Property Management is highly demanding and takes a unique set of skills. Between finding the right tenants, ensuring low vacancies and high returns, keeping up to date with maintenance, and communicating between the different parties, there’s a lot to juggle. If the fundamentals are not in place, it can become a nightmare for owners and tenants alike.
So what is the secret? How do you juggle all those demands while keeping both the owners and tenants happy? We went straight to the source to find out.
As an expert in the field and one of the most competitive and highly respected Property Managers in the Brisbane leasing arena, Suzana Wade discusses what it takes to be Brisbane’s best Property Manager.
Knowledge and experience
The best Property Managers are backed by significant experience, a strong knowledge base, and glowing reviews from past clients. Local market knowledge is required to guide owners on maintaining and (sometimes) increasing the value of their properties. In addition to this, a strong understanding of local council regulations and relevant state laws is required. This ensures both the owners and the tenants are protected.
Remember all the things a Property Manager has to juggle? You will constantly have things on the go. With multiple properties requiring communication with tenants, owners, and potential third-party maintenance personnel, you need to be an excellent multi-tasker.
Without being organised, managing so many things at once can quickly turn messy. Start with a detailed database with all the relevant information for owners, tenants, and the properties. Write everything down and invest in a good calendar. This allows you to stay abreast of the important dates such as rent due dates, maintenance, lease reviews, extra bills such as water, inspections, and repairs.
Excellent communication and transparency
Trust is paramount to the process. The best Property Managers know the gravity of managing someone’s investment and can communicate with their clients in a way that fosters confidence. One way I build trust is to have a completely transparent approach with open communication. I keep owners informed throughout the process and encourage direct feedback to ensure that there are no surprises at the end. I also have an open line of communication with tenants. Gauging the expectations of all parties involved is imperative to matching the best tenants with the best properties and keeping them leased.
Just remember, the client should be at the heart of what you do. If you have happy clients, this promotes more business and success. So above all, aim to always exceed the client’s