Running a successful rent roll means finding a structure that works for you and your office. this month, we asked the experts...
Tayla Beckman: Position Property, Queensland
MOVE AWAY FROM TASKS
We just converted from task based to portfolio-based management. You need to change with the times. We had a property manager work with us for about 10 years and she retired. We changed to the new structure after she left. We hired two new property managers and split the properties into two portfolios with them. It’s been fantastic, there's a lot less stress and the workload is a lot more even too.
Genelle Miller: Wentworth Point Property, New South Wales
The property management division of our office is relatively young and as we expand we are growing our staff accordingly. At present our property manager’s duties cover leasing, management, maintenance and business development. We have gone from zero properties to 150 in two years without buying a rent roll. As our business grows we will allocate property portfolios and keep the one person managing the spectrum of their portfolio. I feel this provides a more cohesive and comprehensive service and knowledge base which results in better investment outcomes for our owners.
Karen George: Richardson & Wrench Caboolture, Queensland
FIT PMS TO THEIR TASK
We suit our property manager’s personalities to their roles. Our tenant manager is the ‘fluffy nice side’ who is a good first face to the business, she likes to meet prospective tenants and process applications. We have a mature aged lady who has worked in banking who deals with exit reports, disputes and is an excellent mediator. When we have a property manager on leave, the landlord isn’t used to dealing with just one staff member.
Landlords appreciate having an entire team working on their property.
Cindy Knight: Time Conti Sheffield, Western Australia
We believe the owner is better served and happier by dealing with one person and one person only for matters pertaining to the management of their property. We also think that portfolio-based offers better job satisfaction because there are a variety of tasks, which can be rewarding and challenging – task-based can get boring for the staff member and lead to staff issues. Also, portfolio-based gives the property manager ownership
of the management and relationship with the owner, leading to job satisfaction and happy owners.