Powered by MOMENTUM MEDIA
realestatebusiness logo

Breaking news and updates daily. Subscribe to our Newsletter!

Home of the REB Top 100 Agents
Breaking news and updates daily. Subscribe to our newsletter

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

rpm logo latest

‘Routine inspections’ need to stop

By Jodie Stainton
26 August 2016 | 1 minute read
Property management inspection

Have property managers been going about their jobs all wrong? 

I’m imploring you not to do routine inspections anymore.

That got your attention didn’t it? Isn’t it amazing when you finally question something that you’ve been doing for over 15 years and you realise how stupid you’ve been?

Advertisement
Advertisement

This happened to me recently. The other night, I had a bit of an epiphany. I was thinking about the upcoming Numbers Game training. There’s a section in there that talks about points of difference and I was reflecting that the whole industry is same same, which granted is not new. But all of a sudden I thought, we even call the services and more to the point, the tasks we do, the same.

What I mean is, not only do all of our agencies basically look the same – same websites, same ‘for lease’ signs, same advertising – but we also perform routine inspections, entry condition reports, exit reports, bond inspections, leasing etc. 

I had a thought, “Why do we call it a routine inspection?” I mean, routine inspection doesn’t really say what we do and while I agree that the owner would like a routine inspection, what they actually want is an asset protection inspection, a property health check, a tenancy health check or even a quality control check.

And then the floodgates opened. All of a sudden I realised that most of the terms we use are downright dumb. ‘Arrears management’ certainly doesn’t convey security, return on investment or peace of mind. 

If you think about it, arrears management could be income protection management. Rent reviews could be rent optimisation analysis. Rental listings could be tenant engagement programs or property promotions. End of month statements could be an investment performance review. The list goes on.

Do I think this would make a difference? Yes, I do. Not only for the client who doesn’t really see what we do beyond rent collection and arranging maintenance.

However, a property manager who is performing a rent optimisation analysis might look at what they’re doing as completely different to performing a rent review. It might go a long way towards changing the culture of the industry.

We want you to play along with us. What are some better names for all the tasks we do?

‘Routine inspections’ need to stop
form ticks crosses
lawyersweekly logo

ABOUT THE AUTHOR


Jodie Stainton

Jodie Stainton

Jodie Stainton is the Dot Connecter at Apmasphere. She has over ten years of hands-on property management experience, as well as five years working as a consultant. Jodie helps property management teams align their business practices with their chosen strategies to achieve real results. Contact her at This email address is being protected from spambots. You need JavaScript enabled to view it.

Listen to other installment of the Real Estate Business Podcast
Rankings
rankings
JUST RELEASED
May 09, 2022

REB Top 50 Women in Real Estate 2022

REB is thrilled to present the Top 50 Women in Real Estate 2022 ranking, which sets t ... LEARN MORE

rankings
JUST RELEASED
May 04, 2022

REB Top 100 Agents 2022

Now in its second decade, the REB Top 100 Agents 2022 rankings are the most revered s ... LEARN MORE

rankings
JUST RELEASED
May 02, 2022

REB Top 50 Agents NSW 2022

Even a pandemic has not put the brakes on the unstoppable property market in NSW, whi ... LEARN MORE

rankings
JUST RELEASED
April 27, 2022

REB Top 50 Agents VIC 2022

The COVID-19 crisis has not deterred the property market in Victoria, which has been ... LEARN MORE

rankings
JUST RELEASED
April 25, 2022

REB Top 50 Agents QLD 2022

As the property market continues to roar in Brisbane and Queensland, the REB Top 50 A ... LEARN MORE

Coming up

rankings rankings

 

Subscribe to our RPM
mailing list

 

Do you have an industry update?

top suburbs

12 month growth
Mirador
103.33%
Bawley Point
98.13%
Walla Walla
90.7%
Byron Bay
86.67%
Kiama Heights
85.93%
Greta
84.14%
Nulkaba
81%
South Hobart
78.78%
Diddillibah
76.25%
Lennox Head
73.98%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
Subscribe to Newsletter

Ensure you never miss an issue of the Real Estate Business Bulletin.
Enter your email to receive the latest real estate advice and tools to help you sell.