Superstar Support

Are you organised, systemised, and structured in your work? You might be the person in your team that keeps the wheels turning and ticks the boxes in every process. Perhaps you are the first point of contact for your clients, or an all-rounder supporting the team behind the scenes?

An effective and efficient support team can help the inner workings of a Property Management Department run like a well-oiled machine, if all the checks and balances are in place to ensure they are working well.

Positive internal communication that is fluid will contribute to cohesiveness as a team and external communication will be well executed if this positivity carries through to the front of house.

If you would like some further tips to hone your craft in a supporting role, head over to www.reapluscommunity.com.au

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Walking in the Shoes of your Landlord

It can be challenging to get a true understanding of what each individual client needs. Even with the correct processes in place, there is not a one size fits all solution for your investor clients.

Getting a clear picture of client needs come down to putting yourself in their shoes. This can mean delving into and understanding the investor type that you are dealing with as well as uncovering the true cost of owning an investment. As the need to focus on the client and meeting their expectations continues in importance, its time to take a step outside the PM world and look at investment from the landlords point of view

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Inspections 2020 and Beyond

This year has provided Property Management teams with some amazing innovation in the realm of technology, including increased offerings that have assisted to quickly evolve with changes and provide increased efficiencies for teams and improved service for clients.

The team at Inspection Manager joined us to provide insight into how online inspections can help Property Management Departments adapt to the ever changing world and continue to provide an amazing service offering to their clients.

Introducing tech like Tenant Assisted Inspections has helped many teams over the past months to continue to provide a routine inspection service for their clients and they have also found that this has helped to stay on top of maintenance and care of properties, especially during lockdown.

Functionality like the introduction of Paperless Condition Reports has assisted in reducing overhead costs for business in the reduction of printing and time spent producing paper reports and helped in the induction process of new tenancies. This has also helped increased compliance with reminders to tenants in returning reports and provided easier access for tenants to complete this essential document.

If you missed today’s webinar, head over to www.realpluscommunity.com.au where you can catch up with this replay on demand.

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Know Your Portfolio Numbers

As we head into the final quarter of 2020, now is as good a time as any to take a look at the health of  your portfolio and ensure that every box is checked where it can be so that you can be on track to achieving your 2020 goals.

Some areas that you might like to take a look at when it comes to your portfolio could include:

  • Rent Reviews and Lease renewals – are they all in line with the current market and tenants on fixed term leases? Especially those where their Landlord Insurance have this as a requirement of coverage.
  • Repairs and maintenance – how many outstanding work orders are currently sitting in your software? Are any of them older than 30 days or is the work still outstanding? This may need to be followed up with the tradesperson for either completion or payment of the account.
  • Routine Inspections – are there any currently outstanding and what needs to be done to get any of these up to date and inspected? Its also a good idea to check if any properties on the rent roll do not have a date attached to them for an inspection and pre-plan dates into the months ahead.
  • Arrears – what percentage of your tenants are in arrears? Can this be improved and what percentage of those arrears are invoices outstanding?
  • Vacant properties – can any of these be marked inactive, there may also be vacated tenants and previous Owner’s that also need to be marked inactive which will assist in reflecting accurate numbers on your rent roll.
  • Files audit – do all of your files contain a correctly completed Management Agency Agreement, Tenancy Agreement, Application Forms and a Condition Report, just to name a few.

As an extra point, you may also like to carry out a keys audit to check that we have all of those keys on file for properties managed.

Checking your portfolios can assist in ensuring that you have all the necessary checks and balances in place and can assist with a smoother running rent roll reducing stress and maximising efficiency.

If you would like any assistance in your quest to achieve a clean rent roll, the team at Real+ can help with solutions to get you on track.

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Can you Get the Leasing Deal Done?

It’s a fascinating time in the rental sector as we are seeing some areas of the country inundated with rental demand as people look to move to a new location.

The feedback is that some are doing this for a tree change or sea change; some are altering their living arrangements as flatmates are moving in/out; and some are selling now and renting until they feel the time is right to buy again.

However, this isn’t the same story in all areas. When there are more people moving into one area they must be coming from somewhere! Therefore, somewhere there is a shortage of prospective tenants. Conveying this information to a landlord can be difficult, and this becomes our challenge to help a landlord to adjust quickly to a rapidly changing rental market. 

Many Property Managers will have clients with whom they have built up a level of trust in their relationship which will make this process easier to handle. If the market value of the property is less now than what it was 12, 6, or 3 months ago, you could tell them to adjust and they would accept this so that you can work quickly to minimise the vacancy. If only we had the privilege of time to be at this level with everyone, Property Management would be much easier.

When we need to help a more challenging client through the vacancy process there a number of elements we can focus on:

What is the feedback we are giving? How well does the landlord understand the current market, and how well have we conveyed this to them. If the property isn’t moving, it can usually come down to three elements which we call the three P’s: Property, Presentation, Price.

If the Property is good, and no work needs to be done we have a good product to sell. If the presentation online looks appealing to a broad audience, we will capture everyone looking to rent a property similar to what we have. If the property is presenting well in person, we enhance our chance of anyone viewing the property wanting to apply. If these first two P’s get a tick, you can only be left with needing to review the Price as any property is only worth what the market is willing to pay.

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