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Managing a large portfolio of high-value properties can be a challenging task at the best of times. With clients' expectations for the best possible service at an all-time high, coupled with living in the digital era where we are all so accessible at any time and anywhere, it is even more important to have systems and procedures in place.
To manage clients' expectations and also our own team’s day-to-day activities, we have introduced what we call the property management timeline. This has quickly become an essential tool for our property management division of the business and is put in place on the signing of each and every lease agreement.
The property management timeline covers:
• Start and end dates of the tenancy agreements
• Dates for routine inspections
• Landlord insurance renewal alerts
• Hot water tank inspections
• Strata payment due dates
• Council rate payment due dates
• Water rate payment due dates
The benefits we have seen by putting the property management timeline in practice include:
1. Landlord’s expectations are met and managed from the outset of the agreement being signed.
2. The owner has a better understanding of their tenancy and an overview of what and when to expect communication from the agency.
3. By having dates outlined for payments or potential replacement of high-priced items, such as hot water tanks, our clients can budget accordingly.
4. The owners can plan their schedule and ensure they are available to attend routine inspections (if they are interested).
5. We don’t miss anything! This is not only a timeline for our landlords but also for us.
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