and assertive quick decisions based on complete and concise knowledge of the Residential Tenancies Act and the other laws relating to the daily operations.

    It’s pointless trying to finesse a train wreck.
    Attempting fine tuning should be not be considered until a PM is sure they rate a score of 100% for doing the basics.

    To all you good PMs out there, ” the few”, you’re awesome, and you’re worth more money.

    cheers
    thecrest

    thecrest | Tony Neale - Statewide Motel Brokers
    http://www.statewidemotelbrokers.com.au
    Email Me | Phone Me

    selling motels in NSW

    Profile photo of Yuppy Hippy 101Yuppy Hippy 101
    Member
    @yuppy-hippy-101
    Join Date: 2004
    Post Count: 44

    Have a system whereby they are checking that the trades people have completed their work.  Alot of them rely on the tenant calling them to advise that the trades person didn't turn up or the owner calling a couple of months after being advised of the repair and not receiving any bill.

    Profile photo of Kristin Simondson PBREKristin Simondson PBRE
    Member
    @kristin-simondson-pbre
    Join Date: 2012
    Post Count: 86
    b.free2live wrote:

    Have a system whereby they are checking that the trades people have completed their work.  Alot of them rely on the tenant calling them to advise that the trades person didn't turn up or the owner calling a couple of months after being advised of the repair and not receiving any bill.

    That's a really good one, we've spent years perfecting how to do this. It's really just about your PM following up on jobs on a regular basis, minimum once a month, which is an easy ask.

Viewing 17 posts - 1 through 17 (of 17 total)

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