I was talking to my best friends recently who own 5 properties in close proximity and have them with 4 different agencies. I asked them why they haven’t changed them to one property manager to make it easier on them? The male said, ‘well we’ve kept them with the property manager that is from the sales agency’ and then went on to say, ‘and to be honest, I can’t be bothered taking the time to, given I don’t really get anything from any of them.’
These two really are the perfect Landlords. They’re ‘outsourcers’ (check out our landlord profiles based on client research here) who just want the property manager to care for their tenants and take care of everything for them. And they’re perfect in that they’re continuing to add to their portfolio.
Property Managers, we have in my opinion, 3 roles. To assist profit for our business owners, to give the property owner the service that they want and pay for and to assist tenants to enjoy their home.
To assist profit for our business owner means 3 things. Retention and growth of properties and maximising the fees and overall value of the client. That question, ‘do you have any other properties we could assist you with’ should be in our DNA and one of the first questions asked of any new investor (and of all of our investors if we haven’t done it before).
Want a pay rise this next year? Be more valuable!
We know that those in your own database of owners, tenants, tradespeople, inactive owners, inactive tenants etc have more properties. There’s also a huge opportunity to build a network of property managers to refer your owners’ out-of-area properties to other agents and profit from this. Your database is an absolute gold mine and your income earning potential truly is only limited by your ability to ask 1 question: ‘Do you have any other properties we can assist with?’