After having a quick chat with a potential investor in the local area about property management, this was the response I was given. Everyone is entitled to their own opinion but after speaking for no more then 5 minutes, this investor had done a 180 and was now thinking how he could be without a Property Manager. A highly respected Property Manager once said to me in my early days in real estate, “Property Management is not one big job, it is a million small jobs all rolled into one!” I didn’t know what this meant when he first said this and I can guarantee many investors don’t have this understanding either. After working in Property Management for numerous years you learn quickly the point he was getting across.
For instance, today I have been a debt collector, taxi driver, negotiator, mediator, receptionist, post man and finally, a social media commentator. Just another standard day in Property Management.
From a landlord’s perspective, when things are travelling well with a tenancy, they see a Property Manager as just another expense but when the proverbial hits the fan, there are not too many people who can work their way to ensuring that the issue is resolved in a timely and cost effective manner. Enter the Property Manager.
As a Property Manager, I want to ensure that my clients feel they are getting more value for their money. All Property Managers want to give 110% for their clients but the question I put to them is. “How can you give 110% if everyone else is doing the same?” Yes the effort is there but how do you separate yourself from your competition? What’s your point of difference? In a previous post I spoke about being an innovative agent and the use of videos for my periodical and outgoing inspections. I have been using this system for close to 2 years now and have had nothing but praise. Little things like this where an investor may have brought their investment to me from another agency ensures their decision to change. Receiving a video on a bi-monthly basis compared to a hand-written carbon fiber report yearly can do wonders and adds value to your client base. There are many other things I am completing to try and add that value for my clients.
By doing this ensures that you are not an investor saying “Nah, I don’t need one of those” to “what would I do without them?”