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Invest ahead of the curve

Invest ahead of the curve

by Steven Cross 0 comments

A property management consultant for a national network has claimed businesses that wish to grow need to hire staff and have the systems in place as if the growth has already happened.

A property management consultant for a national network has claimed businesses that wish to grow need to hire staff and have the systems in place as if the growth has already happened.

Speaking with Residential Property Manager, Vasili Hadzellis said while many principals ask him how they should grow, many don’t like what they hear.

“The first thing I ask is ‘what does growth look like to you?’ because for some businesses another hundred managements is great, but for some they want another thousand," he said.

“Once we know what the growth looks like we need to look at what it will take to have that number of managements on the rent roll. Do you have the systems, processes, resources, technology and people to facilitate that growth?”

According to Mr Hadzellis, asking for growth without a supporting backend is putting the cart before the horse.

“From my perspective, if you want 2,000 managements and you have 1,000, then you should have the systems technology and people in place as if you already had the 2,000," he said.

“So at this point in time, you may not need to hire the managers to cope with 2,000, but you may need to hire more people who are going to do the growing.

“If you’ve only got one BDM and you want another thousand in three years, you need to ask if that’s realistic.”

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