One of the first questions asked of most property managers by a potential new client is “what’s your management fee?” which is really a misnomer for the fee when you look at the work involved in the day to day and longer view of the management of a rental property. I have constant conversations with …
I think we’ve got the fee discussion the wrong way around… Read More »
Last week I talked about somewhat less direct methods of retaining key staff by looking at the internal management structure of the agency; this week I want to discuss in a bit more detail the financial aspects of staff retention by looking at income-related ways of keeping your Property Management (and for that matter, your …
Regardless of the plans we have for people, it’s inevitable that some team members will leave your organisation, and many will do so sooner than we’d like; but there are ways that we can make their decision just that little bit harder. More often than not, when someone leaves an agency, you’ll hear them reel …
My article last week on asking for a salary increase seems to have hit a couple of nerves, this is obviously a very sensitive area for all participants and the best forum to have conversations like this in is within a structured environment such as an annual performance review meeting where the objectives and achievements …
One for the managers and leaders – How to respond to that request for a salary increase… Read More »
I’ve had many discussions in the last few years, and more notably in the last month, with Property Managers who are being left behind in the income stakes and some who – quite frankly – have been taken advantage of by their directors in terms of their pay. The majority of Property Managers are underpaid …
Let’s talk about the “R” word – Remuneration (Agency Directors, look away now) Read More »
Property Managers throughout Victoria should take a bow. In the last two years, there have been 2 separate and highly complex pieces of legislation thrown at them only 12 months apart and they’ve stood up and managed them as well as I’ve seen anywhere; with all the distress and anxiety of covid and the lack …
If you’ve read my last few articles, you’ll be aware that I’m passionate about Property Management, and I’m also passionate in my view that the current model needs to change. My belief is that over the last decade or so property management has become an entirely different business to the way we’ve seen it in …
I think we need to face the reality of our environment. In most cases and most areas, fee discounting is here to stay whether we like it or not and to remain profitable, we’re going to have to operate on reduced margins and therefore find other ways to keep a healthy bottom line.
In the forward-looking agencies that I’ve consulted to, there is an eagerness to find ways to remove the stress of their Property Management staff and improve their roles, and they are continually looking at emerging property technologies along with best practice in other industries. As an example, most of us clearly learned the effectiveness of …
How to resolve the staffing crisis in Property Management pt2… Read More »
There’s a pretty good chance I’m not going to win many friends by saying some of what I’m about to say… In case you missed it, there’s a crisis in Property Management – we’re losing good people at a rate of knots. Look closely though, and you’ll see that there has always been a lack …
Adaptation means survival – how to resolve the staffing crisis in Property Management Read More »