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In what was a major year for the property management space defined by Australia’s rental crisis, here are the biggest stories from the space in 2022.
In a tough year for property managers, which has seen almost 3,000 vacancies in the space and intentions for a quarter of current property managers to change career paths in the next 12 months, the proptech launched a partnership with agencies to support their property management teams.
Cyber crime was rife throughout 2022, with this story from July indicating the wide-reaching impacts of cyber crimes following scammers hacking into a Perth agency and receiving misdirecting funds from a number of prospective renters.
The case acted as a reminder for prospective renters about the importance of vigilance in the hunt for a rental, as well as what landlords and agents can ask of them.
Incredibly tight vacancy rates are causing an increase in the uptake of alternative rental solutions throughout the state, including granny flats. However, with an increase in granny flat tenancies came an increase in complaints often centred around access and privacy term breaches.
Once more, the case highlighted the legal rights of tenants and the responsibilities of landlords, as well as definitions of what indicates an unlawful dwelling.
How did a legislative change enacted in 2021 impact a rental crisis a year later? One prominent Melbourne agent explains how amendments to Victoria’s Residential Tenancies Act facilitated a mass investor exodus from the state and caused vacancy rates to slide.
Anthony Webb, chief executive officer at Philip Webb Real Estate, explained the impacts of the legislation on his agency’s rent roll as well as the wider Melbourne market.
No one deserves any form of abuse at work, not least property managers, especially as they are tasked with mitigating the fallout from rapidly declining vacancy rates and a surge in stressed prospective tenants inquiring for a dwelling.
The Real Estate Institute of Queensland (REIQ) posited that such instances of abuse are resulting in a number of property managers leaving the industry in droves, ratified by an MRI Software report that found a large portion of Australian property managers “considered dealing with aggressive and abusive owners and tenants their biggest challenge”.
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