Tips for a budding Property Manager

[Scratch]

Greetings all, I'll start as others do and praise these forums, my knowledge has increased exponentially since joining, so thank you to one and all.

Its happened, I have the entrepreurial bug, I have had some bad experiences with Property managers over the years and I have decided to try my hand at the RE trade and see how I go. I am starting a property management and RE business and I want to provide customer service outside the box and be creative with the solutions I can provide to my clients.

So basically what I am hoping to get from you guys as investors is some suggestions on what you wish your property manager did for you, lets try to keep it fairly realistic and above board though, lol. Here are some of the ideas I have so far to get things started, feel free to critique, constructively of course.....

An all inlcusive fee, no extra charges for admin, paper, postage etc.
Discount for mulitple property clients
Fee to provide initial advertising and screening then client takes over the ongoing management

So I will leave it to you and hopefully we can generate some great discussion and win-win-win solutions. Not looking to take over the world, just provide investors with better customer service.


kind regards

Shane Scott
Scratch Property
www.scratch.net.au

 

[alexlee]

I want to provide customer service outside the box and be creative with the solutions I can provide to my clients.

Sounds great as a feel good corporate statement. What exactly does it mean? How will you be creative? What ideas do YOU have about the services you're going to offer and how will it be different from other agents?

An all inlcusive fee, no extra charges for admin, paper, postage etc.

Depends on how much that fee is, doesn't it? I don't necessarily mind admin charges as long as they're spelled out in advance.

Discount for mulitple property clients
Fee to provide initial advertising and screening then client takes over the ongoing management

I would have thought landlords who self-manage would just self manage everything. Landlords who hire PMs wouldn't want to do the ongoing management. I want an investment, not a job as a PM.

Cost isn't the most important thing to me. The important thing is that I get good service from the PM. Timely responses to my emails and calls. Fast communication when something happens, and suggestions as to what needs to be done. Good updates about potential issues, and regularly assessment of wear and tear. Knowledge of tradies that do a good job and respond quickly. Detailed knowledge of the rental market so they can suggest what rent to ask for and why.

 

[D.T.]

To me it's a PM who understands : (in no particular order)
1) their delegation limit, IE don't call me to let me know you're changing a light globe.
2) the law, IE act appropriately towards threats/requests from tenants
3) their local area well resulting in efficient marketing to local tenants