Ensure you never miss an issue of the
real estate business bulletin
Clients craving ‘missing part in PM puzzle’

Clients craving ‘missing part in PM puzzle’

by Lara Bullock 0 comments

Property management firms must steel themselves for a fast-changing future – that’s the opinion of a business that has just celebrated its 30th anniversary.

Adelaide agency Toop&Toop, which was founded in 1985, expects the industry to become much more sophisticated in coming years, according to head of property management Suzannah Toop.

“The mum-and-dad investors are craving more information in a bite-sized and understandable way,” Ms Toop told Residential Property Manager.

“It wouldn’t be at that institutional level where you're talking in a very high-tech, analytical way, but there’s huge room to improve the information that’s provided to residential property investors.”

Ms Toop said the industry would continue moving away from simple rent-collecting towards providing clients with more market information, such as projections and outlooks.

“That’s such a missing part in the property management puzzle at the moment and I think clients are really craving that,” she said.

Toop&Toop has more than $1 billion of residential property under management and would one day like to run a rent roll of up to 10,000 properties, according to Ms Toop.

“We want to use that presence and that footprint in the market to be able to provide benefits to our clients that have never been seen in the industry before.”

Toop&Toop has occupied the same office in Norwood for 28 years and now has six offices across Adelaide.

The agency has 134 staff, including a property management team of 35 and a sales team of 40.

Founders Anthony and Sylvia Toop still have a presence in the company as mentors, although their daughters, Suzanne and Genevieve, are now responsible for day-to-day management.

[Related: Tenants are ‘future investors’, not just renters]

 

Clients craving ‘missing part in PM puzzle’
lawyersweekly logo
promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2017

The REB Top 100 Agents ranking is the foremost ranking of agents in Australia. It has set the bar for excellence in Australian real estate. To be ranked as an REB Top 100 Agent is the standard real estate professionals strive for. See the full 2018 ranking here!

featured podcast

featured podcast
An industry where the resilient succeeds

Tim Heavyside believes that a strong support team and good foundations are paramount to success in the real estate industry, and with regu...

View all podcasts

Would you consider working for Purplebricks or a similar 'DIY' model?

Yes (7.2%)
No (80.9%)
Perhaps - make me an offer (12%)

Total votes: 209
The voting for this poll has ended on: July 13, 2018
Do you have an industry update?