A Crisis in Property Management

Please see below an article from REIV’s April Issue of the The Estate Agent magazine. Followed by comments from infolio’s property manager Lauren Staley.

Having personally been a property manager for over 14 years I can honestly say that this comes as no surprise.   A good property manager is worth their weight in gold however many principles see their rental departments as a side business simply there to complement sales and groom staff for a role in selling properties down the track, this is despite the rent roll often holding an agency in good stead during a financial turn down.

When I first commenced in real estate I worked Monday to Friday and every single Saturday, these days property managers demand more income and almost refuse to work weekends unless there is some major incentive, again this comes as no surprise as retaining staff in a field where you are constantly dealing with peoples issues, working as the middle man can be very tiring.   Many agencies lug their property managers with portfolios of up to 300 or more properties with no assistance… If you are inspecting your properties twice annually, reviewing rents, handling maintenance it is clear to see that those portfolios are going to fall short on service, not because the property manager doesn’t want to do the right thing but because there are not enough hours in a week, days in a month, so I remind you to ask your property manager how many properties they personally look after before making a decision to work with them as this will be as good indicator of how well the company runs and how well you will be serviced.

At Infolio we pride ourselves on maintaining portfolios with a maximum of 220 per property manager, our property managers are also fully assisted with an assistant and trust accountant which means there is always someone available to answer your query, together with continuity of staff retention as our employees are not over worked and under paid.